Oil’s Swift Fall Effects Tourism – NYTimes.com.
Well this is not my typical tourism comment, but the price of oil effects everything and especially tourism. Cheaper oil is great for travel but not if it sinks economies that generate travel.
This article is a detailed overview of who stands to gain and loos in the new environment of lower oil prices. it is interesting to note that the USA increase in oil production since 2008 is 4 million barrels a day – more that all Opec producers except Saudi Arabia.
Canada does not figure in the analysis. I expect Air Canada and Westjet flights will become more affordable, but with the federal government now loosing huge oil royalties, and the economy uncertain with oils decline, the question is who will have the cash to fly?. Is a question tourism officials and hoteliers are asking everywhere!