WATCH: A new report suggests more of us are planning on sticking close to home this summer. Here’s Grace Ke with why the ‘staycation’ is so popular this year.
VANCOUVER – It is officially summer and for many people that means the countdown is on to a vacation.
If you are planning on spending your holiday in B.C., you are not alone.
According to the Bank of Montreal’s 2014 Summer Travel Outlook, Canadians rank their home province as the top destination spot for vacations.
Fifty-five per cent of respondents say they will travel within their home province with 26 per cent saying they plan to travel to another province.
The rest of respondents say they plan to travel internationally, with the United States, Europe and the Caribbean topping the list.
Nineteen per cent of respondents say they do not plan to travel this summer.
Our neighbours to the east are the most likely to travel close to home, with 81 per cent of Albertans saying they will travel within Canada. Millennials, ages 18 to 34, are the most worldly summer travellers, with 24 per cent opting to travel outside of Canada and the U.S.
The survey, an online sample of 1,518 adult Canadians, finds that Canadians plan to spend $1,802 on summer travel, down nearly 20 per cent compared to a year ago.
This is mostly attributed to financial circumstance, with one quarter scaling back in order to save more and 19 per cent focusing on paying off debt.
The survey finds that gas prices will also affect summer plans for 68 per cent of Canadians, with 30 per cent planning fewer out of town trips.
“Affordability is top of mind for Canadian travellers, likely because of their renewed focus on saving this summer as well as other factors, including the Canadian dollar and fuel prices,” says Nick Mastromarco, managing director, credit card products, BMO Bank of Montreal. “Whether planning a vacation close to home or a trip abroad, making use of loyalty rewards to offset costs is a great way to stretch a vacation budget or free up cash for added savings.”
© Shaw Media, 2014