TravelGeneral InformationOver 60s "not prepared to sacrifice holidays - despite credit crunch" Over 60s "not prepared to sacrifice holidays - despite credit crunch"
19/11/2008
Not all older people are cutting back on holidays despite the credit crunch according to a new study out today.
According to a poll by Intune, the financial products and services provider set up and owned by Help the Aged, 80% of respondents aged over 60 are still taking at least two foreign holidays a year, while nearly one in six enjoy more than four trips abroad.
Stuart Castledine, Managing Director of Intune said the findings highlight that many older consumers are not prepared to sacrifice their holidays once they retire. “Nearly half of respondents surveyed said they regretted not travelling more when they were younger with 52% citing cost as the main reason and 19% saying they were too busy. Now they have the time and often the money to go on holiday they are determined to enjoy as many trips away as possible during their retirement.
“However, many companies make it more difficult for older people to go on holiday by imposing an upper age limit on their travel insurance products. Intune provides single trip and annual insurance policies for travel in Europe or across the world. The policies have no upper age limit and pre-existing conditions may be covered,” he added.
The survey revealed that twice as many respondents (64%) now take out annual travel insurance to enable them to take multiple trips during the 12 months of the policy compared to 31% who opt for single trip policies.
Josie Hepple is a prime example of the survey’s findings. The sixty-nine year old recently returned from a short break in Rome, her sixth trip abroad this year. The retired teacher, who decided to make travelling a priority after the loss of her husband two years ago, said:
“I have the time to shop around for the best deals on the internet and don’t have to book during peak times, so holidays are cheaper. I love travelling and have already planned trips to New York and Italy next year. I certainly won’t be cutting back on holidays in the future.”
The poll also found that while 52% choose beach holidays and 36% book cruises, city breaks in the UK and abroad are also popular choices for the over 60s.
Further results show that more than half (60%) travel with their spouse or partner while nearly one in ten (9%) choose to holiday with their families and grandchildren. Autumn is the most popular season for going away with 34% of over 60s preferring this time compared to 25% who choose summer breaks.