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Leaves are turning, grapes are filling the crushing barrel, the air is crisp, and adults 50+ are finding their fancy turning to love... of travel. Savvy travelers know that autumn brings thinning crowds and lower prices in many sought-after destinations, but the growing market of travelers 50-65 aren't just savvy. With bucket list trips and weekend getaways on the agenda and plenty of time and money at their disposal, they're the fuel behind the travel business. This fall, here are the top reasons why travel marketers should be wooing them.
- Adults 50+ are responsible for 80% of all travel spending, representing a market of over $150 billion, a trend that will continue as 50+ population growth outpaces that of 18-49 by a 3:1 margin over the next decade.
- Older adults will take an average of four trips per year and rank travel as their number one leisure activity. 80% want to visit places they've never been before. The 50+ demographic is also highly likely to bring along adult children or grandchildren.
- Travelers 50-65 invest more in the experience than younger travelers, spending 23% more on domestic vacations and 22% more on foreign vacations. 50+ are 45% more likely than younger travelers to spend $5,000+ per year on domestic vacations, and 75% more likely to spend $8,000 per year on foreign vacations.
- While they are often-overlooked in the digital world, they are a prime target for online travel marketing—16 million Americans over 50 go online every month to make travel plans, a number that has grown by 31% in the last five years. Women, who make 90% of travel purchases, dominate social media.
Travel is in AARP’s sweet spot, the AARP Travel site helps thousands of members book travel, rent cars, find hotels and dream & plan the perfect vacation getaway. Don’t miss the boat, contact a rep today for “destination success”.