BMO Poll Shows Majority Canadians Planning A Trip in Spring Break

This article was last updated on April 16, 2022

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Findings of a survey conducted by the Bank of Montreal (TSX:BMO) were published on Wednesday, showing that 79 per cent of Canadians are recently planning a getaway between March to May.

It was found that nearly half (49 per cent) of Canadians are allegedly planning to take a short and sweet trip, lasting only a weekend. Whereas, some thirty-five per cent are planning to extend their tentative duration to a week-long trip, while 13 per cent claim to stay for two weeks and remaining seven per cent intend to stay even longer than two weeks. The poll showed that majority (59 per cent) are planning to spend their vacations touring within Canada, while almost half (49 per cent) claim to be planning a trip to the U.S., and eighteen per cent intend to tour the Caribbean, Mexico, central or South America. It was further revealed that these travelers have set aside an average amount ranging from $2,157 to $6,490 for these trips. On the other hand, the reasons for travelling are mostly for visiting family (44 per cent), taking a family vacation (23 per cent) or going for a romantic tour (22 per cent).

BMO pointed out that Canadians are not set back, while making travelling plans for winter break, in sight of the decline of Canadian dollar. A chief economist at BMO Capital Markets, Doug Porter, stated that “even with the moderate decline in the Canadian dollar in recent weeks, the currency remains historically strong,” and alleged that “we continue to expect the loonie to trade just below parity through the spring travel season.”