The average expenditure per household on recreational vehicle operation in Canada is forecasted to rise from CAD 232.38 in 2024 to CAD 248.33 in 2028, marking a steady year-on-year growth. The year 2023 saw the value at CAD 228.52, reflecting an upward trajectory in expenses related to recreational vehicles.
Year-on-year variations show an average increase of about 1.71% between 2024 and 2028. Given that the 5-year compound annual growth rate (CAGR) is approximately 1.70%, this suggests a consistent trend over a longer period.
Future trends to watch for include:
- Impact of economic factors such as inflation and income levels on discretionary spending.
- Technological advancements in recreational vehicles that may affect operational costs.
- Shifts in consumer preferences towards sustainable and eco-friendly recreational options.
