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Third Age Holidays - UK

DateOct, 2006
Pages85
Price / format$1795 / Online Download
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Abstract:
The Third Age Market has been heralded as a golden opportunity for the travel industry, and in particular, for the agents and operators seeking to compete with the rapidly expanding independent and self-packaging segments. The Third Age is set to exhibit the strongest growth of all demographic segments in the next five years, generating a group representing over one-quarter of the total population. These 45-64 year olds are the original post-war holidaymakers, relatively rich in travel experience, blessed with free time and often savings to spend on holidays and regular or extensive travel.

Largely liberated from their children this group have unprecedented freedom, but the questions are manifold: do they seek regular reassurance and comfort, or new experiences, and, with whom? However, many of the Third Age group have become well versed in self-packaging, as well as internet research and booking and as such they are hardly sitting ducks for operators seeking to sell shoulder season holidays.

In this report, Mintel investigates the propensity of this segment to take holidays, asking how adventurous - or how cautious - they have become.



Table of contents:
ISSUES IN THE MARKET
ABBREVIATIONS


MARKET IN BRIEF
Fly Generation
Average Joes
Younger at heart
Kid’s gloves
Comfortably adventurous
The third age: ‘me time’ and ‘us time’


INTERNAL MARKET ENVIRONMENT
Overseas on the up
Figure 1: Domestic and overseas holiday volume, 2001-06
Spend, spend, spend
Figure 2: Overseas holidays and expenditure, at constant and current prices, 2000-06
Non-EU Europe lead the way
Figure 3: Outbound holiday visits, by region visited, 2000-05
Internet penetration
Figure 4: Internet penetration, by gender, socio-economic group and age, Jan 2001-Jan 2006
Third age demographics
Figure 5: Demographic profile of adults aged 15+ and all third age, 2006

BROADER MARKET ENVIRONMENT
Favourable economy for the liberated third age
Figure 6: Trends in personal disposable income and consumer expenditure, 2001-11
A younger shade of grey
Figure 7: Trends in the age structure of the UK population, by gender, 2001-11
AB growth still good
Figure 8: Forecast adult population trends, by socio-economic group, 2001-11
Third age: a growth market
Figure 9: Forecast adult population trends, by socio-economic group, 2001-11

COMPETITIVE CONTEXT
Figure 10: Domestic and overseas holiday growth, 2001-06

STRENGTHS AND WEAKNESSES IN THE MARKET
Strengths
Weaknesses


MARKET SIZE AND FORECAST
Figure 11: Domestic and overseas holidays and expenditure by 45-64-year-olds, 2001-11
Mintel foresight


SEGMENT PERFORMANCE
Who goes where?
Figure 12: UK holiday visits by country of destination, 2005
Big spenders
Figure 13: UK holiday spending by country of destination, 2005
Most frequent travellers
Figure 14: Holidays taken in the last 12 months, 2004-06
The long and short
Figure 15: Number of nights spent away from home for last/last but one holiday, 2002-06
Avoiding the masses
Figure 16: Month last/last-but-one holiday began, 2002-06

COMPANIES AND PRODUCTS
Saga Group
WA Shearings
First Choice Holidays
Thomas Cook
Thomson Holidays
Cosmos
Gap Year for Grown Ups
Ski Club of Great Britain


CHANNELS TO MARKET
Source of booking
Figure 17: How booked last/last but one holiday, 2002-06
BOOKING: METHOD
Figure 18: Booking method used for last/last but one holiday, 2004-06

THIRD AGE - IS IT THE TIME TO TRAVEL?
Incidence of third age holidays
Figure 19: Holiday taken in the last 12 months, 2002-06
Third age trips by demographics
Figure 20: Holiday taken in the last 12 months, all third age, by demographic sub-group, 2006
Frequency of third age holidays by demographics
Figure 21: Number of third age holidays taken in the last 12 months, by demographic sub-group, 2006

