2022
9
UK The Over-55 Traveller Market Report 2022
2022-09-22T20:14:52+01:00
OX1102657
2195
155841
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Report
en_GB
“Over-55s are already more valuable to the holiday market than under-35s and likely to become more so again as their numbers increase and more of them are able to remain…

UK The Over-55 Traveller Market Report 2022

£ 2,195 (Excl.Tax)

Description

The UK Over-55 Traveller Market Report identifies mature consumers’ attitudes towards domestic and overseas travel, the impact of the cost of living and growth opportunities in the over-55s travel industry. This report covers the senior travel market size, market forecast, market segmentation and industry trends in the UK travel market.

 

Current Landscape of the Senior Tourism Market

Growth in the senior travel market has returned with the lifting of COVID-19 restrictions but at a slower pace than the overall travel industry category due to older people’s greater caution around continuing infection risks.

Record levels of inflation and energy prices will negatively impact the senior tourism market, with many holidaymakers trading down, but over-55s are significantly more confident than younger people about their financial situation and, therefore, more likely to continue taking holidays as a result.

 

UK Senior Travel Market Share and Key Industry Trends

The rising value of older people to the solo travel market has been influenced primarily by a long-term shift in the age structure of the UK’s singles population, with an increased amount of over-50s not living in a couple. Solo travel will be an important sector of the senior travel market in the future, with a strong emphasis on genuinely individual experiences rather than glorified coach tours.

  • 43% of over 55 travellers plan on holidaying aboard in the next three years.
  • 71% of mature holidaymakers intend on travelling with their spouse/partner.
  • 69% of over 55 holidaymakers prefer to book a holiday online.
  • 52% of mature travellers are interested in taking a beach/seaside holiday.

 

Future Trends in the UK Senior Travel Market

Mintel’s senior travel market research identifies that one of the most significant opportunities for the UK travel market will be the UK’s aging population. The over-55s demographic has an increased willingness to remain active for longer and stay engaged with leisure interests such as travel. Over-55s are significantly more valuable to the UK travel market than under-35s, taking 30% more trips in 2019 and spending 52% more on them.

To discover more about the UK Over-55 Traveller Market Report 2022, read our UK Lifestyles of the Over-55s Market Report, or take a look at our other Holidays and Travel Market Research.

 

Quickly Understand

  • The impact of rising inflation and the cost-of-living crisis on the senior tourism market.
  • The speed and shape of the UK travel market recovery from the COVID-19 pandemic.
  • Variations in demand for and spending on domestic and overseas travel.
  • Over-55s’ holiday and booking preferences.
  • Changes in older adults’ attitudes towards travel following the COVID-19 pandemic.
  • Potential growth opportunities being created by population change.
  • Explores senior travel market size and senior travel market data.

 

Covered in this Report

Products: Package Holiday, Independent Holidays.
Brands:  Silver Travel Advisor, Wendy Wu Tours, Titan, One Traveller, G Touring, Riveria, Carnival, Royal Caribbean, MSC, Saga Holidays, Escorted Tours, Great Rail Holidays, Cosmos Tours, Newmarket Holidays, Leger Holidays.

 

Expert Analysis from a Specialist in the Travel Industry

This report, written by David Walmsley, a leading senior analyst in the UK Travel Industry, delivers in-depth commentary and analysis to highlight current trends in the senior tourism market and add expert context to the numbers.

“Over-55s are already more valuable to the holiday market than under-35s and likely to become more so again as their numbers increase and more of them are able to remain active longer into later life.”

David Walmsley - Research Analyst

David Walmsley
Senior Leisure Analyst

Table of Contents

  1. Overview

      • Key issues covered in this Report
        • Market context
          • Products covered in this Report
          • Executive Summary

              • The five-year outlook for over-55s travel
                • Figure 1: Over-55s travel market outlook, 2022-27
              • The market
                • COVID caution slows recovery
                  • Figure 2: Over-55 holiday market value, 2017-27
                • Spending set to swing back towards overseas segment
                  • Figure 3: Over-55 holiday market value, by segment, 2017-22
                • More active and more affluent driving market growth
                  • Figure 4: Financial situation of over-55s, 2022
                • Companies and brands
                  • Older travel takes around a third of market share
                    • Figure 5: Over-55s’ share of holiday market volume and value, by segment, 2019
                  • New experiences for the experienced
                    • The consumer
                      • Demand approaches pre-pandemic levels
                        • Figure 6: Holiday intentions, by age, 2022
                      • Sea, sand and cities are top choices
                        • Figure 7: Types of holiday of interest to over-55s, 2022
                      • England dominates domestic demand
                        • Figure 8: Over-55s’ preferred UK holiday destinations, 2022
                      • Europe first but a majority already looking further afield
                        • Figure 9: Over-55s’ preferred overseas holiday destinations, 2022
                      • Two’s company – but one’s an increasingly important crowd
                        • Figure 10: Over-55s’ anticipated holiday companions, 2022
                      • Silver surfers catch online wave
                        • Figure 11: Over-55s’ holiday booking preferences, 2022
                      • COVID leaves legacy of caution
                        • Figure 12: Over-55s’ post-pandemic attitudes towards travel, 2022
                    • Issues and Insights

