TORONTO, March 12, 2024 /CNW/ – American Express Travel® today 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 expected average travel spending and prioritize spontaneous vacations and once-in-a-lifetime vacations.
“The Global Travel Trends Report highlights the continued desire for Canadians to prioritize memorable 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% of Canadians plan to spend more or the same on travel this year, and we’re excited to meet that demand with our premium travel benefits.”
A summary of the Canadian findings from the American Express Travel® 2024 Global Travel Trends Report is as follows:
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Extended bucket list trips are on the rise: Canadians tend to take longer trips than the global average, visiting multiple countries in a region or undertaking expeditions/long-distance travel.
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Canadians are willing to spend unless a travel hack can help them save: Travelers are willing to foot the bill to get the most out of their trip, but they rely on travel hacks for cost savings and upgrades.
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Spontaneity, independent travel and self-love drive travel desires: Canadians leave room for spontaneous exploration, exploration for self-fulfillment, and seek to escape the chaos of everyday life with solo travel.
Extended trips with the longest list are increasing.
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1-in-3 (33%) Canadians planning to travel in 2024 plan to travel on a major trip (eg, bucket list trip, dream vacation) this year.
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The most common types of trips that Canadians consider a “dream vacation” or big trip include touring several countries within a region (66%), expedition cruises (32%), adventure travel (29%), wellness retreats (23%) ).
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Among Canadians who plan to take a trip to visit multiple countries in a region, 70% plan to visit Europe.
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Canadians planning to take a trip in 2024 are making the most of vacations, with 1-2 week trips (45%) and one-week trips (44%) most common, compared to one-week trips (47%) and weekend trips (41%) were most popular among global responses.
Canadians are willing to spend unless a travel hack helps them save.
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Over a third (36%) of Canadians plan to spend more on travel compared to last year.
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Worldwide, Canada ranks second highest market for expected highest average spending on leisure travel at avg 8,824 dollars on a trip.
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The increased costs are balanced with a set of “travel hacks” to save money when traveling:
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44% will travel during the off-peak season.
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41% will use credit card points to pay for flights/hotels.
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20% will book through companies that offer free hotel benefits (eg room upgrades, hotel credits)
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85% of Canadian adults agree that they are interested in finding flight deals so they can spend more on accommodation or upgrade classes.
Spontaneity, independent travel, and self-love drive travel desires
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Some Canadians book travel spontaneously, while others find spontaneity in their destination:
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Over a third (37%) of Canadians took a last-minute trip in 2023, with even more (43%) interested in taking one in 2024.
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Planning times are short, with almost half (47%) booking 2 weeks in advance or more.
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While at their destination, Canadians prefer to leave meal plans (61%), excursions/activities (39%) and shopping (35%) to be spontaneous.
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Over half (54%) of Canadians plan to travel solo more often or about the same in 2024. Of these Canadians, 53% are Millennials and Gen-Z (compared to 59% of all adults worldwide).
The full American Express Travel Global Travel Trends 2024 report can be downloaded here.
RESEARCH METHODOLOGY
This poll was conducted between 31 January – February 8, 2024 among a sample of 2,005 US adults, 1,007 Australian adults, 1,002 Canada and adults in the UK, 1,002 adults in Japan, 1,006 adults in Mexico, and 1,005 adults in India who have at least $50k+ income and usually travel at least once a year. The interviews were conducted online. The full survey results have a margin of error of plus or minus 2-4 percentage points. Some geographic areas may be weighted with fewer variables depending on the availability of local census data.
FOR AMERICAN EXPRESS IN CANADA
American Express is a global services company, giving customers access to products, insights and experiences that enrich lives and build business success. American Express was founded in Canada in 1853 and offers a variety of consumer and business products. Learn more at americanexpress.ca and contact us at Facebook, x, Instagramand YouTube.
SOURCE American Express Canada
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