Are people happier when they spend money on experiences rather than physical objects?

Question: Are people happier when they spend money on experiences rather than physical objects?
- Keywords:
  experience,
  happiness,
  product,
  spending
Asked by ZB to Jermaine on 22 Jun 2017.
- Jermaine Ravalier answered on 22 Jun 2017:
  
  Idealistically I’d like to say ‘yes’, but I don’t know as people tend to by stuff than experiences. Although all my friends that have been travelling have been happy to go without ‘stuff’ and come back MEGA happy from the experience.

Question: Are people happier when they spend money on experiences rather than physical objects?