Over 65 Travel News

22 April 2006  Elderly consumer power on the increase
A company in the US has calculated that the section of the population aged 50 and over is set to increase by 25 per cent in the next ten years, making those buying travel insurance over 65 into a much bigger market.

Due to this demographic shift the American marketing experts have forecast that the segment of society aged 50 plus will become the new target for companies, marketers and travel agents, according to the Bridgeport news.

A study of the baby boomer generation by the Southeastern Institute of Research in Virginia, USA, showed that those over 50 consider themselves to be middle aged, believing that old age will begin after 75.

Paul Fisher, president of marketing and advertising company Designcom, stated: "All the reports I've read suggest that if you're not marketing to those 50 and over, you're missing out.

"The material shows that they have the biggest pool of discretionary money and a lot of it goes to leisure activity from those who are retiring younger."

This could suggest that travel amongst older people could increase over the next ten years making senior travel insurance policies more popular.

Several travel insurers now offer travel insurance without an upper age limit.




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