I'll be about one more minute.
Other reasons for the decline include, obviously, the cost of fuel and lingering confusion about the official documents required for U.S. entry. Passports, economic uncertainty, high fuel prices and declining purchasing power all make for powerful reasons why Americans are staying home rather than flying to Canada.
The U.S. consumers whom the CTC targets pay less attention to these factors. One issue that is of concern to all markets, not only Japan or the U.S., is air service. For an overseas destination like Canada, the right flight at the right price is critical in order to compete. On this front, Canada has not been doing well. For example, direct flights between South Korea and Canada are at capacity in the peak season. In Australia, we need to keep up the seat capacity secured by our competitors. Out of Japan, Canada is seeing tighter direct seat availability in the busy spring and summer months. Again, this is a market where competition is aggressively growing its air capacity.
In conclusion, I would offer that the CTC has the right strategy and the right partners to ensure that our country is marketed and sold effectively in nine countries that span the globe. However, there are indeed competitiveness challenges and policy issues that make marketing Canada to the world an increasingly difficult challenge.
If some of these issues were addressed, it would increase our ability to compete globally. Collectively, we need to work to ensure that the CTC and Canada's tourism industry are equipped to compete in the competitive global environment that exists today.
Thank you.