Destination Vancouver says that by the summer of 2026, the city’s demand could be greater than its supply
The city’s tourism board says that visiting Vancouver could become harder in the coming years if the number of hotel rooms doesn’t go up.
A new study from Destination Vancouver, which came out on Monday, shows that the provincial economy could lose billions of dollars over the next few decades if there aren’t more hotel rooms in Metro Vancouver.
By 2050, 20,000 rooms are needed in Metro Vancouver to close the gap between supply and demand. Of these, 10,000 rooms are needed in the city of Vancouver alone.
The study, titled Hotel supply and projected demand in Metro Vancouver from 2023 to 2050: an economic analysis, Says that if those rooms aren’t built between now and 2050, it will cost the economy over $30 billion in lost output and $16 billion in lost GDP.
There would also be about $7.5 billion less in tax revenue for all three levels of government.
In the summer of 2026, there will likely be more people looking for rooms in Vancouver than there are rooms to rent. The rest of Metro Vancouver will be short by the summer of 2028, and the study shows that by 2040, the whole region will be short all year long.
The president and CEO of Destination Vancouver, Royce Chwin, said in a written statement that Metro Vancouver’s infrastructure is not keeping up with our global reputation.
“This is important because the Laver Cup, the Invictus Games, and the Grey Cup are all coming to our area in the next few years.” In 2026, we’ll be a host city for the FIFA World Cup, which is the largest single sports event in the world.
Lana Popham, who is in charge of tourism in B.C., was not surprised by the lack of rooms.
She said Monday that she is “very aware” of the problem. When she got her portfolio in December, it was one of the first things she talked about with her federal counterpart.
“I don’t think there’s an easy solution.”
The minister said that the federal government, First Nations, and city leaders need to work together on a plan for the future, especially since the 2026 FIFA World Cup will be held in Vancouver.