logo
Majority of Canadians plan on travelling domestically this summer: survey

Majority of Canadians plan on travelling domestically this summer: survey

CTV News08-07-2025
The majority of Canadians plan to travel across their home country and support local businesses this summer, according to a new survey by TD Bank Group.
The survey, which was conducted by The Harris Poll Canada in May, found that 89 per cent of Canadians feel it's important to support small businesses this summer. Sixty-four per cent of survey respondents plan to travel within Canada in the coming months.
'It's particularly welcome news, as many of our small business customers have been concerned about consumer spending slowing down,' said Julia Kelly, vice president of small business banking at TD, in a news release.
The survey says 63 per cent of Canadians will research shops, restaurants and attractions at their destinations before going there.
Trips to cottages seem to be on the upswing as 46 per cent of Gen Z and 42 per cent of Millennials planning on visiting cottage country this summer.
The survey randomly selected 1,531 adults.
More to come…
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Foreign investors continue to reduce exposure to Canadian equities: StatCan
Foreign investors continue to reduce exposure to Canadian equities: StatCan

CTV News

time26 minutes ago

  • CTV News

Foreign investors continue to reduce exposure to Canadian equities: StatCan

Statistics Canada building and signs are pictured in Ottawa on July 3, 2019. THE CANADIAN PRESS/Sean Kilpatrick New data suggests that Canadian securities are falling out of favour with foreign investors, while Canadians are investing more of their money abroad. On Thursday, Statistics Canada released tracking data on Canada's international securities transactions in May, which found there was 'strong foreign divestment in Canadian shares' during the month. 'Foreign investors reduced their holdings of Canadian securities by $2.8 billion in May, a fourth consecutive monthly divestment,' the agency said in a release. 'In May, non-resident investors reduced their exposure to Canadian shares by $11.4 billion. On a sector basis, the divestment in May was widespread, led by shares from the energy and mining, management of companies and enterprises, as well as manufacturing sectors.' Foreign investors did, however, increase their holdings of Canadian government bonds, acquiring $13.1 billion compared to a $25.1 billion divestment in April. 'The activity in May reflected foreign acquisitions of provincial (+$8.0 billion) and federal (+$6.9 billion) government bonds, which were moderated by a divestment of $4.2 billion in private corporate bonds,' said StatCan. Despite the overall divestment in Canadian shares, Canada's benchmark stock index, the S&P/TSX composite, increased by 5.4 per cent in May compared to April after three consecutive monthly declines. Canadians move money out Canadian investors, meanwhile, increased their exposure to foreign securities by $13.4 billion in May, up significantly from $4.1 billion the month before, according to StatCan. 'In May, investors targeted U.S. shares, while reducing their exposure to U.S. government debt instruments,' the agency said. 'Canadian investors bought $11.5 billion of foreign shares in May, the largest investment since February. Sizable acquisitions of U.S. shares (+$14.2 billion) in May were moderated by sales of non-U.S. shares (-$2.8 billion).' The benchmark American stock index, the S&P 500, increased by more than six per cent in May compared to April after it, like the TSX, had declined for three straight months prior. StatCan said that when it came to Canadian purchases of foreign debt securities in May, investors mainly purchased U.S. corporate bonds and non-U.S. bonds, while reducing their holdings of U.S. government bonds and Treasury bills. As a result of increased investment abroad and the foreign divestment of Canadian securities, Canada saw a net outflow of $16.2 billion from its economy in May, marking 'a fourth consecutive month of net outflows, bringing the total to $83.9 billion,' said StatCan.

B.C. Premier David Eby reshuffles cabinet to boost economy and jobs
B.C. Premier David Eby reshuffles cabinet to boost economy and jobs

CTV News

time26 minutes ago

  • CTV News

B.C. Premier David Eby reshuffles cabinet to boost economy and jobs

B.C. Premier David Eby pauses to look at his notes during an announcement at Electronic Arts in Burnaby, B.C., on Monday, July 7, 2025. THE CANADIAN PRESS/Darryl Dyck VICTORIA — British Columbia's cabinet has been reworked in what Premier David Eby says is a strategic shift in order to focus on jobs and the economy. Former housing minister Ravi Kahlon takes over as minister responsible for jobs from Diana Gibson, who moves into the citizens' services role previously held by George Chow. Garry Begg has been ousted as solicitor general and will be replaced by Nina Krieger. Christine Boyle will take over the housing portfolio and her ministry of Indigenous relations and reconciliation goes to Spencer Chandra-Herbert. Eby says the new people stepping up will bring the perspectives and priorities of the next generation to the cabinet table, while experienced ministers are tasked with moving major projects forward and promoting economic prosperity. The premier says his cabinet will work on the province's biggest challenges: growing the economy, seizing investment opportunities and strengthening public services. This report by The Canadian Press was first published July 17, 2025.

N.S. to prioritize using timber in new construction, heating of public buildings
N.S. to prioritize using timber in new construction, heating of public buildings

CTV News

time26 minutes ago

  • CTV News

N.S. to prioritize using timber in new construction, heating of public buildings

Nova Scotia Public Works Minister Fred Tilley makes an announcement about the timber industry in Enfield, N.S., on July 17, 2025. (Jesse Thomas/CTV Atlantic) The Nova Scotia government says it's turning to timber every opportunity it can in the construction and renovation of new public buildings, while also moving to heating public buildings with wood products. The province's Natural Resources Minister Tory Rushton and Public Works Minister Fred Tilley announced the province's new priority to utilize wood products outside the Ledwidge Lumber facility in Enfield, N.S., Thursday morning. 'Now more than ever, we want to use local products for building and heating in Nova Scotia,' said Tilley. 'That's why government is leading by example and using more wood products in our own buildings. 'It's one of many steps our government is taking to make Nova Scotia more self-reliant and energy-secure and to grow our economy and create jobs through innovation in our forestry sector.' The announcement comes on the heels of Northern Pulp's announcement this week that the company, which had long operated a paper mill in Abercrombie, N.S., is leaving the province for good. Northern Pulp was forced to shut down its mill in 2020 after failing to meet environmental guidelines set out by the province regarding its new wastewater treatment facility. The closure and permanent departure leaves a major void in the timber economy, with the absence of a major buyer of low-grade wood, which was a key source of revenue for woodlot owners, sawmill operators and others in the forestry sector. 'This will produce economic benefit for Nova Scotian families while we increase the use of local, sustainable products,' said Rushton. 'Building and heating with wood will produce jobs and reduce our carbon footprint. It's a great way to support our forestry sector and take charge of our low-carbon future.' Currently, 20 public buildings across the province, including schools and hospitals, are using wood-based heating systems and the province says two more are in development. Tilley said the province is updating its design and procurement policies to make wood a preferred choice in future construction and renovation projects, while transitioning oil-based heating systems to wood. For more Nova Scotia news, visit our dedicated provincial page

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store