Who says Canadians are frugal travellers? American Express Travel has released its 2024 Global Travel Trends Report, highlighting the trends driving global travel bookings this year. The report reveals that Canadians rank as the second highest global market for anticipated average trip spend.
"The Global Travel Trends Report highlights the continued desire for Canadians to prioritize unforgettable travel, from spontaneous trips to once-in-a-lifetime experiences," said Vanessa Crooker, VP of Brand, Partnerships and Lifestyle Benefits at American Express Canada.
"We know that 82% of Canadians plan to spend more or the same on travel this year and we are excited to meet that demand with our premium travel benefits."
Exotic destinations and bucket-list trips are a priority for many Canadians in 2024. (Photo Credit: TRAVELSAVERS CANADA)
Here are some highlights from the American Express Travel 2024 Global Travel Trends Report:
· Extended, bucket-list trips are on the rise: Canadians are looking to take longer trips compared to the global average, visiting multiple countries in a region or taking expedition/remote trips.
· Canadians are willing to spend, unless a travel hack can help them save: Travellers are willing to foot the bill to get the most out of their trip but lean on travel hacks for cost savings and upgrades.
· Spontaneity, solo travel and self-love drive travel desires: Canadians are leaving room for spontaneous exploration, exploring for self-fulfillment, and looking to escape daily life with solo trips.
· Extended, bucket-list trips are on the rise. 1-in-3 (33%) Canadians planning on taking a trip in 2024 plan to travel for a major trip (e.g., bucket list trip, dream vacation) this year. The most common types of trips Canadians consider to be a 'dream vacation' or major trip include multi-country tour within a region (66%), expedition cruises (32%), adventure travel (29%) and wellness retreats (23%). Among Canadians planning to take a trip to visit multiple countries in a region, 70% plan on visiting Europe.
· Canadians planning on taking a trip in 2024 are making the most of vacation time, with 1–2-week trips (45%) and week-long trips (44%) being most common, compared to week-long (47%) and weekend trips (41%) being most popular among global responses.
· Canadians are willing to spend, unless a travel hack can help them save. Over one-third (36%) of Canadians plan to spend more on travel compared to last year. Globally, Canada ranks as the second highest market for anticipated average spend on leisure trips, at an average of $8,824 for all leisure trips in 2024.
While Canadians plan to spend more on travel, they’re still eager to save wherever possible, using a range of travel ‘hacks,’ including:
· 44% will travel during off-peak seasons.
· 41% will use credit card points to pay for flights/hotels.
· 20% will book through companies that offer complimentary hotel benefits (e.g. room upgrades, hotel credits)
· 85% of Canadian Adults agree that they are interested in finding flight deals so they can spend more on accommodations or upgrades.
More Canadians are planning solo travel trips.
Some Canadians book travel spontaneously, while others find spontaneity at their destination: Over one-third (37%) of Canadians took a last-minute trip in 2023, with even more (43%) interested in taking one in 2024. Planning timeframes are short, with nearly half (47%) booking 2 weeks in advance or more.
While at their destination, Canadians prefer to leave dining plans (61%), excursions/activities (39%) and shopping (35%) to be spontaneous.
Over half (54%) of Canadians plan on travelling solo more often or about the same in 2024. Of this group, 53% are Millennials and Gen-Z (compared to 59% of all Global Adults).
The full American Express Travel 2024 Global Travel Trends Report can be downloaded here.
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