BUSINESS

Nearly Half Of Canadians Say Experiences Are More Important Than Money: Survey

05/30/2017 12:46 EDT | Updated 05/30/2017 12:46 EDT

Less than a quarter of Canadians say they would rather have more time than money, but nearly half say that experiences are more important than material wealth, a new survey has found.

Market researcher Gfk asked 22,000 participants in 17 countries to rank their responses based on whether or not they agreed with the statements "I would rather have more time than more money" and "Experiences are more important than possessions."

The results of the survey on materialism showed that worldwide, 44 per cent of people believe experiences are more important, while around three out of ten (31 per cent) would prefer to have more money.

In Canada, women were less materialistic than men. Fifty-six per cent of women, versus 42 per cent of men, said experiences are more important than possessions. Overall, 49 per cent of Canadians agreed with this. And though 23 per cent of Canadians would rather have more time than money, more women (27 per cent) agreed with this statement than men (20 per cent).

adventure Nearly half of Canadians say that experiences are more important than money or possessions. (Photo: Getty Images)

Low income earners are slightly less likely than others to prioritize time over money. Eighteen per cent of them disagreed with the statement "I would rather have more time than money," compared to 20 per cent in that same income bracket who agreed.

Across different age groups, those aged 60 and over were likeliest to prioritize money over time. Only 15 per cent picked time over money.

That age group was less likely to feel experiences are more important — 43 per cent, compared to the average 49 per cent.