Canadians Plan to Spend Average of $3,825 on Vacation Travel This Summer: BMO Report

People relax at Verdun Beach in Montreal on June 30, 2025. The Canadian Press/Christinne Muschi

Canadians are planning to spend an average of $3,825 on summer vacations this year, according to a new report.

More than three quarters (77 percent) of Canadians are planning to travel this summer, with an average spending budget of $3,825 to spend on flights, accommodations, rentals, gas, and food, according to a July 3 report from the Bank of Montreal (BMO).

“Despite economic pressures, Canadians are still planning on making the most of their summer through meaningful experiences such as travel and celebrations with loved ones,” BMO’s head of specialized sales, Anthony Tintinalli, said in a July 3 news release.

While 62 percent plan on spending the same amount or more on summer travel compared to last year, 55 percent have altered their vacation plans due to increasing costs and inflation, the report indicates.

Additionally, the survey found that 59 percent of Canadians are planning to travel within the country to “save money.”

The report indicates that 46 percent of Canadians reported reducing their spending throughout the year to afford summer vacation, while 32 percent said they compromised their long-term savings to pay for their summer travel plans.

BMO Senior Economist Sal Guatieri says that amid evolving trade tensions over the last few months, Canadian consumer confidence “remains low but is improving.”

Other Summer Spending

In addition to summer vacation, the report examined other areas Canadians are allocating their spending this summer. Thirty-four percent of surveyed Canadians plan to spend the same amount or more on weddings for family and friends this summer compared to last year, while more than half (54 percent) said they have no intention to spend on weddings this summer.

Thirty-nine percent plan to spend the same amount or more on special events this year compared to last year, including graduations and showers, while nearly half (48 percent) do not have special events in their spending plans this summer.

The report says family activity budgets will “feel the heat” this summer, as only 29 percent of Canadians report planning to spend the same amount or more this year on summer camps and child care compared to their spending last year, while 61 percent say these activities are not in their budget this summer.

When it comes to home renovations, 42 percent of Canadians say they will spend the same amount or more this summer compared to last year, while 44 percent say they have no plans to do home renovations during the summer, according to the report.

Large purchases, on the other hand, will be less popular this summer, the survey suggests, as just 30 percent plan to make a large purchase this summer, such as a home, a car, or a boat, while 57 percent do not plan on doing so.

Points and Reward Programs

The news release also indicated that many Canadians will be making use of loyalty programs this summer, such as Air Miles, to help with the cost of daily expenses, as 78 percent of those surveyed report being concerned about the cost of living while 76 percent report a concern over rising inflation.

Around 52 percent of Canadians plan to use points and loyalty rewards toward groceries, while 25 percent plan to put them toward vacations and trips, and 18 percent will use them for entertainment expenses including events and dining, according to survey results.

Still others (16 percent) say they intend to use points and rewards to help pay for monthly bills, while 5 percent will use them for weddings and another 5 percent will use them for special events with family and friends.

“While some Canadians may be adjusting how they spend this summer, the desire to travel and enjoy meaningful experiences are still on the horizon for many,” Jason Beales, chief strategy and commercial officer with the Air Miles Reward Program, said in the news release.