Golden age generation get set to travel the globe

Today’s over 50s generation could become some of the nation’s biggest globetrotters, with nearly 11 million people aged 50+ planning on travelling more regularly over the next five to ten years, according to new research from Alliance & Leicester.

The research, which identified the goals and ambitions of the UK’s 50 plus generation, shows that travel is at the top of their agendas, with over half (54%) wanting to travel more regularly and to long-haul destinations and a further fifth (22%) wanting to go on a once in a lifetime holiday in the next decade. In fact, travel even takes priority over spending more time with friends and family (48%), getting fit (37%), and finding a healthier way of life (31%).

Over 2 million (11%) of those aged 50 and over plan on travelling on their own, whilst a more conventional bunch plan on seeing the sites of the world with their partner (77%) or with friends (26%). Australia and New Zealand are top of the list of travel hotspots, with over a quarter (26%) wanting to visit down under, followed by countries in Europe (21%) and the USA (9%). And whilst some plan on seeing more of the homeland (8%), people in their 50s and over also want to venture to places as far afield as China, Africa, Russia and the Antarctic.

Alongside the appetite to travel, this young-at-heart generation have also set their sights on adventure and experiences, with off-roading (9%), flying a helicopter (10%), scuba diving (7%) and going to music festivals (7%) as activities they would like to tick off their lists in the future.

Commenting on the research findings, Emma Walkley, Current Account Manager for Alliance & Leicester’s Premier 50 account said: “The desire of the over 50s to see more of the world is clear – this is not an age group that plans to sit back and enjoy a slower pace of life. Quite the opposite in fact, with long haul destinations and a thirst for adventure firmly on the agenda.

“But whether you are travelling locally or further a field, having adequate protection is essential, and unfortunately for people in this age group, this can come at an increased cost. Recognising that this is an issue, we have recently launched the Premier 50 current account, exclusively for the over 50s, providing annual worldwide travel insurance. Cover is provided up to the age of 79, giving customers the freedom and peace of mind to travel wherever and whenever they choose. In addition to the worldwide travel insurance, Premier 50 offers a market-leading credit interest rate and a package of other benefits.”

The Premier 50 current account offers the following for a monthly account fee of just £10:

Credit interest rate of 7.00% AER2 fixed for 12 months on balances up to £2,500
Annual worldwide travel insurance up to the age of 79
Health benefits, including access to up to two private out-patient consultations and up to £750 towards out-patient diagnostic testing per year, as well as access to a 24/7 Health at Hand helpline
0% overdraft for life
Linked PlusSaver account paying 6.00% AER. Bonus of 0.75% on standard rate on first £50,000.
Access to all Premier account features including Recommend a Friend scheme, Premier Switching Service and Premier Regular Saver (subject to promotional offer)
Account can be serviced via branch network, telephone or online, or through 14,000 Post Office sites.
Premier 50 Card Care
Premier 50 Identity Protection and Alert
Single or joint account available

For more information on Premier 50 and its associated benefits, visit alliance-leicester.co.uk/currentaccounts