Dublin, Oct. 22, 2024 (GLOBE NEWSWIRE) -- The "Silver Tourism Market Size, Share and Trends Analysis Report by Type, Gender (Male, Female), Age Group, Category (Solo, Group), Destination, Booking Mode, and Region 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The global silver tourism market is anticipated to reach USD 4.37 billion by 2030 and is projected to grow at a CAGR of 14.4% from 2024 to 2030.
The rise in solo travel among seniors is driving the adoption of the global market. Many older adults increasingly choose to travel alone, seeking independence to explore destinations at their own pace. This trend is supported by the growing number of travel options and resources designed specifically for solo travelers, such as guided tours with small groups, single-occupancy accommodations, and personalized itineraries. The need for self-discovery, personal growth, and the flexibility to customize travel experiences contributes to the development of the market. Travel providers are responding to this trend by offering more solo-friendly travel packages and services that cater to the needs of independent older travelers.
The increasing availability of tailored travel insurance products for older adults drives market growth. Travel is more accessible to seniors, and the need for comprehensive and specialized travel insurance has grown. Travel insurance providers offer policies specifically designed for older travelers, covering aspects such as pre-existing medical conditions, trip cancellations, and emergency medical care. The availability of these tailored insurance products allows seniors to travel and address their specific concerns. The growth of tailored travel insurance options is a key driver of the market growth, supporting the overall growth and accessibility of travel for older adults.
The demand for customized and niche travel packages drives the market growth. Older adults often have specific preferences and requirements for their travel experiences, increasing interest in personalized travel options. It includes tailored itineraries, special interest tours, and accommodations that meet particular needs, such as accessibility features or dietary requirements. The availability of customized and niche travel options is a significant driver, giving seniors more control over their travel experiences.
Silver Tourism Market Report Highlights
- Based on type, the beach honeymoon tours segment led the market with the largest revenue share of 23.5% in 2023. The rise of tailored and experiential travel also contributes to the growth of the beach tours segment. Beach tours that offer curated experiences, such as guided coastal excursions, cultural activities, and local cuisine tastings, cater to the silver-age demographic
- Based on gender, the male segment is expected to witness at the fastest CAGR during the forecast period. The increasing focus on active and adventure-oriented travel among older men is driving the adoption of the market. Adventure-oriented travel activities include hiking, golfing, fishing, and exploring nature
- Based on age group, the 60 - 70 years segment accounted for the largest revenue share in 2023. Intergenerational travel is another important driver for the 60-70 years segment. Many older adults increasingly travel with family members, including children and grandchildren, to create shared experiences
- Based on category, the group segment is expected to witness at the fastest CAGR during the forecast period. Tailored experiences and specialized itineraries are important drivers for the group segment. Group tours that offer specialized themes, such as cultural exploration, historical tours, or nature excursions, cater to these interests
- Based on destination, the domestic segment accounted with the largest revenue share in 2023. The growth of local tourism initiatives and community-focused travel experiences drives domestic segment growth. Community-based tourism experiences such as visits to local markets, cultural festivals, and small towns allow older travelers to engage with and support local communities
- Based on booking mode, the direct booking segment is expected to witness at the fastest CAGR during the forecast period. Direct booking enables older travelers to avoid additional fees or commissions that third-party booking platforms may charge. By booking directly with the provider, travelers save on these extra costs and ensure their budget is used efficiently
- Asia Pacific dominated the market with the largest revenue share of 31.6% share in 2023. The rise of domestic travel within the region drives the market growth. Domestic travel allows travelers to explore local destinations and regional cuisines, and engage in culturally relevant experiences without international travel logistics
The leading players in the Silver Tourism market include:
- SOTC Travel
- Intrepid Travel
- Thomas Cook India Group
- China Tourism Group Duty Free
- Kesari Tours Pvt Ltd.
- Flight Centre Travel Group
- Trip.com Travel Singapore
- Expedia
- MakeMyTrip
- Liberty Travel
- Collette Travel Service
- Tauck
- Abercrombie & Kent USA
- Travel Leaders
- Yatra Online
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot
Chapter 3. Silver Tourism Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.4. Industry Analysis Tools
3.5. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
4.1. Demographic Analysis
4.2. Consumer Trends & Preferences
4.3. Factors Influencing Buying Decisions
4.4. Consumer Product Adoption Trends
4.5. Observations & Recommendations
Chapter 5. Silver Tourism Market: Type Estimates & Trend Analysis
5.1. Type Movement Analysis & Market Share, 2023 & 2030
5.2. Silver Tourism Market Estimates & Forecast, By Type, 2018 to 2030 (USD Billion)
5.2.1. Beach Tours
5.2.2. Cruise Tours
5.2.3. Historic and Cultural Tours
5.2.4. Adventure Tours
5.2.5. Wellness Retreats
5.2.6. Nature and Wildlife Tours
5.2.7. Others
Chapter 6. Silver Tourism Market: Gender Estimates & Trend Analysis
6.1. Gender Movement Analysis & Market Share, 2023 & 2030
6.2. Silver Tourism Market Estimates & Forecast, By Gender, 2018 to 2030 (USD Billion)
6.2.1. Male
6.2.2. Female
Chapter 7. Silver Tourism Market: Age Group Estimates & Trend Analysis
7.1. Age Group Movement Analysis & Market Share, 2023 & 2030
7.2. Silver Tourism Market Estimates & Forecast, By Age Group, 2018 to 2030 (USD Billion)
7.2.1. 50 - 60 Years
7.2.2. 60 - 70 Years
7.2.3. Above 70 Years
Chapter 8. Silver Tourism Market: Category Estimates & Trend Analysis
8.1. Category Movement Analysis & Market Share, 2023 & 2030
8.2. Silver Tourism Market Estimates & Forecast, By Category, 2018 to 2030 (USD Billion)
8.2.1. Solo
8.2.2. Group
Chapter 9. Silver Tourism Market: Destination Estimates & Trend Analysis
9.1. Destination Movement Analysis & Market Share, 2023 & 2030
9.2. Silver Tourism Market Estimates & Forecast, By Destination, 2018 to 2030 (USD Billion)
9.2.1. Domestic
9.2.2. International
Chapter 10. Silver Tourism Market: Booking Mode Estimates & Trend Analysis
10.1. Booking Mode Movement Analysis & Market Share, 2023 & 2030
10.2. Silver Tourism Market Estimates & Forecast, By Booking Mode, 2018 to 2030 (USD Billion)
10.2.1. Travel Agency/Agents
10.2.2. Direct Booking
Chapter 11. Silver Tourism Market: Regional Estimates & Trend Analysis
11.1. Regional Movement Analysis & Market Share, 2023 & 2030
Chapter 12. Silver Tourism Market - Competitive Landscape
12.1. Recent Developments & Impact Analysis by Key Market Participants
12.2. Company Categorization
12.3. Company Market Positioning
12.4. Company Market Share Analysis
12.5. Company Heat Map Analysis
12.6. Strategy Mapping
12.7. Company Profiles
- SOTC Travel
- Intrepid Travel
- Thomas Cook India Group
- China Tourism Group Duty Free
- Kesari Tours Pvt Ltd.
- Flight Centre Travel Group
- Trip.com Travel Singapore
- Expedia, Inc.
- MakeMyTrip
- Liberty Travel
- Collette Travel Service
- Tauck
- Abercrombie & Kent USA
- Travel Leaders
- Yatra Online
For more information about this report visit https://www.researchandmarkets.com/r/ipsxzp
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