Canadians plan to spend less this summer, but one generation intends to splash out: survey

More than one in three Canadians (35 per cent) plan to spend less this summer, with 44 per cent citing fuel costs as the reason they’ll be cutting back on travel.

The findings come from a new TD survey, which polled a representative sample of 1,500 Canadian adults between April 17 and April 27, highlighting how persistent cost pressures are prompting Canadians to make more deliberate financial choices.

Canadians who are scaling back their summer plans are doing so for two main reasons. According to the survey, 40 per cent point to higher transportation costs as a key factor, while 62 per cent are redirecting spending towards everyday costs such as groceries, fuel and housing.

Canadians are adapting to cost pressures through practices like redeeming loyalty points (66 per cent) and choosing lower-cost options like second-hand or DIY (36 per cent).

And when it comes to travel, 44 per cent of Canadians polled said the rising cost of fuel and airfares is shaping their summer travel choices. Meanwhile, 61 per cent of those still planning trips are actively cutting travel costs.

This may not come as a surprise, as fuel surcharges resulting from the conflict in Iran continue to make almost everything more expensive. Documents recently obtained by National Post show that Canadian trucking and delivery companies have passed increased fuel costs on to customers, which economists say ultimately raises consumer prices.

And Canadians have been travelling less for months now. Data from Statistics Canada released in February showed that trips abroad made by Canadians fell by 24.4 per cent in the third quarter of 2025 compared to the same period in 2024.

But there is one generation that’s bucking the trend.

The TD Survey found that Gen Z Canadians are the most likely to increase spending this summer, with nearly one-in-four (24 per cent) planning to spend more on travel.

Gen Z respondents also shared intentions to spend more on ‘FOMO’-driven experiences (30 per cent), dining out at trendy restaurants (29 per cent) and shareable or photo-worthy activities (28 per cent) this year.

A key driver of this is social pressure, which 32 per cent of Gen Z respondents said is influencing their summer spending decisions — more than double the national average of 14 per cent.

Meanwhile, support for homegrown businesses remains strong, with 79 per cent planning to support local or Canadian businesses this summer. Additionally, 76 per cent of those who are planning to travel intend to stay within Canada, with 55 per cent exploring their own province and 41 per cent travelling elsewhere domestically.

This follows a recent report from Airbnb, which recorded a record year for Canadian domestic travel in 2025. The company estimated that all travel in Canada generated a record of nearly $10.9 billion in economic activity last year.