According to research by Australian Seniors, in partnership with consumer research group CoreData, nearly three-quarters (74%) of over 50s are already planning their next big holidays – but their outlook on travel has changed.
The Travel Trends Report 2022 surveyed over 1,000 Australians over 50 and found that factors such as the pandemic, ongoing international conflicts, effects of climate change, and widespread uncertainty have altered travel patterns and preferences.
The rising cost of living has also impacted seniors’ return to domestic and international travel, with the vast majority (80%) feeling travel is becoming more difficult to afford these days.
In order to fund their next holiday, a large portion admitted to emptying out their savings (86%), spending the kid’s inheritance (14%), drawing down on super (10%) or taking on credit cards or personal loans (9%).
While Australians could be using their accumulated travel credits to help curb the cost of travelling during this time, the report found that nearly four in 10 Australians say they are difficult or confusing to use.
With the cost of living pressures continuing to rise, most seniors (90%) also don’t’ feel comfortable to travel abroad without travel insurance.
The data suggests that the majority (74%) of Australian seniors are wary of visiting Eastern Europe due to threats of the war in Ukraine, as well as to Turkey and the Middle East due to ongoing conflict and terrorism (64%).
Nearly two-thirds (63%) have similar concerns about travelling to Hong Kong, China, and South Korea due to ongoing COVID-19 health orders and lockdown measures in those regions.
Many seniors (66%) have waited three years or more since their last big holiday, with nearly a third (29%) planning a European getaway in 2022 - topping the list as the most popular destination.
As more than half (54%) remain mindful of COVID-19 related risks, travelling interstate to Australian destinations follows closely in second (23%), with more than a third (36%) more likely to consider travelling around Australia now than two years ago.
Associate Professor in Tourism at the University of Queensland Gabby Walters said this is great news for the Australian tourism sector.
"Regional and coastal tourism locations that can continue to expect steady visitation from the seniors market, as traveling domestically presents significantly less risk and more certainty around travel planning for seniors," Ms Walters said.
"Traveling to overseas destinations at the current time requires a lot more planning and preparation compared to pre COVID times.
"There is also uncertainty in relation to foreign COVID related policies and travel restrictions, access to medical treatment if required and many foreign countries are still very much in recovery mode."
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| At Maturity | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 5000 | $product[$field["value"]] | $product[$field["value"]] | More details | ||||||
| FEATURED | Term Deposit - 6 months
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Term Deposit - 6 months
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| At Maturity, Annually | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 1000 | 1 | $product[$field["value"]] | $product[$field["value"]] | More details | |||||
| FEATURED | Term Deposit - 7 months
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Term Deposit - 7 months
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| At Maturity, Annually | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 5000 | $product[$field["value"]] | $product[$field["value"]] | More details | ||||||
Term Deposit - 6 months
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Term Deposit - 6 months
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| Annually, Semi-Annually, At Maturity, Monthly | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 5000 | $product[$field["value"]] | $product[$field["value"]] | More details | ||||||
Term Deposit - 6 months | |||||||||||||
| At Maturity | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 25000 | $product[$field["value"]] | $product[$field["value"]] | More details | ||||||
Term Investment ($25k-$100k) - 6 months | |||||||||||||
| At Maturity, Annually | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 5000 | 31 | $product[$field["value"]] | $product[$field["value"]] | More details | |||||
TDs Premier Investment ($5k - $250k) - 6 months | |||||||||||||
| Annually, At Maturity | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 5000 | 31 | $product[$field["value"]] | $product[$field["value"]] | More details | |||||
Term Deposit ($5000-$999999) - 6 months | |||||||||||||
| Annually, At Maturity | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 250000 | 31 | $product[$field["value"]] | $product[$field["value"]] | More details | |||||
Term Deposit ($250k+) - 6 Months | |||||||||||||
| At Maturity, Annually | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 1000 | 31 | $product[$field["value"]] | $product[$field["value"]] | More details | |||||
Term Deposit ($1000+) - 6 months | |||||||||||||
| Annually, At Maturity | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 1000 | 31 | $product[$field["value"]] | $product[$field["value"]] | More details | |||||
Term Deposit ($1000+) - 6 months | |||||||||||||
| Annually, At Maturity, Monthly | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 10000 | 31 | $product[$field["value"]] | $product[$field["value"]] | More details | |||||
Term Deposit ($10000+) - 6 months | |||||||||||||
| Annually, At Maturity | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 10000 | 31 | $product[$field["value"]] | $product[$field["value"]] | More details | |||||
Term Deposit - 6 months | |||||||||||||
| Annually, At Maturity | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 5000 | 7 | $product[$field["value"]] | $product[$field["value"]] | More details | |||||
Term Deposit - 6 Months | |||||||||||||
| Annually, At Maturity | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 1000 | 31 | $product[$field["value"]] | $product[$field["value"]] | More details | |||||
Term Deposit - 6 months | |||||||||||||
| At Maturity | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 5000 | 31 | $product[$field["value"]] | $product[$field["value"]] | More details | |||||
Term Deposit - 6 months | |||||||||||||
| At Maturity, Annually | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 25000 | 31 | $product[$field["value"]] | $product[$field["value"]] | More details | |||||
Term Deposit ($25k-$5m) - 6 months | |||||||||||||
| At Maturity, Annually | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 500000 | $product[$field["value"]] | $product[$field["value"]] | More details | ||||||
Fixed Term Deposit ($500000+) - 6 months | |||||||||||||
| At Maturity, Annually | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 1000 | 7 | $product[$field["value"]] | $product[$field["value"]] | More details | |||||
Term Deposit ($1k-$1m) - 6 months | |||||||||||||
| At Maturity, Annually | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 250000 | $product[$field["value"]] | $product[$field["value"]] | More details | ||||||
Fixed Term Deposit ($250000-$500000) - 6 months | |||||||||||||
| Annually, At Maturity | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 500 | 31 | $product[$field["value"]] | $product[$field["value"]] | More details | |||||
Term Deposit ($500-$19999) - 6 months | |||||||||||||
- Easy online application
- Interest can be paid to other institutions
- Maturity alert by email and phone
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Harry O'Sullivan
William Jolly
