Pension holders 'opting for retirement travel'
30/06/2009
Topic: Already retired, Investments, Pensions
A number of people are using their retirement years to see more of the world thanks to their large disposable incomes, a marketing specialist suggests.
According to the Chartered Institute of Marketing (CIM), people over the age of 60 could provide a new key market for holiday companies because of the spare cash many of them possess.
Ray Jones, Head of Communications at the group, said that people who are not working full-time hours are able to go on holiday during off-peak times because of their more flexible lifestyles.
He commented: "There is still a big chunk of market with the over-60s who have their mortgage paid off and with their savings not making much money, they are thinking 'we might as well travel'".
Figures from the travel and marketing agency Arena BLM show that 33% of consumers have reduced their spending on foreign holidays over the past three months due to the current economic climate.
According to the Chartered Institute of Marketing (CIM), people over the age of 60 could provide a new key market for holiday companies because of the spare cash many of them possess.
Ray Jones, Head of Communications at the group, said that people who are not working full-time hours are able to go on holiday during off-peak times because of their more flexible lifestyles.
He commented: "There is still a big chunk of market with the over-60s who have their mortgage paid off and with their savings not making much money, they are thinking 'we might as well travel'".
Figures from the travel and marketing agency Arena BLM show that 33% of consumers have reduced their spending on foreign holidays over the past three months due to the current economic climate.
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