Canadians, despite the economic difficulties, are finding creative ways to maintain their traveling habits. Flexibility and financial planning are key.
Canadians continue to travel despite economic uncertainty and global dynamics that are changing. Arlington Research conducted a recent survey for FlightHub The survey sheds light on the ways in which Canadians adapt to financial pressures that impact their travel plans. The survey of 1,500 Canadian adults, who had flown at least one time in the last two years, revealed that travel is still a top priority for Canadians, but with more flexibility and strategic planning.
Adapting travel strategies
The survey shows how Canadians, and especially the younger generations, have adjusted their travel strategies in response to rising costs. A large number of respondents (61%) reported that they have changed their travel patterns in the past two year to make it more affordable. 76% of Gen Z respondents said they had made changes to their travel habits in order to reduce costs. 67% of adapters are utilizing discounts. 54% have adjusted their travel dates. And 42% are choosing alternate destinations to stretch out their travel budget.
Financial Planning and Trading-offs
Canadians make compromises on their travel plans due to financial pressures. Four out of ten respondents said that their budgets for travel are affected by the cost-of-living. Only 21% chose financial goals over traveling, and 10% stated a commitment not to let cost affect their travel plans. Canadians adopt cautious financial strategies. 62% of Canadians save in advance, and 37% adhere to strict budgets for travel. Also, 28% of Canadians are using credit cards to “travel now, pay later”.
Flexible Work and Travel
Canadians’ commitment to travel goes beyond their budgets, and they are also reshaping the way they live in order to accommodate travel. The survey found that 20% of respondents were looking for jobs with more travel flexibility. In addition, 27% of respondents would take a lower paying job for more travel flexibility. Nearly a third were willing to accept a pay reduction of at least 11%. This trend indicates a change in the way Canadians view their careers. They are now more concerned with lifestyle flexibility than income.
The survey shows that Canadians still value travel despite the economic downturn. Henri Chelhot is the CEO of FlightHub and he notes that Canadians make deliberate decisions to keep travel a priority. Canadians demonstrate a commitment to maintain their travel habits, whether they are changing budgets, seeking flexible career options, or exploring new locations.
