Seniors Market

The booming seniors market presents a great opportunity for expanding the domestic tourism market, while other segments are experiencing slow growth.

‘Not over the hill. Just enjoying the view.’

Research included in the report Not over the hill: Just enjoying the view (published 1999) clearly shows that there is no need to create a desire for travel within the seniors market - they have the time, discretionary income, and inclination to travel. This report summarises the most extensive seniors market research conducted in Australia.

The booming seniors market presents a great opportunity for expanding the domestic tourism market, while other segments are experiencing slow growth.

Selecting a destination then becomes a key decision. More seniors will travel in Australia if domestic products are developed and marketed to them.

The Not over the hill report provided information on what seniors want, how they want it and how tourism businesses can position themselves to benefit from this vital, growing market.

The report profiled the seniors market in detail and examined its growth potential in relation to accommodation, transport, motoring, leisure, hospitality, tours, travel agents and the promotion of tourism products. Not over the hill was based on months of extensive research facilitated by Seniors Card offices around Australia in collaboration with members of the tourism industry.

As the following facts indicate, the outlook for seniors tourism is anything but grey.

Some highlights from the report:

Australia's 2.9 million seniors (aged 60 plus) spend $986 million on domestic travel annually.
75 per cent of seniors travelled in 1997.
80 per cent of seniors want to travel now, or in the near future.
The seniors market is the fastest-growing population group.
Seniors spend more time travelling than younger age groups.
Seniors' discretionary income accounts for a greater percentage of their disposable income than other markets as they have significantly fewer outgoing expenses. For example, most have paid off their mortgage and have no dependents.
Seniors spend a greater percentage of their discretionary income on travelling than any other market segment. While younger age groups have higher income levels, a larger percentage is spent on consumer goods and accumulating assets than on travel.
Seniors are enjoying better health than previous generations, resulting in increased life expectancies and more time to travel. Nearly 70 per cent of seniors reported feeling in good to excellent health.
Seniors actively seek new experiences and see travel as offering this.
Most seniors prefer to travel during off-peak periods, offering a possible solution to seasonal fluctuations.
Businesses who adapt their products and services to meet the needs of seniors will also be more attractive to the thousands of foreign seniors who visit Australia each year. Australia's primary offshore tourism markets also happen to have the largest, fastest-growing over-60s populations in the world - a trend that will only escalate.
Tomorrow's seniors will have enjoyed more regular travel throughout their life than older generations and will undoubtedly maintain this "lifestyle priority" in retirement.

A summary report of ‘Not over the Hill. Just enjoying the view’ is available free of charge from:

Seniors Tourism Scheme
GPO Box 2491
Brisbane QLD 4001
Australia
Phone: 61 7 3224 2788
Fax: 61 7 3405 6444