According to Amex Travel, Canadians are some of the highest spenders in the world for travel. Who knew?
The study ranks Canadians as the second highest global market for anticipated average trip spend and for prioritizing spontaneous, bucket list, and once in a lifetime vacations.
American Express Travel released its 2024 Global Travel Trends Report today which “highlights the continued desire for Canadians to prioritize unforgettable travel, from spontaneous trips to once in a lifetime experiences," said Vanessa Crooker, VP of Brand, Partnerships and Lifestyle Benefits at American Express Canada. "We know that 82% of Canadians plan to spend more or the same on travel this year.”
A summary of the Canadian findings are as follows:
- Extended, bucket-list trips are on the rise: Canadians are looking to take longer trips compared to the global average, visiting multiple countries in a region or taking expedition/remote trips.
- Canadians are willing to spend, unless a travel hack can help them save: Travellers are willing to foot the bill to get the most out of their trip but lean on travel hacks for cost savings and upgrades.
- Spontaneity, solo travel and self-love drive travel desires: Canadians are leaving room for spontaneous exploration, exploring for self-fulfillment, and look to escape the chaos of daily life with solo trips.
Extended, bucket-list trips are on the rise.
- 1-in-3 (33%) Canadians planning on taking a trip in 2024 plan to travel for a major trip (e.g., bucket list trip, dream vacation) this year.
- The most common types of trips Canadians consider to be a 'dream vacation' or major trip include multi-country tour within a region (66%), expedition cruises (32%), adventure travel (29%), wellness retreats (23%).
- Among Canadians planning to take a trip to visit multiple countries in a region, 70% plan on visiting Europe.
- Canadians planning on taking a trip in 2024 are making the most of vacation time, with 1–2-week trips (45%) and week-long trips (44%) being most common, compared to week-long (47%) and weekend trips (41%) being most popular among global responses.
Canadians willing to spend, unless a travel hack can help them save.
- Over one-third (36%) of Canadians plan to spend more on travel compared to last year.
- Globally, Canada ranks the second highest market for anticipated highest average spend for leisure trips at an average of $8,824.
- Increased spend is balanced with a range of 'travel hacks' to save money on travel:
- 44% will travel during off-peak seasons.
- 41% will use credit card points to pay for flights/hotels.
- 20% will book through companies that offer complimentary hotel benefits (e.g. room upgrades, hotel credits)
- 85% of Canadian Adults agree that they are interested in finding flight deals so they can spend more on accommodations or upgrades.
Spontaneity, solo travel and self-love drive travel desires
- Some Canadians book travel spontaneously, while others find spontaneity at their destination:
- Over one-third (37%) of Canadians took a last-minute trip in 2023, with even more (43%) interested in taking one in 2024.
- Planning timeframes are short, with nearly half (47%) booking 2 weeks in advance or more.
- While at their destination, Canadians prefer to leave dining plans (61%), excursions/activities (39%) and shopping (35%) to be spontaneous.
- Over half (54%) of Canadians plan on travelling solo more often or about the same in 2024. Of those Canadians, 53% are Millennials and Gen-Z (compared to 59% of all Global Adults).
- Of those planning solo-travel in 2024, 59% of Canadians plan to take a "treat yourself" solo trip centered around self-love.
The full American Express Travel 2024 Global Travel Trends Report can be downloaded here.
