US leisure companies will continue to benefit from consumer spending growth in 2016, aided by the trend towards more experiential, rather than material, purchases, according to a new Fitch Ratings report.

The competitive environment for consumer wallet share remains intense and leisure companies must compete against varying alternatives, including retailers, technology services and non-travel oriented entertainment, the study said.

Fitch’s 2016 outlooks for the sector and its ratings are stable, based on the expectation for moderate discretionary consumer spending growth, offset by rising competitive and technology risks.

The 2016 outlook includes Fitch’s views on online travel agencies, cruise operators, video game publishers and theme park operators.

The full report, 2016 Outlook: US Leisure, is available here.