Just 17% of respondents are planning out-of-province travel during the holiday season and 38% cited cost as the biggest barrier.
“This year’s Vacation Confidence Index Study highlights how economic pressures are influencing Canadians’ travel decisions,” said Dan Keon, vice president of marketing and insights at Allianz. “While the aggressive post-pandemic travel rebound appears to be levelling out, it’s great to see that the desire to travel remains strong.”
For those that are travelling, insurance is a key consideration with 90% planning to secure some form of travel coverage for upcoming trips, including through work benefits, credit card coverage or some other means.
“Travel insurance is more essential than ever, not only for medical emergencies, but to protect trip investments and provide the confidence needed to enjoy travel to the fullest,” added Keon.