Seniors Set to Flood Travel Market by 2025
Nowadays, the typical traveler is a 20- or 30-something-year-old visiting different locations, meeting locals, getting to know different cultures. However, that’s about to change quite soon as we can expect the rise of travelers who are 65 years or older.
The International Travel Insights report by Visa published in June 2016 estimates 80% increase in travel by Australians who are 65 years or older, by 2025. On a global level, one in eight international trips will be taken by individuals in retirement who are seeking to travel more extensively. This will be possible due to their better physical health and financial status comparing to previous generations.
The report states we’re about to witness the expanding traveling class, the term used to refer to people who spend a majority of their income on international travel. The travel class will be largely made up of older adults who spent most of their time working hard to secure their retirement.