Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, the Global Silver Tourism Market Size is Estimated to Grow from USD 1711.02 Billion in 2023 to USD 4628.11 Billion by 2033, Growing at a CAGR of 10.46% during the forecast period 2023-2033.
Browse key industry insights spread across 215 pages with 110 Market data tables and figures & charts from the report on the Global Silver Tourism Market Size, Share, and COVID-19 Impact Analysis, By Type (Cruise Tours, Beach Tours, Historic and Cultural Tours, Adventure Tours, Nature and Wildlife Tours, and Wellness Retreats), By Age Group (50-60 Years, 60-70 Years, and Above 70 Years), By Destination (International and Domestic), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
Silver tourism is the term used to describe travel services and activities aimed at the senior population, which is often defined as people 60 years of age and older. The growth of wellness and health tourism, sometimes known as "grey tourism," feeds into the global market. Older tourists frequently place a high value on their health and well-being, looking for locations that provide spa services, wellness retreats, and physical activity. The emphasis on leisure and wellness while traveling is in keeping with the preferences of senior citizens who see holidays as chances to refresh and preserve their health. The market is expanding as a result of the rise of slow tourism. Rather than speeding through a crowded schedule, slow tourism emphasizes taking your time to enjoy and fully experience a place. Seniors frequently have the leisure to stay for longer periods, which enables them to take their time seeing places, interacting with locals, and taking part in cultural events. Since it appeals to the many elderly tourists who seek authenticity when traveling, slow tourism is becoming more and more popular. However, the high cost of travel is an issue for the growing tourist industry since it could discourage senior persons from taking part in these kinds of travel.
The wellness retreats segment accounted for the largest market share of 30.84 % in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the type, the silver tourism market is categorized into cruise tours, beach tours, historic and cultural tours, adventure tours, nature and wildlife tours, and wellness retreats. Among these, the wellness retreats segment accounted for the largest market share of 30.84 % in 2023 and is expected to grow at a significant CAGR during the forecast period. In their leisure activities, modern senior travelers place a greater focus on health, well-being, and renewal. As a result, wellness retreats have become much more well-known in the travel industry. Specialized wellness retreat infrastructures, such as yoga/health hotels, spa resorts, and health resorts, are being actively developed in tourist areas worldwide. These places offer a variety of activities, such as fitness courses, yoga, meditation, and spa services.
The 50-60 years segment is anticipated to hold the largest market share of the global silver tourism market through the projected period.
Based on the age group, the silver tourism market is classified into 50-60 years, 60-70 years, and above 70 years. Among these, the 50-60 years segment is anticipated to hold the largest market share of the global silver tourism market through the projected period. One of the main factors propelling segment expansion in the tourism sector is the rising demand for multi-destination and combination travel experiences. These travelers often have a strong preference for seeing several places on a single route, combining a variety of experiences including leisurely stays, scenic cruises, and cultural immersion.
The domestic segment is estimated to hold the largest revenue share of the global silver tourism market and is expected to grow at a significant CAGR through the forecast period.
Based on the destination, the silver tourism market is divided into international and domestic. Among these, the domestic segment is estimated to hold the largest revenue share of the global silver tourism market and is expected to grow at a significant CAGR through the forecast period. Traveling domestically frequently results in shorter travel times and simpler access to the destination. Seniors can travel less stressfully and more frequently by taking shorter vacations, including weekend retreats or local outings. For people who like to travel extensively but yet want to discover their own country, this convenience is a major motivator.
Asia Pacific is expected to hold the largest share of the silver tourism market through the forecast period.
Asia Pacific is expected to hold the largest share of the silver tourism market through the forecast period. Market expansion is driven by the region's aging population. Since life expectancy is increasing and birth rates are decreasing, countries such as China, Japan, and India are seeing an increase in the number of elderly citizens. Owing to this demographic change, there is a sizable and expanding market for senior tourists who have the leisure, means, and desire to see new places. Seniors in the area are seeking to travel both domestically and abroad more and more as they approach retirement age, which is driving demand for tourism-related goods and services that are suited to their requirements.
North America is predicted to grow at the fastest CAGR of the silver tourism market over the forecast period. Customized travel experiences that suit their interests and preferences, such as adventure travel, gourmet tours, and wellness retreats, are becoming more and more popular among older tourists. Senior travelers' specific needs have prompted the creation of specialty tours and packages in response to the growing demand for customized travel experiences. A larger trend toward tailoring travel to the various demands of the elderly population in North America is seen in the rise of specialized and tailored travel experiences.
Major key players in the silver tourism market include Thomas Cook India Group, SOTC Travel Limited, Intrepid Travel, China Tourism Group Duty-Free Corporation Limited, Kesari Tours Pvt Ltd., Flight Centre Travel Group Limited, Trip.com Travel Singapore Pte. Ltd, Expedia, Inc., Tauck, MAKEMYTRIP PVT. LTD., Travel Leaders, Liberty Travel, Collette Travel Service, Abercrombie & Kent USA, LLC, Yatra Online Limited, and others.
Recent Developments
Key Target Audience
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the silver tourism market based on the below-mentioned segments:
Global Silver Tourism Market, By Type
Global Silver Tourism Market, By Age Group
Global Silver Tourism Market, By Destination
Global Silver Tourism Market, By Regional Analysis
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