This Is What Americans Are Willing to Spend for the Greatest Meal of Their Lives

Things have come a hell of a way since the iconic early-19th-century travel guide of Mariana Starke, which meticulously noted the precise cost of food throughout France and Italy for those lucky enough to traverse the continent. There is now more competition in the restaurant-guide game than ever before.

So even the elder statesman of restaurant rankers—the 115-year-old Michelin Guide—is now coming up with new services in the hopes of keeping rivals like the S. Pellegrino-sponsored World's 50 Best Restaurants at bay. Michelin wants to maintain its spot at the top, and it's conducting research to ensure that happens. Consider its newest survey, which asked American diners how much they would be willing to spend on a "meal of a lifetime."

The survey has some pretty surprising findings. For starters, people aged 18 to 34 said that they are willing to shell out the most for the culinary experience of their dreams: up to $282 for such a meal. Older diners wouldn't go there—those 45 to 54 said $170 was as much as they'd pay for the meal of their lifetimes; those over 65 would only pay $122. With age comes wisdom? Or cynicism? Perhaps.

Men are also much more willing to spend big bucks for the greatest meal of their lives—on average, $241—while women said they'd only pay an average of $166. And, in America, it is still all about the steak: steakhouse cuisine reigned supreme. Screw you, World Health Organization! Despite recent scares about a link between meat and cancer, steak is what we dream about. Italian food's not bad either—but that depends on where in America you live, with the Northeast strongly preferring Italian. Mexican, American, and Continental cuisines tied for third choice.

MUNCHIES spoke with Michelin's US editorial director, Cynthia Ochterbeck, about what this information reveals about the eating habits of Americans and the future of the restaurant industry.

MUNCHIES: Hi, Cynthia. Why was Michelin interested in conducting this survey? Cynthia Ochterbeck: It is fun and interesting to evaluate what people in the US think about fine dining. Obviously, Michelin doesn't use this to make restaurant selections, as our food inspectors are professionals who are completely anonymous and judge restaurants only by the food on the plate. Still, it is interesting to find out about [dining] trends.

Were you at all surprised with the survey's findings? For example, it's puzzling that diners on the West Coast are willing to pay more than those on the East Coast. Yes, the results in the West were a bit surprising, honestly. Especially when you consider that the Northeast includes places such as New York, Washington, DC, and Boston. Maybe we will look into this more next year in a survey. The results for Millennials was also interesting, but not completely surprising. Fine dining and great food in general have gained importance in the last decade. Younger people also see food as entertainment. Just look at all the food shows that are really geared for a young audience. It is really interesting.

What do you think it says about food culture that young people are willing to spend more on high-end dining experiences? We think it says such great things about the culinary future of the country. When a culture embraces and celebrates its cooking traditions, the effect resonates throughout the industry. Consumers demand quality ingredients at their local supermarkets and skillful preparation of a meal, whether it's at home, the neighborhood diner or Michelin-starred restaurant.

Steakhouses were found to be by far the most popular choice for a high-end meal. How do other styles of cuisine rank, and how does geography tie in? A quarter of US adults say that steakhouse cuisine is their favorite when dining out, followed by Italian [food] (19 percent), American/Continental, and Mexican (both 13 percent). Adults in the Northeast are more likely than those in any other region to favor Italian cuisine when dining out. Italian, and not steakhouse cuisine, [actually] wins among those with higher household incomes of over $75,000 a year.

Top-rated Michelin restaurants tend to be innovative restaurants that serve cuisine that is not easily categorized. Do you think the survey's results indicate a divide between what Michelin judges deem great food and what the average American is drawn to? We live in a time when the culinary world has never been more adventurous, or more accessible, for more people. New technology and the cost of travel make it easier than ever for people to read about, explore, and then experience great cuisine in any region of the world. The guide has more than 60 cuisines listed in New York alone, and it seems every year you see new cuisines that have earned a star, or a Bib Gourmand (meaning, restaurants that serve two courses and a glass of wine or dessert for $40 or less). While the guides are famous for its stars, they're only part of the guide. Each of these cities has an incredible, vibrant, and dynamic restaurant scene. It's important to take a look at the entire selections, including the $25-and-under selections and the Bib Gourmands.

Thanks for speaking with us, Cynthia.