Rising costs have forced all of us to make budgetary choices – what to cut back on or to eliminate altogether. But travel, it seems, is not on the chopping block.
A survey of Canadians conducted for TD Bank found that travel is not a line item many of us are willing to cut as we rethink our spending priorities. But we are being a bit more frugal about it.
In particular, the bank’s survey found two-thirds of are still planning a winter vacation but a third of those are passing on travel insurance to keep costs down.
And it seems the travel bug has all of us. Three-quarters of those surveyed are planning to trim their discretionary spending as cost consciousness has a grip on all of us. But we currently favor spending on experiences rather than things.
The Gen Z demographic told the survey firm they want to travel with their families. Boomers prefer travelling to a destination they’ve never seen before. And Millennials want to share the travel experience with their children.
