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Canadian tourism operators face heavy debt loads and struggle with rising interest rates.
Canadian tourism operators report heavy debt loads even as business recovers from COVID-19.
The industry has yet to reach pre-pandemic levels, and many businesses are struggling to cope with rising interest rates.
Tourism brought in $109 billion in revenue in 2021, but the federal government is urged to support the sector with a new low-interest loan program.
International visitor numbers remain below pre-pandemic levels, with tourists from the U.S. at 85% of 2019 levels and those from further afield at 78%.
As businesses rebound, rising interest rates have dampened enthusiasm and added to their debt burden.
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Los operadores turísticos canadienses enfrentan fuertes cargas de deuda y luchan contra el aumento de las tasas de interés.