Overs 50s continue to spend big on holidays

Despite the perceived problems faced by the tourism industry, it seems that the over 50s age group are continuing to spend big on holidays.

Over 50s holiday









With more options than ever, over 50s have their pick of holidays. From singles holidays for over 50s, to tours and skiing, the elder age group are spending more on a holiday than those half their age.

The amount spent on travel by over 50s has gone up by 23%, so says a study by the CEBR consultancy for Saga, a holiday insurance specialist for that age group. This is in contrast to the under 30s, who have cut their spending on tourism by 5% during the same time.

The over 50s are responsible for over half the UK’s total spending on holidays, spending £39 billion on travel last year, £2.1 billion of which was on cruises.

The Institute for Fiscal Studies (IFS) said earlier this year that since the financial crisis, younger people had been suffering a fall in income, while over 60s were enjoying a higher standard of living.

Over 60s saw an 11% rise in incomes in the seven years building up to 2015, while the under 30s saw their income drop by 7%.

Under 30s unwilling to spend







Around the same time, Saga also released a poll, which showed that despite the Brexit vote, 99% of its customers were sticking by their holiday plans.

The vote’s result on June 23 had raised significant concerns about tourism, but these figures from Saga suggest that everyone is just carrying on as normal.

This comes not long after ABTA’s research which said that there was an 8.9% increase in the number of Brits going on holiday.