Prioritising Moments That Matter: Nine in ten people set to spend the same or more on experiences in 2024 vs 2023, according to new
In a year when multiple global sporting events, music artist tours and international film festivals are set to take place in
Regularly topping the charts as the region with the highest number of international tourist arrivals worldwide,
Our goal with Priceless is to connect people to their passions, their purpose and each other - every day, everywhere. This research helps to inform what people are prioritizing in 2024 and beyond, and how we can best bring joy to their lives. Today, we offer countless Priceless Experiences across 30+ destinations globally. As we gear up to a big summer for
The trend towards prioritising spend on experiences over 'things' is one that is supported by data from the
Natalia Lechmanova, Chief Economist Europe, at
The survey reveals that the top experiences that people are most looking forward to this year are travel related, followed by live music events, outdoor experiences, culinary trips and wellness escapes3.
When it comes to why this prioritisation of spending on experiences is happening, the 'intangible' benefit it brings is cited as a key driver. Nearly 4 in 5 (78%) said spending on experiences is usually, or always, worth it, in stark contrast to the 4% who find it rarely or never worth the investment and 29% of consumers specifically prioritise saving for experiences in their overall financial budgeting.
40% of respondents said experiences provide them with their best memories, with over a third (35%) stating that having experiences helped them see the world in a new light, and 33% saying they find shared experiences with others deeply enriching, whether that's exploring a new destination, attending a cultural event, or simply enjoying a meal together. Over 4 in 10 (41%) said that how 'one of a kind' an experience is would be a determining factor in whether to spend on an experience, highlighting their ambition to make lifelong memories.
And this desire to enjoy new experiences is fuelling travel, with 26% of people saying this is the primary reason they travel and over 4 in 10 (41%) saying they'd travel to another country, or continent, just to enjoy an experience they're passionate about.
[1]
[2] UNWTO World Tourism Barometer
[3] Question: Which of the following would you be keen to try more of in 2024? Answer: Travel and tourism (60%); Food-related experiences (35%); Outdoor experiences (35%), Live music events (35%), Wellness and Health-related experiences (34%), Family-oriented experiences such as amusement parks (33%), Film-related experiences (29%), Theatre performances (26%), Art-related experiences (25%), Historical or Heritage experiences (25%).
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