- 17
- Apr
Older Brits are increasingly looking to get away from it all, a new set of research indicates.
Figures released by hotel firm Holiday Inn reveal that between 2005 and 2007, the number of consumers over the age of 50 going on weekend breaks rose by some 25 per cent. Meanwhile, this year is expected to witness further growth in this area. Three-quarters of couples who have reached their half century were revealed to be planning at least four romantic breaks over the course of 2008. However, during their 40s such excursions were limited to one per year. Research by the company also revealed that older couples spend an average of 1,363 pounds on trips to British destinations every year.
The increasing popularity of such breaks was partially attributed to many of the over-50s completing their mortgage repayments and now beginning to enjoy the fruits of their labour as they reach their golden years. It was revealed that 45 per cent of respondents had opted to retire early, while some 42 per cent claim to be taking the opportunity to enjoy quality time with one another now that their children have grown up and moved out of the family nest.
For those consumers looking for an effective way to fund going on a break, taking out a personal loan might prove to be of assistance.
Commenting on the figures, Chris Hale, spokesperson for Holiday Inn, said: “By [the age of] 50 most people have paid off their mortgage, their kids have left home and all of a sudden they have enormous freedoms they haven’t enjoyed for years. While people in their 30s and 40s are tied down with debts and family life, the over-50s are packing their bags and heading off for romantic weekends, with great big grins on their faces. There’s been a huge surge in the popularity of weekend leisure breaks in the UK. In 2006 just over half of us took a weekend break - last year this had shot to almost three-quarters. And the over-50s are travelling and spending more than anyone else.”
He added that as well as visiting British destinations, short breaks to European cities are also popular among older people. Meanwhile, Mr Hale claimed that the concept that such consumers are going on adventurous trips to exotic countries such as Vietnam and Thailand, in a similar fashion to their backpacking children, is a “huge myth”.
Whether it is a week in sunny Spain, a three-month globetrotting adventure or even a weekend break on the coast, those consumers looking for an effective way to fund going on a dream break might wish to consider getting a low-rate personal loan. In taking out this type of loan, it may be possible that borrowers can meet the cost of accommodation, transport and other expenses quickly and effectively, leaving them with a single affordable repayment to make each month. A personal loan could also help those looking to make modifications to their car. In recent figures by Halifax, eight per cent of drivers were shown to want to fit a new engine in their vehicle, with three per cent wanting new paintwork. Meanwhile, seven per cent of respondents claim to want a satellite navigation system installed.
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