A growing number of older adults in the United Kingdom are choosing to spend their savings on travel rather than preserving it as an inheritance for their children, according to industry experts and recent surveys. This trend reflects shifting attitudes among retirees who are prioritizing experiences over leaving a financial legacy.

Mark Tanzer, chief executive of Abta, the UK’s largest travel trade association, noted that today’s retirees tend to be fitter and financially better off compared to previous generations. With mortgages typically paid off and pensions underway, many over-65s have more disposable income. Tanzer suggested that a desire to enjoy life and avoid passing wealth on to inheritance tax are key factors motivating this spending behavior. “There’s a sense of ‘well if I don’t spend it, it will just go to inheritance tax,’” he said, describing the phenomenon sometimes called “Ski-ing” — spending the kids’ inheritance.

Data from Abta’s Holiday Habits survey, conducted this year among more than 2,000 adults, supports this shift. The survey found that 82 percent of people aged over 65 had taken a holiday within the previous 12 months, marking a five percentage point rise compared to two years earlier. The proportion of over-65s traveling abroad increased even more significantly, reaching 55 percent, up nine points over the same period. Spain emerged as the most popular overseas destination, attracting 43 percent of older travelers, while longer trips to the United States and Turkey were also favored. Responses to concerns about the rising cost of living revealed that nearly half of over-65s saw no impact on their holiday plans, contrasting sharply with only 10 percent of those aged 18 to 24 who felt unaffected.

Shaun Taylor, owner of Inspire Travel by Shaun in Lincolnshire, observed a similar trend among his clientele, about 80 percent of whom are retired. He shared that many older customers express a clear intent to enjoy their money now that their children are financially secure. Taylor also mentioned that, in some cases, adult children encourage their parents to spend their inheritance, valuing their parents’ well-being and enjoyment in retirement.

Further research from Standard Life earlier this year indicated that one in seven parents planned to prioritize spending money during retirement over leaving an inheritance. Nonetheless, three in five parents with adult children continued to provide financial support.

James Thornton, chief executive of Intrepid Travel, underscored the importance of older travelers for the industry. He described baby boomers as the fastest-growing customer group, motivated by the opportunity to undertake unique travel experiences after decades of work. According to Thornton, improved health and longevity enable this demographic to plan longer and more frequent trips.

The trend toward retirees actively using their savings on travel reflects broader social and economic changes, highlighting shifting priorities around wealth, family, and lifestyle in later years.