Americans are spending more on travel and live entertainment. But their personal saving rate has taken a dip.

• Americans are spending more on experiences, which they were largely deprived of during the pandemic.
• Consumer spending on foreign trips and live entertainment rose by nearly 30% in 2023, WaPo reported.
• Meanwhile, the personal saving rate in the US has declined, falling to 3.6% in February.

During the earliest stages of the COVID-19 pandemic, many Americans reminisced about the things that used to bring them joy. They never stopped thinking about that last big trip with their families or that last in-person concert they enjoyed with friends.

Four years later, American consumers have mostly moved on from the pandemic and are spending more on experiences than ever before.