Travelling might be good for the mind and soul, but Canadians don’t think they can afford to travel as much as they would like.
A TD Canada Trust survey released last week found that less than half of Canadians and 53% of B.C. residents have taken a vacation lasting a week or more in the last 12 months. About 83% of Canadians and 79% of British Columbians said they would like to travel more if they could afford it.
The survey suggested some people might not be taking advantage of credit card travel reward programs that might help them pay for more travel. Only half of B.C. respondents said they have redeemed points for flights and only a third said they have redeemed points for hotels.
Travelling has become one of the top priorities for Canadians, ranking second to owning a home, according to an HSBC Bank Canada survey released last week. As a goal that would add to their level of satisfaction in life, it even outranked the possibility of retiring early or having a better job or career.
Elizabeth Dunn, an associate psychology professor at UBC said, “That’s intriguing because it means people in Canada and in B.C. are looking outward. Research shows that travelling does provide people with a lasting source of joy that they might not get from more traditional material purchases.”
While the U.S., France, Italy and the U.K. are popular destinations Canadians would like to visit, 51% expect their next trip to be within the country. A third of respondents expect to travel within their own province with the remainder travelling to another province.