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Inflation and rising costs: Canadians won't let it stop them from traveling

The rising cost of travel has failed to deter Canadians, more of whom want to travel this year and are finding ways to do so by limiting their spending. .

This is according to a study by the Blue Cross on travel intentions in 2024. Despite the pressure from inflation, more than two thirds (69%) of Canadians felt that it had an impact on their travel plans in 2023, but still planned to do so travel in 2024.

“Canadians are finding more creative ways to continue to have fun traveling while staying within their budget, whether they prefer a vacation getaway or local excursions,” said Tim Bishop, director general of the Blue Cross of Canada.

The study also found Canadians were more optimistic and planned more travel in 2024.

“As they plan their trips for 2024, they may also consider booking their flights and accommodation a few months in advance and taking out travel insurance to avoid costs for “unexpected events,” Mr Bishop said.

Reduced stress

The study cites the advantages offered as the main reason why Canadians are motivated to travel. 96% of Canadians recognized that traveling can help them recharge, reduce professional burnout and improve their mental health.

According to the study, stress associated with travel has also decreased by 41% compared to 2023, but incidents still occur.

“In fact, 58% of Canadians report having experienced a travel-related incident, and for the second year in a row, cancellation or change, theft, and loss or damage to luggage were identified as the top causes of travel-related incidents,” continued Mr. Bishop.

New ways to travel

Ecotourism and solo travel have increased significantly this year.

Generation Z is more open than their older counterparts to the possibilities of combining remote work and travel by temporarily working from a new destination.

The 2024 study was conducted by Research + Knowledge = Insight, an independent research firm, and was conducted online in November 2023 with…a nationally representative sample of 2,047 Canadian adults.