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
'He's in our hearts': Family and friends still seek answers one year after Nathan Wise’s disappearance
It’s been a year since Nathan Wise went missing and his family is no closer to finding out what happened to him.
'My family doctor just fired me': Ontario patients frustrated with de-rostering
Dozens of Ontarians are expressing frustration in the province’s health-care system after their family doctors either dropped them as patients or threatened to after they sought urgent care elsewhere.
Ottawa pizzeria places among top 20 deep-dish pizzas in the world at international competition
An Ottawa pizzeria is being recognized as one of the top 20 deep-dish pizzas in the world.
Canada Post cracks down on Nunavut loophole to get free Amazon Prime shipping
Amazon's paid subscription service provides free delivery for online shopping across Canada except for remote locations, the company said in an email. While customers in Iqaluit qualify for the offer, all other communities in Nunavut are excluded.
Wildfire near Fort McMurray more than triples overnight, several evacuation alerts remain in place
The fire burning near Fort McMurray grew from 25 hectares to 5,500 hectares over the weekend.
Putin replaces Russian defence minister in rare cabinet shakeup
Russia’s President Vladimir Putin began a Cabinet shakeup on Sunday, proposing the replacement of Sergei Shoigu as defence minister as he begins his fifth term in office.
Man fatally 'slashed in the neck' in downtown Toronto, suspect outstanding
Police are searching for a male suspect after a man was “slashed in neck” on Sunday morning in downtown Toronto and died.
WATCH Dashcam video shows terrifying near-miss on two-lane northern Ontario highway
There were some scary moments for several people on a northern Ontario highway caught on video Thursday after a chain reaction following a truck fire.
Edibles, armchairs and adapters: Here are the recalls for this week
Health Canada announced various product recalls this week, including electric adapters, armchairs, cannabis edibles and vehicle components.