Apr. 23 at 3:42 PM
The number of Canadian-resident return trips by automobile from the US plunged -31.9% y/y in March. That’s the 3rd straight monthly decline & followed a -23% drop a month earlier.
President Donald Trump’s attacks on Canada’s economy & sovereignty have spurred a swell of national pride & anger at the US, prompting boycotts of American products & public pushback
The US has long been the most popular destination for international trips among Canadians. 66% of the Canadian population lives w/n 100KM of the US border
The number of Canadian-resident return trips by air from the US also fell, decreasing -13.5% y/y in March. On the other hand, return trips by Canadians from foreign countries other than the US rose +9.1%.
Canadians made up the biggest group of tourists in the US Last year, Canadian visitors generated US
$20.5B in spending in the US. A -10% reduction in Canadian travel could mean 2M fewer visits,
$2.1B in lost spending & 14K job losses.
$AWAY $CRUZ $SPY $EWC $UUP