TORONTO — Ontario’s travel industry proved its resilience this year, pushing through global uncertainty and affordability pressures to generate $18.4 billion in gross sales, up from $18 billion a year earlier.

That was one of the key takeaways from the Travel Industry Council of Ontario’s 2026 Annual General Meeting, held virtually on Sept. 22, where TICO also highlighted progress on Auditor General recommendations, a rise in consumer complaints and continued enforcement against unregistered operators.

“The headline is that Ontario’s travel sector remained resilient, demand stayed strong, businesses continued to adapt and Ontario gross sales increased to an aggregate $18.4 billion,” TICO CEO Richard Smart told attendees.

He acknowledged that strong sales did not mean the year was without challenges, pointing to affordability concerns, global uncertainty, trade issues and travel disruptions as factors creating “an increasingly complex and volatile environment” for consumers, travel agencies and tour operators.

Consumer confidence in Ontario’s regulated travel sector also remained strong, according to TICO survey findings. About 75% of Ontarians surveyed said TICO’s services were valuable to them, while 80% said they would choose to book with a TICO-registered business to benefit from Ontario’s consumer protection framework, provided pricing was comparable with other options.

“These findings tell us that protection and confidence remain important factors in the travel purchasing decision,” Smart said. 

91% OF AUDITOR GENERAL ACTION ITEMS COMPLETED

TICO also used the AGM to update the industry on its response to the Auditor General of Ontario’s 2023 performance audit.

Smart said 91% of the action items directed specifically at TICO have now been completed, with work underway on one remaining item. That compares with 74% completed at the time of the Auditor General’s follow-up report in December 2025.

“Our focus has been practical improvements that make it easier for consumers to understand their consumer protection rights and verify whether a business is registered with TICO, while focusing our regulatory efforts on areas that need it the most, including risk-based compliance,” he said.

Stephen Crawford, Minister of Public and Business Service Delivery and Procurement and MPP for Oakville, also pointed to that progress in a video message opening the AGM.

“TICO plays an essential role in protecting Ontario consumers and supporting a trustworthy travel marketplace,” Crawford said, noting that the organization regulates approximately 1,900 travel agencies, booking websites and tour operators. 

“Whether people are booking a family vacation, a business conference or the trip of a lifetime, they want the confidence that their investment is protected and that the level of travel service they purchase will be delivered as promised. That is where TICO makes a difference.”

COMPENSATION FUND REACHES $25.5 MILLION

TICO’s Compensation Fund paid 65 claims benefiting 641 consumers during the year, totalling nearly $144,000.

The fund ended the year with a balance of $25.5 million, up from $24 million the previous year.

TICO itself reported revenues of $7.9 million, compared with $7.8 million a year earlier. Approximately half came from annual renewal payments, while investment returns also contributed to revenue.

Expenses increased about 6% to just over $6.3 million, which Smart attributed largely to planned investments in TICO’s workforce and emerging technologies. The organization finished the year with a small operating surplus, which will remain in reserves.

A DIP IN REGISTRANT NUMBERS 

Sanja Skrbic, TICO’s Chief Financial & Administrative Officer and acting registrar, reported that TICO’s registrant base remained relatively stable during the fiscal year.

As of March 31, 2026, there were 1,870 registrations, down 1.3% from 1,894 a year earlier. TICO recorded 153 voluntary terminations, compared with 141 the previous year, while processing 129 new registration applications, an increase over the previous two years.

“It’s encouraging to see new businesses continue to enter the travel marketplace,” Skrbic said. 

Written complaints, however, moved in the opposite direction.

TICO received 136 written complaints during the year, up from 116, while phone and email inquiries climbed to nearly 3,000 interactions. Complaints commonly involved refunds, invoicing, tickets not being issued and cancellations.

Skrbic said 100% of respondents to TICO’s post-complaint survey reported being satisfied with how their complaint was handled and with the service received from TICO complaint officers. 

ENFORCEMENT ACTIVITY INCREASES

TICO also stepped up enforcement during the year.

All active registrants have now been assigned a risk score, while an updated inspection policy is being used to target regulatory oversight where TICO believes it is most needed.

The regulator issued 130 warnings for operating without registration, compared with 143 the previous year, and laid more than 100 charges, up from 80.

More than $126,000 in fines were imposed through the courts, nearly $500,000 in restitution was ordered and offenders received a combined 26 years of probation and 22 months of jail time.

“While it’s never our first choice, enforcement plays an important role in maintaining a level playing field and supporting consumer confidence in Ontario’s travel industry,” Skrbic said. 

“Enforcement is one part of our broader strategy that includes education, guidance and risk-based oversight. Together, these efforts help strengthen consumer confidence, support compliant businesses and contribute to a healthy and competitive travel marketplace.”

NEW ADVISOR CERTIFICATION SHOWS EARLY RESULTS

Education remained another major focus, including the rollout of TICO’s enhanced certification program for new advisors.

The new program is a fully interactive online learning experience, and Skrbic said more than 90% of students who completed it reported feeling well prepared to apply what they learned in their work.

During the fiscal year, 8,200 certification exams were written, about 9% fewer than the previous year. TICO attributed the decline to a normalization toward pre-pandemic levels following a period when the travel industry was rebuilding staffing capacity. 

Smart said the revamped program has also resulted in improvements in overall satisfaction and first-time pass rates.

NEW BOARD MEMBERS ELECTED

The AGM also included elections for two positions on TICO’s Board of Directors.

Leo Sgovio, Owner of Markham Cruise and Travel Centre, was elected to the industry position for a three-year term.

Christopher Warren was confirmed for another three-year term as a public director after the Governance and Nominations Committee determined that his legal, financial literacy, risk management and technology experience aligned with the board’s current needs. 

Outgoing directors Robert Townshend and former board chair Michael Levinson were recognized for their service.

Andrew Gibbons, Chair of TICO’s Board of Directors, said the organization is operating in an environment shaped by economic pressure, global uncertainty and changing consumer expectations, making continued engagement with the industry increasingly important.

“As consumer expectations and industry operations continue to change, it’s important that TICO evolves as well, while remaining grounded in its core responsibility of consumer protection,” he said.

Lead image caption: Richard Smart, CEO of TICO, speaks at TICO’s AGM, Sept. 22, 2026