This Europe Golden Generation Travel market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Europe Golden Generation Travel market.
Europe’s tourism industry is taking new turns for the past few years. There are two forms of international tourism namely, inbound tourism and outbound tourism. Both these types have a predominant effect on the entire tourism market, not just in Europe but in the entire world. The tourists can be of different mentalities, age groups and religions. Some have more spending capacity and some have comparatively less spending capacity. The term “Golden Generation” refers to the age group of 55 years and above. This group resembles people in their retirement stage, retired people and old people. Outbound tourism is when an individual travels outside his native country, either for vacation or on a business trip. The outbound tourism impacts the economy of a country owing to the spends made by the tourists. The outbound tourism statistics are impacted by the arrivals, overnight stays and the length of stay of tourists.
In 2009, European adults above 20 years of age made about 400 trips abroad. Holiday trips, leisure trips, VFRs and business travels constitute outbound tourism. Almost one-fourth of the entire European outbound market was dominated by Europe’s golden generation in the past. The travel rate of the golden generation was higher than the age group between 15-54 years of age. Also, some of the retired people have the capacity to start small businesses of their own, like in the food and agricultural products sector, owing to which they need to travel across lands in search of vendors and prospects. Some might travel to explore wildlife and birds, visit historical sites and places of high importance or where tragic incidences had occurred that had an impact on humanity, or temples, or experience different lifestyles and methods of living.
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
The increasing holiday travels and VFRs (Visiting Family and Friends) has stimulated the golden generation travel in Europe. The golden generation, especially the retired group of people have better spending capacity than the youth and other age groups. This enables them to travel outside Europe and spend more as per their convenience, thereby increasing the growth rate of the golden generation tourism sector in Europe. The people between 55 and 65 years of age, those who are working, seem to show more activity with respect to business travel, again contributing to the Europe golden generation travel sector. However, holidays play a major role compared to VFRs and business travel in the growth of Europe’s golden generation tourism. Germany and UK regions are the important source destinations for the golden generation travel sector in Europe. Moreover, owing to the technological advancements, it is convenient for the 55+ age group to travel across countries and fulfil their wish. Sightseeing and cultural aspects contribute significantly to golden generation tourism in Europe. Factors such as a growing population, emerging middle class income and higher tourist spending propagate the growth of Europe’s golden generation travel.
Europe’s Golden Generation Travel: Most Visited Regions
The most visited regions by Europe’s golden generation are those with high cultural importance, scenic beauty and historical importance. The regions most visited include France, Spain, Germany and Italy. Other regions are Austria, UK, Turkey, Greece, Portugal, Netherlands, Switzerland, Russia, and Poland.
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An overview of the sector, including the key factors that have shaped patterns and demand
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Nuanced underlying factors that influence consumer behaviour
Data points to understand the past, analyse the present, and project the future
Trends that will impact the sector in the short- and long-term
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