Most marketers of travel destinations and related services acknowledge the critical importance of the “older” market. But it never hurts to make the picture more crystal clear — especially when there is an avalanche of statistics to prove it.
According to Vividata (Q3 2017), a total of 10.8 million Canadians (12+) took a vacation trip outside Canada, involving an overnight stay, during the past 12 months. Of these, 6.1 million — or 56% — were Zoomers.
Not surprisingly, this dominance extends to all the other measurements:
Zoomers accounted for 57% of all the 3.5 million who took only one trip, 59.9% of the 2.2 million who took two trips, 62.7 of the 1.2 million who took from three to five trips, and 51.6% of the 922,000 who took six trips or more during the past 12 months.
Length of stay
Zoomers accounted for half of those who stayed just a few days, 55% of those whose vacation lasted about a week, 62.6% of those who stayed two to three weeks, 64.1% of those who stayed one or two months, and 73.4% of those who stayed three months or more.
The only category where Zoomers did not represent at least half the total number of vacationers, was for the lowest level of spending on the most recent vacation trip — under $500. Zoomers accounted for 49.2% of the total — far more than any other age group but, technically, not quite half.
For all other spending levels, Zoomers represented more than half the market:
$500 to $1,000 — Zoomers accounted for 54.9% of all those who spent at this level
$1,000 to $2,000 – Zoomers accounted for 54.3% of the total
$2,000 to $3,000 – Zoomers accounted for 58.4% of the total
$3,000 to $5,000 – Zoomers accounted for 66.4% of the total
$5,000 or more — again, Zoomers represented more than all other age groups combined, with 62.0% of the total
Vividata tracked 26 destinations, including regions of the USA, the Caribbean, Central America, South America, the UK, the rest of Europe, Middle East, Africa, China/Hong Kong, Japan, East Asia and South Asia. In all cases, Zoomers represented the largest single group of travelers to that location. In fact, for 23 out of the 26 destinations tracked, Zoomers outnumbered all other age groups combined, accounting for 50% or more of travelers.
The implications couldn’t be clearer — for airlines, hotels, car rentals, cruises, credit cards, or destinations themselves. Zoomers drive the entire market.
Number of Zoomers who personally hold investments and savings of $500,000 or more. No other age group is close. In fact, nearly seven out of ten Canadians (69.2%) with investments and savings of $500,000 or more, are Zoomers. Follow the money. Source: Vividata Spring 2018.