coronavirus pandemic.Border closures, restrictions and ultimately trip cancellations have led to the permanent closure of a number of travel agencies in Ontario.“Over the last five years, we had 2,500 agencies in the province.
That number has been declining steadily over the years as a result of new business models,” said Richard Smart, the CEO of the Travel Industry Council of Ontario (TICO).“However, in the last year, the floodgates opened.
We’ve seen about 10 per cent attrition, that’s about 250 to 300 agencies and branches close business this year.”TICO regulates and oversees the travel industry for Ontario including travel agencies, agents and tour operators.Smart said a number of agencies have been working in the red.“Consumers are.