TORONTO — A recent Flight Centre Travel Group survey conducted by YouGov suggests that 1 in 10 Canadians prioritize travel desires over housing payments.
Around 10% of respondents admitted to neglecting their rent or mortgage payments to accommodate vacation costs, men twice as likely (12%) as women (7%).
Flight Centre Group notes in a statement that the results reflect ‘a concerning shift in financial priorities.’ However the travel retailer also notes that Canadians, particularly those aged 18-40, also demonstrate a unique balance of wanderlust and resilience, choosing to navigate and adjust their finances rather than giving up travel entirely.
About six out of 10 younger Canadians (61%) surveyed are determined to travel within the next 12 months, signifying a non-negotiable aspect of their lifestyle choices even in uncertain economic times.
Nearly half (45%) of younger Canadians are planning to at least one vacation this year, with a further 11% planning for three vacations or more.
More than three quarters (82%) say they will budget their travel plans by …
- Looking for exclusive deals and discounts (39%)
- Choosing budget-friendly accommodations (36%)
- Exploring local or domestic destinations (33%)
Flight Centre Canada’s Executive VP, Chadd Andre, said: “It’s pretty amazing to see just how much people value travel. Sure, skipping out on rent or a mortgage payment to go on a trip isn’t something we’d recommend — it’s pretty risky, after all. But it really highlights a bigger picture: to Gen Z and Millennials, travel means a lot.”
