Canada's international travel deficit hit its worst levels on record after foreign travelers curtailed spending in Canada, according to a report released Thursday.
The travel deficit widened from $3.2 billion in the second quarter to $3.3 billion in the third quarter of 2009, Statistics Canada said.
A 0.8% drop in tourist dollars in Canada was the main contributor to the under-performing travel portfolio. Foreign visitors spent just over $3.7 billion within our borders, representing the smallest influx of tourism cash in six years.
Meanwhile, Canadians spent little over $7 billion travelling outside the country, an increase of 1%.
Canada closed in on its travel deficit with the U.S. by $111 million as a result of lower spending by Canadians in the U.S.
But the travel deficit with overseas destinations reached a record-high adding $152 million in the latest quarter and hitting the $1.1 billion mark.
Canadians spent a total of $3.1 billion overseas in the third quarter, representing an increase of 4.3 %.
