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inflation

Ontarians love to travel, but with costs rising due to inflation, it has become more important than ever to find ways to save money, while still crossing off destinations on your bucket list. Here are some good travel tips from the Canadian Automobile Association South Central Association. “This year, more and more people across the province are eager to embark on their next adventure, whether that means disconnecting in a tropical paradise or exploring the history of an ancient city,” says Susan Postma, regional manager, CAA Club Group. “While we are seeing a renewed interest in travel, we know the Read more

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A new study finds that Americans might change their plans a little due to inflation and economic issues, but a strong majority are planning to travel. Further conveying the steadfastness of the American traveler, new research shows that today’s global economy continues to impact how and when most Americans will travel – but not if they’ll take a trip. According to new data by MMGY Travel Intelligence, 6 in 10 U.S. adults (58%) plan to take a vacation in the next six months despite inflation, the rising cost of travel and other economic factors. Among those not planning to vacation Read more

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Your travel dollars likely won’t go as far next year. Air Monitor 2023, published today by American Express Global Business Travel (Amex GBT), forecasts widespread air fare price rises in North America and around the world, due to a range of factors including inflation, rising fuel costs, and capacity issues. The report is an annual forecast of air fare movements on key business travel routes. North American domestic fares are expected to see moderate rises (3.4% business, 2.9% economy) as more capacity comes online in 2023. Europe-North America routes are expected to see modest rises of 3.7%, while intra-European flights Read more

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Canadians and Western Europeans are the travellers most likely to hit the road in the next 12 months, according to a new survey from Expedia Group. The study found that 41% of both Canadian and Western Europe residents are very likely to book or have already booked an international trip in the next 12 months. That’s considerably higher than the global average of 30%, and it bodes well for airlines and tour operators selling outbound trael from Canada. Booking a trip after binging a popular new series will become serious business in 2023. Expedia research confirms that streaming movies and Read more

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Canadians’ holiday travel budgets are more than double what they were last year, a trend that bodes well for airlines and the tourism industry. IBM’s Holiday Shopping and Travel Report finds that, in response to economic disruption and financial strain, Canadian consumers are rethinking their wish lists, with many diverting their holiday budgets from shopping to travel. This holiday season, Canadians are more concerned about rising costs and inflation (64%) than COVID-19 (56%), and they are recalibrating their celebration plans accordingly. – Compared to last year, Canadians’ holiday travel budgets are up by 131%, significantly higher than the global average Read more

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