travel-world-suitcase

Vacation plans of one in four (26%) Canadians planning to get away this March Break have been impacted by the declining Canadian dollar, according to a CIBC poll.

Read: Remind clients to buy insurance for March Break getaways

Highlights of the poll include:

  • Canadians travelling this March Break plan to spend an average of $2,638, up 13% from $2,328 last year
  • Albertans plan to spend the most, at $4,063, while Quebecers plan to spend the least, $1,376
  • Of those planning to travel, 26% say the declining Canadian dollar has impacted their travel plans

Read: Travel insurance saved Canadians $138M

  • Just 35% of travellers are headed to U.S. or international destinations this March Break, compared to 56% in last year’s poll
  • U.S. travel has decreased to 20% from 35% of travellers
  • International travel has decreased to 15% from 21% of travellers

Among those travellers impacted by the declining Canadian dollar, the poll asked how they are adjusting their travel plans as a result:

  • 28% of impacted travellers will need to find a way to save more money for their trip
  • 25% will travel closer to home
  • 24% decided to cancel their trips altogether
  • 19% will still be travelling outside Canada, but have scaled back their spending

Read: Check clients’ insurance before travelling

Originally published on Advisor.ca

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