Canada Emergency Wage Subsidy
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Impact of COVID-19 on the Canadian Economy & Consumer Sentiment
Canada Emergency Wage Subsidy
The Canada Emergency Wage Subsidy (CEWS) supports employers that are hardest hit by the pandemic and protects the jobs Canadians depend on.
The subsidy covers 75% of an employee's wages – up to $847 per week - for employers of all sizes and across all sectors who have suffered a drop in gross revenues of at least 15 per cent in March, and 30 per cent in April and May.
The program will be in place for a 12-week period, from March 15 to June 6, 2020.
Impact of COVID-19 on the Canadian Economy and Consumer Sentiment, Destination Canada (as of March 30, 2020)
Destination Ontario shared with many tourism organizations the document (see link below), “IMPACT OF COVID-19 ON THE CANADIAN ECONOMY AND CONSUMER SENTIMENT – as of March 30, 2020. “To understand the consumer mindset and to inform marketing recovery strategies, Destination Ontario has access to various confidential and publicly available economic and public attitude and behaviour research studies. The core of the information is from economic models and consumer sentiment research studies that are structured to better understand when and where to re-engage visitors to think about travelling and with what messaging. Attached for your information are key findings from that research. It contains information on forecasted economic outcomes, a micro-economic outlook, a travel outlook and media consumption information.”
A lot has happened since March 30th and, as Destination Ontario has pointed out, the information in the attached document should be treated as a snapshot in time. I encourage all readers to use the information in this document to inform their recovery efforts. Please keep in mind though that this is a very volatile time in our country and economy and there will be many more changes to be experienced in the future that may affect your planning. As the saying goes ‘Information is power’, collect as much information as possible, give yourself the power to make the decisions that are best for your recovery. I am very grateful to Destination Ontario for providing this very valuable data.
We will keep you informed of further major happenings as they become known. Staying informed, applying and monitoring continuous sanitary practices in both the workplace and at home are important steps to weathering this difficult period of time.
RTO7, with support from the Provincial Government and their agencies and our many partners across the region, are committed to providing you, the stakeholders, with as much support as we can.
Staying informed is a positive step to keeping our tourism industry strong. Please share these communications with your staff and peers. We encourage you to recommend to your fellow stakeholders to subscribe to RTO7’s newsletter to ensure they receive these updates. Visit RTO7.ca and click on “ARE YOU ON OUR MAILING LIST? SIGN-UP” or click on this link.
We will keep you informed as new and timely information becomes available.
