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Baby Boomers Travel - UK - July 2015

"Baby Boomers have lived through all of the key changes that have taken place within the travel industry over the past few decades, through the early years and development of the package holiday industry, the birth of backpacking, the emergence of low cost air travel, online booking and the growth of independent travel, mobile technology, the staycation and so on. As a generation they have acquired an unprecedented wealth of travel experience, and the size and relative affluence of this demographic is widely seen as a big opportunity by travel brands."
- John Worthington, Senior Analyst

This report discusses the following key topics:

  • Targeting Boomers requires a segmented approach
  • How can travel brands engage with the health and well-being concerns of Boomers?

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Table of contents

  1. Overview

    • What you need to know
      • Scope of the report
      • Executive Summary

        • High travel potential of Boomers
          • Figure 1: Trends in 4+ night holidays abroad taken in the past 12 months, by generational group, June 2015
        • Value-seekers
          • Figure 2: Average amount willing to spend on holidays, Baby Boomers vs all travellers, June 2015
        • From backpacking to flashpacking
          • Figure 3: Most important holiday factors among Baby Boomers, June 2015
        • Tech-escapers and connectors
          • Figure 4: Baby Boomers Technology Escapers vs Connectors, June 2015
        • Boomers likely to remain keen travellers in old age
          • The four key Boomer travel styles
              • Figure 5: Baby Boomers travel cluster groups, June 2015
          • Issues and Insights

            • Targeting Boomers requires a segmented approach
              • The facts
                • The implications
                  • How can travel brands engage with the health and well-being concerns of Boomers?
                    • The facts
                      • The implications
                      • The Market – What You Need to Know

                        • Travel is a high priority for Boomers
                          • Boomers can help spread the ‘tourism jam’
                            • Retirement opens doors to travel
                              • Last hurrah
                                • Impact of pension reforms
                                  • Live long and prosper?
                                    • Is there an over-50s market?
                                    • The Baby Boomer

                                      • Scope of the Boomer travel market
                                        • Figure 6: Composition of UK population by generational group, December 2014
                                      • Retirement beckons
                                        • Boomers own a large slice of UK wealth
                                          • Figure 7: Household wealth* distribution by age group of individual, 2014
                                        • But not all are well off
                                          • Figure 8: UK wealth groups, 2014
                                        • Travel is a high spend priority…
                                          • Figure 9: Main financial priorities, by generational group, June 2015
                                        • …but risk of ‘Boomer-rang’ generation
                                          • Pension reforms to trigger travel bonanza?
                                            • Figure 10: Spending intentions of those who plan to withdraw a cash lump sum from their pension on retirement, June 2015
                                          • The new ‘retirement journey’
                                            • Silver separators
                                                • Figure 11: People living alone in the UK, by age group, 2004-14
                                              • Lifespans lengthening…
                                                • Figure 12: Life expectancy at age 65, England and Wales, 2007-09 to 2011-13
                                              • …but health risks could impair lifespan or quality of life for some
                                                • Figure 13: Body Mass Index (BMI) categories, UK male adults by age group*, 2013
                                                • Figure 14: Body Mass Index (BMI) categories, UK female adults by age group*, 2013
                                                • Figure 15: Health self-assessment, by generational group, June 2015
                                              • Couch potato Boomers
                                                • Figure 16: Activity levels self-assessment, by generational group, June 2015
                                              • Mental stimulation is a key theme for this generation
                                                • Figure 17: Leisure time preferences, by generational group, June 2015
                                                • Figure 18: Skill/hobby learning, by generational group, June 2015
                                              • Health and well-being opportunities for travel brands
                                                • Pitfalls of the ‘over-50s market’
                                                  • Figure 19: Agreement with selected statements regarding marketing and advertising, Baby Boomers vs all adults, December 2014
                                              • Travel

