Baby Boomers are reinventing retirement by traveling the world according to Virtuoso CEO, Matthew Upchurch. He recently discussed Baby Boomer travel and priorities of the 50+ set in an interview on CNBC’s Squawk Box.

Baby Boomer Travel

“The Boomers were the first generation … that did not see travel as a luxury,” explained Upchurch. “They saw it as a part of their life. They saw it as a right.”

And they are grasping the gold ring with gusto. Adults over 50 spend $150 billion a year on travel, averaging 3.7 trips per year. Baby Boomers account for 80% of all travel spending. They have the money and the time … and the desire.

Baby Boomer Travel Priority: Experiences

There has been a steadily increasing trend with Boomers to spend money on experiences over possessions.

“What we’ve seen over the last 20 years is a huge shift in priorities from the accumulation of stuff to life experiences,” Upchurch said. “Quite frankly a lot of people are focusing on life experiences and travel as being one of the key if not the key conduit for that.”

Baby Boomer travel choices include “trips of a lifetime” such as:

• World cruises of 100+ days, sailing to exotic ports of call
• Luxury safaris to spot the Big Five and engage with indigenous cultures
• Touring Down Under, visiting cosmopolitan Sydney, the Great Barrier Reef and the Red Center
• Active travel of biking or walking while exploring local food and wine
• Volunteering vacations abroad to give back or “pay it forward”

Baby Boomer Travel is a Family Affair

Multi-generational trips are growing in popularity. Vacations with parents, children and grandchildren are a great way to spend quality time together and share those experiences that Boomers so desire. Almost three-quarters (74%) of Virtuoso clients travel with their immediate family, and 17% take trips with extended family members.

Boomers have given the gift of travel to the next generation as well. “Millennials are the children of the Boomers and they’re spending more per diem than the Boomers did,” noted Upchurch.

Covington Travel vacation advisors understand Baby Boomer travel priorities – heck, many of us are Boomers ourselves! Whether you are interested in cruising, touring or independent travel, contact us to help plan your perfect Baby Boomer travel experience.

Source: Virtuoso