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.
Europe’s Golden Generation Travel: Motivational Factors
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.
This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.
The report offers a 360° view – bringing to the fore key drivers, restraints, opportunities, and challenges prevailing in the sector. To offer readers actionable insights, detailed information on historical trends, current scenario, and future projections is provided in the report.
The report specifically focusses on the leading companies operating in this sector, highlighting their key developmental strategies. A holistic analysis of the leading players is highlighted to help decision makers understand the overall competitive landscape.
What Can Readers Expect from this Report?
- An overview of the sector, including the key factors that have shaped patterns and demand
- Not just data, but insights that you can incorporate in your strategic decision making
- 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
- Deeper understanding of the target audience, their motivations, aspirations, and expectations from service providers
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Europe Golden Generation Travel
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Europe Golden Generation Travel report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Europe Golden Generation Travel. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Europe Golden Generation Travel report?
In addition to up-to-date market figures and customized of the Europe Golden Generation Travel, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.