Message from the CEO
The past few months have brought unexpected challenges, with U.S. tariffs creating uncertainty for many businesses, including those in our industry.
Despite these challenges, Ontario’s travel businesses have once again demonstrated their resilience, helping clients navigate a rapidly changing environment.
This is not the first time the industry has had to adapt quickly, and I have no doubt that you will continue to ensure travellers feel informed, protected and supported at every step. Impact of tariffs The ongoing uncertainty surrounding U.S. tariffs and their impact on Ontario’s economy, consumer confidence and the effect on TICO registered businesses is something we are monitoring very closely.
Consumer perceptions are changing quickly, and we understand that while that may present opportunities for some TICO registrants, others are facing very challenging times.
As we did during the pandemic, we are looking at all options around how we can support the industry at this time.
Auditor General progress Since receiving the recommendations from the Office of the Auditor General of Ontario (OAGO) in December 2023, we have been working to enhance the way TICO operates. To date, 70% of the recommendations directed at TICO have been completed. This has already contributed to greater efficiency, business intelligence, and our ability to better serve all stakeholders.
We publish quarterly progress reports and remain committed to completing the action items under our control.
Looking ahead
The months ahead will bring both opportunities and challenges, and TICO remains committed to supporting registrants and protecting consumers.
Your feedback and engagement are invaluable to TICO, and I encourage you to stay connected as we navigate this changing landscape together.
Regards,
Richard Smart, CEO