Message from the Registrar
"Consumer and industry demand for travel is promising and the opportunities ahead are boundless."
Richard Smart
More and more as we approach the anniversary of the global pandemic, signs of economic recovery are on the horizon. Consumer and industry demand for travel is promising and the opportunities ahead are boundless. However, before we return to this ‘new normal’ there will be challenges in the short-term. We may need to take a step back to propel us into the future.
At the time of writing this Ontario is experiencing a clear decline in the number of new COVID-19 cases and Ontario’s vaccine roll-out is just beginning to accelerate. Consumer confidence is edging up at a score of 91 out of 100, and the Conference Board of Canada reports that January’s national index is the highest it has been since the start of the pandemic last March. While still lower than pre-pandemic levels, Canadians are becoming more comfortable with their finances with the prospects of eventually returning to a degree of normality. Ontario’s consumer confidence however will likely continue to lag national figures as Ontarians grapple with the lingering impacts of the recent province-wide lock down.
In November 2020, new regulatory announcements were announced to offer further support to registrants and consumers. A combination of temporary and permanent regulatory changes will help registrants by reducing financial burden while also providing additional consumer protection concerning unredeemed travel vouchers. In addition, the one-year fee waiver for all registrants for amounts owing through March 31, 2021 has assisted registrants with reducing costs during this period of crisis.
Throughout the pandemic TICO staff have been committed to working with registrants through these hard times. We have remained flexible and have maintained a focus on the regulatory and travel environment while responding to an extraordinarily high volume of consumer and registrant interactions. More recently, we relaunched our consumer and registrant awareness initiatives with the goal of providing leadership and important direction to assist with restoring consumer confidence. There has already been a considerable toll on travel agencies and tour operators. This year will mark a record number of voluntary closures since the inception of TICO. We have also seen far more new registrations than anticipated, a positive sign that opportunities lie ahead.
No doubt the remaining winter months and early Spring will continue to be a challenging period for consumers and industry. As has been said many times before, the travel industry is resilient and Ontarians are increasingly looking forward to travel in the near future. The Ontario government and TICO remain optimistic and continue to explore all means to ensure a strong consumer protection model and travel industry.
I hope you enjoy this version of TICOtalk. Of note is the focus that our team has undertaken on Black Lives Matter and BIPOC initiatives. One outcome of these efforts is the enhancement of our Core Values to clearly express TICO’s commitment to diversity and inclusivity. There is much more to do in this area, but this is one step in the right direction. I hope you enjoy the pages ahead. On behalf of the entire team at TICO, we continue to wish you and your families continued health and safety as we look forward to sunnier days.