Business Confidence Index – Wave 4 Survey
Help Shape the Future of Tourism in Our Region
Your Voice. Your Industry. Your Impact.
As part of an ongoing effort to provide timely, relevant intelligence on the state of the regional tourism industry, Explorers’ Edge is launching Wave 4 of the Business Confidence Index Survey—a key component of the Regional Tourism Data Dashboard being developed to support long-term sustainability and resilience for tourism in the region.
This multifaceted data collection effort is conducted semi-annually, and this survey plays a crucial role in building a Tourism Business Confidence Index—a measure of how our industry is doing, what challenges are emerging, and where opportunities lie. It’s an initiative designed to inform smarter decisions, stronger advocacy, and better support for you—our tourism operators.
CLICK HERE TO COMPLETE THE SURVEY
Why Your Input Matters: What We’ve Learned So Far
The first three waves of this survey have painted a compelling picture of a sector navigating change with resilience and cautious optimism:
- In Wave 1 (April 2022), 79% of businesses expressed mid-to-high confidence, and 54% anticipated stronger sales. However, staffing was a significant concern, with an estimated 1,300 full-time and 4,600 part-time positions unfilled.
- Wave 2 (December 2022) showed confidence holding steady at 72%, but optimism about future sales dropped to 32%. Inflation became the dominant concern, cited by 74% of respondents, while housing and labour costs remained persistent challenges.
- By Wave 3 (April 2024), overall confidence was consistent, but only 39% felt highly optimistic about meeting their business goals—the lowest across all waves. That said, 43% expected stronger sales, and hiring conditions began to ease. For the first time, low visitor volume rose to the top tier of concerns alongside inflation and staffing.
Throughout all waves, there’s been a steady decline in confidence in the industry’s ability to attract and retain workers, and the proportion of operators who feel it’s a good time to invest has dropped significantly—from 58% in Wave 1 to just 39% in Wave 3.
Why Now?
Tourism operators in Ontario are navigating a complex economic landscape. Rising operational costs, increased interest rates, cross-border tariffs, and changing visitor spending patterns are all impacting the bottom line. While demand for travel is rebounding, so too are the pressures of inflation, labour shortages, and access to affordable housing for workers.
Your input in this survey will help identify trends, flag risks, and shape the strategies that will support tourism operators through these conditions—and position the region for a stronger future.
Your Participation Counts
- The survey will take approximately 10 minutes to complete.
- All responses are strictly confidential.
- Complete the survey and you’ll be entered to win one of three writing graphic tablets.
- You’ll also get early access to results and insights via an exclusive Zoom presentation with Explorers’ Edge senior staff.
