Older Adults Are One of the Groups Leading the ‘Delaycation’ Surge
Are you an older American dreaming of finally booking your dream trip to Europe after a long, stressful year of isolation and lockdown?
You’re not alone. As a society, we tend to categorize our younger generations as the ones with wanderlust and globe trotter intentions. But in CompareCredit’s recent survey conducted on behalf online by The Harris Poll, older adults (65+) are just as eager as other age groups to travel again. Of the 2,000 US adults polled, 59% of Americans 65+ plan to start spending money on travel that they hadn’t been able to during the pandemic when life goes back to normal. That’s compared to 58% ages 18-34, 56% ages 35-44, 55% ages 45-54 and 52% ages 55-64.
Increasingly, it looks like delaycations are going to be the norm this summer as families get back together and older adults finally take all the vacations delayed by travel restrictions of the last year. A leading difference maker could be the rate at which older adults are getting vaccinated. More than 80% of people 77 years or older said that they’re more ready to travel in 2021 than 2020.
Which is good news as federal health officials say traveling is low-risk for anyone who has been fully vaccinated. And as the European Union agrees to open its doors again to vaccinated travelers, American are sure to start hoping the pond for their delaycations.
Further proof of this travel trend comes as Chase recently reported travel and entertainment expenses surged by 50% in March when compared to February. The bank also suggested loyalty and reward travel bookings rose by a similar margin, too.
That makes now a great time to consider how you can earn rewards and extra points to make your upcoming travel a little more enjoyable. Travel credit cards are preparing to meet this demand by offering some of the best rates, sign up bonuses and offers in years.
As you break out the maps, dust off the travel guides and bust out your passports, take some time to consider if you have the right credit card to make your dream delaycation a reality. And remember, no matter your age, the world is opening and at your fingertips once again.
The CompareCredit survey was conducted online within the United States by The Harris Poll on behalf of CompareCredit from March 19 - 23, 2021 among 2,058 adults ages 18 and older. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact Elliot.Jeffords@sovereign.co.