What’s the best motivational reward? Studies show that incentive travel has the highest return on investment. It also has the longest-lasting impact. Check out these studies.
2014 Trends in Engagement, Incentives, and Recognition
- Incentive Travel brings key top-performers together to learn from one another, to grow, and to engage them in solving key business issues
- Progressive organizations are even using attendees to these events as catalysts and mentors to the next rung of leadership within their organizations.
- The IRF has tracked incentive travel trends for the last six years through (semi-annual) IRF Pulse Studies
- The current snapshot shows that incentive travel budgets are finally stabilizing, with more planners increasing (rather than decreasing) their budgets.
- On average, 36% of planners are increasing their budgets year over year with only 14% decreasing.
- North America, the Caribbean, and Europe are still the top destinations for incentive travel (more than a third of planners reported using these destinations)
- The second tier of locations includes Central America, South America and Asia.
- Only between 10-20% of U.S. planners reported using these destinations currently, the IRF sees the most emerging destinations within this tier.
- According to SITE’s forecast, incentive travel is predicted to continue growing at least through 2016, with 52% and 80% of incentive travel professionals, respectively, predicting an increase in the use of incentive travel in the next six months & the following 6 – 12 months
- A study commissioned by the US Travel Association found that corporate companies that use incentive travel generally enjoy a ROI of 4:1 – for every dollar invested in incentive travel