Retiree Travelers Are Seeking New Experiences On Vacation

By Chris Fair

For all the talk and interest directed at their Millennial counterparts, the 65+ crowd is actually the fastest-growing demographic in the U.S. Today, 17 percent of Europe’s population is over 65, seven percent of Asia’s and 10 percent of North America’s. In fact, the world’s population of people 65 and older will grow from 600 million in 2015 to more than one billion by 2030. Retiree travelers are a cohort that don’t often get the attention they deserve, which is why we are giving you our 2015 Portrait of the U.S. Retiree Traveler report for free. To prepare this report, last year we asked 1,147 U.S. travelers over 65 what types of vacations they were planning on taking, what places they wanted to go and what types of experiences they wanted to participate in while on vacation. Surprisingly, 86 percent said they like to Learn New Things, higher than Visiting Cultural Attractions (83 percent) and Attending Cultural Events & Performances (76 percent).  DOWNLOAD YOUR COPY OF THE 38-PAGE REPORT Similarly, they listed Once-in-a-Lifetime activities (39 percent) as their most desired future activity, a stark 16 percent more than the next closest activity - Volunteering. STRIKING OFF THE BUCKET LIST Retiree travelers have become more curious and adventurous in their preferences of travel activities, and as the wealthiest demographic in the world, they will likely continue to spend money on the activities they seek to try for the first time. In fact, the top motivator for traveling abroad is striking goals off the bucket list, according to the American Association of Retired Persons (AARP). Similarly, BBC Travel lists safari trips, whale watching, and flying on a hot air balloon as a few of the most popular bucket list activities. The perception that seniors are limited in their capacity to participate in active pastimes is quickly diminishing.  In a recent survey of readers by SeniorLivingMag.com, over 80 percent of respondents said they seldom, if ever, require options like handicapped parking, ramps or elevators while traveling. In the same study, 23 percent said they consider themselves adventure-seekers while traveling, and 14 percent said they are continually looking for an educational experience on vacation. And as Resonance found, this translates into the activities they often seek. Our data shows that Retiree travelers prefer to Visit Historic Sights (83 percent), Visit Historic Homes/Gardens (75 percent) and Go to See Plays or Musicals (76 percent) significantly more often than travelers in general. This not only plays into Learning New Things, but also shows that aspects of traditional brick-and-mortar sightseeing continues to remain a popular aspect of Retiree travel.  While the thirst for knowledge and adventure is on the rise, Dining (96 percent) and Sightseeing (95 percent) are the two most popular activities while on vacation. The former out of necessity; the latter, possibly, out of routine. And as for their counterparts - Millennials - Retirees are passing on words of wisdom to the younger demographic. ADVICE FOR MILLENNIALS In a December 2015 study, the Transamerica Center for Retirement Studies asked more than 900 Retirees to give travel advice to the younger generation:    “Take chances when you are young. Travel and take advantage of what is available to you. Don’t wait for retirement to enjoy life. Do what you know is right and you will have no regrets.” Or, Millennials could listen to the 87-year old Florida woman who sold her 10 acre home to live aboard a luxury cruise ship. After Lee Wachtstetter's husband died, she honoured his wishes to “keep cruising” by becoming a resident of the 1,000 plus passenger Crystal Serenity ship. She's visited more than 100 countries and pays roughly $165,000 per year. Now, that’s adventure. To learn more about accommodation preferences, as well as destination trends of U.S. Retiree Travelers, download the free 2015 Portrait of the U.S. Retiree Traveler report.