A recent Mastercard survey of more than 15,000 consumers in Europe found that 77% shop around for deals before booking any experience. People are now ensuring that every euro works as hard as possible.
The Massive Experience Economy
Entertainment and travel have been outperforming retail in recent years. Many are spending a lot more on experiences these days and less on material things. On average, Americans spent about $10,600 on trips and vacations last year, with a record 5.2 billion people flying globally in 2025.
Additionally, two-thirds of Europeans say that one of their top priorities is checking off bucket-list activities to create lifelong memories and share experiences with people they love. All this is despite rising living costs, as most want to create lasting memories, even if it’s just a night out or a short weekend away.
Spending Smarter
About 53% of Americans say that they now budget carefully. So, even though they’re spending on experiences, they're still mindful of the costs. They’re being more deliberate about how they direct their funds, prioritising activities that give them satisfaction.
What’s more, Gen Z and Millennials are leading the change toward doing more research and comparing options to find the best ones. When they need to cut back, they’re mainly doing so by reducing their spending on shopping and other material purchases.
Why This Change Is a Good Thing
Some might frame this change in how people allocate their budgets as a sign of being economical. However, the move toward comparison, research, and value-consciousness has made leisure more democratic.
When consumers understand what they’re getting for their money, such as hotel amenities or a streaming service that delivers top-quality content, they have better experiences. With proper preparation, their expectations are aligned with the reality of the situation.
Over 80% of millennials and Gen Z travellers now prioritise unique and authentic experiences over popular tourist destinations. The vast majority also like having spontaneity in their itinerary for anything unexpected they might come across.
Final Thoughts on Smart Spenders
The experience economy in 2026 is ideal for informed, smart spenders. Thanks to this, they have plenty of ways to research before committing to anything, understand key terms, and apply sound value analysis before making a leisure choice. The end result is that they get more travel, better food, smarter entertainment, and more time doing activities they genuinely enjoy. Finally, being a smart spender does not mean having less fun. It just means getting much more value from the experience and avoiding disappointment caused by misaligned expectations.