Millennials are all the rage these days, growing in number and changing the travel industry in the process. But senior travelers figure to have a greater say in the coming years.
Alot of attention has been placed on millennials in the travel industry today and for good reason but one potentially highly valuable and highly lucrative segment of the population may not be getting the attention it deserves.
Senior Travelers or those 60 years of age or older, are only growing in numbers, as Anita Mendiratta of CNN Task Group pointed out, per eTurboNews.
The global share of seniors, in proportion to the world’s population, increased from 9.2 percent to 11.7 percent from 1990 to 2013, in large part due to a decrease in mortality rates and a decline in fertility rates, according to the United Nations World Population Report on Ageing. By 2050, seniors are expected to make up 21.1 percent of the world’s population, according to the same report, growing from 841 million people in 2013 to 2 billion. Seniors are expected to exceed the number of children for the first time ever in 2047.