Homeownership, or Travels: Canadian Generations Are Shaping Different Life Milestones and Financial Goals

Business Wire

29-05-2025

MONTREAL--(BUSINESS WIRE)--With economic uncertainty reshaping financial priorities, Canadians are increasingly finding themselves at a crossroads when having to prioritize big spending decisions. In a recent survey fielded in March 2025 by Arlington Research and polling 1,500 adults living in Canada who had flown at least once in the past two years, FlightHub took a deep dive into Canadians' sentiments surrounding travel and how it compares to other life milestones, such as homeownership and career, to see if the needle was moving as to what was seen as a luxury – or a necessary – activity.
Canadians (also) define success through experiences – and travel is key
The white picket-fence dream does not seem to be a one-size-fits all dream: in a close tie with the traditional focus on homeownership, travel is now seen as a significant milestone. According to the survey, 60 per cent of respondents view travel as an important life achievement, slightly surpassing homeownership (58%), earning a high income (44%), having children (41%) and career advancement (38%).
While 54 per cent of respondents own a home, 30 per cent are saving to buy one and 14 per cent have no plans for homeownership. However, 61 per cent of respondents agree that if real estate were more affordable, they would prioritize homeownership over travel.
'Canadians' view of success now also integrates different experience-based milestones. While other work or home-related goals are still strong symbols of achievement, the survey highlights that many are finding success in life's experiences, particularly in travel,' says Henri Chelhot, CEO of FlightHub. 'Travel is no longer just about leisure – it's a powerful tool for personal growth, exploration and creating memories.'
A mix of material and experience-based financial priorities for Canadians in 2025
How do both those experiential and material success milestones materialize when it comes to financial planning and budget choices? The survey found that Canadians prioritize saving for retirement first (70%), followed by buying at home (66%), paying off their debts (62%), travelling (58%), and buying a car (32%).
However, when asked about budget management to respond to economic uncertainty and inflation, it appears Canadians are quite protective of their travel money, which came in fourth position of expenses Canadians say they would cut to make ends meet (41% ranked it as one of the top 3 choices, and only 18% as their top budget cut). Before cutting down on travel spends, respondents indicated that would first reduce restaurants (62%), entertainment (58%) and gift-giving (46%). In fact, travel comes in as the last experience-based expense people would trade-off for food on the table, or other utilities (clothing, 33%, transportation, 10%, groceries, 8%, utilities, 6%).
Additionally, 62 per cent of respondents indicated they would gladly reallocate funds from material purchases such as clothing, electronics, or furniture to fund a trip.
Travel: a necessity for one-third of Canadians; material purchases prioritized for Gen Z Canadians
The survey also underscores the growing importance of travel in Canadians' lifestyles. For 32 per cent of respondents, travel is seen as a necessity – an essential part of their routine and something they could not live without. Another 46 per cent describe travel as a luxury, while 22 per cent identify it as a 'nice-to-have' but not crucial.
In fact, 67 per cent of respondents overall consider travel an investment in personal growth – a figure that rises significantly among those who view travel as essential (88%).
The survey also highlights clear generational differences in attitudes towards travel. Millennials, Gen X and Boomers were more likely to view travel as a necessity and a factor of success and personal growth, therefore prioritizing it over material goods. These groups also have a higher annual average income and are more likely to own a home. On the other hand, Gen Z, with an income under $100,000, still paying off debt, renting and saving to buy a home, are more likely to see travel as a luxury, but also more largely agreeing they would prioritize real estate over travel if it was more affordable. They tend to balance or prioritize material purchases.
'Through generational realities and financial means, it is interesting to notice a strong appetite for investing in experiences despite economic uncertainties,' concluded Chelhot. 'Travel being prioritized over daily and more easily accessible entertainment spendings, such as restaurants, points to the financial commitment to mobility and adventure as a fuel for personal growth in other ways than the more traditional routes. As Canadians want to explore outside their homes, the survey is also a good reminder to work collectively within the industry to provide accessible and affordable travel options for all budgets, and notably younger generations.'
About the Survey
The survey, conducted by Arlington research team, was in field from March 12-17, 2025, and engaged a sample of 1,500 Canadians who have flown for business or leisure in the past two years. For comparison purposes only, a survey of this size would have a margin of error of +/- 3% at a confidence level of 95%.
About FlightHub
FlightHub™, a Momentum Ventures subsidiary, is a leading North American online travel agency (OTA) based in Montreal, Canada. FlightHub proudly serves millions every year, enabling more people to visit new places and explore new cultures. FlightHub's goal is to offer travellers the most affordable flights, optimal itineraries, and exceptional customer service. The leading online travel agency (OTA) believes that broadening travel possibilities and connecting people across borders increases human consciousness, reduces fear, and inspires positive change. Founded in 2012, FlightHub has facilitated more than 30 million connections.