THIRD AGE HOLIDAYS TAKEN - WHERE AND WHEN?
EUROPE IS OUR PLAYGROUND
Figure 22: Location of last/last but one holiday, 2002-06
Destination by demographics
Figure 23: Location of last/last but one holiday, all third age, by demographic sub-group, 2006
RTW/BACKPACKING
Attitudes towards round the world travel
Figure 24: Experience of and attitudes towards round-the-world travel, by detailed lifestage group, February 2006
Round-the-world trips taken
Figure 25: Type of round-the-world trips taken, by detailed lifestage group, February 2006
Backpacking
Figure 26: Backpacking trips taken, by detailed lifestage groups, February 2006
Figure 27: Types of backpacking trips taken, by detailed lifestage group, February 2006
CITY AND SHORT BREAKS
Figure 28: Countries visited for a city break in the past three years by detailed lifestage, February 2006
Figure 29: Countries visited for a short break in the past three years by detailed lifestage, February 2006
Attitudes towards city and short breaks
Figure 30: Attitudes towards city and short breaks abroad, by detailed lifestage, February 2006
TYPE OF HOLIDAY TAKEN
Figure 31: Type of holiday taken for last/last but one holiday, 2002-06
Holidays taken by demographics
Figure 32: Most popular types of holiday taken for last/last but one holiday, by demographic sub-group, 2006

THIRD AGE BOOKING PREFERENCES
RESEARCH
Figure 33: Sources used to get information on last/last but one holiday, 2003-06
Websites used for research
Figure 34: Most popular websites visited in the past 12 months to research travel plans by detailed lifestage, December 2005
BOOKING
Booking method by demographics
Figure 35: Booking method used for last/last but one holiday, by demographic sub-group, 2006
Websites used for booking
Figure 36: Most popular websites visited in the past 12 months for booking travel, by detailed lifestage, December 2005
Figure 37: Most popular attitudes towards online travel, by detailed demographics, December 2005
DETAILED DEMOGRAPHICS
Holiday research
Figure 38: Sources of information on last/last but one holiday, by demographic sub-group, 2006
Holiday booking source
Figure 39: How booked last/last but one holiday, by demographic sub-group, 2006
Figure 40: How booked last/last but one holiday, by demographic sub-group, 2006

THIRD AGE - INDEPENDENT VERSUS INCLUSIVE TOURS
INCLUSIVE TOURS = REASSURANCE AND QUALITY
Figure 41: Inclusive holidays taken in the past 12 months, by detailed lifestage and age of children, June 2006
Attitudes towards package holidays
Figure 42: Most popular attitudes towards package holidays by detailed lifestage and age of children, June 2006
GROWN UP ‘INDIE KIDS’
Figure 43: Independent holidays taken in the past 12 months by detailed lifestage, June 2006
Attitudes towards independent holidays
Figure 44: Most popular attitudes towards independent holidays by detailed lifestage, June 2006

THIRD AGE - TRANSPORT AND ACCOMMODATION
AIR TRAVEL
Figure 45: Air travel in the last 12 months (for business, holiday or personal reasons), 2002-06
CAR HIRE: THE GREAT ESCAPE
Positive attitudes
Figure 46: Positive attitudes towards car hire in the past 12 months by detailed lifestage, September 2005
Negative attitudes
Figure 47: Negative attitudes towards car hire in the past 12 months, by detailed lifestage, September 2005
UK HOTEL STAYS
Figure 48: Stayed at hotel in Britain in the last 12 months (for business, holiday or pleasure), 2002-06
Hotel stays by demographics
Figure 49: Third age stays at hotels in Britain in the last 12 months (for business, holiday or pleasure), by demographics, 2006
Figure 50: Frequency of staying at hotels in Britain in the last 12 months, 2002-06
Air travel
Figure 51: Air travel in the last 12 months (for business, holiday or personal reasons), by demographic subgroup, 2006
Car hire organisation
Figure 52: Attitudes towards car hire organisation in the past 12 months, by detailed lifestage, September 2005

APPENDIX: RESEARCH METHODOLOGY





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