CIBC Poll: Majority of Canadians Shift Holiday Travel Plans

A new CIBC poll shows that a whopping 79% of Canadians believe travel has become less affordable over the past five years. As cost concerns continue to influence spending decisions, more families are opting to stay closer to home this holiday season.

Nearly two-thirds of respondents (62%) say they do not plan to travel over the holidays, with 31% pointing to budget constraints and 22% prioritizing saving instead.

Still, despite ongoing affordability challenges, almost four in 10 Canadians (38%) intend to travel this holiday season, a slight decline from 41% in 2024. Younger Canadians—especially Gen Z—are driving much of that travel demand, with travel plans twice as common among Gen Z as Boomers (50% versus 26%). Among those who are traveling, international trips are becoming less common, as more Canadians choose domestic getaways and closer-to-home experiences.

“Canadians are showing both resilience and adaptability this holiday season, and whether its travelling within the country or gathering at home, the focus is on connection, comfort, and making smart financial choices ” said Carissa Lucreziano, Vice-President, Financial Planning and Advice at CIBC.

Travel destinations for holiday 2025

• 12% plan to head abroad
• 13% will travel within Canada
• 19% are planning trips within their own province

Notably, almost one in five (18%) travellers plan to use credit card rewards points to help cover holiday travel expenses.