According to a recent TravelDaileyNews article, consumer groups of all ages are reporting increased planning to spend on holidays and vacations, but those 55 and above are giving this category the highest priority over other discretionary spending.
David Trunkfield, partner at PwC, said: “The elderly and retired are the most positive about spending on holidays next year. Consumers have also eased back a little from some of the more radical ‘coping strategies’ they have adopted to reduce holiday spending over the past three years.”
Over the next 12 months, those surveyed are more likely to spend less on dining out, takeaways and clothing, shoes and accessories rather than cut down on their main holiday or short breaks.
And another article, from the Chicago Tribune, points out that this age group is not only proritizing travel for themselves, but are increasingly bringing along grandkids or the entire family as a way to connect and share unique and special experiences:
The new MMGY Global/Harrison Group 2012 Portrait of American Travelers
survey, which polls 2,527 U.S. households nationally, found that 37 percent of leisure travelers say they've traveled with grandkids just this past year. Twenty-two percent report they are even leaving their children behind and just inviting the grandkids along. Other research commissioned by Disney suggests the number is even higher for those grandparents with incomes more than $40,000 a year.
Has your business been impacted by increased demand for 55+ travel and / or multigenerational trips? We want to hear about it in the comments.