Multigenerational Travel Can Boost Healthy Aging, Social Engagement, and Economic Growth

New report from Global Coalition on Aging and Transamerica Institute showcases the opportunities, trends, and benefits of multigenerational travel

NEW YORK and LOS ANGELES, July 30, 2026 /PRNewswire/ -- The Global Coalition on Aging (GCOA) and nonprofit Transamerica Institute^® today released Travel for Healthy Longevity: Health and Economic Benefits of Multigenerational Travel, a report examining the rapid rise of silver tourism (age 55+) and multigenerational travel as a powerful force for healthy aging, family connection, and economic growth. Synthesizing a large body of academic and other third-party research, the report identifies strategies for industry leaders, policymakers, and employers to unlock the full potential of this expanding market.

"The rise of silver tourism and multigenerational travel is a reflection of how longevity is reshaping family life, consumer behavior, and ultimately, the global economy," said Michael Hodin, CEO of GCOA. "Governments and businesses that recognize this opportunity and design for it will be the ones that thrive in our 21st century aging world."

Key findings in the report include:

• Travel supports health. Tourism experiences have been associated with a 59% lower relative risk of dementia^[i], and travel has been linked to increased social connectedness^[ii].
• People of all ages can benefit from travel. When traveling, older adults gain cognitive stimulation, middle-aged adults experience reduced stress, and younger travelers could find relief from isolation, which is especially prevalent among Americans ages 20-29^[iii],^[iv],^[v],^[vi],^[vii],^[viii].
• Travel is becoming part of Baby Boomers' legacy planning. Stewarding approximately $85 trillion in U.S. wealth, Baby Boomers are redefining what it means to leave a legacy, with many choosing to invest in making memories through shared experiences, particularly travel with younger generations^[ix], ^[x],^[xi].
• The economic impact is substantial. In 2024, American travelers generated $2.9 trillion in economic output from $1.3 trillion in direct spending^[xii], with 57% of families reporting having taken multigenerational trips in recent years or planning to do so^[xiii].
• Barriers to access remain. Affordability presents challenges to growth in multigenerational travel, with a majority of household budgets concentrated on essentials including housing, food, and healthcare, which leaves less discretionary spending for leisure activities such as travel^[xiv].

"Travel is a personal investment in one's health, well-being, family connection and quality of life—and it can pay dividends across generations," said Catherine Collinson, CEO and President of Transamerica Institute. "Realizing the full potential of multigenerational travel will require coordinated action across industry, policy, and the workplace to help ensure that its benefits are available to everyone across socioeconomic backgrounds and budgets."

Travel for Healthy Longevity: Health and Economic Benefits of Multigenerational Travel builds on Leveraging Travel as a Catalyst for Healthy Longevity (2025) and Journey to Healthy Aging: Planning for Travel in Retirement (2013).

For more information, please contact:

Melissa Gong Mitchell, Executive Director, Global Coalition on Aging

[email protected]

Catherine Collinson, CEO and President, Transamerica Institute^®

[email protected] 

About Global Coalition on Aging

The Global Coalition on Aging aims to reshape how global leaders approach and prepare for the 21st century's profound shift in population aging. GCOA uniquely brings together global corporations across industry sectors with common strategic interests in aging populations, a comprehensive and systemic understanding of aging, and an optimistic view of its impact. Visit globalcoalitiononaging.com. 

About Transamerica Institute^®

Transamerica Institute^® is a nonprofit, private operating foundation dedicated to identifying, researching, and educating the public about retirement security and the intersections of health and financial well-being. Transamerica Center for Retirement Studies^®, a division of Transamerica Institute, conducts one of the largest and longest-running annual retirement surveys of its kind. Visit www.transamericainstitute.org.

