ING DIRECT survey finds gas prices keeping more than a third of
Canadians closer to home
TORONTO, June 15, 2011 /CNW/ - Exotic trips and luxurious getaways are
taking a back seat as Canadians are more inclined to stick to their budgets when planning
their summer vacations this year, according to a recent survey
commissioned by ING DIRECT. The poll found that 62% of Canadians are more focused on the
costs of travel, accommodation and attractions over the destination
The high cost of gas proved to be a sticking point in some Canadians'
travel plans. Forty-three per cent of respondents admitted that they
are no longer planning a particular trip (8%) or plan to stay closer to
home (35%) as a result of higher gas prices. Interestingly, the
strength of the Canadian dollar hasn't prompted more Canadians to
consider a trip abroad; 29% of respondents said they were more likely
to travel to abroad thanks to a higher Canadian dollar, compared with
57% of Canadians who remained neutral.
Regionally, the survey found:
British Columbians take the least amount of vacation, with 62% planning
only a short summer trip of four days or less. Seventy-five per cent of
British Columbians plan to spend their vacation days travelling within
Almost three quarters of Albertans (70%) feel it's important to take a
summer vacation away from home and 64% plan to either travel within a
different province or visit the U.S.
More than half of those living in Manitoba and Saskatchewan (51%) plan
to travel to another province this summer.
17% of vacationing Ontarians will travel abroad this summer, while
two-thirds will travel within the province.
Quebecers love their vacations and ranked highest among all provinces
with 64% taking more than eight days off during the summer months.
Ironically, 37% of those admit that they do not save for vacations in
advance, compared to 31% of Canadians nationally.
Most people in Atlantic Canada will travel within their province this
summer, with 68% choosing to stay local.
Nearly half of Canadians (49%) surveyed plan to spend the same amount of
money as last year on their summer vacations, while 30% stated they
will be spending less, and 21% plan on spending more on travel this
summer. Fifty nine percent of Canadians expect to spend under $1,000 on
travel, while merely three per cent will shell out over $5,000.
When it comes to funding their summer trips, Canadians appear to be
disciplined savers. More than half of Canadians (52%) save a little bit
of money on a weekly, biweekly or monthly basis, and another 10% put
their tax refunds towards their vacation fund. Incredibly, 85% of
Canadians indicated they are not willing to go into debt to fund their
"It's encouraging to see that Canadians are thinking ahead and saving
for vacations year round, as opposed to relying on credit to cover
costs," said Peter Aceto, President and CEO, ING DIRECT Canada. "It
shows most Canadians are sticking to their budgets and keeping it
simple by finding creative, budget-friendly and local options to have
fun and spend quality time with family and friends."
The survey found that Canadians' ideas of an ideal getaway are simple,
with over a fifth of respondents (22%) choosing to spend their time off
at the cottage or on a camping trip. Sixteen per cent chose a road trip
around the province or to neighbouring provinces as their ideal
When asked which Canadian celebrity they would most like to take a
cross-Canada road trip with, respondents overwhelmingly chose Shania
Twain (41%) and Rick Mercer (33%). Stephen Harper and Pamela Anderson
each received 10% of the votes, while a mere six per cent chose to road
trip with Don Cherry.
From May 30 - May 31, 2011 an online survey was conducted among 1,003
randomly selected Canadian adults who are Angus Reid Forum panelists.
The margin of error—which measures sampling variability—is +/- 3.1%, 19
times out of 20. The results have been statistically weighted according
to the most current education, age, gender and region Census data to
ensure a sample representative of the entire adult population of
Canada. Discrepancies in or between totals are due to rounding.
About ING DIRECT
ING DIRECT is Canada's leading direct bank with over 1.7 million Clients
and more than $37.6 billion in total assets. ING DIRECT gives the power
of saving to all Canadians by offering high-value, simple products such
as high interest savings accounts with no fees or service charges, low
rates on mortgages and a no-fee daily chequing account that actually
pays interest. Low cost, index based mutual funds are sold through
ING DIRECT Funds Limited. ING DIRECT has been operating in Canada since
1997, and paid more than $4.5 billion in interest to clients.
ING DIRECT is open for banking 24 hours a day, 7 days a week, at ingdirect.ca, on mobile devices at m.ingdirect.ca or by calling 1-800 ING DIRECT (1-800-464-3743).
Follow Peter Aceto on Twitter at: Twitter.com/CEO_INGDIRECT
And find ING DIRECT at: Facebook.com/SuperStarSaver; Twitter.com/SuperStarSaver; YouTube.com/SuperStarSaver
SOURCE ING DIRECT
For further information:
Amanda Petriglia, ING DIRECT
Magda Jarota, MAVERICK Public Relations
416-640-5525 ext. 244