Two thirds of people in Serbia will spend more money on experiences this year

In a year that will see several global sporting events, major music tours and international film festivals take place in Europe, Mastercard has conducted research that provides detailed insights into consumer preferences when it comes to spending money on experiences, particularly those related to tourism.

Europe has traditionally been at the top of the list of the most visited tourist destinations. In 2023, 700 million tourists visited Europe. According to a new Mastercard survey that included over 16,000 consumers, creating precious memories will be equally important to Europeans and all their visitors this year, with almost 9 out of 10 (88%) respondents saying they plan to spend the same or more money on experiences in 2024 compared to 2023. 61% of respondents from Serbia said the same.

The research conducted by Mastercard Institute of Economics also shows that the trend of growth in spending on non-material products compared to material products is also strong. The share of spending on experiences such as travel or dining out will rise to 22% of total European spending in 2023, up from 19% in 2019. On the other hand, the share of spending on material goods will not change.

40% of European and 42% of Serbian respondents said that experiences create the best memories and more than a third (35%) of Europeans and 45% of Serbs said that a certain experience changed their views on the world, while 33% said that creating memories with another person or persons, whether it’s a trip, a cultural event, or simply enjoying a meal together enrich their lives.

Almost half (41%) of respondents said that when they decide whether to spend money on an experience, they want to know whether the experience is unique, because they want to create lifelong memories. 45% of respondents from Serbia answered the same. 26% of people say that creating memories is the main reason they travel.

(Biznis i Finansije, 26.03.2024)



This post is also available in: Italiano

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