When Canada's economy began to plunge last year, many financial experts predicted a recession wouldn't last, as it was nowhere near as severe as the 2009 recession in the United States.

And even so, this was not a threat to the Canadian tourism industry — Americans and other travelers were visiting Canada in record numbers, making the most of their valuable dollars. There was also an emphasis placed on staycations for Canadians not wanting to travel to the States with a devalued dollar.

With the dawn of 2016, Canada's economy has yet to see a recovery. What does this mean for the tourism industry, and how will this impact new trends among tourists?

Last fall, the recession did not present such a gloomy image of the times to come. It was labeled a recession only in legal terms, as the gross domestic product had been in decline for two consecutive fiscal quarters. Financial experts and economists were certain there was nothing to worry about, as circumstances were not dire, and employment rates were still up.

However, almost unexpectedly, the Canadian dollar has continued to plunge. As the dollar hovers around the 70-cent mark, tourism providers are seeing a boom in last-minute bookings and souvenir sales.

In December alone, Montreal hotels made more than $40 million — this was a 9 per cent increase for the same time in 2014. The summer months were even more prosperous, seeing a 10 per cent increase.

Apart from tourists stretching their dollars as far as they can, they have done so on quite a luxurious level. Tour operators report that visitors are enjoying products and services they normally wouldn't have sprung for if the Canadian dollar's value was higher. Whether it is a fancy dinner or an expensive bottle of wine, tourists are finding "discounts" as high as 40 per cent.

But as the Canadian dollar continues to sink, the impact of American tourists has yet to be fully optimized. While tourism companies and operators have seen an increase in visitors, it was recently reported that Americans weren't even aware of the lower loonie.

Tourism experts in Nova Scotia and Cape Breton claim Americans aren't entirely aware of the current state of the exchange rate and Canada's economy, and believe that "for the most part, we aren't telling them." This begs the question, how many Americans are oblivious to our economy's perils?

Tourism providers have been thrilled with increased business in recent months, but imagine the untapped market to which tourism operators can appeal. There was definitely a buzz surrounding the declining economy to start last summer's tourism boom, but tourism marketers can use this reported lack of awareness to their advantage. It also opens up new avenues, should tourism providers want to expand their horizons in marketing to Americans not necessarily living in "border towns," but farther south.

But what about Canadian travelers? They shouldn't be left out of the equation. With the dollar remaining where it is, marketers must remember that Canadians looking to travel might just end up staying in their home country instead.

In one case, a family chose to forego their annual ski trip to Colorado when they realized the cost of staying at the same resort had increased by $3,000 from the year before. Instead, they settled for a staycation in Whistler, B.C.

Tourism marketers would be wise to create comparable vacations for Canadians in their own country, while adding their own twist in terms of originality. From coast to coast, there is much to be offered in terms of historical sites, cultures, traditions and food. And with the age of social media, some marketers are realizing that the perfect picture of a well-known food or activity can draw quite a crowd.

The top 10 shots of Vancouver on Instagram were recently featured on Tourism Vancouver's Insider blog. Visitors love to show off and share their experiences, regardless of their location.

A visual platform such as Instagram allows users to track their travels, regardless of the country they are visiting from. It also creates an advertisement of sorts for the restaurant or resort they have stayed at, broadcast to their friends list or set of followers. As it continues to grow, social media sharing will definitely play a part in many operators' ad campaigns in 2016.

For how long will the Canadian dollar continue to slide? What began as a technical recession has continued in a downward spiral, although Canada's tourism industry is still experiencing a boost in the number of visitors from home and abroad.

As winter ends and spring approaches, there will be new avenues for tourism providers to market — spring blooms and the now-hot Toronto Blue Jays, who picked up quite a few new fans and visitors last fall, to name a few. Not to mention, it will be interesting to see how statistics shape up when more Americans begin to realize the great deals they can get visiting north of the border.

Where do we stand now? Promoting our culture and all that Canada has to offer — both to Americans and travelers abroad, as well as to ourselves.