Ever since 2012, I’ve had the privilege of traveling professionally, exploring over 70 countries and still feeling a sense of wonder at the thought of discovering new places. The opportunity to make a living doing what I love is something I cherish deeply. That’s why, when the holiday season arrives, I choose to gift my 7-year-old daughter with trips and experiences that will create lasting memories, rather than a plethora of material possessions that will be quickly forgotten.
This shift from material gifts to experiential ones is not unique to me. According to a recent Ipsos survey for Wells Fargo, 29% of Americans prefer receiving experiences like travel and events as gifts. The trend of holiday travel itself remains strong, with a study by NerdWallet revealing that 45% of U.S. adults plan to spend gift money on flights or hotels during the holiday season. It seems that the value of quality time spent together outweighs traditional gifts like gift cards or candles for many families.
Economics also play a role in the preference for experiences over material possessions. In uncertain economic times like the present, families are more conscious of their spending and want to ensure they are getting a good return on their investments. Reports by PricewaterhouseCoopers and Mastercard indicate a decrease in material gift spending while travel and entertainment expenditures remain steady. The focus is now on getting the most value for money, which often translates to creating memories through travel.
The psychology behind memory-making gifts further supports the shift towards experiences. Studies have shown that people derive more happiness from experiential purchases, such as trips, than from buying material items. Experiences have a lasting impact, turning into stories that are retold, photos that are framed, and inside jokes that bring joy for months to come. Travel experiences are also less prone to comparison, making them more satisfying in the long run and reducing potential conflicts that may arise from material gifts.
When it comes to gifting getaways, practicality is key. Breaking down the trip into smaller components over time can make it more manageable and affordable. Starting with a hotel deposit or flight credit and gradually adding on other elements like activities or transportation allows for a flexible and accessible way to gift travel. Family members can also contribute to the trip by chipping in for specific components, making it a collaborative effort that enhances the overall experience.
In a society where holiday spending includes travel and related gifts alongside traditional purchases, the focus on creating memories through experiences continues to grow. The appeal of gifting a getaway lies in the lasting impact it can have on relationships and personal growth. By choosing to prioritize shared experiences over material possessions, families can create meaningful memories that will be cherished long after the wrapping paper is discarded.
Peace Nero is a writer and blogger who loves to explore different topics of self-development. She shares her personal experiences in order to help people discover their true purpose in life.