Despite the current economic uncertainty, many Canadians are looking to make their travel dreams come true, and are willing to spend to make it happen, according to a new report.

American Express’ 2024 Global Travel Trends Report, released on Tuesday, found that a third of Canadians are looking to plan a major trip for 2024, such as a dream vacation or multi-country tour.

Among those looking for a major trip, 70 per cent are considering Europe, while 45 per cent are looking to spend more than a week abroad.

Vanessa Crooker, vice president of Brand, Partnerships and Lifestyle Benefits at American Express Canada, said in a news release that the report “highlights the continued desire for Canadians to prioritize unforgettable travel, from spontaneous trips to once-in-a-lifetime experiences.”

Canadians are also bucking the trend of economic tightening and are willing to spend a little extra to afford that vacation, according to the report.

It found Canadians are willing to spend $8,824 for leisure travel this year, the second most globally. That said, nearly half of Canadians are planning to save by travelling away from peak times (44 per cent) or to use points to cover hotel or airfare (41 per cent).

METHODOLOGY

This poll was conducted between Jan. 31 and Feb. 8, 2024 among a sample of 2,005 U.S. adults, 1,007 Australia adults, 1,002 Canada and U.K. adults, 1,002 Japan adults, 1,006 Mexico adults and 1,005 India adults who have at least a $50k+ income equivalent and typically travel at least once a year.

The interviews were conducted online. Results from the full survey have a margin of error of plus or minus two to four percentage points. Some geographies may be weighted with fewer variables depending on local census data availability.