Canadians willing to cut daily expenses for travel, says KAYAK

TORONTO — Canadians are doing everything they can to travel this year, including pinching pennies and changing their everyday spending habits.

According to a new KAYAK survey, conducted with YouGov, 7 in 10 (68%) of Canadians would make small adjustments to their spending in order to go on vacation in 2024. Over half (54%) are also willing to reduce non-essential expenses to budget for travel, and close to one in three (32%) who travel plan to create dedicated travel savings funds this year.

Exactly how do Canadians plan on adjusting their spending habits? 1 in 4 of those surveyed said they would cut alcohol completely if it meant saving for a trip, while 40% admitted they would give up dining out to save for the next adventure. Thirty-three per cent of all Canadians would cut spending on new clothes, and over a quarter (26%) would sell their unused items to generate travel funds.

“Both international flight search demand and pricing are up year over year, indicating Canadians are itching to get away but may need to get creative in order to do so,” said Leon Mulder, senior country manager at KAYAK Canada. “To fund their getaways, Canadians are looking to scale back on non-essential expenses.”

To help Canadians save for their next vacation, KAYAK is launching the Vacay Valuator, a new tool that measures how far they can travel by making small savings changes. Based on the average cost of everyday items, travellers can choose what to save on and for how long. The Vacay Valuator then quickly shows them what flight routes are available for that proposed saving.

KAYAK also analyzed its internal data to reveal the top travel trends for 2024. Here are some key findings:

Asia is still going strong. Asia was the #1 trending region in 2023 and is up another 69% from last year. Expect to see Hong Kong, Shanghai and Japan to top the charts.
Canadians are venturing out internationally. Of KAYAK’s top trending destinations, there’s been an 80% drop in destinations within North America. Searches for international airfare, on the other hand, are up 45% year-over-year, with Asia (+69%), the Middle East (+60%), and Europe (+56%) all seeing significant momentum versus this time last year.
Don’t wait to book. With international travel so hot this year, Canadians won’t want to procrastinate on booking flights. If they’re eyeing cities in Europe, Asia or South Pacific in 2024, KAYAK suggests booking 7-8 months in advance as the sweet spot. By booking in that window, they can save between 15%-35%.
Hit the beach. Of those travellin gin 2024, KAYAK found that 19% are most interested in a ‘beach vibes’ vacation. Top destinations seeing a decrease in airfare since last year include Tampa (-21%), Las Vegas (-20%), Belize (-19%), Los Angeles (-19%) and San Juan (-19%).
Take the road less travelled. Canadians are searching for less popular spots to travel to. Some of the world’s trendiest destinations are seeing a decrease in searches, including Sydney (44% decrease YoY), Hawaii Island (28% decrease YoY), Auckland (26% decrease YoY), and Bali (14% decrease YoY).