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Fewer Canadians will be travelling for the holidays this year, but those who are taking vacations plan on spending more money, finds a new CIBC poll.

Read: Travel insurance saved Canadians $138M

Key findings of the poll include:

  • 22% of Canadians are planning a holiday vacation in December, down from 25% last year. Within this group:
    • They plan to spend on average of $1,509 on their trip, including transportation, accommodation, meals, and other activities, up from $1,462 last year
    • Half (53%) of travellers this holiday season plan to stay within Canada; 34% will say closer to home in their own province, 19% will travel outside their province
    • Four in 10 (40%) will vacation outside of Canada, including 20% travelling to the U.S. and 20% heading to travel spots beyond Canada or the U.S.
    • Visiting family or friends was the top reason for travelling for half (50%) of the group; another 21%indicated their primary reason to travel is to get warm

The top concerns cited by Canadians who plan to travel this holiday season include:

  • Getting sick or injured on their vacation (33%)
  • Losing money or credit cards (10%)
  • Losing luggage (8%)

Also read:

Check clients’ insurance before travelling

Many will travel this winter

Originally published on Advisor.ca

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