A new research suggests that one-third of people who get pensions will spend it on their holiday tours.
The research was conducted by an agency for ABTA or Association of British Travel Agents. The research study concluded that spending on the holiday is one of the favorite money spending points for Britons.
The study found that 20 percent of Britons between the age group of 55 to 75 years are considering taking out cash from their pensions. 35 percent of these senior citizens of Britain are considering spending this pension money on holidays.
The majority of respondents to the survey liked spending money on holidays. Most of them favored a break of 7 to 14 days. 14 percent of the respondents preferred a month long vacation.
Half of the respondents said that they would spend “more than usual” while they are on a holiday. The respondents also were in favor of much greater spending for a “trip of a lifetime.”
37 percent of the respondents said that they would spend around £2,000 to £5,000. 15 percent said they would spend around £5000 to £10,000. A minority of the respondents i.e. around 5 percent said that they would spend over £10,000. Singular travelers were twice more likely to spend over £10,000.
The study shows the greater interest people are showing towards holiday spending in a more luxurious way. Pensioners are retired people who have completed their working life.
Despite being old, with respect to the more young working population, the pensioners show more inclination towards traveling.
The study has been a morale booster for the travel industry. Travel agencies may plan to design new plans keeping in mind the pensioners and retired people. The travel plans will consider the age, economic, social and other factors as different demographic locations may have people of different desires and needs.