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How Banff’s champagne powder and the low loonie are helping Alberta battle recession

Alberta's provincial government is looking to tourism to help offset a devastating oil and gas slump, aiming to boost revenue from visitors to the province by about 25 per cent to more than $10 billion by 2020.

On Alberta’s mountainous western edge, champagne powder, hot springs and evergreen forests are enhancing the Canadian province cushion the pain of the oil-induced recession.

How Canadian snowbirds feel the pinch of the falling loonie: ‘There are no deals anymore’


Even Harry Rosen can’t help but keep one eye on the falling loonie nowadays. The 84-year-old founder of the iconic Canadian high-end designer clothing store chain that bears his name is among millions of Canadian snowbirds watching their expenses go up

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Banff National Park is on the right track for record attendance this season as Canada’s oldest park adds new attractions such as heated ski chairlifts and ladders to help climbers scale the peaks. Nearby, the story-book castle that’s home to the Banff Springs Hotel is packed with tourists from around the world. It’s a rare source of positive news inside a Canadian province whose economy is forecast to contract for a second year in 2016.

“The mountain parks are undoubtedly the busiest parks, with Banff undoubtedly getting the most critical tourist use,” said Daniel Watson, ceo of Parks Canada, the government agency that oversees the world’s largest park system, by phone from Ottawa. “Canada has truly some of the most remarkable places on earth.”

With Alberta’s oil-driven economy suffering from a large number of job losses, billions of dollars of foregone investment and little prospect of the return to the boom days of yesteryear decade, a 17 per cent slide within the Canadian dollar over the past 2 yrs is stoking tourism — and the long-standing debate over development versus conservation in Banff, a UNESCO World Heritage Site.

Unlike Alberta’s main oil industry, which makes up about one fourth of the provincial economy and it has attracted more than $100 billion in investment in the last decade, Banff has been careful to develop at a slower pace. Established in 1885, the park hosts about 80 grizzly bears, elk and alpine wildflowers.

It’s been slowly introducing new adventures for tourists. Attendance is expected to rise 7.4 per cent to three.86 million tourists in the entire year ending March 31, 2016 following a 10 % rise in the year before, according to Parks Canada projections. That’s probably the most since a minimum of 2000 once the federal agency changed the way it counted visitors.

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