Canada’s Minister of Women and Gender Equality and Secretary of State (Small Business and Tourism), the Honourable Rechie Valdez was in Toronto late last week to announced that the federal government would be providing $15 million over three years for the International Convention Attraction Fund (ICAF).
Minister Valdez – accompanied by Parliamentary Secretary Karim Bardeesy and Destination Canada (DC) President and CEO, Marsha Walden – observed that:
“Canada has what the world wants: dynamic cities, world-class venues, and unforgettable experiences. When we attract major international events, we bring high-value visitors into our communities who stay in our hotels, eat in our restaurants, shop at local businesses, and support good jobs.”
Of note here is that travellers attending business events and conferences spend roughly double what leisure travellers spend.
Leading Minister Valdez to point out that: “This investment will help more Canadian destinations compete and win on the global stage, while boosting local economies and strengthening Canada’s tourism sector year-round.”
Launched in March 2024, the ICAF is administered by DC and aims to enhance the competitiveness of Canadian destinations to attract high-value international events. Through this initiative, DC works with destination marketing organizations to strengthen their bids to host major international events that align with Team Canada’s economic priorities.
Since 2023, the federal government has invested $60 million into ICAF. As of March 2026, ICAF has helped Canadian destinations secure 116 events that will attract approximately 324,224 attendees and make a direct economic impact of $803.3 million for local communities.
Canada’s tourism sector supports more than 2.1 million jobs and strengthens local communities. In 2024, the sector added over $50 billion to gross domestic product and generated over $129 billion in revenues.
