Spending by Canadians travelling in the United States reached a new high of $5 billion in the first quarter of this year, Statistics Canada announced today.
The rise in spending coincides with a 4.2% increase in same-day car trips to the U.S. compared with the previous quarter.
During the quarter, the Canadian dollar rose by 2.8% to reach an average value of US $1.01.
Spending by Americans in Canada declined 4.4% to $1.7 billion in 2011’s first quarter, hitting its lowest level since the first quarter of 1997.
Americans’ same-day car trips to Canada dropped to 1.7 million trips during the quarter – the lowest level since record-keeping began in 1972.
Statistics Canada said that the rise in spending by Canadians in the U.S. was the largest driver behind Canada’s international travel deficit, rising $213 million to reach $4.2 billion during the most recent quarter.
Canadians’ overseas spending declined for the second quarter in a row. The 2.5% decrease contributed to an overall drop in Canada’s travel deficit with overseas countries, which shrank $56 million from the previous quarter to sit at $873 million.
Jenny Wagler
Twitter: @JennyWagler_BIV