A new industry partnership aims to better understand the emerging travel trends of those aged 50 years and above, and enable the industry to better cater to their needs.
The National Association of Travel Agents Singapore (NATAS) and Temasek Polytechnic (TP) will develop thought leadership for the silver travel industry here. Currently, statistics on the generation of silver travellers are mainly derived from Europe and the United States, and research has shown that while the silver generation is largely more affluent and makes up a large portion of travel consumers – in particular luxury travel – marketers tend to ignore this group and cater to younger crowds instead.
This will involve industry linkages with travel companies for research and data collection. The findings will be shared with the various stakeholders, and may be presented at local or international conferences.
With Singapore set to be one of the fastest ageing nations, as well as one of the oldest nations by 2050, both NATAS and TP feel that there is “tremendous potential” in the silver travel industry in the region.