                      • Over-65s can be an increasingly important target group
                        • Solo travel set to skew older
                        • Market Size and Performance

                          • COVID concerns slow pace of recovery
                              • Figure 13: Over-55 travel market size, 2017-22
                          • Market Forecast

                            • More affluent and more active to keep market in growth
                              • Figure 14: Over-55s travel market outlook, 2022-27
                            • Demand swings back towards overseas destinations
                                • Figure 15: Over-55 holiday market value forecast, 2017-27
                                • Figure 16: Over-55 holiday market volume forecast, 2017-27
                                • Figure 17: Over-55 holiday market overseas value forecast, 2017-27
                                • Figure 18: Over-55 holiday market overseas volume forecast, 2017-27
                                • Figure 19: Over-55 holiday market domestic value forecast, 2017-27
                                • Figure 20: Over-55 holiday market domestic volume forecast, 2017-27
                              • Learnings from the last income squeeze
                                • Figure 21: Over-55 travel market size, 2010-14
                              • Forecast methodology
                              • Market Segmentation

                                • Foreign holidays soak up spending
                                  • Figure 22: Over-55 overseas travel market size, 2017-22
                                • Stay-home requirements boost domestic value
                                  • Figure 23: Over-55 domestic travel market size, 2017-22
                              • Market Drivers

                                • Affluent older people less concerned by inflation threat
                                    • Figure 24: Financial situation of over-55s, 2022
                                  • Some caution as travel market bounces back
                                      • Figure 25: Holiday booking among over-55s, July 2022
                                    • Older adults more COVID-confident closer to home
                                        • Figure 26: Concern among over-55s around the lifestyle impacts of COVID-19, 2022
                                      • Ageing population structure grows market potential
                                          • Figure 27: Over-55 population estimates, 2016-26
                                      • Market Share

                                        • Over-55s take a third of all holidays …
                                          • Figure 28: Share of holiday trips, by age, 2019
                                        • … and spend £3.50 in every £10
                                          • Figure 29: Share of holiday spending, by age, 2019
                                        • Specialist operators and agencies
                                        • Over-55 Travellers

                                          • Demand returns to near pre-pandemic levels …
                                              • Figure 30: Holiday intentions, by age, 2022
                                            • … but travellers still happier to holiday at home
                                                • Figure 31: Domestic and overseas holiday intentions, 2022
                                            • Types of Holiday

                                              • Sea, sand and cities are top choices
                                                • Figure 32: Types of holiday of interest to over-55s, 2022
                                              • River cruising grows post-pandemic potential
                                                  • Figure 33: Types of holiday of interest to over-55s, by age, 2022
                                              • Holiday Destinations

                                                • England – but not London – dominates domestic demand
                                                    • Figure 34: Over-55s’ preferred UK holiday destinations, 2022
                                                  • Europe is almost everyone’s first foreign stop
                                                    • Figure 35: Over-55s’ preferred overseas holiday destinations, 2022
                                                  • Over-55s set for key role in long-haul recovery
                                                      • Figure 36: Interest in short- versus long-haul travel, by age, 2022
                                                  • Holiday Companions

                                                    • Focus on friends and family set to grow
                                                        • Figure 37: Over-55s’ anticipated holiday companions, 2022
                                                      • Solo travellers stride out in front
                                                          • Figure 38: Intention to travel alone, by age, 2022
                                                      • Holiday Booking

                                                        • Silver surfers catch online wave
                                                            • Figure 39: Over-55s’ holiday booking preferences, 2022
                                                          • Over-65s hang on to telephone habit
                                                              • Figure 40: Over-55s’ holiday booking preferences, by age, 2022
                                                          • Attitudes towards Travel

                                                            • COVID caution still to the fore
                                                              • Figure 41: Over-55s’ post-pandemic attitudes towards travel, 2022
                                                            • Need for advice prioritises the practical
                                                                • Figure 42: Increased importance of expert advice when booking a holiday, by age, 2022
                                                            • Appendix – Data Sources, Abbreviations and Supporting Information

                                                              • Definitions
                                                                • Abbreviations
                                                                  • Consumer research methodology
                                                                  • Appendix: Forecast Methodology

                                                                    • Market forecast and prediction intervals
                                                                      • Figure 43: Forecast of over-55 holiday market value, 2022-27
                                                                      • Figure 44: Forecast of over-55 holiday market volume, 2022-27
                                                                      • Figure 45: Forecast of over-55 overseas holiday market value, 2022-27
                                                                      • Figure 46: Forecast of over-55 overseas travel market volume, 2022-27
                                                                      • Figure 47: Forecast of over-55 domestic holiday market value, 2022-27
                                                                      • Figure 48: Forecast of over-55 domestic holiday market volume, 2022-27
                                                                    • Market drivers and assumptions
                                                                      • Forecast methodology

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