The Incentive Research Foundation‘s annual study of incentive travel trends paints a promising picture for the industry. In Successful Meetings recent re-cap of the study, they show that program budgets are increasing, but so are expectations for unique experiences for incentive program participants. Here are some additional highlights from the survey:
North America Reigns as the Top Incentive Region
A whopping 49% of the IRF’s survey respondents said that North America was their first choice for incentive destinations. Given the region’s diverse landscapes and a varied range of activity options, along with strong infrastructure and a stable economy, this comes as no surprise.
Increased Budgets Are Going Towards Experiences
A steady and stable increase in budgets since the 2008 downturn is a promising economic factor across the boards. But what’s interesting is that the study revealed these additional funds are not necessarily going towards traditional costs, such as food and lodging, but instead are being allocated towards one-of-a-kind experiences that will set their incentive program apart and have a lasting impact on participants.
Diversified Activity Options
As the demographics of incentive travelers diversifies, so too are the range of activity options to suit everyone’s tastes. A rise in family programs means that spouses and kids now need more customized options. Additionally, a larger age range of incentive travelers produces different generational preferences and activity levels.
As a destination management company that focuses on unique, customized incentive travel in North America, we couldn’t be more pleased to see these emerging trends. Perhaps most exciting is the emphasis on memorable experiences. We know that those special moments which connect travelers with destinations and give them a sense of place, offer an exhilarating adventure, create a sense of wonder, and provide ongoing inspiration after they return home, which are responsible for creating a lasting impact on participants.“We are proud members of the Association of Destination Management Executives International”