Travel in the Age of the Experience Economy

Recent research suggests you may be happier spending money on experiences such as foreign travel and adventure than on a flashy new car. According to a story in the Guardian, it all goes back to the idea of the experience economy, first put forth in 1998 in the Harvard Business Review.

“According to the theory,” the Guardian story states, “experiences are uniquely valued because memories last longer than material goods, which are prone to wear and tear. They are also unique. The Joneses next door might have the same Ferrari as I do, but they are unlikely to have taken a year off to drive a converted shopping trolley around rural China.” Hasn’t everyone traveled around rural China in a converted shopping trolley? But seriously, the article doesn’t delve into the research as much I would have liked. We’ll see if we can dig up more elsewhere.

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