Cost of living concerns do not have an impact on budget for mid-life travellers, with only a small proportion (12%) considering budget tours, new research aimed at travel agents reveals.
The average travel budget for the over-50s traveller was found to be a “healthy” £3,357 per person, according to a study of more than 1,000 past escorted touring customers conducted by The Travel Corporation (TTC) tour brands Contiki, Costsaver, Trafalgar, Insight Vacations and Luxury Gold.
Mid-life travellers are also favouring premium tours, with more than half considering a tour that has many inclusions and four-five star hotels.
Of those surveyed, 65% said that escorted tours take the hassle out of planning a holiday and more than half stated they helped them to budget effectively, with 46% saying that they see tour organisers as the experts. This desire for ease and simplicity is still a key selling factor for touring verses self-guided holidays.
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All-inclusive holidays are the next top choice, with 46% considering this as an option as well as touring.
The findings suggest the two varying holiday types can still have appeal to the same customer.
This acts as a benefit for travel agents who can offer the two options alongside each other, even more so knowing that more than half of this audience (52%) are likely to be influenced into buying a holiday from reading a travel brochure.
Almost three quarters (72%) of tourers are prioritising sightseeing or bucket list tours in the next 12 months, and more than half (59%) are looking to explore places they normally would not travel to on their own. Additionally, 51% are “significantly more likely” to consider specialist tours than younger tourers.
Fifty-plus travellers are also considering more than five locations on average per tour, with Europe as their preferred region.
The study found that 65% of over-50s plan their travels with their partner, with only a small number (16%) considering solo travel.
They are planning primarily online via tour operator websites (63%).
However, in-person expertise is still highly valued with 28% saying travel agency visits have influenced their booking decisions.
The wider study including all age groups from 18-plus also found that people are looking to book their tour soon, with 61% looking to do so in the next six months before travel or sooner, with 55% looking to travel in the next 12 months.
Deposits are also key, with 70% of short-term bookers preferring to pay a deposit to reserve, then pay the rest later.
The ‘big tour study’ covered 1,061 respondents, with 79% aged over 50.
TTC tour brands EMEA managing director Kelly Jackson said: “We strive to create the most knowledgeable and resourceful agent community in the industry and continue to identify ways to better support our partners in their business.
“This comprehensive annual study will continuously demonstrate what the thousands of TTC tour travellers seek in their travel experience and serve as an asset for advisors, arming them with the insights they need to make the sale.
“Beyond knowing the ins-and-outs of each brand and itinerary, understanding traveller sentiment and purchase consideration is crucial information that our agents need in their pockets to personally pair each traveller with the right travel experience for them – from premium to value, luxury or special interest.”
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