                                                • Jan-April 2015 period sees overseas hols take off…
                                                  • Figure 20: Overseas holiday market volume, value and average spend, 2009-14
                                                • …but staycation is under threat
                                                  • Figure 21: Domestic holiday market volume, value and average spend, 2009-14
                                                • Overseas travellers over 65 are least affected by economic cycles
                                                    • Figure 22: Overseas holidays, volume by age, 2008-14
                                                  • Average holiday length increases after age 55
                                                      • Figure 23: Overseas holidays, number of trips, nights and spend by age, 2014
                                                    • Over 65s also show fastest growth in domestic holiday market
                                                      • Figure 24: UK domestic holidays, volume by age, 2011-13
                                                    • Boomers are biggest spenders on domestic tourism
                                                      • Figure 25: UK domestic holidays, number of trips, nights and spend by age, 2013
                                                    • What kinds of holidays do Boomers take?
                                                        • Figure 26: Holiday types taken in the past 12 months, by generational group, October 2014
                                                      • Tailor-made for Boomers
                                                        • Boomer booking windows
                                                          • Figure 27: Months holidays were taken in the past 12 months, by generational group, October 2014
                                                      • The Consumer – What You Need to Know

                                                        • Boomers may be better off but are highly value-seeking
                                                          • Cultural discovery and gastronomy are key
                                                            • Technology-escapers vs connectors
                                                              • Age cannot wither them
                                                                • The four key Boomer target groups
                                                                • Baby Boomer Holiday Taking

                                                                  • ‘Older Boomers’ more likely to take longer holidays
                                                                    • Figure 28: Types of independent holiday taken in the past 12 months, June 2015
                                                                    • Figure 29: Types of package holiday taken in the past 12 months, June 2015
                                                                    • Figure 30: Trends in 4+ night holidays abroad taken in the past 12 months, by generational group, June 2015
                                                                  • Paying off mortgage unshackles Boomer travel dreams
                                                                    • Figure 31: 4+ night holidays abroad taken by baby boomers in the past 12 months, mortgagees vs outright homeowners, June 2015
                                                                • How Much are Baby Boomers Willing to Spend on Travel?

                                                                  • Boomers have high spending power but are value-seekers
                                                                    • Figure 32: Average amount willing to spend on holidays, by generational group, June 2015
                                                                    • Figure 33: Average amount Baby Boomers are willing to spend on holidays, by demographics, June 2015
                                                                    • Figure 34: Amount Baby Boomers are willing to spend on holidays, June 2015
                                                                  • Highest spending Boomers
                                                                  • Baby Boomer Travel Values

                                                                    • Gastronomy, cultural discovery and authenticity are distinctively Boomer themes
                                                                      • Figure 35: Most important holiday factors among Baby Boomers, June 2015
                                                                    • Escape from pressure remains key for younger Boomers
                                                                      • Figure 36: Most important holiday factors, Baby Boomers vs all travellers, June 2015
                                                                      • Figure 37: Most important holiday factors, younger vs older Baby Boomers, June 2015
                                                                    • Older Boomers move towards more organised formats but most remain independently-minded
                                                                    • Baby Boomer Preferred Holidays

                                                                      • Rural retreat is favourite holiday type
                                                                        • Figure 38: Preferred holidays chosen by Baby Boomers (rated 4 or 5 on a five-point scale), June 2015
                                                                      • Big ticket potential
                                                                        • Adventures of mind and body
                                                                          • Putting something back
                                                                            • Personal dreams
                                                                            • Baby Boomer Travel Attitudes

                                                                              • Bucket Listers vs Location Lovers
                                                                                • Figure 39: Baby Boomer ‘Bucket Listers’ vs ‘Location Lovers’, June 2015
                                                                              • Freedom and autonomy are key
                                                                                  • Figure 40: Baby Boomers freedom vs convenience, June 2015
                                                                                • Digital Detox
                                                                                    • Figure 41: Baby Boomers Technology Escapers vs Connectors, June 2015
                                                                                  • Travel agelessness of Boomers
                                                                                    • Figure 42: Baby Boomers’ long-term travel intentions, June 2015
                                                                                • Baby Boomer Traveller Target Groups

                                                                                    • Figure 43: Baby Boomers travel cluster groups, June 2015
                                                                                  • Active Adventurers
                                                                                    • Beach Boomers
                                                                                      • Gently Active
                                                                                        • Hassle-free Tourers
                                                                                          • No clear preference
                                                                                          • Appendix

                                                                                            • Definition
                                                                                              • Abbreviations

                                                                                              Companies Covered

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                                                                                              Baby Boomers Travel - UK - July 2015

                                                                                              £2,195.00 (Excl.Tax)