ENDNOTES

^[i] Li, Q., Guo, Z., Hu, F., Xiao, M., Zhang, Q., Wen, J., Ying, T., Zheng, D., Wang, Y., Yang, S., & Hou, H. (2023, October 24). Tourism experiences reduce the risk of cognitive impairment in the Chinese older adult: a prospective cohort study. Frontiers in Public Health, 11. https://doi.org/10.3389/fpubh.2023.1271319

^[ii] Gössling, S., Cohen, S. A., & Hibbert, J. F. (2016). Tourism as connectedness. Current Issues in Tourism, 21(14), 1586–1600. https://doi.org/10.1080/13683500.2016.1157142

^[iii] Collinson, C., & Cho, H. (2025, October 8). Retirement Throughout the Ages: The American Middle Class, 25th Annual Transamerica Retirement Survey. Transamerica Center for Retirement Studies. https://www.transamericainstitute.org/docs/research/household-income/retirement-throughout-ages-middle-class-survey-report-2025.pdf

^[iv] Fancourt, D., & Steptoe, A. (2018, July 5). Cultural engagement predicts changes in cognitive function in older adults over a 10 year period: findings from the English Longitudinal Study of Ageing. Scientific Reports, 8(1). https://www.nature.com/articles/s41598-018-28591-8

^[v] Li, Q., Guo, Z., Hu, F., Xiao, M., Zhang, Q., Wen, J., Ying, T., Zheng, D., Wang, Y., Yang, S., & Hou, H. (2023, October 24). Tourism experiences reduce the risk of cognitive impairment in the Chinese older adult: a prospective cohort study. Frontiers in Public Health, 11. https://doi.org/10.3389/fpubh.2023.1271319

^[vi] Chen, Chun-Chu, et al. "Tourism Experiences as a Stress Reliever: Examining the Effects of Tourism Recovery Experiences on Life Satisfaction." Journal of Travel Research, vol. 55, no. 2, 12 Aug. 2014, pp. 150–160, https://doi.org/10.1177/0047287514546223

^[vii] Nurja, I., & Bendo, I. (2025). The Impact of Vacation Length and Frequency on Enhancing Psychological Well-Being. 2(1), 10–22. https://doi.org/10.33422/icsh21.v2i1.1192

^[viii] Gössling, S., Cohen, S. A., & Hibbert, J. F. (2016). Tourism as connectedness. Current Issues in Tourism, 21(14), 1586–1600. https://doi.org/10.1080/13683500.2016.1157142

^[ix] Najmabadi, S., Cocco, F., (2025, November 18). How baby boomers got so rich and why their kids are unlikely to catch up. The Washington Post. https://www.washingtonpost.com/business/2025/11/18/baby-boomer-wealth/

^[x] Howard, C. (2025, June 6). Multi-Gen Travel Grows Up With the Rise of Adult Family Vacations. Forbes. https://www.forbes.com/sites/carolinehoward/2025/05/16/multi-gen-travel-grows-up-with-the-rise-of-adult-family-vacations/

^[xi] Booking.com. (2024, October 16) Defying Convention to Deepen Connections: Booking.com's Nine Predictions for Travel in 2025. Booking.com. news.booking.com/defying-convention-to-deepen-connections-bookingcoms-nine-predictions-for-travel-in-2025/

^[xii] U.S. Travel Association, & U.S Department of Commerce. (2024). Economic Impact of the U.S. Travel Industry. U.S. Travel Association. https://www.ustravel.org/sites/default/files/2024-03/National%20Data_0.pdf

^[xiii] Abelson, A. (2025). U.S. Family Travel Survey 2025. Family Travel Association & NYU School of Professional Studies Jonathan M. Tisch Center of Hospitality. https://www.familytravel.org/assets/pdf/FTA-Survey2025-Report

^[xiv] Meyers, S., Paulin, G., & Thiel, K. (2024, December). Consumer expenditures in 2023. U.S. Bureau of Labor Statistics. https://www.bls.gov/opub/reports/consumer-expenditures/2023/home.htm

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SOURCE Transamerica Institute