Canadians turned their back on travel to the United States in 2025 and that trend looks likely to continue in 2026, which is good news for the

Canadian economy

.

About three-quarters of Canadians said it’s less likely they will travel to the U.S. in 2026 due to concerns about political and trade tensions and poor exchange rates, according to a new survey by Blue Cross of Canada. That’s a sharp increase from an earlier poll taken after

Donald Trump

was elected president, when 47 per cent indicated the same thing.

A dislike of U.S. politics topped the list of Canadians’ concerns at 50 per cent, followed by weak trade and the weak

Canadian dollar

, but people had other reasons for avoiding the U.S., including worries about border-crossing troubles, fear of crime and “negative feelings” toward our southern neighbour.

Among the different demographics, “boomers are especially hesitant, with 54 per cent cancelling all U.S. travel plans in 2026,” an increase from 12 per cent last year, Blue Cross said in a release.

But the U.S.’s loss is apparently Canada’s gain.

Of those who said they will avoid the U.S., 95 per cent still plan to travel, with Canadian destinations being the top substitute for nearly seven in 10 of them, the travel insurer said.

There were also provincial and regional differences, with people in the Eastern provinces most likely to cut travel plans to the U.S. and stick within Canada, while a third of Albertans said they planned to travel south of the border, the highest percentage among Canadians. Saskatchewan residents were the least likely to do so, the survey said.

Other surveys have also said Canadians are opting to travel at home and stay away from the U.S. after Trump unleashed his

tariff plans

earlier this year.

For example, Statistics Canada said

domestic trips by Canadians

rose 10.9 per cent year over year in the second quarter, while visits to the U.S. fell 21.5 per cent during the same period.

The agency also said travel plan reroutings have been a boon to the

Canadian economy

, with spending on domestic tourism up 13.5 per cent.

David Rosenberg

, founder of Rosenberg Research & Associates Inc., said the trend in domestic travel was running 250 basis points faster than the overall rate of

gross domestic product

(GDP).

So far this year, he estimated that the loss of nearly 850,000 trips by Canadians to the U.S. has translated into a three per cent year-over-year boost to the Canadian hospitality, domestic leisure and airline sectors.

Travel services have “swung” from a $51-million deficit three years ago to a $928-million surplus at the end of the summer, Rosenberg said, adding that while travel, tourism and hospitality account for five per cent of GDP, they represent about 20 per cent of the “employment pie.”

He said Canada’s strong domestic travel season hasn’t been a game-changer in terms of economic performance, but it has “turned the dial” on improving economic growth.

“Instead of reviling President Trump, Canadians would do well to just say, ‘Thank you, sir!’ he said in a note.

Blue Cross’s survey of about 2,000 Canadians who travelled in the past 12 months or planned to travel in the next 12 was conducted by Research + Knowledge = Insight. The survey has a margin of error of plus or minus two per cent 19 times out of 20.

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Toronto-Dominion Bank, Bank of Montreal and the Canadian Imperial Bank of Commerce comfortably beat analysts’ fourth-quarter earnings expectations on Thursday despite the economic uncertainty.

Their profits were largely driven by business segments such as capital markets, which help large companies raise funds and deal with activities such as trading, as well as wealth management, which is a financial service for people with significant assets.

All six of Canada’s biggest banks reported their results for the three months ending Oct. 31 this week. Their earnings help provide insights into how the economy is performing, as do their provisions for credit losses (PCLs), the amount of money they keep aside to tackle loans that may potentially go bad. —

Naimul Karim, Financial Post

Read the full story here.

  • Prime Minister Mark Carney, U.S. President Donald Trump and Mexican President Claudia Sheinbaum meet in Washington for the final draw for the 2026 FIFA World Cup. The three countries are hosting the event this summer.
  • Today’s data: Statistics Canada releases jobs numbers for November; the U.S. releases data for September on personal income and spending, the core personal consumer expenditure price index and the University of Michigan consumer sentiment index
  • Today’s earnings: Laurentian Bank of Canada, Victoria’s Secret & Co.

 


  • Equitable Bank parent EQB to buy PC Financial from Loblaw
  • Aritzia founder calls for Ottawa to scrap duty-free imports to help Canadian retailers compete at home
  • What are ‘Trump accounts’ and could the idea help Canadian families invest and build wealth?

‘This is the new slavery’: Temporary farm workers underpaid, abused and injured

Broken bones, rashes from pesticide exposure, unpaid labour, substandard housing. That’s the cost often paid by the tens of thousands of migrants who come to Canada as temporary agricultural workers. Read the investigation

The 2025 tax season doesn’t begin until late February 2026, but by the time that date rolls around, it’s too late to do any significant tax planning. That’s why December is key for taxpayers looking for a few final ways to save tax in 2025. Here are some things to think about over the remaining days of the year. Keep reading Jamie Golombek to find out

more

.

Are you worried about having enough for retirement? Do you need to adjust your portfolio? Are you starting out or making a change and wondering how to build wealth? Are you trying to make ends meet? Drop us a line at

wealth@postmedia.com

with your contact info and the gist of your problem and we’ll find some experts to help you out while writing a Family Finance story about it (we’ll keep your name out of it, of course).

McLister on mortgages

Want to learn more about mortgages? Mortgage strategist Robert McLister’s

Financial Post column

can help navigate the complex sector, from the latest trends to financing opportunities you won’t want to miss. Plus, check out his

mortgage rate page

for Canada’s lowest national mortgage rates, updated daily.

Financial Post on YouTube

Visit the Financial Post’s

YouTube channel

for interviews with Canada’s leading experts in business, economics, housing, the energy sector and more.

Today’s Posthaste was written by Gigi Suhanic, with additional reporting from Financial Post staff, Canadian Press and Bloomberg.

Have a story idea, pitch, embargoed report or a suggestion for this newsletter? Email us at

posthaste@postmedia.com

.

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  • Posthaste: Canadians say hands off our resources, putting sovereignty before foreign dollars

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