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In the nearly six weeks since declaring a state of local emergency and shuttering all non-essential businesses, the economy in Banff has been at a standstill.
Normally, tourists would be flocking in droves to the mountain destination — at this time last year, the town’s main concern was finding enough parking spots. Now, Banff streets are eerily quiet and RCMP checkstops occupy the two main entrances to town.
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Economy in Banff has ‘collapsed’ as COVID-19 effectively eliminates tourism industry Back to video
“Our economy is basically 90 per cent based on tourism, directly and indirectly, so our town has ground to a halt. It’s a very serious situation,” said Jason Darrah with the Town of Banff.
The effect of the COVID-19 crisis on Banff has far wider effects. Annually, on average, Banff’s tourism industry contributes more than $3 billion to the provincial economy. Nearly $470 million in federal and $250 million in provincial tax is generated from the town.
From April 2018 to March 2019 more than four million people visited Banff National Park, with more than 80 per cent of those visiting the town, Darrah said.
