COVID-19 Increasingly Impacting Canadians’ Behaviours and Financial Outlook

0

VANCOUVER — The magnitude of the COVID-19 outbreak and its impact on daily life has left many Canadians reeling.

Based on recent data from the Angus Reid Institute, Canadians are increasingly concerned about how the evolving COVID-19 pandemic will impact their lives beyond personal health.

The latest survey, conducted from March 13 to 15, shows a dramatic increase in personal financial anxiety, with 65-per-cent of Canadians indicating they are concerned COVID-19 will hurt their personal financial situation — up from 44 per cent on March 5 to 6. Concerns that the Canadian economy will be negatively impacted have also grown, up from 66 per cent on March 5 to 6 to 86 per cent on March 13 to 15.

Already, data indicates that 10 per cent of Canadians had been laid off or lost hours due to COVID-19 measures — a number likely on the rise as the situation continues to rapidly evolve and increasing measures have been put in place by federal and provincial governments.

Everyday behaviours of Canadians are also shifting, with 48 per cent of people staying away from public spaces — a jump from 17 per cent in early March.

The poll also found that 26 per cent of Canadians have cancelled travel plans. When asked whether they would cancel a planned trip in the next six months (even if already paid for), 67 per cent said they would abandon such travel plans. This is up from 28 per cent on March 5 to 6.

And, many Canadians don’t anticipate things returning to “normal” quickly. Angus Reid’s data indicates 38 per cent of Canadians believe it will take three to six months to get back to normal and 25-per-cent anticipates six months to a year, while 26 per cent believes it will be a month or two.

This site uses Akismet to reduce spam. Learn how your comment data is processed.