Insights informing opportunities

Research & Insights

Insights informing opportunities

Destination Vancouver 2024 Business Sprint

How we’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

JanFebMarAprMayJunJulAugSeptOctNovDec400K800K1.2M1.6M

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M+

Year-to-date visitors

Jan - Jun 2024

+%

Year-to-date growth

June 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 city’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 accommodation—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

89.9%

Occupancy (+1.4 points)
July 2024

$437

ADR (+1.9%)
July 2024

$393

RevPAR (+3.4%)
July 2024

78.7%

Occupancy (+1 point)
Jan-July 2024

$329

ADR (+6.2%)
Jan-July 2024

$259

RevPAR (+7.3%)
Jan-July 2024

Dive into
more details

Corporate Strategy

Destination Vancouver 2024 Business Sprint

Visitor Insights

2024 Visitors by Market

Visitor Insights

Historical Visitors by Year

Proudly championing
Vancouver