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NEW YORK – January 6, 2026 – Blackstone (NYSE:BX) announced today that it will host its fourth-quarter and full-year 2025 investor conference call via public webcast on January 29, 2026 at 9:00 a.m. ET.
 
To register, please use the following link: https://event.webcasts.com/starthere.jsp?ei=1748258&tp_key=b779ba06d9
 
For those unable to listen to the live broadcast, there will be a webcast replay on the Shareholders section of Blackstone’s website at https://ir.blackstone.com/.
 
The audio replay will also be available on our podcast channels, including Spotify, Apple Podcasts and SoundCloud, approximately 24 hours after the event.
 
Blackstone distributes its earnings releases via its website, email lists and Twitter account. Those interested in firm updates can sign up here to receive Blackstone press releases via email or follow the company on X (Twitter) @Blackstone.
 
About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to deliver compelling returns for institutional and individual investors by strengthening the companies in which we invest. Our over $1.2 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram. 
 
Contact
Blackstone Public Affairs
New York
+1 (212) 583-5263

Released: 2026-01-06

Tourism gross domestic product (GDP), in real terms, grew 0.9% in the third quarter of 2025, matching the pace set in the second quarter. By comparison, economy-wide real GDP by industry was up 0.5% in the third quarter, following a 0.2% decline in the second quarter. Tourism GDP accounted for 1.70% of nominal GDP in the third quarter, nearly unchanged from the second quarter (1.71%).

Tourism gross domestic product increases in all industry groupings

In the third quarter, growth in tourism GDP was mainly driven by increased activity in the accommodation (+1.2%) and transportation (+1.2%) industries. Food and beverage services (+0.5%), other tourism industries (+0.4%), and non-tourism industries (+0.8%) were also up in the quarter.

Total tourism spending rises

Total tourism spending was up 0.7% in the third quarter, compared with a 0.9% increase in the second quarter. Higher domestic (+0.5%) and international (+1.2%) tourism spending both contributed to the overall growth in the third quarter.

Accommodation services (+1.4%) was the largest contributor to growth in the third quarter, which was tempered by lower passenger air transport (-1.0%).

Tourism spending by international visitors is up across all tourism products

Tourism spending by international visitors was up in the third quarter (+1.2%), following a 5.6% decline in the previous quarter. Most tourism products registered gains in the third quarter, led mainly by vehicle rental (+5.1%), vehicle repair (+2.6%), and travel services (+2.6%). Meanwhile, accommodation increased 1.0% in the third quarter, after falling 6.4% in the second quarter.

International visitors’ share of tourism spending in Canada (22.3%) was virtually unchanged in the third quarter, after falling to its lowest level in over two years in the second quarter. As Canada-US trade tensions continued in the second quarter, fewer Americans travelled to Canada, while Canadian tourists travelled less to the United States and spent more in Canada.

Tourism spending in Canada by Canadian residents slows in the third quarter

Domestic tourism spending by Canadian residents was up 0.5% in the third quarter compared with a 2.9% increase in the second quarter. Gains in the third quarter were posted in accommodation services (+1.6%), pre-trip expenditure (+4.4%), and vehicle rental (+11.3%). The Canada Strong pass, valid from June 20 to September 2, likely contributed to a 3.9% increase in passenger rail transport.

Spending on passenger air transport decreased 1.6% in the third quarter, coinciding with lingering Canada-US trade tensions and cancelled flights due to the flight attendants’ strike in August.

According to the Canadian Survey of Consumer Expectations for the third quarter, 33.6% of Canadians planned on spending more while vacationing in Canada, and 53.1% of Canadians planned on spending less while vacationing in the United States.

Tourism jobs increase in the third quarter

The number of jobs attributable to tourism increased 0.6% in the third quarter of 2025, the same pace as in the second quarter. By comparison, the economy-wide number of jobs was down 0.3% in the third quarter.

All industries posted gains in the third quarter except for recreation and entertainment (0.0%), with food and beverage (+0.5%), accommodation (+0.7%) and non-tourism (+0.7%) industries contributing the most to the growth.

Tourism’s share of economy-wide jobs was 3.36% in the third quarter, slightly up from the second quarter (3.33%).

Looking ahead

The number of Canadian travellers returning to Canada by land and by air posted declines in both October and November 2025 compared to the same months of the previous year, according to leading indicators of Frontier Counts data.

Driven by growth in air travel, the number of non-resident travellers arriving in Canada increased in October. However, the number of non-resident travellers arriving in Canada by air and by land decreased in November.

Products

The Economic accounts statistics portal, accessible from the Subjects module of the Statistics Canada website, features an up-to-date portrait of national and provincial economies and their structure.

The Latest Developments in the Canadian Economic Accounts (Catalogue number13-605-X) is available.

The User Guide: Canadian System of Macroeconomic Accounts (Catalogue number13-606-G) is available.

The Methodological Guide: Canadian System of Macroeconomic Accounts (Catalogue number13-607-X) is available.

Contact information

For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; infostats@statcan.gc.ca) or Media Relations (statcan.mediahotline-ligneinfomedias.statcan@statcan.gc.ca).