In 2011, Boomers started turning 65 at a rate of 7,000 to 10,000 a day with 54% of them having already retired—a boon for the travel industry as over half of them say they plan to travel more according to an AARP study.
Boomers are already the most traveled generation in history. They’re active, identify with being young at heart rather than with being Golden Agers, are inclined to adventure, and have a continued desire to learn.
According to an AARP survey, this age group places travel higher in importance than everything else, including spending time with family, health, and working out.
On top of that, they have more disposable income because of reduced child-raising responsibilities and, as they begin to retire and downsize their work loads, they also have more time to travel.
This market remains severely underserved as most travel and tourism organizations continue to cater to older travelers as they consider this a safe market. But products and services aimed at Golden Agers are of no interest to Boomers.
A World Tourism Organization study reveals that Boomers are expected to double the size of the industry in the next decade and no wonder! They own a large share of the wealth in America and are about to inherit a whole lot more from their parents.