Data from the Bangladesh Bureau of Statistics (BBS) show that the older population in Bangladesh is approximately 13.7 million. Against this backdrop, enhancing the subjective well-being (SWB) of the elderly in Bangladesh is of particular importance for the country’s positive aging. Tourism is considered a happiness industry, yet no studies have so far explored its impact on the SWB of older adults in Bangladesh. This study employs structural equation modeling to analyze 212 questionnaires using SPSS and AMOS, assessing how travel reminiscence, storytelling, and engagement influence life satisfaction and affective states among the elderly. The findings indicate that emotional and relational tourist experiences significantly enhance SWB, whereas cognitive experiences have relatively weaker effects. Moreover, recollection and storytelling were found to mediate these relationships, amplifying positive outcomes. This study confirms that tourism has the potential to improve the well-being of the elderly through experiences that are emotionally and socially tailored. The results advocate for customized tourism services tailored to Bangladesh’s aging population and provide empirical support for tourism as a geriatric well-being intervention in developing countries. This study contributes to the expanding literature on tourism and aging by offering empirical evidence that supports the positive impact of tourism on the well-being of seniors.