Tourism spending in London, Ont., reached over $1 billion in 2023, according to a report from Tourism London.
The report, prepared by the Conference Board of Canada, shows tourism spending in the city rose by 10.8 per cent last year, bringing in an extra $106.5 million for the local economy compared with 2022. This brings the yearly spending total for overnight tourists in 2023 to a total of $1.08 billion.
“When we talk about new initiatives, initiatives through 100 Kellogg, the initiatives and investment through East Park, what our restaurants are doing in regards to building culinary presence in a very competitive market and our UNESCO City of Music designation has brought us into that international market,” says Cheryl Finn, general manager of Tourism London.
“Our staples are growing, like Rock the Park and Sunfest, the air show. These are must-see and must-attend festivals and events now for many people coming in from all over the world.”
Earlier this month, Rock the Park and Sunfest achieved record ticket sales and crowds.
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The city hosted nearly 2.1 million overnight visitors over the course of 2023, with 136,000 visitors from the United States, 25,000 coming internationally and nearly two million domestic tourists. This tourism activity helped generate roughly $1,052 million in gross domestic product (GDP) for the province, and nearly $616.1 million for the local economy.
“Our partners are incredibly willing to come to the table,” Finn says. “None of this is done by ourselves, it’s always in collaboration with others, and we couldn’t be more proud of those people that continually want to work with us.”
This is promising news for 2024 and tourism’s financial impact on London, especially as the industry begins to bounce back after the pandemic. This boom in tourism supported 10,196 jobs provincially, 7,864 of which were in London.
“We’re working with our regional tourism organization to put together amazing packages for people coming in for more than the day trip,” Finn says. “So if you’re coming in from another country or from the United States, what would an itinerary in southwestern Ontario look like?”
Food and beverages totalled $417.3 million, 38 per cent of total tourism spending, of which $311.1 million was spent in restaurants and $106.3 million was spent in stores.
“I’m thrilled by the remarkable growth in tourism spending in our city this past year,” Mayor Josh Morgan says. “This increase highlights the essential role tourism plays in enriching our community’s industries, supporting numerous full-time jobs and contributing to the well-being and success of London.”
© 2024 Global News, a division of Corus Entertainment Inc.