Investing in Tourism and Small Business Growth in Prince Edward Island
Charlottetown, PEI – November 22, 2024 – The Government of Canada is investing in tourism and small business growth in Prince Edward Island (PEI). Today, the Honourable Bardish Chagger, Minister of Small Business and Tourism, announced $10 million in funding for a new tourism development fund.
The fund will provide financial assistance to businesses and organizations that are working to develop and promote new tourism products and experiences in PEI. This could include projects such as:
- Developing new tourist attractions
- Expanding existing tourism businesses
- Creating marketing campaigns to attract more visitors to the Island
In addition to the tourism development fund, the Government of Canada is also investing $5 million in the PEI Business Development Centre. This funding will help the centre provide business support services to small businesses, including:
- Business planning and advisory services
- Access to financing
- Marketing and sales training
“Our government is committed to supporting the growth of the tourism and small business sectors in Prince Edward Island,” said Minister Chagger. “These investments will help to create jobs, boost the economy, and make PEI an even more attractive destination for visitors.”
The tourism and small business sectors are important drivers of the PEI economy. In 2023, tourism contributed $500 million to the Island’s GDP and supported over 10,000 jobs. Small businesses make up 98% of all businesses in PEI and employ over 40,000 people.
“We are grateful for the Government of Canada’s investment in tourism and small business growth in PEI,” said Premier Dennis King. “These investments will help us to build on the Island’s strengths and create a more prosperous future for all Islanders.”
The tourism development fund and the PEI Business Development Centre are part of the Government of Canada’s Innovation and Skills Plan, a multi-year plan to invest in Canadians and help them succeed in the global economy.
Investing in Tourism and Small Business Growth in Prince Edward Island
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