ST. PETERSBURG, Fla., March 9, 2023 /PRNewswire/ — New data reveals a strong return for senior travelers is expected in 2023, a demographic that had been largely dormant in previous years due to the pandemic.
According to travel insurance marketplace squaremouth.com, senior travelers comprised nearly half of all customers in 2019, before dropping to just 16% of travelers in 2020.
Now, Squaremouth’s share of travelers aged 60+ has more than doubled, rising by 125%.
Older Generations Return to Traveling
Travelers ages 60+ account for the largest travel demographic for the first time since the start of the pandemic, reflecting pre-Covid travel trends
Percentage of Travelers Across Age Groups
|
% of Travelers |
||||
|
Age Band |
Dec. 1, 2022 – Jan. 31, 2023 |
Dec. 1, 2021 – Jan. 31, 2022 |
Dec. 1, 2020 – Jan. 31, 2021 |
Dec. 1, 2019 – Jan. 31, 2020 |
|
0 – 34 |
28.12 % |
35.93 % |
40.37 % |
23.22 % |
|
35 – 49 |
19.39 % |
25.69 % |
27.54 % |
15.24 % |
|
50 – 59 |
15.55 % |
16.53 % |
15.64 % |
15.21 % |
|
60+ |
36.93 % |
21.86 % |
16.45 % |
46.32 % |
Older Travelers Concerns Are Changing
As the travel landscape continues to evolve, so do the concerns of travelers.
Seniors remain the most concerned demographic when it comes to contracting Covid-19 while traveling, despite a 21% drop in searches for Covid-related coverage over the past year
Senior travelers search more for policies with medical coverage than any other age demographic
Comparison Of Search Filter Usage Across Age Groups
|
% of All Searches |
||||
|
Filter Name |
60+ |
50-59 |
35-49 |
1-34 |
|
Coronavirus Pandemic |
31.15 % |
28.71 % |
25.57 % |
25.24 % |
|
Emergency Medical |
17.38 % |
14.92 % |
11.74 % |
11.26 % |
|
Medical Evac |
13.96 % |
11.62 % |
8.71 % |
7.86 % |
|
Trip Interruption |
13.83 % |
13.41 % |
10.03 % |
9.77 % |
|
Cancel For Any Reason |
11.68 % |
13.80 % |
13.28 % |
13.00 % |
Methodology: Squaremouth analytics compared travel insurance policy sales for insured trips purchased between Dec. 1 and January 31 from 2019 to 2023, to establish senior travel trends.
About Squaremouth: Squaremouth.com has insured over 3 million travelers. Using Squaremouth’s intuitive quoting and comparison engine, award-winning support team, and verified customer reviews, travelers can save time and money to find the best travel insurance policy for their trip.
Media Contact: Kylie Morgan, [email protected]
SOURCE Squaremouth
