inthenews
CIBC Summer Travel Poll:
More than half of Canadians planning a summer vacation Canadians spending $1,600 on average for their summer getaway most are traveling within Canada
A
CIBC (TSX: CM) (NYSE: CM) poll conducted by Leger shows that 56 per cent of Canadians surveyed are planning to take a vacation this summer, at an average cost of $1,600 - down slightly from just over $1,700 last year. Most Canadians are planning to spend that money here in Canada for their July or August holidays. Key findings of the poll include: 56 per cent of Canadians surveyed are taking a vacation during July and August, similar to the 55 per cent finding from the same poll last year. TheRentersGuide.ca Among those Canadians planning a summer vacation: They intend to spend an average of $1,599 on their summer vacation in 2013, down slightly from $1,728 last year, 73 per cent are planning to TheRentersGuide.ca vacation within Canada, 25 per cent are visiting 36G
the U.S., and 9 per cent are travelling outside of North America* Among those staying in Canada, the average vacation cost is expected to be $1,406, while among those saying they are visiting the U.S., the average cost is expected to be $2,161. Residents of Manitoba and Saskatchewan plan to spend among the most on vacations this summer, averaging $2,075, while residents of Atlantic Canada plan to spend the least ($1,195 on average). “Our poll results show that Canadians are finding the balance between getting away for a well-deserved vacation this summer while holding the line on expenses,” said Cheryl Longo, Executive Vice President, Card Products, CIBC. “Canadians are being mindful of their budget and their broader financial goals this summer, and a great way to do that is to vacation here in Canada.” The poll also revealed: Of Canadians surveyed, those aged 35 to 54 are the most likely to take a summer vacation (64 per cent), and those aged 65 and older are the least likely (47 per cent). Families with children are somewhat more likely to get away this summer (64 per cent) than those with no children (53 per cent). TheRentersGuide.ca Top Travel Concerns for Canadians While vacations are meant to be fun, past CIBC research has
TheRentersGuide.ca