Holiday Spending Could Inject $13 Billion into Canada’s Economy
BDC urges Canadians to boost local purchases this season—without spending more.
MONTREAL, Nov. 27, 2025 (GLOBE NEWSWIRE) -- Canadian households are gearing up to spend an average of $943 on holiday purchases this year, according to a BDC survey conducted November 12–16. Currently, 59% of that budget ($553) is expected to go toward Canadian products and services—contributing an estimated $11 billion to Canada’s GDP, and supporting 45,000 jobs.
The opportunity is clear: while only 17% plan to increase their overall holiday spending, 46% of Canadians plan to increase spending on Canadian products and services this year. This shows the movement isn’t about spending more—it’s about shifting priorities to support local businesses. And the motivation is strong: 63% say the reason they want to buy Canadian products and services is primarily to support Canadian businesses and the economy.
According to BDC, by redirecting just $100 more of their existing holiday budget to Canadian products, households could raise their local share to $653, boosting the impact to $13 billion and supporting 55,000 jobs.
“Every local purchase strengthens our economic fabric,” says Pierre Cléroux, Vice President, Research and Chief Economist at BDC. “It’s a gift that truly keeps on giving.”
Top categories for Canadian holiday purchases include:
- Food and beverages: 54%
- Clothing and accessories: 39%
- Gift cards for local shops and restaurants: 34%
- Experiences and entertainment: 27%
Why It Matters
The holiday season accounts for nearly 20% of annual retail sales (excluding vehicles, building materials and gas), and up to 26% for jewellery and leather goods. “For many small businesses, the holiday season is critical to their annual profitability,” says Pierre Cléroux. “It’s the perfect opportunity to support them while giving meaningful gifts.”
How to Make an Impact
- Choose Canadian-made gifts, decorations, and local food products.
- Explore local businesses and visit artisan markets.
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If you’re short on inspiration, think gift cards for local shops and restaurants.
“Giving a gift card from a local business is more than a present, it’s an immediate lifeline for entrepreneurs. It provides cash flow today, helping them navigate the holiday season and start the new year strong.” – Pierre Cléroux
Together, we can turn holiday spending into a powerful boost for Canada’s economy—without spending a dollar more.
About BDC: 80 years as Canada’s bank for entrepreneurs
BDC is a partner of choice for all entrepreneurs looking to access the financing and advice they need to build their businesses and tackle the big challenges of our time. Our investment arm, BDC Capital, offers a wide range of risk capital solutions to help grow the most innovative firms. BDC’s development role means we are in a state of perpetual evolution – wherever entrepreneurs go and whatever the Canadian economy needs – we will be there to help them defy the odds. 80 years later, that commitment remains very much alive. Our financing and investments in fiscal 2025 will add an estimated $25 billion to Canada’s GDP over the next five years. We are one of Canada’s Top 100 Employers and Canada’s Best Diversity Employers, and the first financial institution in Canada to receive the B Corp certification in 2013. For more information on our products and services and to consult free tools, templates and articles, visit bdc.ca or join BDC on social media.
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