Older travellers plan to reduce outlay on holidays this year, Silver Travel Advisors annual report suggests. The proportion of over-50s spending more than £3,000 on their holidays has dropped for a second year in a row, according to new research. High spenders make up 30% of the overall market and is down from 40% last year.
The figures come from Silver Travel Advisor’s annual report, which surveyed 1,200 members in autumn 2018. The findings echo the Travel Weekly Insight Annual Report 2018-19, which found the proportion of over-55s likely to spend more on overseas holidays in the year ahead had dropped from 43% to 35%.
City breaks remained the most popular holiday type for the mature market, with 45% saying it was their preferred choice. Beach holidays and UK country‑house hotel breaks also gained in popularity. However, ocean and river cruises decreased in popularity. There were also increases in the popularity of all-inclusive, cultural and luxury holidays, which were all up by three percentage points year-on-year.
Silver Travel Advisor also looked at the trend of older people going on solo holidays – 55% did this because they had nobody else to travel with, while 20% preferred solo travel and 15% did so because they had different interests to their partner.
Other travel trends to look out for in 2019
Responsible tourism goes mainstream
This past year has seen a number of sustainability issues move further into the public’s consciousness – with much greater awareness of the impact of plastics on the environment and tourism’s impact on local communities, according to ABTA Travel Trends Report 2019. The uplift in awareness is also reflected in holidaymakers attitudes to companies – over a third (36%) of people would opt for one travel business over another if they have a better environmental record – up 13% since 2014.
People committed to holidays with Europe the top spot
ABTA Travel Trends 2019 also reveals that, despite the unprecedented political turbulence and uncertainty of the past year, Britons are firmly committed to taking holidays – with forward bookings for Summer 2019 12% up on this time last year.
Europe tops the list of places people plan to travel to in the next 12 months, with 61% planning to take a trip to the continent next year. For example, Bulgaria and Greece are set to perform well with an increase in bookings for Summer 2019 of 30% and 6%, respectively. The desire to get a value-for-money break is a growing priority, due to stretched household budgets and the continued weak Pound. Package holidays are likely to prove a popular choice in the search for good value, after three in five (60%) people said they booked a package this year because it was the best option for the price.
Resurgence of the trusted travel expert
One of the main reasons holidaymakers book with a travel professional is because they feel more confident doing so. In an age of limitless choice and information the service travel professionals provide is highly valued – offering a few well-selected holidays which meet the customer’s specific requirements. Travel companies have announced an increase in stores and cruise companies are using travel agents more – so all in all, it looks like the trusted travel expert has a bright future.
Find out more about Ten Financial Planning here or if you would like to talk to us about planning for your retirement, drop us a line below.