Gen Z and Millennials are shaping the experience economy. These days, young people crave experiences more than they do tangible items. The Bureau of Economic Analysis reports that Disney theme parks, international travel, and restaurant dining all increased in revenue this year. In fact, the leisure and hospitality industry is expected to accrue an additional 351K jobs in the next decade. This recent shift is also driven by a rise in demand for in-person sporting events and concerts, as displayed by the success of this summer’s Eras and Rennaissance tours. YPulse’s Experiences Report found that three quarters of young people agree: “I find that I appreciate my money more when I use it to do something I enjoy rather than buying a product.” (Business Insider)
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