Happy New Year? Canadians Cautiously Optimistic About 2023

Toronto, ON, January 1, 2023 – The beginning of January is a time of new beginnings and forward thinking for many. A recent Ipsos poll conducted on behalf of Global News finds that, in reflecting on what the new year will bring, most Canadians say they feel optimistic about the year as a whole, though there is evidence that this optimism is muted. Further, there are a few key areas where Canadians are divided as to how they foresee the next 12 months.

Although they have been among those hit hardest by the last year’s skyrocketing inflation and cost of living, consistent with previous research, younger Canadians express the most optimism and the greatest likelihood to set resolutions for the upcoming year, presenting a silver lining to a perhaps uncertain future.

Though 61% of Canadians are Optimistic About 2023, 51% Are Only “Somewhat” Optimistic

When asked to gauge their level of optimism about a number of different aspects related to the upcoming year, Canadians are generally more optimistic about their personal situations, but less so about larger-scale issues that have shaped much of 2022. Six in ten (61%) say they are optimistic about 2023, though this is largely driven by the large portion of those who say they are “somewhat” optimistic (51%) rather than those who are “very” optimistic (10%). Similarly, while 60% say they are optimistic that their financial situation will improve, most are only “somewhat” optimistic (48%, 12% very optimistic). Given the economic struggles of the last year, it is unsurprising that Canadians are somewhat withholding positivity, especially in consideration of the fact that just 33% say they are optimistic (28% somewhat/6% very) that inflation will be brought down to its target of 2% in 2023.

Canadians are mixed in their perceptions that society will advance on a number of important social and environmental issues. On one hand, six in ten (60%) are optimistic that we will make meaningful progress towards reconciliation with Indigenous communities (52% somewhat/7% very). On the other, 45% are optimistic we will make meaningful progress on fighting climate change (38% somewhat/7% very).

Those 18-34 are significantly more likely to express optimism about nearly all of these topics, in particular making progress on fighting climate change (56% vs. 39% 35-54 and 42% 55+), the war in Ukraine ending (57% vs. 42% 35-54 and 38% 55+), and inflation being brought down (49% vs. 27% 35-54 and 28% 55+). By contrast, those in the middle age group are most likely to express pessimism for 2023 (51% somewhat/very pessimistic vs. 35% 55+ and 30% 18-34).

Canadians Plan to Make New Year’s Resolutions on Physical Health (41%), Finances (32%) for 2023

Setting intentions for the year ahead, Canadians are hoping to make resolutions to improve their lives in the following areas:

• Their physical health (41%)
• Their finances (32%)
• Their mental health (28%)
• Their family life (27%)
• Learning a new skill/hobby (24%)
• Their work/career/education (22%)

Those 18-34 are significantly more likely to say they will be setting a resolution on all of these topics compared to older age groups, while those 55+ are significantly more likely to say they will not be setting resolutions. In addition, those with children in their household are also more likely to say they will be setting resolutions on all of these topics compared to those without (for example, 49% of parents say they will make a resolution on their physical health as opposed to 39% of those without children).

With one-third of Canadians saying they will be making resolutions around their finances, and muted optimism for the next year likely driven by economic uncertainty, Canadians are also reporting taking actions in this year to save money, largely centered around day-to-day costs. Canadians are most likely to say they are purchasing less expensive food (42%), shopping at cheaper grocery stores (37%), shopping at stores that offer discounts or coupons (35%), and cutting back on holiday spending overall (33%). In addition, one-quarter (25%) say they are postponing or cancelling vacations (25%) and putting less money into savings (20%). Just under one in ten (7%) say they are accessing food banks – which worryingly translates to over two million Canadians across the country. Around one-quarter (23%) say they are not engaging in any actions to save money, a sign that some may have been able to adequately weather the economic storm 2022 has presented many.

Which of the following, if any, are you doing to save money this year?

While these actions are relatively consistent across age and gender, those in different regions in Canada have adjusted their behaviour in different ways. Those in Atlantic Canada are more likely to say they have:

• Put off starting a family or growing their family (12% vs. 8% SK/MB, 4% BC, 4% QC, 2% ON, 1% AB)
• Accessed a food bank (18% vs. 10% AB, 8% SK/MB, 6% ON, 6% QC, 6% BC)
• Moved somewhere cheaper (13% vs. 9% SK/MB, 5% ON, 4% AB, 4% BC, 2% QC)
• Participated in a “Buy Nothing” day (18% vs. 13% AB, 11% BC, 7% SK/NB, 7% ON, 4% QC)

Albertans are more likely than those in other regions to say they have purchased less expensive food (55% vs. 45% ATL, 44% SK/MB, 44% ON, 36% QC, 35% BC), shopped at places that offered discounts or coupons (52% vs. 37% SK/MB, 36% ATL, 34% ON, 32% BC, 29% QC), and are just as likely as those in Atlantic Canada to say they’ve cut back on holiday spending this year (42% AB, 43% ATL, 39% SK/MB, 34% ON, 28% QC, 25% BC). Parents are also significantly more likely to say they have shopped at cheaper grocery stores (47%) compared to those without children (34%), who are, conversely, more likely to say they have not done any of these (26% those without children vs. 12% those with children).

About the Study

These are some of the findings of an Ipsos poll conducted between December 14 and 16, 2022, on behalf of Global News. For this survey, a sample of 1,004 Canadians aged 18+ was interviewed. Quotas and weighting were employed to ensure that the sample’s composition reflects that of the Canadian population according to census parameters. The precision of Ipsos online polls is measured using a credibility interval. In this case, the poll is accurate to within ± 3.5 percentage points, 19 times out of 20, had all Canadians aged 18+ 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:

Sean Simpson
Senior Vice President, Ipsos Public Affairs
+1 416 324 2002
[email protected]

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