The University of San Francisco reports that investing into life experiences, rather than buying material possessions, makes people happier. (reported in the Winnipeg Free Press). Why? They …
- Tend to be bigger risk takers
- Enjoy a greater sense of vitality from their purchase
- Savour memories long after the purchase
- Usually take others along which fills a need for social bonding
Simplicity, a focus on people, and choosing to engage/connect over materialistic purchases seems to be at the heart! Great news for experiential tourism, particularly as Baby Boomers enter retirement and semi-retirement and have enough ‘stuff’. Use this knowledge to design new travel experiences and generate interest in your community and destination.