A recent study conducted by ABN AMRO and commissioned by the travel umbrella organization ANVR has shed light on an intriguing trend: individuals aged 55 and over are set to substantially

increase their holiday spending in the years to come. The primary factors contributing to this surge in holiday expenditures are the aging demographic and their higher disposable income.

Economists project that, by 2027, the 55-and-over age group will lavish approximately 10.7 billion euros on vacations, marking a significant uptick of 3.5 billion euros compared to the figures from 2022. This generation often enjoys greater financial flexibility since their households typically comprise dual-income earners, and their children have flown the nest. This affluence opens doors to more extensive travel options, the selection of upscale accommodations, and the pursuit of unique experiences. As a result, new travel trends are emerging among older demographics, including active vacations and culinary journeys, as highlighted by the study.

The popularity of cycling vacations is also on the ascent, partially due to the proliferation of electric bikes. ABN AMRO predicts that spending on such vacations is poised to surpass the 1 billion euro mark this year for the first time. Of this sum, over half can be attributed to individuals aged 55 and above. Recognizing this trend, hotels and holiday parks are capitalizing on it by featuring cycling routes in proximity to their establishments and offering secure storage facilities for electric bikes.

In the years ahead, ABN AMRO foresees a surge in vacation spending by those aged 65 and over. The total expenditure of this group is expected to grow by 810 million euros, exceeding 5 billion euros by 2027. Furthermore, the vacation spending of the 55-64 age group, once referred to as 'the lost generation,' is experiencing a substantial upturn, according to the bank's economists.

Notably, individuals aged 55 and over presently account for 41 percent of all tourist overnight stays in European hotels, holiday parks, and star-rated campsites. Additionally, tourists aged 65 and over contribute to nearly a quarter of total tourist overnight stays. Photo by Arthuro SantaCruz, Wikimedia commons.