A year-end poll run by Leger has found that a quarter to a third of Canadians reported spending less on holiday expenses this year than in 2021, as higher inflation and a potential recession tops the list of Canadians’ greatest worries for 2023.
and RATESDOTCA, asked 1,526 Canadians about their holiday expenses this year, as well as Canadians’ impression of 2022 as a whole and their outlook for 2023.
Respondents could select that a category either didn’t apply to them or that they don’t know, with travel and alcohol being the two sections that had the largest chunk of these answers. Those aged 55 plus were generally the least likely to report spending more on any category of holiday spending this year, with those aged 18-34 being the most likely to spend more compared to 2021.
Around 45 per cent of Albertans said they were spending less on gifts and travel this year, compared to the national average of 33 per cent for both categories.Across the board, Canadians were more likely to report spending less on holiday spending this year than Americans. The largest difference was in entertainment spending, where 35 per cent of Canadians said they were spending less compared to just 23 per cent of Americans surveyed.
When asked what they were worried about for 2023, the five categories that garnered the most worry were higher inflation/interest rates , an economic recession , the war in Ukraine expanding , catastrophic weather events spurred by climate change , and the use of nuclear weapons .
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