The summer holidays got off to a bit of a rocky start with an airline strike but that may be just one signal that Summer Vacation 2024 is going to be different.
A poll for CIBC that probed a broad cross-section of the population on their summer vacation plans found the word of the year is frugal. Nearly 80 per cent of the respondents said they are changing their spending habits in order to pay for a summer holiday. And they are cutting back on the vacations themselves, opting to stay in Canada.
Road trips are favoured by half of those who participated in the survey. They are choosing this option because it is cheaper. A sizeable chunk is taking a step further with plans to go camping.
The majority say they intend to pay for this year’s vacation out of savings rather than run up the credit card. While they are finding it harder to save these days, they say the primary choices they are making to save are cutting back on dining out, on entertainment and, finally, clothing purchases.
