Madam Speaker, I am happy to participate in this debate on the bill to reorganize the Department of Industry. The red book foreshadowed this bill. Like this bill its main focus was on small and medium sized businesses as a determining factor in turning around the Canadian economy. It acknowledged that the growth of these firms is essential to creating jobs for all Canadians.
Several initiatives have been announced as part of the small and medium enterprise agenda. A new fund has been established to help expand existing businesses through the Federal Business Development Bank. As well, the Canada Community Investment Fund has been announced to ensure equity financing for smaller firms.
Part of the role of this bill is to focus on the importance of tourism to the Canadian economy. It must be recognized that the money government puts into tourism we get back within 90 days. We get this money back not tenfold but many times that rate.
In 1992 as an example, tourism generated $28 billion in sales revenue for Canada. In the same period the federal government through Industry Canada had a tourism budget of $23.2 million. Every federal dollar spent on tourism contributed $1,201 in sales revenue in Canada in 1992.
Canada's tourism industry also had a significant impact on our current account, contributing $8 billion a year. Tourism employs more than half a million Canadians directly and generated jobs faster than the economy as a whole over the past decade. It is an industry to be recognized. As well, the analysis shows that tourism affords solid opportunities for income and employment generation in all regions of Canada. Current favourable economic conditions offer an excellent opportunity to exploit more fully Canada's international competitive advantage, its clean, safe, natural environment and support industry efforts to attract more international tourists, thus increasing revenue for Canada.
It is my belief that the tourism industry affords an opportunity to provide entry level work and job experience for young Canadians and for groups that traditionally have had more difficulty obtaining employment. Almost 40 per cent of the people working in tourism are under the age of 25, nearly double the proportion of young people in the general labour force.
The tourism industry is also an important provider of jobs to the unemployed. It is a stepping stone for back to work after unemployment, particularly for the young. Sixty per cent of the people who get work in tourism get that work after a period of not working and are under the age of 25.
This government recognizes the importance of this industry and we support it accordingly. The support is shown by the Prime Minister's initiative and appointment of the Hon. Judd Buchanan to work with the government and the private sector to make recommendations on how to increase Canadian tourism and revenues.
I had the opportunity to meet with Mr. Buchanan to discuss tourism concerns in my area of the country and I look forward to Mr. Buchanan's recommendations which I understand are to be made public soon.
In my riding we have the basis for creating an excellent tourism industry. Essex county and the city of Windsor have a wide degree of tourism oriented businesses. We have such historical sites as the Park House, Fort Malden, the North American Black Museum and additional historical sites that are being developed such as the Gordon House and HMS Detroit . As well everyone has heard about the opening of the casino in Windsor. It was expected and is bringing hundreds of thousands of new visitors to the area so far and will continue to do so we hope every year.
As well the recent acquisition of Boblo Island by a local developer who is interested in working with the community to create a year round tourism facility with year round employment opportunities should provide excellent opportunities for the area. Most important our area is bordered on three sides by natural waterways affording numerous recreational opportunities including one of Canada's most beautiful national parks, Point Pelee.
What is needed to create a sustainable tourism industry in our area is a strategic plan. The reorganized Department of Industry will be well positioned to create such an over-reaching strategic plan. I look forward to the announcement of measures in this area.
It has been my privilege to have the opportunity to participate in this debate.