Advertising feature
The Australian Bureau of Statistics data shows the number of people aged 65 to 74 holidaying overseas jumped more than 80 per cent in the past five years.
Seniors have the time to travel and many have high purchasing power.
Over 50 percent of baby boomers have or expect a sizeable inheritance and travel is the number one item upon which those inheriting say they will spend their money.
Others can downsize from their family home that has risen dramatically in value to get some cash flow. Seniors have also saved for years, now they want to live the good life. But they don’t want to waste money so they keep an eye out for specials and package tours.
This advertising feature is sponsored by the following business:
- Toothkind Jimboomba
Made popular by the movie The Bucket List, starring Jack Nicholson and Morgan Freeman in 2007, bucket list travel is emerging.
“Every day, travel agencies find seniors coming in, wanting to do something that is on their bucket list,” a spokesperson said.
“Research indicates that travel is at the top of the list for seniors. As a result, new travel options are emerging, as this group of consumers looks for something a little different from the status quo.”
Senior categories
The three senior categories have different travel needs.
Young seniors are people born between the years 1946-1960. Although many of these people are not yet retired, most will soon be. Many have now paid off their mortgage and see their children as self-sufficient.
The middle senior market is generally considered for people who were born between the years 1930-1946 - they travel to see their families and have higher medical costs. The old seniors are those people born before 1930. They are less likely to travel, and when they do they seek security and personalised service.
Travel options
- Genealogical tourism - visiting places where their parents grew up
- Multi-generational travel - tours for grandparents who want to spend time with their grandchildren to create memories
- Occasions - this can include weddings, anniversaries, etc
- Mystery tours - out of the ordinary experiences
- Educational tours – e.g. learning about history, food, art and music of various countries
- River and canal cruising
- Train tours
- Sell everything - be grey nomads
“Grandparents opt for ambience like beautiful landscape views of water and mountains,” the spokesperson said. “Comfort is more important than money for the older generation.
“On the downside, seniors tend to show higher levels of frustration such as lack of patience, refusal to read small print and almost zero tolerance for poor service so travel service providers need to be ready.”
Sources: seniorlivingmag.com/travel and tourismandmore.com.
