These are all symptomatic of the growing “experience economy”, which has evolved out of a culture of mass affluence. With our basic needs satisfied — the disposable income of Britons is double what it was in 1980 — we are becoming increasingly choosy about how we spend our money.

Rather than upgrading our car or television, we’ll spend the cash in coffee shops, hotels, restaurants, sports clubs and theme parks. We’ll splash out on European city breaks or walking the Inca trail. Experiences, in other words.