Europe’s golden generation travel market is estimated to reach US$ 68 Billion in 2022. As per the report, sales are predicted to grow at a strong 4% CAGR, with the market valuation reaching US$ 88.81 Billion by 2032.
There is a rise in senior tourists in Europe’s tourism market. The travellers in the age group of 55 years and above are referred as the golden generation tourists.
This segment contains working as well as retired populations. Also, they have a decent spending capacity and time to travel. By virtue of which, the golden generation travellers account for a major share in the tourism market globally. These travellers travel for several purposes such as holiday, visiting friends or family or for medical reasons in some cases.
They also account for a major share in the outbound tourism market. The working group among the golden generation travel for business purposes too.
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Moreover, there are several initiatives which are put in place by various countries in the EU. These initiatives improve the convenience of the travellers while providing additional financial support in some countries. The areas with the most cultural significance, natural beauty, and historical significance are the ones that Europe’s golden generation travels to the most. France, Spain, Germany, and Italy are the most travelled to countries. Austria, the United Kingdom, Turkey, Greece, Portugal, the Netherlands, Switzerland, Russia, and Poland are additional regions.
“Senior travellers are likely to have higher disposable incomes, and have enough free time post-retirement to go for long trips. While they will look for travel options that which offers convenience and comfort while travelling” says an FMI analyst.
Key Takeaways:
- By booking channel, the in-person segment is anticipated to hold a noteworthy share of nearly ~55%.
- Based on packages, Europe’s Golden Generation travelers will continue to opt tour group deals over the normal travel deals.
- By 2050, seniors will make up almost one-fourth of the world’s population. This suggests that they will spend more on travel in the future than all travellers from the younger generation put together.
- Older travellers are concerned about their security, threats, and health safety due to some form of physical disability.
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Key Players
- Road Scholars
- Globus
- Intrepid Travel
- Trafalgar
- Smithsonian Journeys
- Backroads
- Overseas Adventure Travel
- Elder Treks
- Grand Circle Travel
- Grand European Tours
- Colette Tours
Europe’s Golden Generation Travel Market by Category
By Tourism Type:
- Cultural Tourism
- Culinary Tourism
- Sports Tourism
- Spiritual Tourism
- Medical Tourism
- Others
By Booking Channel:
- Phone Booking
- Online Booking
- In Person Booking
By Tourist Type:
- Domestic
- International
By Tour Type:
- Independent Traveller
- Package Traveller
- Tour Group
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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