Like any demographic group Canadian Boomers are “special”…
In Canada, the baby boom spanned from 1952 until 1965. It was the result of good economic times, not due to the end of WWII in 1949 as it was for out southern neightbors. The peak of Canada’s Boom was in 1959.
By 2017, the same year that Canada will be celebrating the 150th anniversary of confederation, Canadian Boomers will start to reach the age of 65 and begin to retire en masse. This will dramatically change Canada’s profile, not just at work, but also in terms of entertainment and travel:
- 50% of Boomers have or expect an inheritance in the next 20 years.
- 1/5 will receive an inheritance > $100,000 and 1/3 $25,000 to $100,000.
- ~ $1 trillion dollars will be inherited by Boomers in the next 20 years.
- Travel is the #1 item that inheriting Boomers say they will spend their money on.
For Boomers, comfort is more important than money: Boomers are willing to pay for luxury items, as long as they feel they are getting good value (e.g., opting for more expensive options in lieu of discomfort) (Canada Living).
The Boomer attitude towards travel, like everything else, is unique. Boomers consider travel a necessity, not a luxury; have traveled more than their predecessors; see themselves as forever young; want to have fun; demand immediate gratification; are not passive; think they are “special”; like creature comforts; are time deprived; will pay for luxury, expertise and convenience; are skeptical of institutions and individuals; like to associate with people like themselves; and, are not homogenous (Kim Ross).
Boomer travel trends include: ecotourism, adventure (e.g., cycling, scuba, skiing), medical tourism, multigenerational, bucket list, passions (e.g., foodie travel), and spiritual journeys (Suzanne Gerber). In addition, genealogical tourism to trace your ancestry, mystery “whodunit” tours, educational travel (e.g., food and wine, birding, language, dancing), train tours, cargo ship travel, volunteer tourism, and river and canal cruising (Canada Living).
According to Jefferies, Boomers will spend their retirement money on golfing and travel.
The asset rich retired Boomers will be a major travel market force in the coming years.
Canadian Boomers are different than Americans in many ways for example Canadians: live longer; are more satisfied with their lives; say “sorry” a lot… which boosts happiness and strengthen relationships; have fewer issues with their kids (who are better educated, have a lower suicide rate, lower rate of infant mortality and a lower unemployment rate); have lower health care costs; have fewer divorces; are more accepting of diversity and much less prudish; are fitter, have more sex, drink less and are richer; accept homosexuality; donate more money to charities; have a better work-life balance; have bigger houses; greater economic freedom and less income disparity; are safer (Macleans)… And that’s just the tip of the iceberg.
Canadian Boomers have very different options available to them than American Boomers in the area of rewards and credit options. Furthermore, most of the best travel blogs on the net are American-centric and for the adventure seeking / child-herding under 50 crowd.
As Canadian mid-century moderns with a yen for the fabulous we have not found a blog or e-community dedicated to our very exacting needs. So we decided to develop our own.
If you are one of them, then this blog’s for you!