Toronto, ON – Canadians are forecasting an across-the-board improvement in 2017, despite anticipating spending more of their money on life essentials and cutting back on entertainment and leisure, according to a new Ipsos poll conducted on behalf of Global News.
Looking ahead to 2017:
- Nine in ten (90%) expect 2017 to be good (33% very/57% somewhat) for their family, compared to 80% who said 2016 was good to their family.
- Most (85%) working Canadians expect 2017 to be good (28% very/57% somewhat) for their job and career, compared to 75% who said that 2016 was good for their career.
- Three quarters (75%) expect 2017 to be good (18% very/57% somewhat) for their personal financial situation, while only 60% gave 2016 a positive assessment in this regard. Those aged 18-34 (79%) are more optimistic than those aged 35-54 (73%) or 55+ (73%).
- Two in three (65%) expect 2017 to be good (13% very/52% somewhat) for their retirement plan/savings, but only 52% said 2016 was good for their savings. Millennials (67%) and Boomers (66%) are more optimistic than Gen X’ers (61%).
- Six in ten (58%) expect 2017 to be good (9% very/49% somewhat) for the Canadian economy, an improvement from the 44% who said that 2016 was good to the economy. Those in British Columbia (63%) and Atlantic Canada (63%) are more optimistic for the economy in 2017 than those living in Ontario (60%), Quebec (57%), Saskatchewan and Manitoba (50%) and Alberta (48%). Millennials (65%) are also considerably more optimistic than Gen X’ers (58%), and Boomers (52%).
On balance, Canadians believe they’ll be spending more on most categories in 2017 compared to 2016. The chart below shows the proportion of Canadians who believe they will spend more, about the same, or less on each category of their budget in 2017, as well as the “net score” which subtracts the “less” from the “more” to understand the overall trend.
Looking at who will be spending more on various categories, Albertans are most likely to anticipate spending more on food this year (37% of Albertans vs. 31% of all Canadians), Quebecers will spend more on leisure this year (22% vs. 16% of all Canadians), Albertans will spend more on savings this year (36% vs. 28% of all Canadians) and Ontarians will spend more on housing and utilities this year (38% vs. 32% of all Canadians).
Millennials will spend more on vacation this year (30% vs. 23% of all Canadians), entertainment (25% vs. 16% of all Canadians), savings (46% vs. 28% of all Canadians), paying down debts, (38% vs. 29% of all Canadians), and clothing/life essentials (27% vs. 20% of all Canadians).
Looking at who will be spending less on various categories this year, British Columbians and Albertans are most inclined to spend less on vacation (28% vs. 24% of all Canadians) and clothing/life essentials (21% vs. 15% of all Canadians) this year, Albertans will spend less on entertainment and leisure this year (28% vs. 20% of all Canadians), and British Columbians anticipate spending less on transportation and gas this year (18% vs. 11% of all Canadians).
Boomers are more likely to spend less on vacation this year (28% vs. 24% of all Canadians), more women than men will spend less on leisure and entertainment this year (25% women vs. 15% men) and clothing/life essentials (20% women vs. 9% men), while Boomers will save less for the future this year (28% vs. 18% of all Canadians).
These are some of the findings of an Ipsos poll conducted between December 15 and 21, 2016, on behalf of Global News. For this survey, a sample of 3,004 Canadians from Ipsos' online panel was interviewed online. Weighting was then employed to balance demographics to ensure that the sample's composition reflects that of the adult population according to Census data and to provide results intended to approximate the sample universe. The precision of Ipsos online polls is measured using a credibility interval. In this case, the poll is accurate to within ± 2.0 percentage points, 19 times out of 20, had all Canadian adults been polled. The credibility interval will be wider among subsets of the population. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.
For more information on this news release, please contact:
Darrell Bricker, PhD
Ipsos Public Affairs
Ipsos ranks third in the global research industry. With a strong presence in 87 countries, Ipsos employs more than 16,000 people and has the ability to conduct research programs in more than 100 countries. Founded in France in 1975, Ipsos is controlled and managed by research professionals. They have built a solid Group around a multi-specialist positioning—Media and advertising research; Marketing research; Client and employee relationship management; Opinion & social research; Mobile, Online, Offline data collection and delivery. Ipsos has been listed on the Paris Stock Exchange since 1999.