Over 65 Travel News
30 June 2006 'Grey travellers' offer growth potential
According to research, an aging but increasingly wealthy Asian population is set to reinvigorate the travel industry.
Potentially of interest to travel insurance providers, Abacus International claim that 'grey travellers' now represent one of the fastest growing segments for the travel industry, reports Hospitalitynet.
'Grey travellers are one of the fastest-growing segments for the travel industry globally, and in Asia.
'We're seeing the emergence of a new generation of older travellers who are healthy, active, street-wise and have unprecedented spending power … [and] … specific needs,' commented Don Birch, Abacus International president.
Although the travel industry is increasingly responding to the demands of this consumer segment, travel insurance companies are ideally positioned to benefit through the tailoring of products to cater for this group's core needs.
While older travellers increasingly seek adventure, they also require peace of mind. Travel insurance providers are getting better at offering enhanced plans with differing levels of protection.
As this market will not contract, it inevitably gives travel insurance providers both time and scope to develop new travel insurance products as the market matures.
Abacus International is a Singapore based travel procurement agency present in 24 distinct markets, specialising in the unique opportunities and challenges of the Asia-Pacific region. 
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