More holidays for the older generation

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Travel

A study by the Centre for Economic and Business Research (CEBR) consultancy for UK-based over-50s insurer Saga has found that people aged 50 and over are spending more and more on holidays, while younger people are travelling less.

According to the research, the older generation has increased spending on travel by 23 per cent and is now responsible for more than half of the UK’s total spending on holidays. The study found that those aged 50 and over spent £39 billion on travel last year, including £2.8 billion on cruises.

These trends may be related to the financial crisis, which, according to the Institute for Fiscal Studies, was responsible for a fall in income for younger people and a higher standard of living for people aged over 60.