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CANADA OVERNIGHT TRAVEL 2012f Domestic 2014f 115,729 117,915 121,176 1.7 Total* (overnight person-visits, 000's) 2013f 1.9 2.8 97,519 99,479 102,377 1.7 Leisure 2.0 2.9 5,811 5,926 6,095 2.0 Business 2.0 2.9 40,954 41,831 43,093 1.8 Total Expenditures* (overnight, $millions) 3.0 12,698 12,864 0.7 1.3 5,598 5,738 5,935 1.9 Overseas* 2.1 12,612 1.4 United States* 2.5 3.4 40,928 42,813 45,087 4.7 Travel Price Index* 4.6 5.3 2.67 2.28 2.20 f = forecast; e = estimates | Note: Italics represent percentage change | Sources: The Conference Board of Canada; Statistics Canada National Business Travel The Conference Board of Canada in their Autumn 2012 Travel Markets Outlook forecasts domestic business overnight travel in Canada to grow by 2.0% in 2012 and again in 2013. This growth is attributed to Canada's business investment and profits climbing to pre-recession levels. While there is expected growth in business travel, business confidence continues to fluctuate. The Conference Board of Canada's Quarterly Business Confidence Index fell steadily over the first three quarters of 2012, but showed growth in the last quarter (registering 97.5 points). The 5.3 point gain at the end of the fourth quarter brought business confidence levels back to the last two years' average. The Association of Corporate Travel Executives and Conference Board of Canada joint 2013 Canadian Business Travel Outlook Survey reports growth in business travel. In this study, 43.0% of respondents indicated they expect to increase their business travel and 28% expect similar travel as in 2012. In 2013, travel expenses are expected to increase 1.6%. The growth in expenditures will primarily be due to an increase in travel prices. According to Deloitte's survey as published in Navigate: Winter 2012 issue, business travel continues to see recovery in Canada as 88.0% of respondents plan to travel as much or more than the previous year, an 8.0% increase over 2011. Nationally over the next four years, the Conference Board forecasts business travel will yield a small growth of approximately 2.0% per year. 10 The Winnipeg Barometer Report | Volume 4, 2013