Pandemic cash hoard: Here’s how Canadians are spending theirs

Canadians have amassed substantial nest eggs during the coronavirus pandemic, and are gearing up to spend their savings on pools and bucket-list vacations, signalling that the economy could revive faster than expected.

Canadians have hoarded a massive cash pile during the COVID-19 pandemic and they are itching to spend on summer rentals, exotic vacations and back-yard pools, a sign the economy could bounce back faster than expected. The country’s vaccine campaign is ramping up, with Prime Minister Justin Trudeau promising to inoculate everyone willing by the end of September. The snow is melting, and Canadians are making plans again. Back-yard renovation demand is so high, contractors say they cannot source in-ground pools, and there is a shortage of cedar for decks. Domestic travel deals for the summer months are being snapped up, and some are queueing up “bucket list” trips for later this year. Sales of pleasure vehicles are surging.