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Over 65 Travel News
08 March 2006 Over 50s 'most travel savvy'
The over 50s are the most money wise when it comes to exchanging money for a foreign holiday, according to a new survey.
Research carried out by Saga Travel Money revealed that four in five of the over 50s purchase their foreign exchange before going on holiday, resulting in a smaller likelihood of paying higher commission rates at their destination.
Just under 80 per cent actively seek out the best deals on foreign exchange, with money-savvy travellers checking for exchange rates and searching newspapers and the internet for the best deals available.
More than any other age group questioned, the over 50s were the most determined to purchase their foreign exchange at zero per cent commission.
Over seven per cent of 16 to 24-year-olds would consider paying over three per cent in commission.
Further research from Sainsbury's Bank revealed that the younger generation were the least likely to purchase travel insurance.
For the over 50s covered by senior travel insurance and benefiting from money savings as a result of shopping around for their foreign exchange, the old adage 'older and wiser' may prove to be justified.
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