The Significant Economic Impact of Increased Travel Frequency Among Seniors: An Analysis of the “Travel Divide” (6)
The Significant Economic Impact of Increased Travel Frequency Among Seniors: An Analysis of the “Travel Divide” (6) Our last post commented on how increased travel frequency can lead to greater happiness, reduced dementia cases, and lower social costs. This time, we will analyze the potential significant economic impact of increased travel frequency among seniors. First, let’s examine domestic overnight trips. Pre-pandemic data from 2019 shows that the average frequency of domestic overnight trips was 1.36 times per year for all age groups. However, this number drops to 1.16 times for people in their seventies and further to 0.64 times for those aged over eighty, according to the Japan Tourism Agency’s “2019 Travel and Tourism Consumption Trends Survey Annual Report.” This highlights a ‘Travel Divide’ among seniors. Source: Japan Tourism Agency “2019 Travel and Tourism Consumption Trends Survey Annual Report” We analyzed a scenario where the travel frequency of seniors aged 70 and above increases. Based on the average travel expenditure of 57,973 yen for this age group, a 10% increase in their travel frequency could result in an economic impact of 150.2 billion yen, a 20% increase could lead to 300.3 billion yen and a 30% increase could