If you are 50 something and thinking about booking your next holiday, you’ll be pleased to know that you are not alone! The over 50s are spending more on their annual trips overseas than ever before according to a recent study by the Centre of Economic and Business Research (CEBR), splashing out around £2.8 billion on cruises, and a further £39 billion on trips to exotic destinations such as the Silk Road in Uzbekistan.
Unlike the under 50s, who cut their travel budget by 5% last year, the over 50s increased their annual travel budget by a whopping 23% in 2015, and with the average couple allocating £5,000 for each and every holiday they take, the ‘golden generation’ are now responsible for more than half of the UK’s total spending on leisure travel.
In another study by MailJet, it was revealed that the over 55s are getting the best deals on their annual holidays by choosing to travel out of season in the months of May, June and September, but they are spontaneous when it comes to booking their trip, with over 82 per cent of those questioned spending less than a month planning their holiday.
No longer tied to a high street travel agent, most over 50s are now tech savvy and book their holidays online. Just 8 per cent of over 55s admitted to using printed holiday brochures when planning their trip, and two-thirds of respondents said that they would be most likely to book with a travel company that sent them a travel deal or special offer by email.
While European destinations remain popular with the over 50s, far-flung destinations such as Africa, South America, and India are becoming increasingly popular, as are adventure trips in the Andes and the Amazon. Those who want to spend their retirement travelling the world are not afraid to head off the beaten track in search of something a little bit different, and as a result, the over 55s annual spending budget is due to increase year after year!