People over the age of 55 are more eager to travel than ever. Their importance to the tourism sector is only increasing due to the ageing population and their growing prosperity. ABN AMRO expects the holiday spending of this group of holidaymakers to increase by almost half, from 7.17 billion euros in 2022 to 10.68 billion euros in 2027. This is the conclusion of the bank in the report ‘Ripe for adventure’, in which it has mapped out the holiday spending of people over 55. This takes into account, among other things, the ageing population, the price level of holidays until 2022 and the development of wages and pensions. Based on this, ABN AMRO expects total holiday spending by the over-65s to rise by 810 million euros to 5.07 billion euros by 2027. But the holiday spending of the group of 55-64 year-olds – previously called ‘the lost generation’ – is also on the rise. ABN AMRO expects to spend 2.7 billion euros more on holidays in the coming years. In 2027, holiday spending by 55-64 year-olds will amount to 5.61 billion euros. People over the age of 55 account for 41 percent of all tourist overnight stays in European hotels, holiday parks and star-rated campsites. Tourists aged 65 and over are responsible for almost a quarter of tourist overnight stays. The importance of these groups will increase for the travel industry in the coming years due to their capital growth and aging population. As a result, seniors are more likely to have opportunities to travel further, choose more luxurious accommodations and seek special experiences. This leads to the emergence of new travel trends among older generations, such as active holidays or culinary trips. For example, the popularity of cycling holidays is increasing considerably. ABN AMRO expects spending on these holidays to pass the one billion euro mark for the first time this year; More than half of this is accounted for by over-55s. People over the age of 55 are more traveling, active and adventurous than ever before. “The tourism sector can respond to this with an offer that meets the needs of these elderly people, for example by responding to the popularity of cycling holidays,” says Stef Driessen, Sector Banker Leisure at ABN AMRO. “Hotels and holiday parks can underline their location along cycle routes and create guarded bicycle parking facilities intended for electric bicycles. For tour operators, the popularity of multigenerational travel is good news. This type of trip is usually booked well in advance, which means fewer risks for travel providers. In addition, people over 55 and 65 are not bound to school holidays, so they can also book holidays outside the high season. For example, the pre-season is more popular with them than the high season. In addition, no less than 12 percent of the total holiday spending of over-55s relates to the autumn holidays. (Photo Shutterstock).
