INCENTIVE TRAVEL TRENDS
Because Incentive Travel programs are such a significant portion of the travel market, and corporate sales and marketing strategies, research and data are regularly collected to see what is happening in this part of the global arena.
Incentive Magazine has created some interesting facts and reports that were generated from a random sample selection of their subscribers. A total of 6,474 readers were selected and of those, 195 usable surveys were obtained by the editors, offering a response rate of 3%. CDSA shares these findings with you so you may justify establishing or increasing your Incentive Travel Program strategic plan to enhance your growth in overall revenues and motivation.
INCENTIVE USAGENumber of Annual Incentive Travel Programs in operation:
Target Audiences for Incentive Travel Programs in operation:
Objectives for Operating an Incentive Travel Program:
Types of Annual Incentive Travel Programs in operation:
Merchandise usage in Incentive Travel Programs:
BUDGETAnnual Expenditures for Incentive Travel Programs:
Annual spend on trip delivery per participant:
REPORTED DESTINATIONSTop Five Domestic Destinations offered by State:
Top International Destinations offered:
Reproduced with permission as the data appeared in Incentive Magazine, October, 2003.
Incentive travel trends
Some companies are again offering travel as an incentive to top performer by trips are shorter and closer to home. Many companies have budgets to spend and they want to spend and they want to reward their employees, but they don't want to waste money anymore.
Many incentive tips now include a clear business goal and some type of meeting component. Resorts enjoyed a banner year in 2007 and have raised rates in response to skyrocketing demands. Corporate group business has increased by an unbelievable 30% from 2006 levels. The average incentive trip has been shortened from 7-10 days to an average of 4-5 days. Safety and security are always a factor in site selection.
For more information about having CDSA on your Incentive Planning Team,