The Rise of the Experience Economy in Spain

A recent study by Mastercard reveals a meaningful shift in consumer priorities among Spaniards. In 2025, a remarkable 82% of Spaniards are actively planning to indulge in experiences they’ve been longing for, signaling a strong preference for memories over material possessions. This trend underscores the growing “experience economy,” where consumers prioritize spending on activities and events that enrich their lives.

Spaniards are willing to make cuts in other consumption areas

Top Experiences: Travel, Gastronomy, and Cinema Reign Supreme

The study, titled ‘The Economy of 2025 Experiences,’ highlights the most sought-after experiences for Spaniards. Travel and tourism lead the pack, with an remarkable 93% of respondents eager to explore new destinations. Gastronomy follows closely behind at 88%, indicating a strong desire for culinary adventures. Cinema-related experiences also rank high, capturing the interest of 86% of those surveyed. This suggests a diverse range of experiential interests among the Spanish population.

Dream Destinations: From Japan to Argentina

When asked about their dream destinations, unconstrained by financial limitations, Spaniards revealed a clear preference for certain locations. Japan, Argentina, and Australia emerged as the top three choices, reflecting a desire for diverse cultural and natural landscapes. The United States, italy, Spain, France, Canada, Andorra, and Brazil also feature prominently on the list, showcasing a wide range of travel aspirations.

Willingness to Spend: A Generational Divide

The study indicates that 50% of Spaniards are prepared to increase their spending on experiences in 2025 compared to the previous year. This willingness to invest in experiences varies across age groups.Generation Z leads the charge, with 72% expressing a desire to spend more. Millennials follow at 57%, Generation X at 46%, and Baby boomers at 36%. This generational breakdown suggests that younger demographics are particularly drawn to the value of experiences.

Sacrifices for Experiences: Cutting Back on Material Goods

To fund their desired experiences,Spaniards are willing to make sacrifices in other areas of consumption. Approximately 39% are prepared to cut back on expensive indulgences, while 37% would reduce their spending on new clothing. Dining out is another area where savings are anticipated, with 35% willing to decrease their restaurant visits. Furthermore, 29% plan to reduce their purchases of technology items, and 28% are considering scaling back on household improvements and decoration. This demonstrates a clear prioritization of experiences over material possessions.

Prioritizing Loved Ones: The Enduring Value of Shared Moments

Despite the growing emphasis on experiences,Spaniards continue to prioritize spending on weddings,family events,and birthdays. A significant 28% of respondents emphasize that the time spent with loved ones is as critically important as the experience itself. This highlights the enduring value of social connections and shared moments in the lives of Spaniards.

The Importance of Planning: Booking in Advance

Planning is a crucial element for Spaniards when it comes to their experiences. The Mastercard study reveals that a significant portion of the population plans their experiences well in advance. While 2% plan up to three years ahead, and 4% plan between two and three years in advance, a larger segment plans within a shorter timeframe. 10% plan one to two years ahead, 25% plan six months to a year in advance, 24% plan four to six months ahead, 18% plan two to four months ahead, 11% plan one to two months ahead, and 6% plan in the month leading up to the experience.

Generational Planning Habits

Planning horizons vary across generations. A majority of Generation Z (26%) typically plan their vacations four to six months in advance. Millennials (29%) and Generation X (26%) tend to plan further ahead, typically one year to six months in advance. Baby boomers (27%) are more likely to plan closer to the event, usually one to two months in advance. These differences in planning habits reflect varying lifestyles and priorities across generations.