Rebound seen in incentive travel
While 67 per cent of North American buyers reported they have resumed international incentive travel, only 50 per cent of buyers from the rest of the world are back to travelling internationally, said an industry expert.
“We see good signs of recovery, but these signs vary,” added Kevin Regan, SITE Foundation President.
“From a verticals perspective, the 2022 ITI study is forecasting positive growth over 2019 for the finance & insurance and ICT sectors, but pharma, auto and direct selling are forecasting static or negative growth.”
The newly released 2022 Incentive Travel Index (ITI) reports that, overall, the incentive travel industry is strong. Recovery is progressing, program design is evolving and there is increased interest in new destinations.
While industry-wide trends emerged, the study reflects variation by geography as well as by sector. The ITI enables incentive industry professionals to target the data they need to make decisions to meet their specific goals.
“Program design continues to evolve, and we can clearly see shifting preferences impacting program inclusions as a more diverse workforce become qualifiers. For example, we saw wellness emerge as a key program activity,” said IRF President Stephanie Harris.
“While activities that promote relationships was the top choice across the industry, we see some interesting differences across regions.