Looks like the Great Depression is finally helping to rescue an ailing travel industry! What!?
No, I’m not talking about the economic downturn we’re supposedly just coming out of... but about the economic collapse that rocked the 1930s. The lessons learnt during those times are making their presence felt on the travel and tourism industry right now.
What we are witnessing today is the rise of the "Greycationers", the 50-plus age group that grew up in the shadows of the Great Depression, with mums & dads that placed economic thrift at a high premium. This group of baby-boomers, who grew up in the 1960s, redefined the youth culture in their heyday, and are making their presence felt once more.
In fact, it may be difficult to believe, but the 50-plus population may hold the key to helping the British tourism market survive and prosper through the current depression. How? The baby-boom generation is keen to explore the UK, and also has the financial means to do so.
These Greycationers prudently avoided the economic mistakes of the younger generation, and now they are actually helping the British tourism industry boom, not just survive!
With £175 billion of disposable income, present day Over 50’s are extremely advertising-savvy and knowledgeable. Tired of their boring OAP image, they are looking to head off on adventurous holidays and according to tour operators, popular activities for this group include sports and health pursuits, spas, cycling and swimming, and also vacations organised around various cultural events like museum visits and concerts.
Looks like crochet, knitting and bowls is off the menu!
Says a Reuters report, “In Britain, where domestic holidays are also in vogue, summer rock and folk festivals are multiplying and boomers are taking road trips in cult autos like the Volkswagen Microbus.” A recent report by the UN Travel Organization also shows that domestic and short-haul travel in Europe is holding up better than long-haul.
Tour operators are beginning to take advantage of this trend. Active You’s favourite? Over 55’s specialist Grand UK Holidays who point out that the Over 55’s are now taking two, three or even more holiday trips a year.
The operator has introduced 48 new tours in its latest brochure with highlights including a tour to Pensthorpe in Norfolk, location for TV’s Springwatch, as well as a ‘Medieval Magic in Middle England’ holiday which includes an evening at a Shakespeare play. In Scotland, customers can join a new two-centre tour taking in the Isle of Skye and Fort William and a Royal Scotland tour that includes a visit to the Queen’s residence at Balmoral.
With most Over 55’s having no mortgage, no children at home and plenty of disposable income it looks like many are doing what my father terms ‘skiing’ – spending kids inheritance!
