The ageing Asian population has potential to be an extremely lucrative market
for the travel industry, with many companies already targeting the market that
is known for their high disposable incomes, active lifestyles and extra leisure
time.
Abacus International President and CEO Don Birch recently spoke about the
boom in the ‘grey travellers’ market stating, “We’re seeing the emergence of a
new generation of older travellers who are healthy, active, street-wise and have
unprecedented spending power. This is a lucrative segment but one which has
specific needs.”
It is important that the travel sector evaluates and identifies the needs of
“grey travellers” and is able to market their products appropriately. A survey
conducted by ACNielsen titled ‘Life Jugglers and Life Surfers’ showed that more
than 60% of baby boomers are now online and this leads to the opportunity for
the industry to tap into the grey traveller market.
Data obtained by MasterCard Asia Pacific has shown that retired travellers in
the middle income bracket of US$30,000 to US$100,000 are projected to spend
US$23.6 billion by 2014. Countries accounted for included Japan, South Korea,
China, Taiwan, Hong Kong, Singapore, Malaysia, Indonesia, Thailand, the
Philippines, India, Australia and New Zealand.
It was also discussed that the senior travel market spent demanded
exceptional quality and personal service whilst travelling and tended to shy
away from organised tours. Director of Chan Brothers Travel Mr Chong Meng Kee
commented, “We notice that a majority of baby boomers tend to shy away from the
regular organised tours. They want to explore on their own or with friends who
have similar interests. Hence we have special interest packages to make help
them make their vacations a relaxing and memorable one.
All of the above text is a press release provided by the quoted organization.
globalagingtimes.com accepts no responsibility for their accuracy.
