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Homepage / Business / Retirement: 1 in 4 retirees go on holiday 5 or more times a year - could you afford to?
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Business

Retirement: 1 in 4 retirees go on holiday 5 or more times a year – could you afford to?

From spending time with family to enjoying new adventures, there are a number of factors which can affect how one spends their retirement. Financial aspects and personal preference can often be key considerations, as well as roles and responsibilities which one may face. However, according to national research commissioned for an operator and developer of later living communities across the UKInspired Villages, nearly a quarter of retirees (23 per cent) go away five times or more each year. The survey, of 2,000 retired people aged 65 or older, showed that a typical retiree heads on holiday three times per year, paying an average of £1,280 on each holiday.

The findings suggest these people typically go away for a total of 33 days per year.

For the lucky 23 per cent who said they headed off on a holiday five or more times each year, the favourite activity while abroad was said to be exploring new places.

Asked for their thoughts on travel if cost was not an issue, retirees said they would live to extend their travels to three months for each holiday – with New Zealand scooping the most popular dream destination – as voted for by 36 per cent of all respondents.

Aside from cost and health considerations, main limitations behind travelling for longer than a fortnight highlighted in the survey are looking after the green and household maintenance (21 per cent).

The added stress of travelling was also highlighted by a factor (17 per cent), while 15 per cent of respondents said a limitation was caring for animals.

Office for National Statistics figures show there has been a 37 per cent increase in spending on trips abroad by people aged 65 or older in the last four years.

In 2018, retirees spent £6.2 billion abroad, compared to £4.5 billion in 2014.

Commenting on the research, Jamie Bunce, CEO at Inspired Villages, an operator and developer of later living communities across the UK, said: “Many retirees are making the most of their free time to travel the world and explore new locations – clearly retirement has unleashed their sense of adventure.

“However, more than one fifth of over 65s are self-limiting their travel due to worries around household and garden maintenance – with the average retiree admitting they would travel for an additional two weeks if they knew their home was being looked after.

“At Inspired Villages we are very proud to be able to provide this peace of mind by offering a ‘lock up and leave’ facility.

“Our residents can go away for as long as they want, knowing that their homes and gardens are both secure and will be well-maintained in their absence.

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