Spain Is The Most Popular Retirement Travel Destination For 57% Of North East Retirees

As summer fades for many, retirees in the North East are embracing the start of a new adventure. A recent survey by Legal & General, which polled over 2,000 UK adults aged 55 and over, has uncovered the travel dreams of retirees across the UK, including those who are currently planning or have already embarked on their post-retirement journeys.

For retirees in the North East, Spain tops the list of most popular travel destinations, with 57% selecting the sunny country as their ideal getaway. Italy follows closely, favoured by 42%, while 30% of respondents have their sights set on the United States.

Travel Trends Among North East Retirees

The survey revealed that less than half (45%) of respondents in the North East feel confident about travelling solo in retirement. This suggests that while many are eager to explore the world, going it alone may not appeal to everyone.

When it comes to financial planning, 63% of North East retirees stated they have set aside or plan to allocate funds for their retirement travel. Interestingly, 20% have taken a more structured approach, creating detailed itineraries and then budgeting accordingly. However, 18% admitted they did not or do not plan to financially prepare for their trips.

In terms of money confidence, 59% of respondents feel they have carefully considered or are in the process of considering their finances for retirement travel. On the flip side, 17% acknowledged they had not taken their finances into account when planning their travels.

Preferred Trips and Travel Styles

The survey also explored the types of trips retirees are looking forward to, with UK-based long weekend trips emerging as the most popular choice for 30% of North East respondents. Beach holidays came in a close second, favoured by 28%, while 22% of retirees are planning European city breaks.

When it comes to travel styles, most North East respondents (22%) identified themselves as ‘planners’, preferring to organise events, flights, and accommodation well in advance. Another 20% described themselves as ‘easy-going’, choosing to travel without detailed plans, preferring to be spontaneous.

As North East retirees embark on their post-work adventures, it’s clear that travel continues to be a major part of their retirement dreams, with each individual choosing to experience their journeys in a way that best suits their personality and preferences.

Lorna Shah, Managing Director, Legal & General Retail Retirement and CEO of Legal & General Home Finance:

“Planning for retirement is crucial not only for maintaining financial stability but also for enabling a fulfilling and enjoyable post-work life.

“As people phase into retirement, having a well-thought-out financial plan can make a significant difference. It provides the freedom to pursue long-held dreams, such as travelling to new destinations or engaging in much loved hobbies.

“At Legal & General, we have a range of different planning tools to help you financially prepare for your retirement such as the Retirement and Pension Income Calculator and a downloadable budget planner to see if your retirement plans are on track.”

For further survey results, please visit: https://www.legalandgeneral.com/retirement/pension-annuity/guides/wanderlust-in-retirement/