With pandemic travel restrictions largely in the rear-view mirror, a new CIBC poll finds that a majority of Canadians (63%) are ready and excited to travel again. However, some vacation plans remain uncertain with three quarters of Canadians (75%) indicating they are very concerned about the cost of travel due to inflationary pressures.
The survey also found that most Canadians agree travel is essential for their mental health (57%). Among those with travel intentions for this summer (36%), half (50%) are planning a road trip within Canada this summer while 38% are planning budget friendly vacations. Additionally, many (42%) are unsure about the total amount of money they want to spend on summer travel this year.
Top summer travel plans, among Canadians who say they intend to travel this summer:
• 50% are planning a road trip within the country
• 23% are taking a trip within Canada involving a domestic flight
• 20% are planning a camping or RVing trip
• 18% are planning on international travel to a country other than the US
• 16% plan to book a rental cottage
Other key poll findings:
• 62% of Canadians would be more inclined to travel within their province if they received a tax credit for their vacation
• 63% of Canadians are comfortable traveling internationally to the US by vehicle
• 42% of Canadians say they would be open to extending their vacation to work elsewhere in the world, if they could do so remotely
“Canadians told us earlier this year they are prioritizing their wellbeing, so it’s not surprising to see travel included as a key component of overall wellness,” says CIBC VP Carissa Lucreziano. “However, as costs have increased, it’s important to keep a keen eye on budgets and explore ways to lower expenses, wherever possible, when planning trips.”
With travel largely restricted over the course of the pandemic, many Canadians have been busy accumulating travel rewards points, with Canadians reporting they have accumulated total of 55,700 points on average on their travel rewards cards.
Despite the large number of points, many (66%) say they plan to dip into their personal savings to pay for their summer vacation, while a third (33%) of respondents said they will not be travelling at all this summer because rising prices are making travel prohibitive.