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Yet 83% choose to fly economy rather than first class
Affluent Canadians (those with investible assets of $1 million or more) expect to spend an annual average of $12,393 on leisure travel (including airfare, accommodation, food, etc.), according to a BMO Private Banking report.
Other highlights:
The study also found that upon arriving at their destinations:
Wealthy Canadians most often travel to the U.S. (74%) or stay within Canada (57%). Half vacation in Europe (49%) while other popular destinations include the Caribbean (39%) and Mexico (27%).
According to the study, winter is the most popular season for travel (70%); more than half vacation during the summer, spring and fall. However, only one in 10 take leisure trips over the Christmas holiday season.
And don’t forget travel insurance. A recent BMO Insurance study showed that needing medical attention while abroad (41%) is one of the top concerns for Canadians and more than one third (36%) have required some form of medical attention while on vacation.
This article orginally appeared on Advisor.ca.
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