Do Canadians take vacation?
According to Expedia's Vacation Deprivation Report, Canadians tend to go long stretches without time-off with 21% of Canadians more likely to go a year or more between vacations, compared to 18% of workers from outside of Canada.
"We may not be able to control how many days off we get, but the research begs the question: What can we learn from other countries that will help Canadians use their time off to the fullest extent," explains Head of Media Relations for Expedia Group, Melanie Fish.
"In Japan, people take time off every month instead of just twice a year. For the French, a full month of vacation still doesn't feel like enough time," says Fish. "Clearly there's a lot to borrow from, whether it's spreading your [paid time off] PTO throughout the year or prioritizing rest on your next vacation."
Only 5% of Canadians take a monthly vacation, compared to 32% for Japanese workers. What's remarkable is that Japanese workers, on average, take fewer vacation days on an annual basis, compared to Canadians — 12 compared to 18, respectively. One big difference, as determined by the Expedia research, was that Japanese workers are more likely to take advantage of federal holidays or office and school closures to schedule more frequent but short getaways.
Prioritizing time-off matters
A fifth of Canadians didn't use all their time off in 2023 because they were saving up for a big trip, which often results in leaving days unused. On the other hand, 30% of the French surveyed opted to spread their days out evenly throughout the year, instead.
The residents of Hong Kong were the only respondents who admitted to taking more time off than they were allocated. In 2024, 15% plan to repeat to continue to this practice, compared to 12% in Canada.
What we prioritize during our time-off matters
Not only do Canadians not take advantage of time off but the majority of Canadians don't prioritize rest and relaxation during their time off. Almost two-third of Canadians (65%), prioritize rest and relaxation, while more than three-quarters (84%) of Japanese travellers prioiritize rest and relaxation.
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Start Trading TodayMake the most of your travels with these helpful tips
For many Canadians a vacation or time-off is often hampered by an inability to budget the expense of time away. As a result, many Canadians get creative with how they find the money to enjoy their time-off from work.
One common strategy is to use a rewards credit card — a card that offers points or rewards for spending and lets the user use these loyalty points towards the purchase of travel-related expenses, such as car rentals, hotels and flights.
The benefit of a rewards card is that the rewards are earned for spending already allocated within your budget. For example, you can earn 5x the points on grocery and restaurant charges when you use certain American Express credit cards, while other cards — like the BMO CashBack Mastercard and the Scotiabank Momentum Visa Infinite — offer 3% to 4% cashback on grocery purchases.
Another advantage to using a credit card to help with the costs of travel is that many travel credit cards offer travel insurance as well as travel perks, such as no foreign exchange fees.
There are, however, some important tips and tricks to be mindful of before jetting off on your next vacation and using your credit card. Here are five key strategies to keep in mind when before using a credit card before and during your travels.
#1. Find out if your card is widely accepted when travelling overseas
Visa and Mastercard credit cards are widely accepted in most countries. Many countries are also seeing a growing acceptance of American Express cards.
The best option to confirm if your Canadian credit card can be used in another country is to do a little prep work before you leave. Before departing on your adventure, notify your credit card issuer of your upcoming travels and to which countries you’ll be visiting. Not only with you get confirmation that the card will work overseas but this notification will reduce the risk of your credit card company flagging your account for fraud or suspicious activities. Some banks allow you to notify them through their mobile app or website. For more tips, check out the Money.ca guide on using your credit card overseas.
Using tap to pay when on vacation in another nation
Not all credit card terminals allow tap or contactless, and some won’t accept chip and personal identification numbers (PIN). For instance, some countries require a six-digit pin, while others still require you to sign a slip.
To reduce the chance of having your card rejected be sure to confirm your pin before you depart. Also, call your credit card provider and ask if additional numbers need to be added to the pin when using the card overseas. In many cases, adding two zeros before your regular PIN is enough to enable you to use the card and tap-and-go terminals.
If you are travelling in countries like the US, you may be asked to input your ZIP code when making a credit card purhcase. The best practice is to enter the numeric three digits of your postal code plus two zeros, and the payment should go through. For example, for the postal code M1A 2B3, you will enter '12300' as your ZIP code.
Fees associated with credit card use abroad
Many credit cards in Canada charge a foreign exchange fee on every transaction, on top of the currency exchange rate back to Canadian dollars. These fees are typically 2.5% of the purchase amount.
If you travel often, look into a card that doesn't charge foreign exchange fees on transactions, such as the Scotiabank Passport Visa Infinite Card, which also offers three times the Scene+ points on every $1 you spend at Sobeys, Safeway, IGA, Foodland and participating Co-ops and more. The added bonus is that because this is a Visa card, your card will probably be accepted in far more places, particularly in locations outside of major cities.
Credit cards that are best for travel
The best credit cards are those that reward you for everyday spending, while offering travel perks that help ease your stress or offer value-added benefits. For instance, credit cards that waive foreign exchange fees or a good option, as are cards that offer higher cashback earnings on foreign dollar transactions. For instance, the Rogers Red World Elite Mastercard offers 3% cash back on US dollar foreign charges, while Home Trust Visa waives all foreign exchange fees.
Should you choose local currency or Canadian dollar transactions?
You will also want to be mindful of dynamic currency rates set by networks like Visa, Mastercard and American Express. These are typically shown on a payment terminal at checkout, and users are asked to select which currency they want to charge the payment to: The local currency or the Canadian dollar. It is typically best practice to choose the local currency.
Carry additional methods of payment
If all else fails, make sure you have access to backup payment methods, including debit and cash. While credit cards are widely accepted in North America, there are countries where cash remains highly preferred or the only acceptable payment method.
It’s essential to research before travelling, notify your credit card company, be vigilant while spending, and frequently review your credit card transactions on your bank’s mobile app.
Survey methodology
The Expedia Vacation Deprivation report was completed between March 26 and April 3, 2024 by by Harris Research Partners, a global strategic research firm, responses were gathered using an amalgamated group of best-in-class panels. The margin of error for the global average is 1% to 4% and is statistically significant at a 90% confidence rate. Expedia first commissioned Vacation Deprivation in the year 2000 to examine the work-life balance of people worldwide. The annual study is currently in its 24th year and was conducted online among 11,580 respondents across the US, UK, Canada, Mexico, France, Germany, Australia, New Zealand, Japan, Hong Kong and Singapore.
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