State of the Industry
A Pillar of the Provincial Economy
Alberta’s tourism industry continues to be a vital economic driver, generating $12.7 billion in visitor expenditures in 2023, contributing $10.8 billion in GDP, and supporting 119,000 jobs. The sector has seen remarkable growth, adding 25,000 jobs and $2.2 billion in GDP since 2019. The Alberta government has set a bold vision to grow visitor spending to $25 billion by 2035, reinforcing the province’s commitment to a thriving tourism economy.
In TIAA’s fourth annual State of the Industry Report, we review the performance of the sector in 2024 and explore what’s ahead for 2025.
Download the 2025 State of the Industry Full Report.
State of the Industry
2024 marked a strong year for Alberta’s tourism sector, with continued growth in visitor expenditures, international arrivals, and employment. However, the industry faces challenges, including the lasting impact of wildfires in Jasper, ongoing labour shortages, and housing affordability issues that affect workforce sustainability.
While Alberta outpaced the rest of Canada in tourism recovery, competition for domestic visitors remains fierce, particularly against British Columbia. Alberta’s domestic tourism expenditure deficit grew to $1.6 billion in 2023, emphasizing the need for strategic investment to capture more in-province spending.
Despite these challenges, the Higher Ground tourism strategy sets ambitious goals to propel the sector forward. With expanded air access, increased international visitor spending, and new investments in tourism infrastructure, Alberta is poised for continued growth.
Seizing the Opportunity
Tourism is one of Alberta’s fastest-growing industries, but unlocking its full potential requires strategic government action. TIAA recommends the province take key steps to foster sustainable growth, including:
• Strengthening sustainable tourism funding
• Developing an Alberta Tourism Experience Tax Credit
• Addressing labour and workforce housing shortages
• Investing in tourism infrastructure
• Modernizing Crown land use policies
With the right policies and investments, Alberta’s visitor economy can reach new heights, driving job creation and economic prosperity across the province.
Download the 2025 State of the Industry Full Report to learn more.