General

Foreigners spending more money in Canada

Meantime, Canadians spending less money abroad

According to Statistics Canada, Canada’s international travel deficit fell by $235 million between the second and third quarter. The agency says the deficit dropped to $3.4 billion from $3.7 billion, its highest level ever. Spending by foreigners rose 2.3 per cent to $4.1 billion. Canadians spent less abroad—down 1.8 per cent to $7.5 billion. American visitors spent $1.8 billion here, a jump of 1.2 per cent from the second quarter. Canadians, meanwhile, spent $4.4 billion visiting the United States, a drop of 4.9 per cent from the previous quarter. Spending by Canadians in countries other than the United States reached a record high of $3.2 billion in the third quarter, an increase of 2.7 per cent from the previous quarter.

Toronto Star

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