Canadians plan to spend an average of $3,825 on summer vacations: BMO report

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A new report reveals that 62% of Canadians plan to spend the same or more on vacations and travel this summer compared to 2024, with an average budget of $3,825, which includes the cost of flights, hotels and accommodations, rentals, gas and food.

BMO’s Real Financial Progress Index also highlighted that 59% are opting to travel within Canada to save money, 55% have altered their vacation plans due to rising costs and inflation, 46% have reduced their spending throughout the year to afford their summer vacation plans and nearly one-third (32%) admit to compromising their long-term savings to afford travel plans.

“Despite economic pressures, Canadians are still planning on making the most of their summer through meaningful experiences such as travel and celebrations with loved ones,” said Anthony (Tony) Tintinalli, head, specialized sales, BMO, in a statement.

The poll also found nearly four in five (77%) Canadians plan on travelling this summer.

“Canadian consumer confidence remains low, but is improving,” said Sal Guatieri, senior economist, BMO, in a statement.

“The U.S. trade war remains a source of anxiety for many Canadian workers and households, but recent progress towards de-escalation, together with a rebound in equity markets, has lifted consumer spirits in April and May. The improved mood likely explains the increased appetite for travel this summer.”

The research was conducted by Ipsos in Canada from March 3-26, 2025.

A sample of 2,500 adults ages 18+ in Canada were collected. To account for recent changes in the economic situation, certain questions were asked again from April 17-20, 2025 among a sample of 2,001 adults ages 18+ in Canada.

The survey have a credibility interval of +/- 2.7 per cent 19 times out of 20, of what the results would have been had all Canadian adults 18+ been surveyed.

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