Last week Brock University released a policy brief outlining the economic impact, about a half a billion dollars, the post-secondary school has on Niagara. The document was developed by Niagara Community Observatory and the numbers were impressive. While Brock is often top-of-mind, and deservedly so, for the contributions it makes to Niagara, the tourism sector is often overlooked or not seen in the same positive light as a post-secondary institution. This is despite the fact that its economic impact is staggering. It’s also a business sector built by business people and entrepreneurs investing their own money to help grow the local economy.
Niagara Falls restaurant and hotel owner, Rick Dritsacos, points out that Niagara has an interesting advantage with having a university, college and a sector that employs thousands of people that are high school and post-secondary ages. “The highest unemployment rate in Canada is that age range of 18 to 24; those kids who are trying to earn money to pay for schooling,” Dritsacos explained. “In Niagara, the hospitality and tourism sector provides hundreds of jobs that give students the opportunity to pay for their tuition and meal plans so they can attend great places to learn like Brock and Niagara College.”
According to the Region’s Economic Development Department’s research, the tourism industry in Niagara is home to 2,500 businesses and employs 36,500 people. Each year, on average, more than 12 million tourists visit Niagara spending close to $2 billion.