Report on Annual Expenditures for Travel, Hospitality and Conferences 2023-2024
As required by the Treasury Board Directive on Travel, Hospitality, Conference and Event Expenditures, this report provides information on the total annual expenditures for each of travel, hospitality and conferences for Invest in Canada for the fiscal year ending March 31, 2024.
Expenditures on travel, hospitality and conferences incurred by Invest in Canada are related to activities that support its mandate and the government's priorities.
As outlined in the Invest in Canada Act, for the purpose of supporting economic prosperity and stimulating innovation in Canada, Invest in Canada’s mandate is to:
- Promote foreign direct investment in Canada and attract and facilitate that investment; and,
- Coordinate the efforts of the government, the private sector and other stakeholders with respect to foreign direct investment in Canada.
Total Annual Expenditures for Travel, Hospitality and Conferences
| Expenditure Category | Expenditures for the year ending in March 31, 2024 | Expenditures for the year ending March 31, 2023 |
|---|---|---|
| Travel - Public Servants | $ 1,010 643 | $ 1,166,060 |
| Travel - Non Public Servants | $ 6,843 | $ 0 |
| Total Travel | $ 1,017,486 | $ 1,166,060 |
| Hospitality | $ 89,678 | $ 160,254 |
| Conference Fees | $ 23,411 | $ 32,594 |
| Total Hospitality and Conference Fees | $ 113,089 | $ 192,848 |
Significant Variances compared to the previous year
During the fiscal year ending March 31, 2024, Invest in Canada’s travel, hospitality and conferences fees decreased by approximately 17% compared to prior year. The decrease is mainly related to Invest in Canada implementing a more focused approach to its operations by targeting key markets and a realignment of the services the organization provides.
Travel:
As a result of Invest in Canada’s greater focus on Canada’s strategic priorities and the realignment of the services the organization provides, efficiencies were achieved mainly by engaging in travel that is in direct support of targeted key markets and its revised services structure. As a result, travel decreased by approximately 13% compared to prior year.
Hospitality:
As a result of Invest in Canada’s greater focus on Canada’s strategic priorities, efficiencies were achieved mainly by engaging in hospitality that is in direct support of targeted key markets. As a result, hospitality decreased by approximately 44% compared to prior year.
Conferences:
As a result of IIC’s greater focus on Canada’s strategic priorities, efficiencies were achieved mainly by participating in conferences that are in direct support of targeted key markets. As a result, travel decreased by approximately 28% compared to prior year.