Domestic expenditures are on the rise.
This, in combination with last year's rise in tourism expenditures, bodes well for Canada's tourism sector this year. According to the latest Global Economic Outlook from Scotia Economics, global growth should broaden and deepen between 2000 and 2001 as overseas activity speeds up and the U.S. economy slows down. American interest rates will likely increase in the first half of this year. Although Canada's economic performance has been encouraging lately, the '90s have been the worst decade post the World War II period, say TD economists in their latest report, Better Prospects for Canada's Economy in the Next Decade. Canada's economic growth was dampened by cutbacks in government spending, high real interest rates and a rising tax burden on consumers.