While younger generations are helping fuel the recent boom in free independent travellers (FITs) roaming the globe, silver travellers are still making their mark on tourism, travel, and hospitality the world over.
The topic of silver travellers is important enough in terms of tourism and hospitality economics to be discussed at such events as our own TDM C-Suite Travel Trade Global Summit and ITB China 2025, prompting international experts to cite the contribution of ageing travellers to the world economy by booking flights, tours, cruises, and even hotel stays.
Indeed, several reports from the likes of Grand View Research and BusinessWire point out that the older traveller segment is currently worth US$1.72 trillion as of end-2024 and will be worth around US$2.62 trillion by the end of the current decade.
With regard to 2025, Grand View Research forecasts that the silver traveller market will be worth around US$1.84 trillion by the end of this year.
From cabin fever to globetrotting
As stated above, the silver travellers segment is now worth nearly US$2 billion and is growing at a compound annual growth rate (CAGR) of 7.3 percent.
According to a BusinessWire report released on 14th March of this year, the current demand for travel among older generations is primarily driven from the cabin fever many experienced during the pandemic years or, on a more sombre note, the need to get over losses encountered during the same period.
Likewise, those who hit their 60s towards the end of the pandemic are looking for a well-deserved break following almost a lifetime of work, and this particular sub-segment has a significant amount of disposable income in the form of pensions and practically all the time in the world.
As a result, experts have noted higher spending patterns among travellers over the age of 50, and this has led to a number of travel businesses and destinations setting up relevant infrastructure for their specific use and comfort.
Why the elderly choose to travel
It shouldn’t be surprising that staying healthy is one of the biggest reasons why many travellers over the age of 55 are booking trips.
Per several reports, wellness tourism got the lion’s share of sectoral revenues as of end-2024, contributing 34.3 percent of the silver market’s total earnings for the year.
This substantial growth was driven by the elderly’s need to safeguard their health and wellbeing through specialised treatments offered in locations like Bali, Phuket, Portugal’s Duoro Valley, and Tenerife in Spain.
The influx of wellness travellers, as mentioned above, has led to the development of related infrastructure, both new properties and fresh amenities offered by existing establishments.
Which region’s seniors are doing the most travelling?
Both the BusinessWire and Grand View Research reports show that the bulk of the world’s travelling seniors are from the Asia Pacific and over-60s from the region made up 54.9 percent of the total market in the past year.
This is easily attributed to the larger number of older citizens, particularly in East Asia and in Singapore, who have significant spending power and are still spry enough to see the world beyond home borders.
Asia-Pacific seniors also do the most in terms of domestic travel, given how nations like China, Japan, South Korea, and Taiwan are known for the variety of cultural attractions, heritage sites, and wellness retreats they offer.
In terms of growth, the couples segment stands to grow fastest between now and 2030, as older couples are free from both professional and personal obligations, enabling them to build a deeper appreciation and affection within their relationship bonds throughout their golden years.
At the same time, the availability of ample time and substantial financial resources empowers these couples to cultivate their relationships and embark on enriching travel experiences.
Such elements significantly contribute to this segment's notable growth and prominence within the broader travel market.
Other key demographics
While not too old, travellers between the ages of 50 and 60 formed the largest segment in the market in terms of age, proof that those just stepping into retirement seek to experience more of the world before they get too old to travel.
Travellers belonging to this segment want experiences that seamlessly combine luxury, adventure, and wellness in their itineraries, as well as those that offer entry to multiple destinations on a single trip.
In terms of growth, the couples segment stands to grow fastest between now and 2030, as older couples are free from both professional and personal obligations, enabling them to build a deeper appreciation and affection within their relationship bonds throughout their golden years.
At the same time, the availability of ample time and substantial financial resources empowers these couples to cultivate their relationships and embark on enriching travel experiences.
Such elements significantly contribute to the couples segment's notable growth and prominence within the broader travel market.
