Canadian trends in travel
For 62% of Canadians, the cost of flights is the most important factor, with similar budgets for 2024 in mind. Spending on accommodation and car rentals is also expected to rise, with planned budget increases of 32% and 15%, respectively.
The top 10 cheapest destinations in the last year are as follows:
- Florence, Italy: -29% price drop
- Faro, Portugal: -28% price drop
- Bogota, Colombia: -28% price drop
- Madeira, Portugal: -28% price drop
- Quito, Ecuador: -27% price drop
- Reykjavik, Iceland: -21% price drop
- Paris, France: -20% price drop
- Rome, Italy: -19% price drop
- Oslo, Norway: -18% price drop
- Barcelona, Spain: -17% price drop
Skyscanner’s findings are based on the percentage price drop for an economy class return flight booked between January 1 and June 30 compared to the same period in 2023.
Empower your investments with Qtrade
Discover Qtrade's award-winning platform and take control of your financial future. With user-friendly tools, expert insights, and low fees, investing has never been easier.
Start Trading TodaySpecific destination trends
Just over one-fifth (21%) of Canadian travellers aim to attend or participate in a sporting event while abroad.
As well, 33% are planning a vacation around a lunar or solar eclipse, while a significant 71% plan to visit gardens during their trip. Over a third (34%) plan to visit locations from their favourite video game.
There’s also a generational divide: 45% of 24- to 34-year-olds are more likely to take a health-conscious approach to their holidays compared to 37% of 65-year-olds and over.
Over half – 53% – of all Canadian travellers say culture is the most important reason to travel.
Trade Smarter, Today
Build your own investment portfolio with the CIBC Investor's Edge online and mobile trading platform and enjoy low commissions. Get 100 free trades and $200 or more cash back until March 31, 2025.