Business Confidence Wave 3
This report presents the outcome of the third phase of data gathering – a survey of regional tourism business owners. The objective of this survey is to create an annual business confidence index.
Highlights – Business Confidence
- Respondents to our survey remain positive about their prospects for the upcoming year, with 72% falling into our Mid and High Confidence levels
- That said, 39% said they are optimistic about meeting their business objectives in the coming year, the lowest level of the three waves
- A higher proportion said in this wave that they expect sales to be higher next year – 43% versus 32%
- The level of concern about meeting their staffing needs is the same as the last wave, with 36% saying they are optimistic they will be adequately staffed. 19% said hiring conditions have improved, up from 9% in the last wave
- Inflation still preoccupies the Canadian consumer, and business operators in RTO 12 are still no different. Almost three-quarters of respondents say rising prices will limit their ability to achieve their business objectives next year
- Lack of employees was only flagged as a concern by 35% of respondents, the lowest level of the three waves
- For the first time, the volume of visitors is a top 3 concern
