Based on the expert analysis and our database of 480+ CA industries, IBISWorld presents a list of the Fastest Growing Industries in Canada by Revenue Growth (%) in 2021
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View a list of the Top 25 fastest growing industries2021-2022 Revenue Growth: 129.6%
Over the five years to 2021, the Campgrounds and Recreational Vehicle (RV) Parks industry in Canada is expected to experience a major decline, brought upon by the COVID-19 (coronavirus) pandemic. Industry establishments primarily operate RV parks and campgrounds that accommodate campers and provide amenities for a fee. Therefore, industry operators largely depend on travel-related trends to drive revenue growth. These trends include RV sales, disposable income and demographic shifts. Between 2016 and 2019, consumer conditions improved, to the benefit of the industry. Rising levels of disposable income during the aforementioned period enabled many individuals to invest in nonessential purchases, such... Learn More
2021-2022 Revenue Growth: 103.5%
The Scheduled Air Transportation industry in Canada has performed well over much of the five years to 2021 as rising levels of disposable income enabled more consumers to purchase airline tickets, while a relatively weak Canadian dollar has encouraged inbound travel from foreign consumers visiting Canada. However, the COVID-19 (coronavirus) pandemic has resulted in many airlines suspending international service and governments imposing social distancing guidelines to prevent the spread of coronavirus, severely constraining industry revenue in 2020. Overall, industry revenue is estimated to decrease an annualized 6.4% to $16.1 billion over the five years to 2021. This includes a projected... Learn More
2021-2022 Revenue Growth: 93.2%
The Travel Agencies industry in Canada has struggled over the five years to 2020 as the traditional core services of the industry have been negated by the rise of internet travel booking. The industry has been tipped on its head as consumers have increasingly flocked to online travel websites to research and book travel. Online booking agents now play a larger role within the industry alongside traditional brick-and-mortar travel agencies. While revenue from travel websites is included in this industry, internet-based operators earn a significantly lower commission from their sales than brick-and-mortar travel agents. Traditional travel agents have struggled as... Learn More
2021-2022 Revenue Growth: 66.9%
The Tour Operators industry in Canada has been volatile over the five years to 2021. With the domestic economy's expansions between 2016 and 2019, international trips taken by Canadians increased. In addition, greater international exposure for the Canadian tourism industry, coupled with overall global economic growth, motivated more foreigners to visit and book tours in Canada, leading to increased inbound international travel. However, in 2020, the COVID-19 (coronavirus) pandemic shocked the global tourism sector, with countries closing borders, government authorities keeping only essential businesses open and strict travel restrictions being put in place. As a result, many travellers cancelled their... Learn More
2021-2022 Revenue Growth: 62.0%
Revenue for the Foreign Currency Exchange Services industry in Canada is expected to decrease over the five years to 2020, as the COVID-19 (coronavirus) pandemic significantly depresses international travel. In addition, pressure from external competition by banks offering foreign exchange services has aided in the industry's decline. However, more operators are offering services to financial institutions by participating in the supply chain of foreign exchange, supplying banks with banknotes in wholesale or providing the service directly as an outsourced agent. Alongside favourable economic trends during the majority of the five-year period and the proliferation of online services, operators have expanded... Learn More
2021-2022 Revenue Growth: 47.2%
Over the five years to 2021, revenue for the SUV and Light Truck Manufacturing industry in Canada is projected to decrease, as the COVID-19 (coronavirus) pandemic has significantly affected industry operations in 2020 with temporary plant closures and lower demand. Also, demand is still expected to be dampened in 2021, despite an improved economic climate over the current year. With the export market accounting for an estimated 88.6% of industry revenue in 2021, of which more than 95.0% is destined for the United States, industry operators are heavily reliant on US economic conditions. Consequently, the performance of the industry in... Learn More
2021-2022 Revenue Growth: 45.4%
The Taxi and Limousine Services industry in Canada provides a range of nonregular transportation services through vehicles such as taxicabs, limousines and luxury sedans. The industry has experienced brutal operating conditions over the five years to 2020. Growing consumer spending through much of the period stimulated demand for taxis and limousines. However, the proliferation of ride-sharing applications, such as Uber and Lyft, has enabled a wave of nonemployers to enter the market, increasing external competition. As a result, industry revenue is estimated to decrease an annualized 9.3% to $1.4 billion over the five years to 2020. This includes a declining... Learn More
2021-2022 Revenue Growth: 34.5%
The Full-Service Restaurants industry in Canada has experienced an overall decline in performance over the five years to 2021 as the COVID-19 (coronavirus) pandemic erased several years of steady growth. Prior to the pandemic, rising levels of per capita disposable income and consumer spending drove industry expansion. The pandemic, however, created an unprecedented and precipitous fall in industry revenue, which led to widespread layoffs and closures. While remaining operators have adapted to unfavourable operating conditions by offering takeout and delivery options, depressed sales and rising costs have led to poor profitability among industry establishments. However, as the broader economy expands,... Learn More
2021-2022 Revenue Growth: 30.4%
The Hotels and Motels industry in Canada has endured incredible volatility over the five years to 2021 due to the global spread of COVID-19 (coronavirus). For the majority of the period, the industry grew steadily alongside growth in international tourism and domestic per capita disposable income. However, the coronavirus pandemic resulted in a massive decline in international travel, in addition to a huge decline in domestic demand for hotels and motels. Ultimately, revenue is expected to decline 55.2% in 2020 alone, due to a 48.1% decline in total tourism expenditure that year and an 84.4% decline in inbound international travel.... Learn More
2021-2022 Revenue Growth: 29.6%
Operators in the Canadian Ski and Snowboard Resorts industry have experienced meagre growth over the five years to 2021 due to steep declines in 2020 caused by the COVID-19 (coronavirus) pandemic. Rising per capita disposable income during most of the period provided consumers with more discretionary income, enabling them to spend more on recreational activities such as skiing and snowboarding. Overall, industry revenue is expected to increase an annualized 0.6% to $1.2 billion over the five years to 2021. The ongoing pandemic has had an unprecedented effect on all tourism-related industries as travel restrictions enacted to prevent the spread of... Learn More
Based on the expert analysis and our database of 480+ CA industries, IBISWorld presents a list of the Biggest Industries by Revenue in Canada in 2021
VIEW ARTICLEBased on the expert analysis and our database of 480+ CA industries, IBISWorld presents a list of the Industries with Largest Number of Bussinesses in Canada in 2021
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