The tourism sector is one of the hardest-hit industries economically affected by Covid-19 and will take the longest to recover fully. The CEWS and CERS subsidies have helped many businesses over this challenging period. As other industries are slowly recovering, travel & tourism will still take more time.
The Coalition of Hardest Hit Businesses (CHHB) campaigned to extend these subsidies, along with the Ontario Motor Coach Association (OMCA) and its members. President of the OMCA, Vince Accardi, set up various initiatives to persuade the government on behalf of their members. One of which was a special zoom meeting with MP Yvan Baker of Etobicoke Centre. Edward Radonic, of Radonic+ Travel & Tourism Marketing, a member of the OMCA for almost 20 years. As a marketing services member, Ed has worked with many OMCA members and contributed to their prior success. Ed was invited to participate in these meetings and is proud to be part of the success in persuading the Liberal Party to extend continued support to the Travel & Tourism industry.
As a result, the re-elected Liberal government will introduce further wage and rent subsidy for sectors like hotels, tour operators, convention centres, festivals, and attractions that have a minimum of 40% revenue loss. Qualifying businesses in the Travel & Tourism sector would be able to access a maximum subsidy of up to 75% until May 31st 2022. This may also be extended if the government decides it is necessary.