Growth in tourism spending slows in 2008: Statscan
Tourism spending in Canada increased 1.9 per cent in 2008, as outlays by Canadians at home continued to rise while those by international visitors decreased again. Statistics Canada reports spending by international visitors in Canada fell 5.4 per cent in last year, the seventh decline in eight years, bringing tourism exports to their lowest level in 13 years. Tourism outlays by Canadians at home weakened in the second half of 2008, and ended the year up 4.1 per cent from 2007, the smallest gain in four years. Tourism GDP advanced 1.8 per cent, on the strength of first-quarter gains, while tourism employment increased 1.4 per cent to 662,900, half the previous year’s pace. Tourism spending in the fourth quarter edged down 0.1 per cent as outlays by Canadians continued to fall while spending by international visitors to Canada was flat.Canadians’ spending on tourism in Canada slipped 0.2 per cent in the fourth quarter after declining 0.4 per cent in the third quarter — the first time tourism spending in Canada posted back-to-back declines since the SARS scare of 2003.
Inter pipeline fund to sell valley pipeline system for $28 million
Inter Pipeline Fund (TSX:IPL.UN) has signed a deal to sell its 200-kilometre Valley Pipeline system west of Calgary to an undisclosed buyer for $28 million. The fund Monday said the pipeline is part of a regional network of condensate gathering pipelines and interconnecting transmission systems that transport condensate from natural gas processing plants in southern Alberta to a hub in Edmonton. In 2008, the Valley Pipeline transported 2,700 barrels per day of condensate.
Inter Pipeline said it sold the pipeline due to its small size, maturity and lack of synergies with other operations.