People, Travel

British Seniors Are Avid Spenders

British Seniors Are Avid SpendersBritish Seniors Are Avid Spenders

More than half of older travelers would spend more than £3,000 ($4,600) on a holiday, including 20% who would spend upwards of £5,000 ($7,700), new research reveals.

Over three quarters (80%) spend £1,000 ($1,500), according to the analysis of the travel habits of the over-50s by travel review and advice site Silver Travel Advisor.

Around 60% research and select their holidays online, with most saying they would be influenced by online reviews, although a third still prefer to book their holiday over the phone or with a travel agent, according to company managing director, Debbie Marshall.

The study found that 62% use the Internet, 50% look for special offers, 60% book online, 23% book by phone and 13% visit an agent, Travel Weekly UK reported.

As for destinations, more than 50% aspire to see the Northern Lights, around 30% would opt for a round-the-world cruise, 20% would choose a weekend in Venice and 27% would explore the Scottish Highlands.

Almost half of the 500 mature travelers surveyed chose city breaks as their favorite type of holiday, a third selected beach holidays and around a quarter cited ocean cruise holidays.

Breaking down how the overs-50s travel, 77% holiday with a partner, 13% go solo, 35% would consider traveling alone but do not and 10% go with family or wider group

Marshall said: “Mature travelers are going further and more often; over 80% of the nation’s wealth is at the disposal of the over 50s and it’s clear from the survey that they want to spend, spend, spend on cruising, travel and holidays.”

But Marshall believes travel companies need to better understand the needs and desires of older travelers.

“The over-50s want memories and experiences, whether it’s yoga, art, river cruises, or even romance. Yes, some 1.3 million people in their over-50s are looking for a new partner,” she said.

“They are also loyal, not just to the same brand but they often like to have the same room and the same cabin. Above all, they want consistency.”