Trump: New travel barriers for Canadian tourists, the biggest source of US tourism. Expect impact on airlines, hotels, retail, restaurants
Today the Trump administration announced new visitation barriers for Canadian tourists. Any tourists staying longer than 30 days must register and provide fingerprints to authorities. Canadians were the only country that was previously exempted from this rule.
It seems like Canadian negative sentiment against the US over enacting a trade war and threatening to annex the country, combined with today's additional security clearances and steps needed to travel to the US will have a negative impact on US tourism outlook
**Canadians were the largest visitors to the US comprising of \~30% of all US tourist visits in 2023.**
I'm bearish for Q2, Q3, and potentially Q4 for the following industries
* **Hotels:** Marriott, Hilton, Hyatt, Air Bnb, Caesars Entertainment
* **Airlines:** American, Delta, United, Air Canada,
* **QSRs:** Darden Restaurants, Texas Roadhouse, Brinker International (food chains primarily with US locations attract tourists due to the novelty factor of not being able to go in Canada)
* **Amusement Parks**: Disney, Six Flags, Cedar Fair, United Parks & Resorts
* **Car Rentals:** Enterprise, Hertz, Avis
* **Retail**: TJX Companies, Ross, Macys, Kohls, Target (retail stores with no presence in Canada are often attract tourists who are interested in shopping at retail stores they can't back in Canada)
* **Energy**: Shell, Chevron, Exxon (lots of Canadian tourists do road trips and gas up in the US, but since these companies also operate in Canada and Canadians are just going to replace their US road triups with Canadian ones, I do not believe they will be impacted
Sources:
[https://www.cp24.com/politics/2025/03/12/us-hardens-rules-for-visiting-canadians/](https://www.cp24.com/politics/2025/03/12/us-hardens-rules-for-visiting-canadians/)
[https://www.statista.com/statistics/1419057/share-inbound-tourist-arrivals-us-by-country/](https://www.statista.com/statistics/1419057/share-inbound-tourist-arrivals-us-by-country/)
[https://www.uscis.gov/alienregistration](https://www.uscis.gov/alienregistration)
