Insights informing opportunities

Research & Insights

Insights informing opportunities

Destination Vancouver 2024 Business Sprint

How weโ€™re strengthening the visitor economy
ECONOMIC IMPACT

Tourism at a glance

$8.4B

Tourism revenues
2023

66,000+

Employment (jobs)
2023

10.9M

Overnight visitors
2023

$2.8B

Labour income
2023

VISITOR INSIGHTS

A thriving visitor economy

Vancouver welcomes visitors from across Canada and around the world. The graph below provides a summary of total overnight visitation to Vancouver by month and year.

JanFebMarAprMayJunJulAugSeptOctNovDec400K800K1.2M1.6M

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M+

Year-to-date visitors

Jan - Nov 2024

+%

Year-to-date growth

Jan - Nov 2024

M

Overnight visitors

2023

%

Year-over-year growth

2022 - 2023

RESIDENT SENTIMENT

Perceptions from our community

In November 2023, Destination Vancouver invited Vancouver residents to share their views on the economic, social, cultural, and environmental impact of the cityโ€™s tourism industry. The survey results and key findings are presented in this report.

Tourism value contribution80% of residents value the contribution visitors make to the local economy.
80%Agree
16%Neutral
4%Disagree

Hotel Supply & Demand

Visitor demand outstrips hotel supply

As year-over-year visitor growth continues, hotel shortage becomes a major challenge. If the available hotel rooms in Metro Vancouver remain unchanged, an increasing number of visitors will be unable to find hotel accommodationโ€”especially in the higher demand summer months.

Monthly hotel room supply & demand (2020 to 2050)
Monthly hotel room supply & demand (2020 to 2050) graph

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Economic Analysis of Hotel Supply & Projected Demand

Hotel Supply & Demand

Economic Analysis of Hotel Supply & Projected Demand

Hotel/Motel Rooms Available in Metro Vancouver

Hotel Supply & Demand

Hotel/Motel Rooms Available in Metro Vancouver

HOTEL SUPPLY & DEMAND

Downtown Vancouver hotel performance

72.9%

Occupancy (+8.9 point)
December 2024

$397

ADR (+66.6%)
December 2024

$290

RevPAR (+90.3%)
December 2024

80.2%

Occupancy (+1.6 point)
Jan-Dec 2024

$344

ADR (+7.7%)
Jan-Dec 2024

$276

RevPAR (+9.9%)
Jan-Dec 2024

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