TICO Study Finds Age and Confidence are Affecting Travel Decisions

The findings from a new study done by the Travel Industry Council of Ontario (TICO) are in line with what a the industry is reporting – domestic travel is remaining strong this year.

TICO also revealed that while there is strong interest in travel among Ontarians this year, where they go, and how confident they feel, varies widely by age.

53% are more likely to travel within Ontario, and 50% across Canada and 40% have delayed or changed U.S. plans due to economic and political concerns.

Older travellers are especially cautious with 61% of those aged 65+ avoiding the U.S.

Younger Ontarians (35 and under) are leading the way, with 36% planning international trips, compared to just 23% of those 55+.

At the heart of these decisions are attitudes towards the US politics and economic situation, as a whopping 76% say politics are influencing their travel choices. Ontarians aged 65+ feel the pinch more with 72% saying tariffs significantly impact their plans, and 47% are significantly affected by the dollar’s value.

To top off those numbers, Ontarians aren’t very confident any travel plans will go as planned; only 34% feel they will. That number drops to 27% in the 55+ age group.

TICO’s numbers are in line with a recent TRAVELSAVERS study of their advisors who found Canada is not only one of the most in-demand destinations, it’s also the number one recommendation from advisors seeking to ease client concerns about cost, complexity, and global uncertainty.

The high cost of travel is the top concern clients in the TRAVELSAVERS survey, cited by 62% of responding advisors. As well, nearly half (46%) identified unfavourable exchange rates as a client concern. Geopolitical issues were mentioned by 38%, lack of consumer confidence in the economy was cited by 36%, and 35% say clients are worried about inflation and rising prices.

TICO says they see an opportunity for Ontario’s travel agencies, booking websites and tour operators, stating in a press release that in “a climate of uncertainty, TICO-registered businesses are positioned to offer peace of mind. From navigating shifting policies to securing flexible bookings, your expertise is more valuable than ever. TICO’s research finds older travellers are seeking reassurance, while younger ones are looking for guidance as they continue to explore the world.”

There’s good news for advisors -the survey found that across all age groups, 47% of respondents are likely or very likely to book their travel with a travel advisor.

TICO offers tools to help highlight your role as a trusted advisor, check out TICO’s Registrant Toolkit for shareable information about the consumer protection you offer and for more insights from TICO’s survey, please click here.