A new PayPal Canada survey offers a glimpse at how millennials are planning their next trip and where they are spending after two years of pent-up excitement.
Millennials on the Map – an online poll that interviewed 1,500 Canadian millennial respondents in May 2022 between the ages of 26-42 – shows that nearly half of millennials plan to splurge on their next vacation.
But 82 per cent surveyed say inflation will impact their dream getaway this year with 16 per cent ranking budget management as their top travel finance concern, even more than changing plans due to COVID-19 (13 per cent).
Despite some travel restrictions lifting around the world, Canadians are staying close to home as they map out their travel plans for 2022, the survey says.
The majority of respondents (97 per cent) plan to travel within North America this year and 25 per cent prefer to explore locally in Canada.
Even amid an era of influencers, 43 per cent are checking off destinations on their personal bucket lists crafted by their own research to experience the greatest trip of all times – also known as a “G.O.A.T trip.”
"Between checking flight prices and scrolling through accommodations, booking travel can take hours which is why it's no surprise that 34 per cent of millennials surveyed are more likely to buy experiences when their payment information is filled automatically," said Malini Mitra, director communications, PayPal Canada.
Canadian millennials' travel trends:
Exploring their own backyard: In Canada, the top provinces millennials are planning to explore are Ontario (35%), British Columbia (27%) and Alberta (25%).
Other top destinations include Australia (12%), Bahamas (11%), England (11%) and France (11%).
Doubling down on discounts: 85 per cent say sales and discount codes are important when it comes to booking experiences or buying essentials for a getaway.
Mapping out the journey: Part-time travel agent, full-time millennial – this generation is focusing on designing the ultimate tour for themselves with nearly six in ten (58%) preferring unique or bespoke trips and experiences.
Sustainable sight-seeing: More than half (52%) of Canadian millennials who responded consider greener options when booking travel, shopping while on vacation, or in the experiences they book for their upcoming adventures.
Group travel gone digital: Four in 10 millennials (42%) prefer to use digital money transfer apps to split bills when travelling.
Banking priceless souvenirs: 40 per cent of Canadian millennials surveyed say they've made a life-long friend or met a significant other while travelling.
Whereas 27 per cent witnessed a one-of-a-kind experience in nature (i.e. Aurora Borealis, bird migration); 26 per cent participated in a local, annual cultural celebration (i.e. Mardi Gras, Cinco de Mayo, Oktoberfest); 20 per cent ran into someone they lost touch with and reconnected; 18 per cent injured themselves having too much fun (i.e. broke a bone, got stitches) and 16 per cent fell in love with the destination and moved there permanently.