Boomers beating millennials in travel spend

Published September 2018 Analyst: Phocuswright Research

 

While baby boomers (ages 54-72) may no longer be the largest demographic in the U.S. (that distinction now belongs to millennials), they have more disposable income and more time to spend on travel than any other generation. These qualities, along with their strong appetite for new experiences, make boomers an attractive segment for a range of travel marketers.

Phocuswright Chart: Average Annual Spend on Travel Components by Generation
(Click image to view a larger version.)

Boomers have been a consistent traveling demographic that is more likely to value travel over a number of other discretionary purchases compared to millennials. Sixty-six percent of U.S. boomers took at least one leisure trip in 2017, the highest percentage in the last five years. As more boomers retired from 2015 to 2017, they spent more consistently and traveled just as frequently than younger generations in that same time period.

Phocuswright's latest travel research report, U.S. Boomers 2018: Travel Planning, Preferences & Behavior, addresses key habits that travel marketers should be aware of:

  • Boomers' travel frequency, spend and duration
  • Planning and booking tools
  • Accommodation preferences
  • Smartphone usage for planning, booking and while in-destination

To access Phocuswright's U.S. Boomers 2018 report, purchase it now or subscribe your entire company to Open Access.