CIBC Poll: Canadians spending an average of about $2600 on their March vacations this year

CIBC Poll: Canadians spending an average of about $2600 on their March 
vacations this year 
12 per cent say they are packing up for a family vacation this March; Top 
concerns include becoming ill while travelling, or losing cash/credit cards 
TORONTO, March 7, 2013 /CNW/ - A new CIBC (TSX: CM) (NYSE: CM) Poll conducted 
by Harris/Decima reveals 12 per cent of Canadians are escaping the weather for 
a vacation this March, spending an average of about $2,600 to get away. As 
Canadians look to enjoy their time away, their top travel concerns include 
illness, or losing their debit and credit cards. 
Highlights of the poll include: 


    --  12 per cent of Canadians say they are planning a March
        vacation, with an average cost of $2,665.
    --  Among Canadians travelling for a vacation this March, 41 per
        cent are vacationing in Canada, with 36 per cent travelling to
        the U.S.
    --  Residents of Manitoba and Saskatchewan plan to spend the most
        on average (almost $3,200) and those in Atlantic Canada plan to
        spend the least (about $1,550).
    --  Residents in Alberta (17 per cent) and B.C. (16 per cent) were
        among the most likely to travel this March, with Atlantic
        Canada (4 per cent) and Quebec (8 per cent) among the least
        likely.

"March is a special time of year for Canadians to take a break from school and 
work and enjoy some time with their families," said Cheryl Longo, Executive 
Vice President, Card Products, CIBC. "Finding the time and money for family 
vacations can sometimes be a challenge, and when Canadians do get away they 
want to enjoy the experience and know they planned well, budgeted well, and 
are protected in the event of the unexpected."

Illness, Losing Cash and Credit Cards Top the List of Travel Worries this March

When asked what they worry about when travelling, Canadians said getting sick 
or injured while on vacation (36 per cent), losing their money or credit cards 
(18 per cent), and overspending while they are away (12 per cent) were their 
top three travel concerns.

"Everyone wants their family getaway to be fun and relaxing, and knowing that 
you are protected against some common travel concerns can give you peace of 
mind before you leave," said Ms. Longo. "Your credit card may have a number of 
helpful benefits available to you when you travel, and understanding these 
features can save you time, money, and protect you in the event of the 
unexpected while you are away."

To make the most of your March vacation plans, CIBC offers the following tips:
    --  Make sure you understand the travel protection you may already
        have: Many CIBC credit cards offer insurance to protect you and
        your family, such as travel medical, trip cancellation, trip
        interruption, flight delay, lost baggage, car rental
        collision/damage. Be sure you understand what you're covered
        for and how to access it if you should need it when you are
        away. If you do not have travel medical insurance on your
        credit card, you may wish to purchase it to protect you and
        your family.
    --  Contact your credit card company to alert them that you are
        travelling: To protect clients from fraud, unusual transactions
        are flagged and CIBC may contact you to confirm certain
        transactions as a security measure. Advance notice about your
        travel plans can help ensure you have uninterrupted access to
        your card while you are away.
    --  Keep your cash and cards secure, and have a back up form of
        payment: Carrying a back up payment card or cash can help if
        you lose your primary method of payment. Be sure to keep them
        separate and in secure locations, and have important phone
        numbers written down separately in the event you lose a credit
        or debit card. CIBC's credit and debit cards can be used when
        you travel internationally. With the CIBC Advantage Debit Card
        you can shop at stores in the U.S. and internationally where
        Visa is accepted as well as online, over the phone or by mail
        at
        participating retailers
        that accept Visa Debit.
    --  Help manage or track your vacation spending through free
        budgeting and tracking tools: For example, with the free CIBC
        CreditSmart tool you can set and track your spending by
        category, set spending limits, and set up Alerts that remind
        you when you get close to your limits.

Access benefits you have on your credit cards to stretch your vacation budget 
further: For example, your credit card may have features such as discounts on 
travel-related items such as car rentals.

KEY POLL FINDINGS

Percentage of Canadians who are travelling on vacation for March/Spring Break, 
by region:

National                     12%

Atlantic Canada               4%

Quebec                        8%

Ontario                      13%

Manitoba and Saskatchewan    11%

Alberta                      17%

British Columbia             16%

Average amount Canadians who are travelling say they will spend in total on 
their vacations, by region:

National                      $2665

Atlantic Canada               $1554

Quebec                        $1938

Ontario                       $2931

Manitoba and Saskatchewan     $3178

Alberta                       $2857

British Columbia              $2490

Canadians' top concern when travelling:

Someone gets sick or injured on our vacation                  36%

We lose our money or credit cards                             18%

We overspend on our vacation                                  12%

Our flight is delayed or cancelled because of bad weather     11%

Our luggage is lost                                            6%

Our travel plans need to be cancelled before our vacation      6%

Our travel plans get interrupted during our vacation           4%

*Each week, Harris/Decima interviews just over 1000 Canadians through teleVox, 
the company's national telephone omnibus survey. These data were gathered in a 
sample of 1000 Canadians between February 21 - 24, 2013. A sample ofthis 
size has a margin of error of +/-3.1%, 19 times out of 20.

CIBC is a leading North American financial institution with nearly 11 million 
personal banking and business clients. CIBC offers a full range of products 
and services through its comprehensive electronic banking network, branches 
and offices across Canada, and has offices in the United States and around the 
world. You can find other news releases and information about CIBC in our 
Press Centre on our corporate website at www.cibc.com.



Kevin Dove, Head of External Communications, CIBC, 416-980-8835, 
Kevin.dove@cibc.ca

SOURCE: CIBC

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CO: Canadian Imperial Bank of Commerce
ST: Ontario
NI: FIN ECOSURV 

-0- Mar/07/2013 11:00 GMT


 
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