7/10 Kiwi seniors willing to spend kids’ inheritance on travel, Grey Nomads survey

Kiwi seniors are digging deeper to go on holiday, but they're still travelling. Photo / 123RF

A new survey into the holiday spending of travellers over 50 has revealed a massive shift in the habits, with a rising number of seniors spending more on travel and dipping into savings to fund their trips - including their kids’ inheritance.

The survey commissioned by New Zealand Seniors looked at the holidays of 500 Kiwis over the age of 50, to see the value this demographic placed on travel.

The “grey nomads” remain the most mobile group, with time and money to spend travelling an average of five and a half weeks a year.

Despite findings that holiday spending has increased in the past five years - with 60 per cent spending more than $5000 a year on travel - thanks to inflation, these funds are not going as far as they once did. Neither are the silver surfers.

Sentiment research shows that the majority of trips taken by Kiwi seniors are within New Zealand, with 58 per cent saying the most desirable travel locations are around the country and 36 per cent saying they were prioritising seeing more in their own region.

The grey dollar doesn’t go as far as it used to and this is reflected in responses.

Eighty-two 82 per cent said that cost is their biggest consideration when booking travel and over half (58 per cent) said that travel expenses were their biggest pet peeves.

However, that doesn’t mean that older travellers are standing still. In most cases they are looking elsewhere to fund their travel habit. Although personal savings remained the main source of funding holidays according to nine out of 10 (87 per cent), increasingly, flights and hotel rooms are being put on credit (15 per cent) and superannuation pensions (17 per cent).

Seventy-one per cent of respondents said they saw no issue with spending their children’s inheritance on travel.

Report author Kate Tawhai, travel broker and owner of the Travel Expert agency, said that high costs have not stopped older Kiwis pursuing their retirement holiday plans.

“New Zealanders over 50 are still booking travel in droves, albeit with a specific budget in mind.”

And while the research shows Kiwis are still exploring their backyard, budget-conscious travellers are increasingly looking overseas, particularly to places offering better value holidays.

“Although overall travel costs are rising, airfares are showing signs of falling due to greater competition in the market.”

So where is on the bucket list for Kiwi seniors?

The backyard was first port of call for many Kiwis over 50, with two-fifths prioritising trips around Aotearoa - just ahead of winter sunshine in Australia.

Western Europe remained a big draw for 45 per cent of respondents - with culture and history a priority for 57 per cent of holiday planners.

Less high on the bucket list was South America (22 per cent) or North East Asia (27 per cent).

A round-the-world cruise was on the radar of around a quarter of respondents.

Priorities were firmly seeing the world over seeing other people - with the report finding only “16 per cent considering it very or extremely important to connect with others” while traveling.

1. In another region in New Zealand 58%
2. Australia 57%
3. Western Europe 45%
4. Southeast Asia 37%
5. North America 37%
6. Within my region in New Zealand 36%
7. Eastern Europe 30%
8. North East Asia 27%
9. World cruise/trip 25%
10. South America 22%