Canadians Should Invest In Themselves & Turn Tax Season Into Trip Season: Kayak

According to a new survey from KAYAK, despite how eager Canadians are to file their taxes (32%) and get their refund sooner, nearly a quarter (24%) have admitted to not spending their tax season on anything fun – and this year can be the year to change that. As Canadians look for the best way to invest their tax refunds, it’s important to remember that there’s no better investment than the one you make on yourself. 

In fact, despite earlier data from KAYAK revealing the growing number of Canadians (27%) eager to take advantage of workcations this year, only 1 in 9 (11%) plan to use their tax return to take a trip or vacation.  

These behaviours differ from our neighbours down south, with KAYAK revealing interesting comparisons between how Canadians and Americans plan to use their tax return*: 

  • Half of Canadians (50%) use their tax refund to pay off debt (i.e. credit cards, loans, bills) compared to 41 per cent of Americans 
  • More Americans have used their tax refund in past to take a trip (16%) compared to only 9 per cent of Canadians
  • 1 in 6 Americans who expect to get money back for their 2021 returns are enthusiastically planning to spend it on travel, compared to only 1 in 9 Canadians

Canadians on a tight budget shouldn’t rule out the possibility of investing in themselves this summer. For those looking to escape and make the most of the season (and their tax return), KAYAK has compiled a list of the most affordable roundtrip destinations for Canadians by city to help take their next trip without breaking the bank**:

Ontario
– New York, NY – $200 
– Chicago, IL – $227 
– Newark, NJ – $241
– Boston, MA – $241 
– Fort Lauderdale, FL – $267 
British Columbia
– San Francisco, CA – $229 
– Los Angeles, CA – $265 
– Las Vegas, NV – $319 
– San Diego, CA – $320
– New York, NY – $382
Alberta
– San Francisco, CA – $235 
– Seattle, WA – $303 
– Las Vegas, NV – $309
– Los Angeles, CA – $348
– New York, NY – $427
Quebec 
– New York, NY – $284 
– Fort Lauderdale, FL – $350 
– Chicago, IL – $357 
– Orlando, FL – $405 
– Tampa, FL – $419 

To help Canadians looking to splurge on their wanderlust, KAYAK also launched an interactive tax refund calculator to show the ways that Canadians can consider reinvesting in themselves this year. I’d be happy to put you in touch with a KAYAK spokesperson who can discuss these tax return trends and speak to how Canadians can best use their tax refunds to plan their next trip.

*YouGov Methodology:

This survey has been conducted using an online interview administered to members of the YouGov Plc panel of individuals who have agreed to take part in surveys. All figures, unless otherwise stated, are from YouGov Plc. Canadian survey: Total sample size was 1005 adults. Fieldwork was undertaken between 4th – 14th March 2022. The survey was carried out online. The figures have been weighted and are representative of all Canadian adults (aged 18+); U.S. survey: Total sample size was 1084 adults. Fieldwork was undertaken between 16th – 17th February 2022.  The survey was carried out online. The figures have been weighted and are representative of all US adults (aged 18+).

**Methodology: KAYAK considered searches originating in Canada for international travel from 5.27.22 through 9.5.22 (all prices listed are in USD).

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