As we head into the busy holiday season, the second annual Canadian Winter Vacation Confidence Index by Allianz Global Assistance shows Canadians need a break but the majority don’t think they will actually get one. Only 54 per cent had a vacation at some point within the past year.
Conducted by Ipsos, the Index reveals that 59 per cent of Canadians are not confident they will be able to take a winter vacation this year, despite 71 per cent of Canadians seeing the need for an annual vacation as important.
Further underscoring the disconnect between Canadians’ need for a vacation and actually taking one, a surprising 33 per cent say they haven’t had a vacation in more than two years.
“It’s clear from the Index that Canadians want and need a vacation but they are not taking all they are entitled to,” said Dan Keon, Senior Director, Market Management, Allianz Global Assistance Canada. “According to the Index results, Canadians get 21 paid vacation days per year on average but are only taking 17. There could be many reasons for this but maybe some Canadians are still struggling with that work-life balance.”
Gen-Xers are more likely (40 per cent) than Millennials (25 per cent) or Boomers (32 per cent) to have skipped taking an annual vacation for two or more years.
“Cost also appears to be an issue as the Index found that, when we do travel, Canadians prefer to do so in off peak times,” added Keon.
In fact, 43 per cent reported travelling in off-peak times, citing the desire to keep costs down, while another 34 per cent said they travel in off-peak periods to avoid crowds. Of those who said they do travel during peak periods, only 12 per cent said they do so out of personal preference, while 10 per cent said they can only get time off during peak times.
While six in ten Canadians don’t anticipate taking a winter vacation, four in ten (41 per cent) are confident they will take a trip between December and March. Confidence is highest in households with children, where half expect to take a winter vacation (52 per cent).
Of those who will be travelling, they expect to spend an average of $2,673 on their vacation. That’s about the same as they reported spending last year – just $80 more, or an increase of three per cent.
“When it comes to travel, Canadians are clearly cost-conscious,” said Keon. “Allianz Global Assistance recommends that when making plans, travellers should always budget for the cost of trip cancellation and medical travel insurance. The last thing you want is to be out of pocket for unforeseen trip cancellations before you leave or unexpected hospital bills if you become injured or sick while on vacation.”
The findings of the Canadian Winter Vacation Confidence Index are the result of an Ipsos poll conducted on behalf of Allianz Global Assistance. A total of 2,005 surveys were completed among Canadian adults between October 30 and November 2, 2017. A survey of this size is considered accurate within plus-or-minus 2.5 percentage points, 19 times out of 20.