The largest review of funding and fees for Ontario’s travel industry since the inception of the Travel Industry Council of Ontario (TICO) in 1997 is nearing completion, but registrants will have to wait a little longer for the results.

“We understand the industry’s keen anticipation for the review’s outcome,” says TICO CEO Richard Smart. “While we are equally eager to disclose the findings, we are currently finalizing our fee review analysis (business case), which will be submitted to the Ministry of Public and Business Service Delivery prior to launching consultations. It would be premature to share incomplete information at this stage.”

Last fall, TICO initiated the comprehensive review, appointing consulting firm Optimus SBR to lead the process, which covers TICO’s funding framework for regulatory services, the Compensation Fund, and associated contributions. Feedback was also gathered from stakeholders, registrants, and Ontario consumers.

At the conclusion of the review in the spring, Optimus SBR prepared its recommendations, which will form the foundation of a business case (subject to final approval by TICO’s Board of Directors) that will be submitted to the Ministry of Public and Business Service Delivery.

TICO notes that any changes to registrant fees must follow a thorough process and criteria, as outlined in the Administrative Agreement (Agreement) between TICO and the ministry, and maintains that the future funding model “will be premised on a set of well-founded guiding principles that strive to achieve fairness, simplicity, efficiency and enhanced transparency.”

Further, a comprehensive consultation is expected to begin this fall that will invite all registrants and stakeholders to provide their feedback to TICO through both in-person and virtual sessions. Details will be shared in advance.