KPMG study shows further potential for wine sector
Vineland Station, Ont. – Ontario’s VQA wine sector will continue to be a major engine of economic growth for the province.
That’s according to a new KPMG study conducted for the Wine Council of Ontario, which reveals that the VQA industry – wines containing only locally grown grapes without foreign blends – has had consistent economic growth since 2007, despite overall slower provincial growth.
The report found that the economic impact of every litre of VQA wine sold has risen to $12.29, representing an almost 20-per-cent increase since 2007.
Other highlights include:
• VQA wine sales grew 51 per cent from 2007 to 2011, from $178 million to $269 million.
• The sector created 1,300 additional jobs during the same period.
• VQA exports from Ontario have risen 30 per cent in the past 10 years, and generated $37 million in sales in 2010.
• “Wine tourism” in Ontario is expected to grow by at least 20 per cent over the next five years.
“Even in the teeth of recessionary times, our VQA wine industry created jobs in manufacturing, construction and tourism – all the while preserving high-value agriculture in Ontario’s Greenbelt and contributing a set of steadily rising economic benefits to the entire province,” says Ed Madronich, chair of the Wine Council and president of Flat Rock Cellars. “Since 2007, few other industries can make the same claim.”
To read the full report visit www.winecouncilofontario.ca/Resources-Media/Reports-Studies