The over-55s are set to be a growing source of income for the travel industry, with long-haul holidays and more luxurious accommodation particularly in demand, according to research for travel industry body ANVR by ABN Amro.

The over-55s are increasingly wealthy because many are in dual income households and have more disposable income as their children leave home, the bank’s experts say. And that is also leading to new trends, such as cycling holidays or culinary breaks.

For example, this year the bank expects the Dutch to spend more than €1 billion on cycling holidays, of which more than half will come from the over-55s, the research shows.

In total, the bank expects the over-55s to spend €10.7 billion on holidays by 2027, compared with over €7 billion last year.

“This is a group of travellers that like to get around outside school holidays and the tourism sector can respond to this… and extend their season,” said Frank Oostdam director of the ANVR.

Multi-generational travel is also on the rise, with grandparents, parents and children going away for short periods together. “We have long been advocating for more flexible days off so that people can spread their holidays better and there is more room for multi-generational travel,” Oostdam said.