Canadian travelers were spending their wealth pretty rapidly across the world towards the end of 2010, even more so than foreign tourists were spending money in Canada. However, the federal agency in Canada has stated that the country's travel deficit rose $157 million from the previous three months to total $3.8 billion in the fourth quarter of last year.
Canadian spending in other countries around the world rose 2.4% to total of $7.9 billion during this time with spending from foreign visitors to Canada increasing by 0.7% to total of $4.1 billion. The overall travel deficit for Canada in 2010 was $14.1 billion, an increase of $1.9 billion over the previous year. Canada's travel deficit with the United States rose $130 million to total $2.9 billion in the fourth quarter as well.
Statistics Canada stated that the value of the Canadian dollar rose 2.6% between last year's third and fourth quarters. The Canadian dollar was more valuable than the U.S. dollar as last year ended and remains more valuable as of now. According to Statistics Canada, "This likely contributed to the increase in the number of same-day car trips by Canadian residents to the United States."
Source: Canada.com - Canadian travel deficit widens in fourth quarter