Wealth Insights

Can money buy happiness? Exploring the experiential luxury trend

We examine patterns in spending on travel, wellness and once-in-a-lifetime experiences.

In today’s world, luxury can be measured by moments rather than material goods. A recent Affluent Consumer Research Company survey shows that 75% of luxury consumers prioritize spending on experiences over things.¹

The research is on their side. Studies over the past decade, including several from the University of Texas at Austin, have shown that people gain more happiness from their experiences than from possessions.²

“Experiences like vacations are something that you can look back on and remember,” says Amy Rohde, CFP®, CTFA, a Wealth Advisor at Regions Bank in Southwest Florida. “In contrast, people don’t seem to be finding the value in luxury items like sports cars. They say, ‘I want to declutter my life.’ Because it can become overwhelming.”

Finding balance in your wealth plan

Because this alignment of spending has a profound impact on financial and emotional well-being, Rohde has regular conversations with clients to help them prioritize what brings them joy. “It’s important to save for tomorrow, but it’s also important to have an enjoyable lifestyle,” she says. “With wealth planning, it’s crucial to find that balance, and that’s what we do for our clients.”

Today’s luxury consumers seek out experiences that go well beyond the ordinary. They’re looking for meaningful and personalized travel, research from McKinsey shows.³ The following are five ways people are focusing their spending on experiences.

Adventure and exploration

When you picture an adventure traveler, you might think of someone climbing a famous mountain peak or rafting down a raging river. Around 39% of travelers surveyed by YouGov say adventure motivates them to travel.⁴ Luxury travelers are comparatively more likely to go on adventure-focused vacations.

For those looking for a “road less traveled” type of vacation, boutique travel agencies are ready to get your adrenaline pumping with trips that feature activities such as heli-biking, where a helicopter drops you and your bike atop a remote peak for an unforgettable downhill ride.

Relaxation and escape from routine

If you’re looking for a slower pace, you’re in good company. In the YouGov survey, 55% of luxury travelers and 54% of travelers overall chose relaxation as their top priority.⁴ A recent Wall Street Journal piece, “The Rise of the Do-Nothing Vacation,” captures this trend, with travel advisors reporting increased bookings at all-inclusive resorts. Cruises are also popular, with 2025 expected to bring another year of record U.S. cruise passenger volume, AAA reports.⁵

All-inclusive resorts and cruises, with their buffets and standardized drinks, might not seem like a perfect fit for luxury travelers. However, upscale vacationers appreciate the convenience these trips represent, adding exclusive and high-end offerings to personalize their experience.

Bonding and social connection

Spending quality time with loved ones is a top priority for affluent travelers. “We’re seeing more clients plan multigenerational vacations,” Rohde says. “It’s a meaningful way to connect across generations and create lasting memories.”

According to YouGov, 39% of travelers say time with family or friends is a key motivator for their trips.⁴ Luxury resorts are responding with spacious villas, private accommodations, and curated experiences for all ages.

Wellness and digital detox

For many, spending on experiences is about restoration. Luxury travelers were two to three times more likely than others to say their primary motivation is to unplug from digital devices, according to McKinsey.³ “Being in a better headspace when you come back— that’s the real value of investing in experiences over things that depreciate,” Rohde says.

Although the number of “digital detox” resorts is still small, high-end hospitality brands are embracing the trend. They’re designing spaces that encourage presence and connection, from serene gathering areas to curated spa treatments.

Among the most innovative offerings for soothing overstimulated minds are “immersive digital wellness” experiences, designed to calm and captivate guests through synchronized visuals, sound and scent.

Finding value, living in the moment

The shift toward experiential spending reflects more than a trend. It marks a meaningful evolution in how affluent consumers define value. Whether through adventure, relaxation, family bonding, or wellness, these experiences offer lasting impact.

As this lifestyle continues to take shape, thoughtful wealth planning becomes essential. By aligning financial strategies with what brings happiness, individuals can live more intentionally and invest in the moments that make life richer.

Talk to your Regions Wealth Advisor about:

1. How your wealth plan can support meaningful experiences.
2. Any upcoming milestones you’d like to account for in your wealth plan.

Want to get started with wealth planning?
Our wealth management guide can help you take the first step.

Interested in talking with an advisor but don’t have one?
Find a wealth advisor in your area.

Sources:
¹Affluent Consumer Research Company. “Forecasting the Future: How Does the Luxury Consumer Feel in 2025?” February 2025.
²University of Texas at Austin. “Spending on Experiences Versus Possessions Advances More Immediate Happiness,” March 2025.
³McKinsey & Co. “Updating Perceptions about Today’s Luxury Traveler,” May 2024.
⁴YouGov. “Understanding Travel in the Era of AI,” May 2024.
⁵AAA. “Record 19 Million Americans Projected to Cruise This Year,” January 2025.