Summertime is upon us, and with that comes the season of spending on new bathing suits, cottage getaways and drinks on the patio — at least for some.
A recent poll by CIBC found that 67% of Canadians are focused on saving money rather than spending this summer, allocating most of their cash to everyday expenses like gas and groceries. Additionally, 46% said they are actively trying to reduce their daily spending.
Forgoing international travel to explore local getaways
Canadians have already been limiting their trips to the U.S. since President Trump’s election, and this trend is projected to continue in the summer months with only 14% of Canadians planning to travel to the U.S. this summer per CIBC’s poll.
But it’s not just the states that Canadians are avoiding; 65% are planning to stay local altogether, opting for swims in Lake Ontario instead of the Adriatic Sea.
Supporting local businesses
While Canadians are prioritizing saving this summer, that doesn’t mean they aren’t spending at all. Rather, they’re being a bit more choosy about where their spare cash goes.
A recent survey by TD Bank Group found 89% of Canadians feel it’s important to support small businesses this summer.
Beyond that, Canadians are being meticulous mindful of their local travel by doing their research ahead of time. TD’s survey found 63% will research shops, restaurants and attractions ahead of time, with 73% considering travel to a destination to visit a unique business or attraction they researched.
Sources
1. CIBC: Frugal Fun in the Sun: CIBC poll finds Canadians prioritizing saving over spending this summeri (June 4, 2025)
2. TD Stories: Summer Plans? Stay Local, Spend Local: Majority of Canadians Intend to Support Small Businesses While Travelling Domestically this Summer (June 11, 2025)
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
