Baby boomers, the generation born between 1946 to 1964, will all be at least fifty years old by the end of the year. One market sector that has seen major growth trends as baby boomers age is RV rental in Connecticut. It may seem puzzling to see such huge jumps in RV sales and rentals, but when you understand the market it appeals to, their situation in life and their values, it makes perfect sense.
There have been jumps in sales in the RV market by as much as 36%. Studies done in 2001 showed that baby boomers were responsible for the growing appeal of what is known as the RV lifestyle. While baby boomers love to travel, they specifically love the freedom of RV travel. An RV may be less expensive than other methods of travel. But it also has other features that appeal to adventurers. Visiting friends and family is a major aspect of travel, but it isn’t always easy or convenient. RV’s can solve a lot of the discomfort that comes with staying in people’s homes. An RV allows them to spend quality time with people they care about while having their own space to enjoy during the trip.
Not everybody gets the chance to travel, and even less have money in their budget that can be spared. But baby boomers do. The population over fifty accounts for $7 trillion dollars in personal wealth, meaning that they have some money to spend on traveling. Over half of the income made by people over fifty is discretionary money. Once people are done raising their kids, have paid off big debts, and have significant savings, it makes sense to go travel.
Eighty percent of leisure travel is enjoyed by those over 50. With all baby boomers falling into that category, RV rentals in Connecticut are only expected to grow. People over fifty report that travel is of top importance, matched only by family time and getting new experiences. Baby boomers are able to travel in style and comfort in an RV, without having to worry about expensive hotels, cramped spaces with family, or roughing it in the woods with a tent.
It’s obvious that RV travel is more popular than it has been in a long time, and that isn’t expected to change any time soon. There is so much to be gained. Travel the country with friends and family, enjoy the comforts of home on the road, and spend less than you would on air fare. For some, buying an RV is where it’s at. But for the majority, that costs too much. Fortunately renting an RV provides the same experience, at a fraction of the cost, and without any extra maintenance or upkeep.