China’s $140 billion ‘silver hair’ travel opportunity

What happened Move over, Gen Z — China’s silver-haired retirees are the real jet setters now. According to data from online travel agency Ctrip, travel bookings for individuals aged 50 and above rose by 34% year-on-year by the end of 2024, with outbound bookings jumping by more than 60%. This demographic now accounts for nearly 20% of outbound travel and has become a cornerstone of the tourism market. Ctrip’s aviation big data platform, FlightAI, reports that 90% of retirees traveled 1-2 times for personal reasons in the first half of 2024. Asian destinations such as Japan, South Korea, Thailand, Singapore, and Malaysia remain favorites for first-time senior travelers due to cultural familiarity and language accessibility. Meanwhile, a travel agency in Guizhou reported that retirees made up 60% of its outbound tours last year. And this market shows no signs of slowing down, with the “China Elderly Travel and Health Care Development Report” predicting that revenue from senior tourism will surpass 1 trillion RMB ($140 billion) by the end of 2025. The Jing Take China’s senior citizens are an underestimated yet influential demographic. Often overlooked by global brands, older consumers are already shaping industries like gold, beauty, and now tourism. With China’s population aged 60 and above reaching 321 million this year, this group is poised to comprise 50% of the domestic travel market by 2040. Understanding retirees’ unique spending habits is key to unlocking their potential: they prioritize comfort and convenience while enjoying a little slice of luxury. Four- and five-star accommodations are especially popular, with the demographic’s online spending exceeding the market average by 30%. That doesn’t mean they aren’t cost-conscious. Seniors prefer traveling off-peak to snag better deals, giving them flexibility that younger working consumers often lack. For example, Ctrip data from a week after National Day in 2024 revealed a 20% YoY increase in bookings by retirees aged 50 and above compared with the same period in 2023, who accounted for nearly 40% of weekday travelers. Among those who travel on weekdays, 64% of the passengers are seniors. This demographic also has the lowest proportion of travel during holidays, standing at only 12%. China has been actively tackling the challenges of its aging population by implementing measures such as increasing basic pensions, boosting minimum old-age benefits, and rolling out proactive national policies. By the end of 2023, the country’s pensioner population had grown to 315 million, accounting for 22.5% of China’s total occupants. Chinese travel companies are already adapting to the burgeoning travel demographic. Last year, Ctrip launched its “Ctrip Old Friends Club” initiative to provide tailored travel experiences for the over-50 market. China Trust Travel also unveiled its “Oxygen Train” — a 15-day deluxe soft sleeper tour through Qinghai, Gansu, and Tibet, aimed at China’s affluent middle-aged and elderly travelers seeking high-quality rail tourism experiences. But accessibility remains a cause for concern. Brands should consider offering services that accommodate non-smartphone users, as well as creating tours designed for ease of mobility.

China’s $140 billion ‘silver hair’ travel opportunity

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Published January 27, 2025

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China’s $140 billion ‘silver hair’ travel opportunity