Study reveals trends in the global incentive travel industry
North America, the Caribbean and Western Europe remain the most popular destinations for incentive travel, with destination appeal being the top criteria for selecting one destination over another followed by overall safety and value for money.
Society for Incentive Travel Excellence (SITE), Incentive Research Foundation (IRF), and Financial and Insurance Conference Professionals (FICP) announced the release of the first joint study of the global incentive travel industry.
Incentive Travel Industry Index Powered by SITE Index, IRF Outlook and FICP is a landmark for the industry, providing unprecedented, consolidated insights into the current state of incentive travel and where it is headed. The Index will be formally launched today in Las Vegas during a Smart Monday session when a panel of industry experts representing SITE, FICP and IRF will discuss the findings with Lori Cioffi, Senior Vice President/Chief Content Director, Northstar Meetings Group. The session will be streamed live on the SITE Facebook page.
Conducted in association with J.D. Power, the study is a wide-ranging analysis of business conditions, attitudes and expectations impacting the incentive travel and motivational events industry worldwide. With over 1,000 respondents from more than 80 countries, it is the largest survey ever conducted of senior players in the incentive travel industry, doubling responses from past individual efforts and netting new insights based on combined questioning.
Survey respondents were balanced between incentive travel buyers and suppliers, with buyers representing incentive agencies and corporate users, while more than half of the sellers are DMCs. The majority are tenured industry professionals with an average of 17.3 years of experience - approximately half are located in the US with the other half outside the US.
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