Dulani Porter

🏖 Global luxury spending held steady at $1.5 trillion in 2024. In the U.S., experience-based spending increased by 3%, while the UK saw entertainment spending rise by 5.8%, outpacing total card spending growth (1.6%). U.S. consumer spending hit $16.1 trillion in 2024, with a significant portion directed toward travel and entertainment. Millennials and Gen Z are prioritizing immersive, intentional, and socially connected travel experiences. Brands are urged to focus on personalization, emotional impact, and aligning their values with their operations to thrive in the experience economy.