With medical developments helping people to live much longer and people travelling much later in life,there are growing opportunities for the travel industry. Mariam Sharp reports

In 2012 Gatwick airport ran a competition for the oldest traveller which Fauja Singh, 101 years old at the time, won. In receiving the award he said: “One of the most precious things in life to me is being able to see the world and have new experiences and I don’t plan to give up anytime soon so it’s great to see that Gatwick is encouraging others to do the same.”

It seems Gatwick’s move to recognise the importance of travel to the elderly was timeous because today people are living a lot longer. According to the Office of National Statistics, by 2037 one in ten people in parts of the UK will be aged 85 or over. This ‘surge in longevity’ is as, Janet Morrison, Chief Executive of the charity Independent Age puts it “testament to the huge strides we have made, particularly in medical care over the last half century”.

While society certainly faces some challenges in improving health and social care systems as a result, that is good news on more than one front.  

According to recent research from Barclays, over 65s added £37 billion to the UK economy through spending on the hospitality & leisure sector in the last year. This contribution equates to over a third (36%) more than the average consumer and 27% higher than the 35 – 54 year olds, the second biggest spenders.  

However, the research also reveals that the UK’s hospitality and leisure sector missed out on at least a further £16 billion in additional revenues in the past year by underestimating the spending power of the older generation.

And the opportunity is growing. By 2020, elderly travellers and those with a disability are expected to account for nearly a quarter of the UK’s tourism market. “Economically, its an enormous potential market and one that is really under serviced,” Accessibility expert Bill Forrester is reported saying.

But it’s not just the UK. Emerging countries are also moving towards an ageing demographic. For example, the population of the affluent elderly in the India is expected to touch 50 million by 2020. Thomas Cook (India) launched 'Silver Brakes’ last October for those over 60 years of age and the response has been "very good", according to Managing Director Madhavan Menon.

Niche markets and marketing opportunities

Earlier this year, EyeforTravel predicted a growing trend towards people travelling to learn rather than to escape. Older travellers often have a developed sense of history and tradition and are curious; they love to learn. As one example, Road Scholar, previously known as Elder Hostel, builds in-depth lectures, field trips with experts, creative workshops, and interactions with locals into the daily schedule of tours.

Rising numbers of older travellers are also looking for adventure. But while most travellers want to see as much as possible, the pace and scope of a tour for older travellers requires consideration. Elder tracks, which was established in 1987, is one offers off-the-beaten-path, small-group adventures on both land and sea in over 100 countries.

Brands are also using age-related issues as a way to raise awareness of their brand. Scottish holiday let company Cottages & Castles is, for example, offering free luxury breaks across Scotland for those affected by dementia and their families. Over 35 holiday lets have been offered to Alzheimer Scotland, by property owners registered with the company, which said it would also cover additional holiday expenses. While this is an exercise in corportate social responsibility, the firm is probably also hoping that it’s goodwill, and word-of-mouth, will need to a rise in bookings. 

On a final note, here are three ways that the travel sector could address ageing: 

• Improve offers to elderly travellers, such as provision of fairer insurance products. According to Travel Supermarket an 80-year-old could pay between £86 and £632, compared to £17.28 for a 50-year-old for the same trip to the US. In addition, many standard insurance providers have an age cap, which means that travellers over 65 are turned away, regardless of their lifestyle profile. Club direct sells policies to those up to the age of 79, and Saga has no cap at all, and a number of websites are focused on this market.
   
• Rethink products and accessibility of accommodation, transportation, itineraries, special diets, and luggage management. This could prove to be a worthy exercise because it not only benefits older travellers but also pregnant women and those with temporarily restricted capacities, such as children and families.
   
• Offer support to help employees in their roles as carers.