Consumers over the age of 50 have a greater means and opportunities to travel, according to a financial services group.

Alliance & Leicester stated yesterday that over-50s tend to have more money and free time to pursue such diversions as travel.

"The over-50s tend to have a bit more time, because they are either retiring from their job or their children are flying the nest, or they have more money to use to actually go further afield," commented Steve Gracey, spokesperson for the firm.

He added that older people are becoming a more recognised age group by travel agents and added that in many cases they are "much more savvy than their younger counterparts".

Recent research by the company suggests that nearly 11 million people aged 50 or over are planning to travel on a more regular basis over the coming five to ten years.

The most popular destinations for this age group include Australia, New Zealand and Europe as well as places further afield such as the Antarctic, China and Africa.