MONTREAL — According to a national survey conducted by Montreal-based FightHub Group among 2,000 Canadians, travel is being prioritized at the expense of essential spending. Roughly 48 per cent of Canadians have had to make cuts to their budget in order to take a trip they wouldn’t have been able to afford otherwise.
Among those who have flown at least once in the last two years, 57 per cent said they have had to cut non-essential expenses to afford a trip this year. This percentage, highest in New Brunswick (77 per cent), highlights the exceptional need for escape and the shifting prioritization of spending.
Despite being perceived as non-essential at first thought, travel has become a relatively protected expense for Canadians. According to the survey, more than one in four Canadians (28 per cent) who can’t afford to travel have resorted to financing their trips using credit cards.
This surprise practice contrasts with the decrease in essential daily expenses, such as groceries. In fact, 41 per cent of Canadians, regardless of age, who have tightened their belts for a trip, stated that they reduced their daily grocery expenses to afford a travel experience they wouldn’t have been able to enjoy otherwise. This year, during a period of inflation, it highlights the need for more affordable travel solutions.
“Even amidst challenging economic times, the desire to explore and connect with the world remains a fundamental aspect of the human spirit. Travel has the remarkable ability to transcend financial concerns, providing a unique and enriching experience. Travel is an investment in oneself, and we’re dedicated to providing every individual with affordable options,” says Chris Cave, CEO, Flighthub.
Furthermore, on a national scale, 57 per cent of millennials have made compromises to fulfill their desire to escape, such as reducing outings to restaurants, theatres or concerts. Generation Z stands out as well, with 69 per cent of them willing to make concessions, such as working extra hours, to make their travel dreams a reality.
“This year, we are seeing a number of changes in travel behaviour among our customers,” says Marc Ghobriel, CFO, FlightHub. “Generation Z, for example, is booking more flights than boomers, and is more attracted to international destinations such as Manila, London and Paris. Whether Canadians want to travel alone, with family, with friends, domestically, or internationally, at FlightHub, our priority remains to ensure our online platform allows everyone to travel without breaking the bank, especially during this period of economic uncertainties.”
