The Travel Market for Older Consumers

Wellness tourism, adventure travel, and nomadic lifestyles are all part of a redefined version of "golden years" travel.

Work hard, save, and then travel the world. The idea that retirement allowed people to spend their golden years traveling is an alluring one, for sure.

Given that you now know that the idea of “golden years” was a concoction created by marketers based on a set of circumstances that hasn’t existed in forty years, you may wonder if the dream of travel will be a reality for most older consumers now and into the future.

The answer is, probably more than ever… but for different reasons. On one hand, older Baby Boomers are likely the last generation to have the traditional golden years experience. They have the money to not only retire comfortably, but to also make travel a priority. 

For younger Boomers and Generation X, travel will also be a priority – but it will be combined with extended careers to generate the income it will take to keep going with the lifestyle that they’re accustomed to. With midlife extending to 75 for healthy agers, the intersection of meaningful work and experiential adventures presents an entirely new lifestyle segment.

While the stereotype of older people going on cruises will remain a reality (because some people seem to really enjoy cruises for some reason), the strongest travel trends have nothing to do with senior shuffleboard and bountiful buffets.

Let’s take a look at the top three travel trends of older people. Each of these could be a niche in themselves, or could encompass aspects of an overall focus on travel for 50+ consumers.

Wellness Tourism

Wellness travel is an emerging trend that appeals to adults of all ages. But given we’ve seen the rise of wellness communities and “blue zone” areas that appeal to those seeking to better embrace healthy aging, it’s especially attractive to older consumers.

It’s important to differentiate wellness tourism from medical tourism, the latter of which involves ​​traveling to another place to receive surgery or a dental treatment because it is more affordable or higher quality. Wellness is about being proactive in order to maintain a healthy lifestyle, reduce stress, prevent disease, and enhance our wellbeing. This is what motivates wellness tourism.

In short, this is about an effort to extend healthspan coupled with the relaxation of a vacation. At the more intense end, people travel to experience new therapies and devices ranging from hyperbaric oxygen chambers to compression boots as a “biohacking” version of the traditional spa experience.

As always, you want to avoid promoting “wellness tourism for old people” and focus on life stage and healthspan priorities. A value-focused marketing strategy combined with authentic health benefits instead of “healthwashed” lip service to wellness experiences are crucial.

• Baby Boomers Create Big Impact on Wellness Travel Sector (Health and Fitness Travel)

• A Look at How Biohacking Became the Latest Travel Trend (Condé Nast Traveller)

• What Is The Wellness Economy? (Global Wellness Institute)

Adventure Travel

Adventure travel is the exact opposite of a sheltered resort experience or laying around on a beach. And you may be surprised at how popular it’s become with older people.

But it makes sense. Adventure travel requires both disposable income and free time, and those who have achieved a comfortable retirement have both. Monika Sundem, chief executive of trip planner Adventure Life, says her customers in the post-65 range have gone from 23.5% in 2019 to 35% last year, and they are booking such trips as treks in Patagonia, mountain biking in Ecuador and climbing in the Alaskan backcountry.

Shannon Stowell, president of the Adventure Travel Trade Association says adventure travel has gained popularity with an older demographic in part because there are more comforts available, such as lodges with good food and guides who will transfer your gear. “Trekking to Machu Picchu or Everest Base Camp used to be so much more hard-core,” he says. “Better gear and more professionalism in guiding have made these adventures more accessible.”

Adventure travel seems to be an enduring trend given its popularity with those currently in their 40s and 50s, and especially women. Again, the fitness side of healthy aging is at play here, combined with a desire for experiences that transcend relaxation and move into the realm of a personal challenge:

“We definitely see a lot of travelers in their 40s and 50s prioritizing adventure travel for themselves,” says Allison Fleece, co-founder of WHOA Travel (an acronym for Women High on Adventure). The company offers women-only group trips where travelers work together to accomplish a goal, such as hiking to the top of Kilimanjaro or trekking alpine landscapes on the Tour du Mont Blanc.

Adventure travel is the perfect expression of the new longevity lifestyle. It combines fitness with the desire for new experiences and challenges that epitomizes many of the most lucrative older consumers.

• Time to Choose Your Own Adventure (Further)

• Adventure Travel Is Increasingly Not Just for the Young (Wall Street Journal)

• Adventure Travel Is A Growth Industry Thanks To Women Over 40 (Washington Post)

The New Nomads

The concept of digital nomadism has received plenty of press over the past decade, with increased attention lately thanks to the pandemic. But it’s not a new idea, especially for older people. 

Nomadism is also called PT for “perpetual tourism” or perpetual traveler, although the motivations for that lifestyle had more to do with privacy and avoiding taxation than the more adventure-oriented nomadic lifestyle.

These days, more Americans than ever say they want to leave the country. A recent survey indicates that 34 percent of Americans would like to settle in another country, which is up from 10 percent of Americans asked by Gallup back in 1974.

The political situation in the U.S. is a big motivator, which won’t improve no matter what happens this fall. Plus there’s the high of living, crazy real estate prices, expensive healthcare, guns, and more. 

Generation X may lead the charge for increased nomadism to lower their cost of living and access more affordable health care as they start location independent businesses to continue earning income well past traditional retirement age. In fact, there’s a strong Gen X contingent among nomads already.

Although the stereotypical digital nomad is viewed as young and male, 31% are female, and 54% are older than 38. Data shows that almost 35% of digital nomads worldwide are aged between 40 and 59. There are also plenty of people over the age of 65 living abroad, but they’re generally in-place expats enjoying a more affordable retirement.

• Digital Nomadism Goes Mainstream (Forbes)

• Digital Nomad Over 40-50: Thriving in the Remote Work Lifestyle (The Digital Nomad)

• How Older Digital Nomads Live & Work – Interviews with Gen X and Baby Boomer Location Independent Entrepreneurs (Nomad Flag)

That’s all for this issue. Have a great week!

Keep going-

Brian