The attention for experiences as economic offerings has increased enormously in the last decade. However, the lack of a clear definition of experience and the bias towards the organization’s perspective in the discourse cause much confusion. In this study experience is taken back to its basis: the encounter between an individual and his or her environment. Different concepts, effects and values of experience are defined to construct a more integrative discourse for the experience economy from the individual’s perspective. To reap the benefits that the experience economy offers, the role of organizations has to change from a directing and controlling one to a more supporting and facilitating one. A true recognition of the co-creation that takes place in experiences shows how much latent potential for creating value there is yet to discover.