2020 was a challenging year for every country around the world. The Coronavirus pandemic saw many significant markets and economies come to a shuddering halt as people were told to stay indoors. This means the hospitality markets, in particular, suffered as no one could venture to sport events or the theatre. Canada was no different in this regard. Like most other countries, restrictions meant residents could not do things we consider ‘normal’ and had to change their behaviours accordingly.
With that said, two years into the pandemic, things are beginning to look slightly better. The introduction of vaccines and medical treatment means we now have more armour in our defence against COVID-19. Consequently, people can now visit shops, cinemas, stadiums and even travel abroad as things begin to open once again.
While we are not entirely in the clear, things are trending in the right direction. Canadians are beginning to experience ‘freedom’ once again, which should bring considerable benefits to the economy. As the significant markets look to bounce back, we take a look at which sectors look to be in the best position to experience a strong 2021.
Naturally, Canada’s aviation industry has suffered a significant downturn due to the pandemic. However, the recovery of the sector is well underway. The market has now become more modified as carriers have looked to reduce costs in a period of low demand. In turn, networks have changed in response by retiring older aircraft and reducing or eliminating certain network links at many smaller airports in the country.
The recovery continues to gather pace as air traffic has reached nearly 50% of pre-pandemic levels in 2021Q3. Things remain uncertain over the next few months and if recovery levels will remain as the peak summer leisure travel period passes and we move into winter.
With the Canadian Senate recently passing Bill C-218, legal sports betting is looking positive in Canada in 2021. Regulations will now be decided for each individual province once the bill receives royal assent. This presents a host of opportunities for operators to launch their online sportsbooks in a whole new market. The United States is understandably held up as the closest example of what an innovative, progressive, and exciting Canadian sports betting marketplace may look like.
Betting operators can quickly tailor their tech to different regulations, as they have done in the US, with the individual states all having different rules for sports wagering. For example, if you sign up for an account at your favourite sports betting site, you can bet on a wide range of local and international sports, view the latest Canada betting odds, and make deposits from your mobile device. From this point, gambling is only going to get bigger in Canada.
The Canadian real estate market is bouncing back in a big way, posting the most substantial increase in sales since the start of the pandemic. Home sales increased 8.6% in October from the month before, the most significant jump since July 2020.