The Role of the Longevity Economy in the Tourism Sector

The role of the longevity economy in the tourism sector was the main focus of last week TRAN Committee session. Experts and policymakers discussed the economic impact of an aging population on tourism, the opportunities it presents, and the challenges that must be addressed to ensure sustainable and inclusive travel experiences for older adults.

Understanding the Longevity Economy and Silver Tourism

Professor Adela Balderas Cejudo from Deusto Business School introduced the concept of the longevity economy, which encompasses the economic potential arising from an aging population. A key component of this is silver tourism, which caters specifically to the needs and preferences of older adults. As life expectancy increases, there is a growing demand for travel experiences that promote active lifestyles, social engagement, and well-being.

She highlighted the rising popularity of rural tourism among older travelers, which contributes to sustainable tourism and benefits local economies. Additionally, the cruise industry remains a strong segment within silver tourism, although concerns persist about its environmental and social impact. Balderas also emphasized the importance of EU policy frameworks such as the Transition Pathway for Tourism and the European Agenda for Tourism 2030, which promote sustainability, digitalization, and resilience in the sector. Despite progress, she noted that further stakeholder collaboration is necessary to enhance the digital transition and overall resilience of the industry.

Economic Potential and Challenges

Beatrice Leipute, a policy researcher at Visionary Analytics, presented projections indicating that by 2040, travelers over 55 years old will account for 65% of all tourism expenditures in the EU. She argued that silver tourism could play a crucial role in mitigating seasonal fluctuations and providing stable income and employment. Furthermore, research suggests that participation in travel reduces social isolation and enhances community well-being.

However, key barriers remain, including issues of digital and physical accessibility. Leipute underscored the importance of continued efforts to develop accessible tourism services, improved transport infrastructure, and certifications to ensure inclusivity in the sector.

Social and Environmental Considerations

MEPs raised concerns regarding the broader social and environmental impact of silver tourism. Vincent Marzà Ibanez (Greens, Spain) pointed out how increasing numbers of retirees relocating to popular destinations, such as Valencia, are driving up housing costs and making it difficult for local residents to afford homes. Similarly, Bruno Goncalves (S&D, Portugal) and Elena Kountoura (The Left, Greece) called for strategies to balance the benefits of silver tourism with the need for sustainable development, ensuring that infrastructure and medical services can support both tourists and local communities.

Cruise tourism, another prominent segment of silver tourism, was flagged as a major environmental concern. Several committee members questioned how EU policies could mitigate the negative impacts of cruise travel while still leveraging its economic benefits.

Policy Recommendations and the Future of Silver Tourism

Policymakers and experts stressed the importance of integrating silver tourism into EU funding mechanisms such as the Single Market Programme, Interreg, Horizon Europe, and Erasmus+. Cynthia Ni Murchu (Renew, Ireland) urged greater representation of older travelers in marketing and policy discussions to combat ageism and negative stereotypes.

Alicia Homs Ginel (S&D, Spain) highlighted the importance of ensuring that tourism remains not just economically viable but also socially sustainable. She emphasized the need for measures that protect local populations in highly touristic areas, aligning with the Palma Declaration adopted during the Spanish EU Presidency.

Experts also pointed to the importance of long-term strategic planning. Dimitrios Buhalis, an expert in strategic tourism management, stressed that silver tourism has the potential to reduce seasonality in tourism-dependent regions, thus providing economic stability. Martin Zsarnoczky, a specialist in longevity and senior care, called for more comprehensive insurance policies to support senior travelers and facilitate access to medical services.

The TRAN Committee discussions underscored the vast economic opportunities presented by silver tourism while recognizing the social, environmental, and policy challenges that must be addressed. Moving forward, achieving a balanced approach that promotes inclusivity, sustainability, and economic resilience will be key to maximizing the benefits of the longevity economy in the tourism sector.