Canadians are second highest market for trip spend, survey says

American Express Travel released its 2024 Global Travel Trends Report, highlighting the inspiration and trends driving global travel bookings this year.

The report reveals that Canadians rank as the second highest global market for anticipated average trip spend and are prioritizing spontaneous, bucket list, and once-in-a-lifetime vacations.

“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, vice-president of brand, partnerships and lifestyle benefits at American Express Canada. “We know that 82 per cent 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.”

Key findings for Canadians

A summary of the Canadian findings from the American Express Travel 2024 Global Travel Trends Report are as follows:

• 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 look to escape the chaos of daily life with solo trips.

Bucket list trips on the rise

One-in-three (33 per cent) 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 per cent), expedition cruises (32 per cent), adventure travel (29 per cent), wellness retreats (23 per cent).

Among Canadians planning to take a trip to visit multiple countries in a region, 70 per cent plan on visiting Europe.

Canadians planning on taking a trip in 2024 are making the most of vacation time, with  one to two-week trips (45 per cent) and week-long trips (44 per cent) being most common, compared to week-long (47 per cent) and weekend trips (41 per cent) being most popular among global responses.

Canadians love savings

More than one third (36 per cent) of Canadians plan to spend more on travel compared to last year.

Globally, Canada ranks the second highest market for anticipated average spend on leisure trips, at an average of $8,824 for all leisure trips in 2024.

Increased spend is balanced with a range of ‘travel hacks’ to save money on travel:

• 44 per cent will travel during off-peak seasons.
• 41 per cent will use credit card points to pay for flights/hotels.
• 20 per cent will book through companies that offer complimentary hotel benefits (e.g. room upgrades, hotel credits)

Additionally, 85 per cent of Canadian adults agree that they are interested in finding flight deals so they can spend more on accommodations or upgrades.

The full American Express Travel 2024 Global Travel Trends Report can be downloaded here.