Major festivals and events across Canada will receive federal funding to draw tourists and boost tourism. "Marquee events" such as the Toronto International Film Festival, Caribana, Ottawa's Tulip Festival, the Calgary Stampede and other events could be eligible to apply for a $3 million per year fund. Many travellers are scaling back or canceling vacation plans amid the economic uncertainty. With summer bookings down 10% and the industry bracing for further declines, the two-year funding program will provide a much-needed stimulus that will also have postitive spinoffs for the local restaurants, businesses and other local attractions.
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