LONDON – WTM 2013 – REPORT: Almost half (48%) of PANKs enjoy travelling with nieces and nephews, and this figure is set to grow as the travel industry turns its sights on these generous aunties.
LONDON – WTM 2013 – REPORT: The US travel industry is targeting PANKs – ‘Professional Aunt, No Kids’ – who collectively spend billions on travelling with nieces and nephews, reveals the WTM Global Trends Report 2013.
The emerging market covers women over the age of 18 who do not have children, but have a close relationship with children of friends and relatives, states the report, in association with Euromonitor International.
As of 2010, just over 42% of women in the US aged 15 to 44 were childless, as women have children later in life or choose not to have children at all.
The WTM Global Trends Report 2013, unveiled during the first day of World Travel Market in London, states that Savvy Auntie – a US-based website community for aunts and godmothers -estimates there are 23 million PANKs in the US who spend a whopping US$9 billion annually on children (baseline of one child per PANK).
Almost half (48%) of PANKs enjoy travelling with nieces and nephews, and this figure is set to grow as the travel industry turns its sights on these generous aunties.
Melanie Notkin, Chief Executive at Savvy Auntie, commented: “PANKs want to have meaningful experiences with the children in their lives and develop strong bonds with them, which makes travel an ideal product for this demographic.”
Intrepid Travel and Royal Caribbean are two travel firms that have already spotted the potential of PANKs, added the WTM Global Trends Report 2013.
“The PANK market is sizeable, has huge potential, and has yet to be exploited,” commented Jared Alster, Director of Marketing at Intrepid Travel.
Reed Travel Exhibitions, Senior Director, World Travel Market, Simon Press said: “Demographic changes in the US and around the world mean that PANKs are set to grow in number.
“Travel firms that are aware of the power of PANKs’ spending can tap into a lucrative, expanding market. We’ve seen the impact of the Gay and Lesbian market and how the ‘Pink Dollar’ market has grown, and now we are set to see the growth of the PANK Dollar!”
Caroline Bremner, Euromonitor International Head of Travel and Tourism Research, added: “The travel industry has great expertise in creating and marketing family products and will reap benefits by expanding the term ‘family’ to PANKs and other non-traditional family types.”
Photo caption: World Travel Market 2013, ExCeL, London: WTM Global Trends Report (from right to left): Babita Sharma, News Journalist and BBC Presenter, Angelo Rosseni, Online and Digital Analyst, Caroline Brenner, Head of Travel and Tourism Research, Nadejda Popova, Aviation Expert, Euromonitor International.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
