PayPal Canada’s latest consumer research showed that even as travel picks up, nearly 50% of millennials there “plan to splurge on their next vacation.” However, over 80% of respondents expect inflation to impact their dream getaway plans.
As a result, the survey showed that 16% of Millennials surveyed ranked budget management as their top concern when it comes to funding travel, “even higher than changing plans due to COVID-19 (13%)” , PayPal Canada said in its report.
The survey also found that despite the lifting of some travel restrictions around the world, respondents said they were planning their trips closer to home this year. Of those surveyed, 97% said they plan to travel to North America this year, while 25% only travel to Canada.
Millennials are also taking their own initiative when it comes to travel this year. The report’s authors noted that even “in the midst of an influencer era, 43% are checking off destinations on their personal bucket lists curated by their own research to experience the greatest trip ever – also known as GOAT travel name”.
Naturally, PayPal Canada wanted to know the payment preferences of respondents. Malini Mitra, director of communications for PayPal Canada, said that between checking flight prices and scrolling through accommodations, “booking a trip can take hours, so it’s no surprise that 34% of Millennials surveyed are more likely to purchase experiences when their payment information is filled in automatically.
Mitra added that PayPal Canada is helping Canadian travelers “speed up that process as quickly as they start exploring the world again with PayPal Checkout and our other suite of products so they can have an unforgettable experience from start to finish.”
Digging deeper into the survey results, it was found that among those surveyed who travel to Canada, the top provinces they plan to explore are: Ontario (35%), British Columbia (27%) and Alberta (25%). Outside of Canada, the main destinations are Australia (12%), the Bahamas (11%), England (11%) and France (11%).
The report’s authors also said that 85% “of these enthusiastic nomads say sales and discount codes are important when it comes to booking experiences or buying getaway essentials.” And more than 50% said they also wanted greener travel options.
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