The pandemic has possibly created a new trend for seniors--springtime trips are seeing a boom.
Travel insurance aggregator Squaremouth.com analyzed sales data for trips in March and April booked by baby boomers (born 1946-1964) and the silent generation (born 1945 or before) and found that they are spending more on trips and are the top age group booking trips.
Key Takeaways
Squaremouth.com's research showed that travelers born before 1965 are spending more this spring break compared to pre-pandemic years. This year, travelers are insuring trips that are 5 percent more expensive than in 2019 and 12 percent more expensive than trips taken in 2021.
The average trip cost per traveler is $2,943.14 for baby boomers and $3,053.06 for the silent generation in 2022.
Baby boomers have now reclaimed the spot as the top traveling age group. Gen-Xers briefly surpassed Baby Boomers during the pandemic, but have once again been overshadowed by their older counterparts. Baby boomers currently make up 28 percent of sales for spring break trips, versus 20 percent of trip sales during the same time in 2021.
Cruises continue to be popular for older travelers. More Baby boomers have indicated they are cruising this spring break than any other demographic.
The research also revealed that seniors are taking up a smaller share of the travel insurance market. The Squaremout.com data found that senior travelers are taking up a smaller share of the travel insurance market this spring break than in years prior to COVID-19. n 2019, more than half of insured travelers during March and April were in the "senior" age ranges (56 percent). This year, that percentage has dropped to roughly 30 percent.
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