More Canadians plan to go on vacation this year, despite inflated travel costs

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Despite inflation still weighing on household budgets, Canadians have greater enthusiasm for summer vacations this year compared to last, according to a recent poll by insurance and financial comparison site HelloSafe.

The survey showed that 40.4 per cent of respondents plan to leave home for summer vacation this year, compared to only 25 per cent of those surveyed a year ago.

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“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,” said HelloSafe Canada spokesperson Alexandre Desoutter.

“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.”

Desoutter added that the trend is a positive indicator for the Canadian economy, suggesting a resilient consumer confidence and a desire to return to pre-pandemic leisure activities.

Out of HelloSafe’s respondents this year, 35.1 per cent said they have no plans to go on holiday, while 25.4 per cent were still undecided.

Among those who won’t be going on vacation this summer, 37.7 per cent blame inflation, which topped the list of reasons respondents gave.

Meanwhile, 32.4 per cent of respondents said they wanted to go away at another time of year, potentially to take advantage of lower prices and more moderate tourist numbers. And 27.2 per cent said they wanted to enjoy their free time at home, while 2.7 per cent cited health reasons as an impediment to vacationing.

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Inflation also seemed to influence where Canadians plan to spend their vacation, given the strain of higher travel costs on household budgets, said HelloSafe. There’s a growing tendency for Canadians to opt for destinations that aren’t too far away.

The poll said 30.8 per cent of respondents intending to take vacations this summer plan to do so within their home province, while 27. 9 per cent plan to visit another Canadian province. That’s a total of 58.7 per cent of respondents who will be staying within Canada’s borders.

For the rest of the vacation planners, 15.6 per cent favoured the United States as their summer destination, while 12.4 per cent and 9.1 per cent plan to travel to more distant destinations such as Europe and South America, respectively.

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HelloSafe said it surveyed 1,045 Canadian residents online between May 1 and 31.

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