Go away by staying at home in Canada
April 6, 2021
Pent up demand for travel, plus the current pandemic concerns, could result in Canadians staying close to home to vacation, writes Peter Watson.
Explore Canada. That could be this year’s vacation.
Almost by default, many of us think that a vacation involves going to another country. Then the pandemic hit. Life got a lot more isolated, more complicated, including boarder restrictions.
Financially it is a win-win if you vacation at home. Better for you and for those that live in the communities you visit.
Travel costs are for more attractive when you can drive to a location. Plus, air travel within Canada can be less expensive than normal as the airline companies attempt to lure customers back to traveling again with attractive price discounts.
Your dollar goes a lot further when you don’t go to a country, the United States for an example, that discounts our currency significantly.
You could load up the car with camping equipment and head north. That will be a different experience and particularly intriguing if there are children.
Injecting some of your travel dollars into different parts of Canada will be greatly appreciated by those communities. Many might have been hit very hard as business activity was stopped or curtailed over the last year.
Our provincial government is promoting Ontario tourism by pledging financial support in the recent March budget. Spending at home this year will have a positive impact on your fellow Canadians.
Now let’s focus on another economic reality-supply and demand.
More of us are likely to vacation in Canada so the demand for accommodation could be high. Many places will sell out.
Plan early if you want to make reservations. Be creative in the options you consider.
This has been a different year. Make your vacation special.
Peter Watson, of Watson Investments MBA, CFP®, R.F.P., CIM®, FCSI offers a weekly financial planning column, Dollars & Sense. He can be contacted through www.watsoninvestments.com