As many as 73 percent of respondents from Croatia believe that it is worth spending on experiences

Mastercard's research shows the strong interest of consumers from Croatia, but also from all over Europe, in creating unforgettable moments.

In a year full of global sporting events, music tours and film festivals, new research reveals a growing trend of investing in experiences among Croatian consumers.

More than half of respondents (57%) plan to increase their spending on experiential activities this year compared to the previous year, and want to try more trips (61% of respondents plan to spend more), music festivals and concerts (42%) and gastronomic experiences (39 %). 11% of Croats plan to reduce expenses related to experiences. 

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Memorable experiences before material possessions

The survey, conducted on a total of over 16.000 respondents, shows that as many as 73% of respondents from Croatia believe that money spent on experiences is always worth it.

Consumers express a strong connection to experiences that provide them with the best memories of their lives (40%), enable a new perspective on the world (44%), and are deeply enriching through sharing with others (41%).

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The data shows that 36% of respondents opt for a balanced approach, spending equally on material goods and experiences, while 32% primarily prefer experiences.

Among the factors that influence the decision to invest in an experience, health and well-being, the uniqueness of the experience, as well as the ability to share it with friends and family stand out.

Europe

This research also showed that in Europe as many as nine out of ten respondents intend to spend more on experiences in 2024 compared to the previous year.

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"Europe, with its rich cultural heritage and diverse events, provides the ideal stage for creating lasting memories. Our priceless.com platform aims to connect people with what they love most, everyday and everywhere. This research helps us understand people's priorities for 2024 and how we can enrich their lives", he stated Raja Rajamannar, chief marketing and communications officer at Mastercard.

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He added that today they offer countless experiences in more than 30 destinations around the world. These include, among others, the UEFA Champions League final, the Cannes Film Festival, The Open, hundreds of Live Nation concerts.

At the European level, this sentiment is reflected in the desire to travel, attend live music events, enjoy culinary and wellness vacations.

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Almost four-fifths of respondents (78%) see great value in spending on such activities, while 29% specifically allocate funds for experiential activities within their financial plans.

A dynamic calendar of events

Chief Economist for Europe at Mastercard's Economic Institute, Natalia Lechmanova, points out that - although consumers have been faced with difficult financial decisions in recent years - their desire for meaningful experiences remains strong.

"As economic pressures such as high inflation and high interest rates ease, consumers are expected to direct their increased purchasing power towards discretionary spending. A dynamic calendar of events in Europe this year, including sporting events and music festivals, is likely to support this trend", states Lechmanova.

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Source and photo: Mastercard