2024 State of Downtown report finds visitors to Vancouver’s core exceed pre-pandemic levels
Four years after COVID-19 brought the world to a standstill, economic recovery from the pandemic is still ongoing – and that’s reflected in the annual State of Downtown report from the business association in Vancouver’s core.
According to the report, more people visited downtown Vancouver in 2023 than in 2019.
"But they're not coming in as often, and we attribute that mostly to the hybrid work culture,” said Jane Talbot, Downtown Van’s president and CEO. “So, in 2019 they were coming in for five days of work. Now, they're coming in for two, three and hopefully four."
Some businesses have closed downtown offices altogether in favour of having staff work from home, something that’s reflected in the office vacancy rate of 9.4 per cent.
Fewer workers in the city’s core is having major impacts on a variety of businesses, but perhaps none more so than the restaurant industry, where many establishments continue to break even or lose money month over month.
"We're seeing people going out but they're buying differently. They're buying down. So, they're tending to maybe go to happy hours, maybe sharing a meal, maybe having one less cocktail because they are being mindful of their own budgets,” said Ian Tostenson of the BC Restaurant and Food Services Association.
With warmer weather upon us, he’s hopeful a strong patio season can reverse the fortunes for many of his member businesses.
Peak tourism season should help boost hotel occupancy as well.
It was 79 per cent last year, just one point off the pre-pandemic mark of 80 per cent in 2019.
"And that's critically important because that sector touches so many other sectors,” said Talbot. “Related to that, of course, is our cruise ship industry, [which had a] record year in 2023 and we expect a similar year in 2024."
This business association is in the planning stages for a number of events and street activations this summer as it hopes to draw tourists and locals alike to the downtown core.
CTVNews.ca Top Stories
Countries struggle to draft 'pandemic treaty' to avoid mistakes made during COVID
After the coronavirus pandemic triggered once-unthinkable lockdowns, upended economies and killed millions, leaders at the World Health Organization and worldwide vowed to do better in the future. Years later, countries are still struggling to come up with an agreed-upon plan for how the world might respond to the next global outbreak.
NEW Iconic Canadian song turns 50
Andy Kim's 'Rock Me Gently' is marking a major milestone, as it celebrates its 50th anniversary.
Oprah Winfrey: I set an unrealistic standard for dieting
Oprah Winfrey said on Thursday evening that she has long played a role in promoting unhealthy and unrealistic diets.
Ontario family receives massive hospital bill as part of LTC law, refuses to pay
A southwestern Ontario woman has received an $8,400 bill from a hospital in Windsor, Ont., after she refused to put her mother in a nursing home she hated -- and she says she has no intention of paying it.
Flat tire on a highway? Here's why you shouldn't try to fix it
If you're cruising down a highway and realize you have a flat tire, you may want to think twice before stopping to fix it on the side of the road.
From outer space? Sask. farmers baffled after discovering strange wreckage in field
A family of fifth generation farmers from Ituna, Sask. are trying to find answers after discovering several strange objects lying on their land.
Broadcaster and commentator Rex Murphy dead at 77: National Post
The National Post is reporting that Rex Murphy, the pundit and columnist who hosted a national call-in radio show for decades, has died.
Whooping cough outbreak declared in Newfoundland
Health officials say there is an outbreak of whooping cough in eastern Newfoundland.
Miss Teen USA steps down just days after Miss USA's resignation
Miss Teen USA resigned Wednesday, sending further shock waves through the pageant community just days after Miss USA said she would relinquish her crown.