Vancouver International Airport (YVR) in Richmond, British Columbia, Thursday, Dec. 21, 2023. (CityNews Image)
With the summer travel season fast approaching, many Canadians say they are cutting back on their travel plans for the next two to three months because they can't afford to spend as much money.
More than a quarter of Canadians responding to a CIBC summer spending poll said they are scaling back their summer travel plans as they struggle with the rising cost of living.
Of those who said they've already booked a vacation, nearly two-thirds said they're taking a budget-conscious approach to summer fun, with four in 10 saying they plan to spend less than $2,000 on their trip.
To save even more money, most people are planning trips within Canada, with half choosing more affordable options like road trips and one in five going camping to cut costs.
Aside from travel, many Canadians are cutting back on everyday expenses and forgoing big purchases this summer. A separate poll conducted in person for a major automaker found that more than half of Canadians have postponed or canceled at least one major purchase to deal with the current economic climate.
Regionally, the survey found that British Columbians are most likely to postpone travel plans.
