A significant shift in financial priorities is emerging among Britain's over-55s, with a new survey revealing a strong preference for spending on shared family experiences and passion-led travel over accumulating savings to pass down as inheritance. The research, conducted by YouGov with 2,000 participants, examined travel plans for 2026 alongside broader spending habits and holiday planning influences.
Family Experiences Trump Inheritance Savings
The survey found that 55 per cent of over-55s admitted they would rather spend money on shared family experiences instead of adding to their savings to leave as inheritance. This sentiment was particularly strong among parents with older or independent children, with 68 per cent stating they were more comfortable prioritising spending on themselves.
Passion-Led Travel Takes Priority
Passion-led trips focusing on personal interests proved overwhelmingly popular, with 70 per cent of respondents saying they plan their holidays around their interests. History and heritage emerged as the most significant influence, with 54 per cent citing these as the focal point of their trips. Food and drink experiences followed closely, being important for 31 per cent of respondents.
Guilt-Free Luxury Spending
Over-55s are embracing luxury travel without remorse, with 48 per cent of respondents reporting they don't feel guilty when booking extravagant breaks or experiences instead of spending time with family. Only 13 per cent said they felt guilty about this choice, indicating a significant cultural shift in how this demographic views leisure spending.
Travel Spending Defies Economic Pressures
Despite ongoing high living costs, British holidaymakers are maintaining or increasing their travel budgets. Some 26 per cent said they would be spending more on long holidays in 2026, while 18 per cent plan to spend more on shorter trips this year. The majority surveyed indicated they will keep travel budgets consistent with last year's spending.
Destination Preferences Revealed
City breaks emerged as the most appealing holiday type, favoured by 57 per cent of respondents. Beach holidays followed at 42 per cent, while all-inclusive experiences appealed to 37 per cent of those surveyed.
Expert Commentary on Travel Trends
Ed Grenby, Radio Times Travel Editor, commented on the findings: 'The survey clearly shows that holidays and passion-led pursuits are non-negotiables for the majority of people. What we see across all age groups is that an appreciation of the here and now, and an unashamed enjoyment of life, is something we all have in common.'
Regarding destination preferences, Grenby added: 'Cities are like living museums, so it's no surprise that city breaks are the most appealing category, and that history and heritage comes out as the most popular source of inspiration for passion-led trips. With so many city destinations and European hubs of gastronomy and culture just an hour or two away, we really are spoilt for choice.'
He continued: 'As people seek sunnier climates in the darker months and maximise relaxation time over meticulous itineraries, the popularity of beach holidays and all-inclusive experiences also endures.'
The research paints a picture of a demographic increasingly focused on experiential living, prioritising meaningful travel experiences and family memories over traditional inheritance planning, even amidst economic challenges.
