When it comes to vacations, the baby boomers have a new priority: Multigenerational Travel
As the boomers head into retirement, they've got the time and money to indulge their desire to travel—and they're choosing to take those trips with their kids and grandkids.
According to industry marketing firm MMGY Global, 37% of grandparents with a household income greater than $50,000 who took a vacation last year did so with grandchildren, up from 28% in 2007. And 78% of these trips included all three generations.
For most families, the goal is simple: to have fun. But with families finding it harder to get downtime, people also "see this as an investment in creating memories," says Kyle McCarthy, editor of Family Travel Forum, a website for consumers. So the trips can get elaborate, everything from safaris in Africa to hikes along the Great Wall in China to tours of castles in Europe.
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