Role of Longevity Economy in Tourism Sector
Longevity economy and silver tourism play a crucial role in catering to the needs of the aging population, ensuring active citizenship, and creating economic opportunities within the tourism sector. Key trends, policy context, and challenges are explored to harness the economic potential and implications of this growing demographic segment.
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Role of the longevity economy Role of the longevity economy in the tourism sector in the tourism sector Dr Adela Balderas Cejudo, Member of the Scientific Advisory Board Beatri Leiput , Project Coordinator Visionary Analytics 29/01/2025 Presentation for the Committee on Transport and Tourism (TRAN) 1
Structure of the Presentation Structure of the Presentation 1. Longevity economy and silver tourism 2. Key trends 3. Policy context 4. Conceptual framework 5. Economic potential and implications 6. Key challenges and policy recommendations 29/01/2025 Presentation for the Committee on Transport and Tourism (TRAN) 2
1. Longevity economy and silver tourism 1. Longevity economy and silver tourism Longevity economy Longevity economy provides suitable conditions and supply of goods to the ageing population with increased purchasing power, as well as ensuring their active citizenship, working life, and volunteerism (Klimczuk, 2016). Silver tourism Silver tourism aims at allowing the older population (e.g., 55+) to access healthy and active ageing, feel social connection and purpose, as well as generate jobs for tourist providers and their subsidiaries. (Zsarnoczky, 2016; 2017b). Sources: Klimczuk, A. (2016) Comparative Analysis of National and Regional Models of the Silver Economy in the European Union . Rochester, NY; Zsarnoczky, M. (2016) Silver tourism , in, pp. 556 563; Zsarnoczky, M. (2017b) Developing senior tourism in Europe , Pannon Management Review, 6(3 4), pp. 201 214. 29/01/2025 Presentation for the Committee on Transport and Tourism (TRAN) 3
2. Key trends 2. Key trends Increasing life expectancy is leading to demographic changes and the need for healthier lifestyles for older adults to remain economically and socially active. Wealth inequality and declining property ownership could reduce disposable incomefor tourism in future generations of older adults. Rural tourism is becoming increasingly popular amongst older adults, especially in post-communist states. The EU s upcoming Entry/Exit System and Green Deal requirements pose new compliance challenges for the tourism industry, particularly cruise tourism. A broad range of factors, including age, health condition, and education status affect older adults, necessitating service providers to provide diverse services. 29/01/2025 Presentation for the Committee on Transport and Tourism (TRAN) 4
3. Policy context 3. Policy context Strategic framework: Transition Pathway for Tourism and Council conclusions on European Agenda for Tourism 2030 (December 2022) Relevant focus topics Accessibility Green transition and sustainability Digitalisation Other relevant policies European Accessibility Act / Web Accessibility Directive Passenger Rights Framework / Package Travel Directive Trans-European Travel Network (TEN-T) 29/01/2025 Presentation for the Committee on Transport and Tourism (TRAN) 5
4. Conceptual framework 4. Conceptual framework of silver tourism of silver tourism Offering tailored activities aimed at promoting health, vitality, and enjoyment for older adults Older adults relocating to regions with warmer climates and lower costs to enhance their quality of life during retirement Older adults embarking on journeys with their extended families, often taking their grand children on vacation trips Wellness tourism International retirement migration Multi-generational travel Accommodating the diverse needs of older individuals, including those with disabilities or mobility limitations Accessible tourism Older adults travelling abroad to receive medical care or procedures not available at their home countries Medical tourism Utilising various digital tools and platforms to enhance older tourists travel experiences Smart tourism 29/01/2025 Presentation for the Committee on Transport and Tourism (TRAN) 6
5. Economic potential and implications 5. Economic potential and implications Economic:Older adults are projected to account for 65% of all tourism expenditure in the EU by 2040. Environmental: Expansion of silver tourism may lead to additional emissions and habitat degradation. Social: Silver tourism helps reduce isolation, increasing among older adults. well-being Inadequate digital Industrial: accessibility in tourism services poses a barrier for older adults. 29/01/2025 Presentation for the Committee on Transport and Tourism (TRAN) 7
6. Key challenges and recommendations 6. Key challenges and recommendations Challenge Ageism and negative stereotypes about older adults Financial barriers to tourism for older adults and low spending Recommendation Strengthen emphasis on the EU and national level programmes to battle ageism, use inclusive, engaging marketing strategies Promote the implementation of financial instruments amongst the MS to co-finance tourism activities for older adults (e.g., social tourism programmes) Create a European roadmap for silver tourism, with clear objectives and measurable goals, could significantly advance the sector and enhance EU-level cooperation Lack of cooperation on the policy level between stakeholders connected to silver tourism 29/01/2025 Presentation for the Committee on Transport and Tourism (TRAN) 8
6. Key challenges and recommendations 6. Key challenges and recommendations Challenge Unmet accessibility needs of older adults Recommendation Enhance efforts todevelop comprehensive EU-wide accessible tourism guidelines and certifications, including the transport sector EU-level funding and institutional support should prioritise sustainable infrastructure and the implementation of European Tourism Indicator System (ETIS)in emerging silver tourism destinations Strengthen scenario planning and foresight efforts in the EU silver tourism sector (e.g., through The Competence Centre on Foresight) Ensuring sustainable development in silver tourism destinations Unforeseen effects of crises and shocks (e.g., pandemics, natural disasters) 29/01/2025 Presentation for the Committee on Transport and Tourism (TRAN) 9
Thank you for your attention Thank you for your attention Dr Adela Balderas Cejudo, adela.balderas@deusto.es Beatri Leiput , beatrice@visionary.lt 29/01/2025 Presentation for the Committee on Transport and Tourism (TRAN) 10
