How about “Top-Growing Canadian Industries: Revenue Growth (%) in 2024”?
Travel Agencies in Canada 2024-2025 Revenue Growth: 15.4%
Travel agencies have faced challenges due to COVID-19, compounded by the growing dominance of online travel booking. Traditional brick-and-mortar agencies now coexist with online travel agents, reshaping the industry landscape. Revenue took a hit in 2020 as travel restrictions led to a significant decline, with a compound annual growth rate (CAGR) of -7.7% through 2023, although there was an 11.5% increase in 2023 alone.
This downturn resulted in a surge of cancellations, and despite signs of economic recovery in 2021 and ongoing vaccination efforts, the travel industry continues to grapple with obstacles.
Tour Operators in Canada 2024-2025 Revenue Growth: 12.5%
Canadian tour operators have experienced significant volatility. Before the COVID-19 pandemic, the industry benefited from a growing domestic economy and increased international travel by Canadians. However, the pandemic severely disrupted global tourism, leading to cancellations and indefinite postponements. Strict travel restrictions and border closures added to the industry’s challenges.
Scheduled Air Transportation in Canada 2024-2025 Revenue Growth: 10.9%
Canadian airlines enjoyed robust performance pre-pandemic, driven by rising disposable income and inbound travel. However, COVID-19 forced many airlines to suspend international services, and government-imposed measures severely limited revenue in 2020 and 2021. The industry is now on a path to recovery as vaccination efforts facilitate a return to normalized travel.
Car Wash & Auto Detailing in Canada 2024-2025 Revenue Growth: 10.5%
The car wash industry saw declining revenue due to reduced travel during the pandemic, despite benefiting from an expanding economy in previous years. Recovery has been hampered by rising consumer prices, impacting inflation-adjusted revenue.
Gym, Health & Fitness Clubs in Canada 2024-2025 Revenue Growth: 9.9%
Revenue growth in the fitness industry has been driven by consumer trends and public health campaigns. With rising obesity rates, there’s a growing emphasis on fitness and healthy living, leading to increased membership incentives by health insurance companies.
Fast Food Restaurants in Canada 2024-2025 Revenue Growth: 9.8%
Despite industry expansion driven by consumer spending and innovation, fast-food restaurants face challenges from internal competition and changing consumer preferences. Customization and high-quality ingredients are gaining popularity, prompting industry players to rethink their strategies.
E-Commerce & Online Auctions in Canada 2024-2025 Revenue Growth: 9.4%
The e-commerce industry has seen rapid growth, fueled by increasing internet and mobile connections. COVID-19 further accelerated this trend as consumers shifted towards online shopping, creating new opportunities for the industry.
Market Research in Canada 2024-2025 Revenue Growth: 9.2%
Market research operators faced revenue fluctuations due to economic volatility and reduced demand during the pandemic. Despite economic reopening, inflationary pressures dampened revenue growth, impacting operators’ profitability.
Boat Building in Canada 2024-2025 Revenue Growth: 8.8%
The boat building industry experienced moderate revenue volatility over the past years, with demand influenced by economic conditions and pandemic-induced factors. Rising household incomes and recreational boating activity drove industry growth.
Optometrists in Canada 2024-2025 Revenue Growth: 8.7%
Canadian optometrists saw growth despite competition from online retailers. Demand rose due to an aging population and increased awareness of eye health. Advertising campaigns highlighted the risks of purchasing eyewear online, benefiting optometry practices.
