[Survey] 40.4% of Canadians say they plan to go on vacation this summer, despite inflation
With summer vacation fast approaching, how are Canadians planning their summer vacations? To find out, we conducted a survey on our site between May 1 and 31 2024, in which 1,045 Canadian residents took part. The results show a renewed enthusiasm for vacationing, despite inflation still weighing on household budgets.
- This 2024 summer, 40.4% of Canadians say they plan to go on vacation - 15 points more than last year, while 35.1% say the won't
- Almost 31% of Canadians say they intend to spend their summer vacation in their own province
- 42.8% of Canadians plan stays of 1 week or less for their summer vacation, 27.9% will stay in another Canadian province
- This year, 58.1% of Canadians plan a vacation budget of more than $1,000 per person
- Among Canadians who won't be going on vacation this summer, 37.7% blame inflation
Proportion of Canadians who say they plan to go on vacation this summer up 15 points over last year
The Covid-19 pandemic marked a real turning point in Canadians' motivation to go on vacation. Just last year, only 25% of respondents to our survey said they intended to leave home for the summer vacations. This year, however, there's greater enthusiasm for summer vacations, with 40.4% of respondents saying they plan to go on vacation, compared with 35.1% who say they have no plans to go, and 25.4% still undecided at the time of the survey. A hopeful upturn, against an anxious backdrop of inflation and global geopolitical tensions.
Source : HelloSafe's 2024 summer vacations survey
Almost 31% of Canadians say they intend to spend their summer vacation in their own province
Even though over 40% of Canadians say they intend to go on vacation this summer, there's a growing tendency to opt for destinations that aren't too far away, in a context where inflation is putting a strain on household budgets. Thus, 30.8% of our respondents intending to leave this summer say they intend to do so in the province where they live, and 27.9% in another Canadian province - for a total of 58.7% of respondents who will be staying within Canada's borders. Other popular destinations include :
- The United States, favored by 15.6% of our respondents who will be leaving this summer
- More distant destinations such as Europe (12.4%) or South America (9.1%).
Source : HelloSafe's 2024 summer vacations survey
Expert advice
Alexandre Desoutter, spokesperson for HelloSafe in Canada:
"This summer, a higher proportion of Canadians are planning to go on vacation, marking a significant uptick in travel intent despite the challenges posed by ongoing inflation and geopolitical uncertainties. This trend is a positive indicator for the Canadian economy, suggesting a resilient consumer confidence and a desire to return to pre-pandemic leisure activities. Increased vacation travel can stimulate various sectors, including hospitality, retail, and transportation, thereby generating substantial economic activity and employment opportunities. Moreover, this surge in travel is particularly encouraging in the current context, as it reflects a collective determination to seek normalcy and enjoyment amidst financial and global instabilities".
42.8% of Canadians plan stays of 1 week or less for their summer vacation
Analyzing the travel duration data reveals that the majority of travelers plan relatively short trips, with 29.8% intending to travel for one week and 29.6% for two weeks. This indicates a preference for manageable vacation lengths that balance relaxation with practicality, likely influenced by work commitments and budget considerations. Shorter trips of less than a week, planned by 23% of respondents, further underscore this trend towards brief, yet frequent, getaways. Notably, longer vacations of more than three weeks are less common, comprising only 12.2% of the plans, suggesting that extended travel is less feasible for most due to time or financial constraints. Meanwhile, 5.4% of travelers are opting for three-week vacations, representing a small but significant segment that values more extended periods of respite.
Source : HelloSafe's 2024 summer vacations survey
58.1% of Canadians plan a vacation budget of more than $1,000 per person
We also surveyed Canadians about their average per-person budgets for this summer's vacation, including transportation, accommodations and all other expenses. Whereas last year over 33% of respondents told us they planned to spend more than $1,500 per person (including children), this percentage has dropped this year to 28.8% - a sign that Canadians will be more careful with their money. Conversely, the $1,000-$1,500 budget bracket is favored this year by 29.3% of our respondents, making it the most popular budget bracket, confirming a shift towards more modest vacation budgets among Canadian households.
Source : HelloSafe's 2024 summer vacations survey
Among Canadians who won't be going on vacation this summer, 37.7% blame inflation
Among our respondents, 35.1% said they had no plans to travel this summer. So we wanted to find out more about the reasons why many Canadians won't be going away this summer. This year, inflation tops the list of reasons given by Canadians for not going on vacation this year (37.7%, 8 points more than last year). Next, 32.4% of respondents say they want to go away at another time of year, potentially to take advantage of lower prices and more moderate tourist numbers. Finally, 27.2% of those surveyed said they wanted to enjoy their free time at home, while health reasons are now an obstacle to vacations for only 2.7% of people.
Source : HelloSafe's 2024 summer vacations survey
Methodology
In addition to its expert editorial line around insurance and financial products, HelloSafe explores broader topics relating to global consumption in Canada and around the world. The aim is to decipher certain complex subjects for consumers and to provide everyone with the latest information. It is within this framework that HelloSafe regularly carries out studies on trends relating to current personal finance in Canada.
This study in based on a survey conducted on HelloSafe's website during the whole month of May 2024 and to which 1,045 people answered from all across Canada, representative of the demographic and geographic diversity of the country.
About HelloSafe Canada
HelloSafe is a leading platform for comparing financial products (insurance, credit, investments) in Canada. Powered by its unique and powerful technology, HelloSafe provides users with dozens of free and anonymous comparison tools, calculators and expert, up-to-date content. Its platform empowers users to make the best decisions for their wallets and find the right products at the right prices for them.
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Alexandre Desoutter
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