The year’s biggest put down – “OK Boomer” – is an opportunity to discuss a seemingly downplayed business opportunity. While destinations bend themselves out-of-shape catering to social media “influencers” to draw millennials to their events and properties it’s worth remembering the size and value of the Baby Boom demographic.

Boomers, who are those born between 1946 to 1964, were the largest demographic in history.

Millennials have slightly overtaken them, but Boomers remain an economic force no destination or agent can dismiss.

Early Boomers started retiring in 2012, with the tail-end of the generation working until 2029. Boomers who retire in their 60s can expect to live 25 years of work free-life. Thanks to the fiscal prudence of their parents, who survived both the Great Depression and World War II, Boomers have been the recipients of the greatest wealth transfer in history. On top of this they are the best educated generation, which drove incomes up and empowered women to have their own careers. Plus, Boomers worked in an era when corporations offered pension schemes. As a generation, Boomers have money coming at them from all directions.

Millennials make up 80 percent of the US workforce, but Boomers hold 80 percent of the wealth. That statistic spins out across all western economies.

According to the American Association of Retired People (AARP) Boomers spend US $7 trillion per year on goods and services. AARP also says those 50-plus spend $125 billion a year on leisure travel.

Travel is in the Boomer DNA. They were the generation who back-packed around the world en masse. While they once travelled on the cheap, now they can – and do – travel better.

In the US 100,000 Boomers retire each month, in Canada that scales down to 10,000 per month. Boomers are retiring younger than previous generations, have better health than previous generations and are travelling longer. They’re creating 2.5 trillion more hours of leisure time and travelling between 15 days to two months per trip. Their preference is to travel with their adult children and/or grandchildren, failing that they travel with another couple. Millennials travel solo or with a friend to a destination where other friends are located or to a specific event. They have shorter booking times and shorter stays (roughly five-to-10 days built around a weekend). Those are US figures, but they are representative for Canada.

The important consideration is that Baby Boomers have their health as well as the time, money and desire to travel. And Boomers are a four-season traveller. “OK Boomer” should have a much different meaning for the travel industry.