A recent Ipsos poll conducted for Global News found that 62 percent of Canadians are likely to take a summer vacation this year, with 79 percent saying they really need a break. This desire for a getaway is seen as an antidote to the various crises Canadians have faced in recent years, from affordability challenges to global conflicts. However, financial concerns remain a significant barrier, with fewer Canadians feeling they can easily afford a vacation and many scaling back their plans due to inflation and economic uncertainty.
The poll also revealed that vacation intentions are divided along income and generational lines. While half of households with incomes below $40,000 are at least somewhat likely to take a vacation, 79 percent of those making over $100,000 are planning a getaway. Younger Canadians aged 18-34 are the most likely to take a summer vacation, with 42 percent saying they are very likely to do so. Despite financial realities putting a hamper on getaway plans, Ipsos’ senior vice-president, Sean Simpson, believes most households will find a way to make it work.
For some Canadians, the desire to take a break may lead them to rely on credit cards to finance their vacations. While this approach can offer upsides, such as built-in travel insurance programs and waived foreign transaction fees, there are also major risks involved. Using credit cards overseas can lead to unexpected bills and higher conversion rates. To avoid these pitfalls, experts recommend taking out local currency before the trip and being flexible with departure and arrival cities to find cheaper airfare.
In addition to summer vacations, Canadians are also showing interest in the upcoming 2024 Olympic Games in Paris. Ipsos polling found that nearly six in 10 respondents are interested in the games, with many viewing them as a unifying opportunity for the world. The majority of Canadians believe the Olympics should go ahead despite global conflicts and environmental concerns. Like a summer vacation, the Olympics are seen as a tonic for Canadians looking for a bit of escapism and optimism.
Overall, Ipsos’ polling suggests a slight turnaround in optimism among Canadians, with some households hopeful that financial stress may be easing soon. The combination of the Olympics, summer travel, and nice weather is seen as a positive sign for a potentially brighter summer compared to recent years. While financial pressures remain a concern, Canadians are finding ways to prioritize travel and find moments of relaxation and enjoyment amidst ongoing challenges.
