How Big is Halloween in Canada? The Economic Impact Examined
Halloween, a celebration traditionally associated with ghost stories, costumes, and trick-or-treating, has become a significant cultural and economic event in many parts of the world, including Canada.
Let’s look at how big Halloween has become in Canada and explore its economic impact.
The Rise of Halloween in Canada
Halloween has a long history, with origins tracing back to the ancient Celtic festival of Samhain, in which people would light bonfires and wear costumes to ward off ghosts.1 Over time, it has evolved into a modern-day celebration.
In Canada, Halloween’s popularity has been on a notable rise. While it has always been celebrated to some extent, its commercial aspects have grown significantly in recent years. According to the Canadian Encyclopedia, Halloween was estimated to be a $1 billion industry in 2014, making it the second most commercially successful holiday after Christmas.2
The Economic Impact of Halloween in Canada
Retail spending is one of the most direct indicators of Halloween’s economic impact. Canadians spend a substantial amount of money on Halloween costumes, decorations, candy, and other related items. On average, Canadians spend about $64 on these items.3 The value of the sales of cookies, candy, and snack foods in October 2017 was over $550 million.4
The economic impact of Halloween is felt across multiple sectors in Canada, including the following:
- Haunted houses and attractions
- Parties and social gatherings
- Pumpkin patches and festivals
- Scary movies
Halloween’s Impact on Various Sectors
The economic impact of Halloween in Canada is felt across multiple sectors:
Retail Sector
As previously mentioned, retailers benefit significantly from Halloween-related sales. This includes large chain stores and small local businesses.
Entertainment and Hospitality
The entertainment and hospitality industries see increased business due to Halloween events, parties, and gatherings.
Agriculture
Pumpkin farms and orchards experience a boost in business during the Halloween season as people flock to these locations to pick out pumpkins for carving and decorating.
Manufacturing
Various manufacturers produce costumes, decorations, and candy, contributing to the economic activity and employment in this sector.
Online Shopping
With the rise of e-commerce, online shopping has become an important aspect of Halloween spending. Many Canadians turn to online retailers for costumes, decorations, and party supplies.
Halloween in Canada is more than just a night of spooky fun; it has become a significant cultural and economic event. The holiday generates substantial retail spending, boosts various sectors of the economy, and fosters community spirit.
- https://www.history.com/topics/halloween/history-of-halloween
- https://www.thecanadianencyclopedia.ca/en/article/halloween
- https://leger360.com/halloween-habits-and-spending/
- https://www.statcan.gc.ca/en/dai/smr08/2018/smr08_227_2018
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Ivy Pierson, CEP, MBA Investment Advisor Representative Securities and advisory services offered through Cetera Advisors LLC (doing insurance business in CA as CFGA Insurance Agency LLC), member FINRA/SIPC, a broker/dealer and a Registered Investment Adviser. Cetera is under separate ownership from any other named entity. Pierson Wealth Management is located at 28368 Constellation Rd., Ste. 396, Santa Clarita, CA 91355. CA Insurance Lic#0C92500. All investing involves risk, including the possible loss of principal. There is no assurance that any investment strategy will be successful