This report examines the travel market for people aged 55 and older; a group currently made up of World War II, Swing and the oldest members of the Baby Boomer generation. Older adults represent a strong potential market for travel suppliers. The growth of vacation travel since 2002, particularly in higher-end travel, points to the ability of older travelers to return to leisure travel. Travelers 55 and older are more likely to have secure financial futures and are less dependent on employment, as many have partially or fully retired. Having raised their children and fulfilled commitments such as mortgages, they can spend more money on travel, and they have the time to do so. Unlike younger travelers, who tend to take shorter trips to conserve both time and money, older adults can plan their travel according to their interests and needs.

This report examines the travel market for people aged 55 and older; a group currently made up of World War II, Swing and the oldest members of the Baby Boomer generation. Older adults represent a strong potential market for travel suppliers. The growth of vacation travel since 2002, particularly in higher-end travel, points to the ability of older travelers to return to leisure travel. Travelers 55 and older are more likely to have secure financial futures and are less dependent on employment, as many have partially or fully retired. Having raised their children and fulfilled commitments such as mortgages, they can spend more money on travel, and they have the time to do so. Unlike younger travelers, who tend to take shorter trips to conserve both time and money, older adults can plan their travel according to their interests and needs.

Despite these positive factors, this age group also provides unique challenges that differentiate them from their younger counterparts. Many older adults are reticent about traveling alone, and seek additional amenities when they do travel. Some women become more interested in travel when widowed, but if they do not have a ready traveling companion, they may limit travel to visiting friends and relatives.

However, this is a group in transition. The Baby Boomers are approaching the 55 and older segment, and compared to their predecessors, Boomers have traveled more, reached higher levels of education and become accustomed to handling their own travel arrangements using the Internet. This experience will lend them a confidence that could encourage them to travel more as they age. They are also likely to seek out intergenerational travel options, bringing grandchildren with them on trips and taking trips of all lengths, by plane and by car.

A number of U.S. consumer intelligence reports covering other related sectors have been published, including the following:

American Lifestyles—U.S., consumer intelligence, December 2004

Casino Gambling—U.S., consumer intelligence, November 2004

Young Adults—U.S., consumer intelligence, November 2004

Hotels—U.S., consumer intelligence, August 2004

Leisure Activities—U.S., consumer intelligence, July 2004

Lotteries—U.S., consumer intelligence, July 2004

Young Adults & Travel—U.S., consumer intelligence, June 2004

Short Breaks—U.S., consumer intelligence, April 2004

Changing Attitudes to Travel—U.S., consumer intelligence, October 2003

Loyalty Programs—U.S., consumer intelligence, July 2003

Theme Parks—U.S., consumer intelligence, May 2003

Inbound Tourism—U.S., consumer intelligence, April 2003

Cruises—U.S., consumer intelligence, January 2003

Lifestyles of Young Adults—U.S., consumer intelligence, December 2002

Lifestyles of Older Adults—U.S., consumer intelligence, October 2002

Post-family Leisure Activities—U.S., consumer intelligence, June 2002

Family Leisure Activities—U.S., consumer intelligence, May 2002

Pre-family Leisure Activities—U.S., consumer intelligence, April 2002