Chew's News

Tourism in Niagara is booming, boosting hospitality real estate

Posted by Greg Chew on Oct 27, 2017 4:05:14 PM

Skyline CASD63W9.jpg

Niagara’s popularity as a tourism destination has grown significantly over the past three years. Tourism operators, across the board, noted a 20% increase in 2016 along with an estimated $2.2B in tourist expenditures. Now that the summer of 2017 is over, tourism operators are reporting another 10% increase, putting them on track to hit a current expenditure goal of $2.4B.

A number of factors are driving this increase, including the return of American tourists.

Factors Boosting Tourism

A strong marketing effort on behalf of Canada 150 has drawn in a record breaking number of tourists along with the help of its North American wide television campaign.

These campaigns, assisted by the declining value of the Canadian dollar, have attracted many outside Ontarians and Americans to the Region. Our lower dollar value increased american tourism by 5% in 2016. International travel also rose across the board. Most notably, mexican tourism increased by 114%.

Furthermore, the American talk show, Live with Kelly and Ryan, recently helped to open up Niagara to America. The program acted as a two hour long promotional piece for the Region, showcasing clips of hosts Kelly Ripa and Ryan Seacrest exploring the best of Niagara’s tourist attractions.  

Now Is The Time To Invest

Niagara tourism growth is proving to be fast paced. A jump of 1-2% in tourism was predicted In 2016, however, Niagara saw an estimated jump of nearly 10%!

Industries investing in Niagara continue to improve Niagara Falls as a tourism destination. Attractions like the 5000 seat theatre set to join the Hilton site, a new Zipline and Adventure Park and a focus on drawing high profile events are definitely enriching Niagara’s overall appeal.

There are a number of investment opportunities in Niagara, from commercial spaces, tourist commercial development properties to hospitality real estate. These investment opportunities are positioned for significant return as both Canadians and Americans continue to travel to Niagara.

To view tourism properties for sale in Niagara Falls, view my listings page.

New Call-to-action

Topics: hotel investment

Receive Reports From Greg Chew to Your Inbox

All blog entries on this site are the opinion of the author(s) and not those of Colliers International. Colliers International neither endorses sponsors nor necessary shares the opinions of the author(s), regardless of whether any blog is posted by any employee, officer, agent, or representative of Colliers International. Colliers International has not authorized or verified any statement of fact made in a blog, and any such statement does not constitute a statement of fact by Colliers International. Colliers International is not responsible for the monitoring or filtering of any blog, nor does Colliers International claim ownership of control over any blog.