Amid tightening budgets, luxury accommodation and new destinations remain top priorities for incentive travellers. Photo Credit: Adobe Stock/jovannig
Free time, relationship-building activities, and cultural experiences are the top drivers of a positive incentive travel experience, according to new findings discussed during a recent webinar hosted by the Incentive Research Foundation (IRF).
The webinar examined the balance between aspirational travel goals and real-world budget considerations, based on data from IRF’s 2024 Attendee Preferences for Incentive Travel study. The study surveyed 400 US-based respondents eligible for incentive travel, primarily from Gen Z and millennial demographics, highlighting the growing demand for not just relaxation but also high-end experiences.
Time spent away needs to be special and you need to be pampered.
Stephanie Harris, president, Incentive Research Foundation
Alongside ample free time to relax, experiencing luxury accommodation was also high on the list of what drives incentive experiences. “Time spent away needs to be special and you need to be pampered,” said Stephanie Harris, president at IRF.
She noted too that planners are also increasingly looking for destinations that they or their clients have not previously visited before, as well as sourcing all inclusive, high-end resorts. However, these incentive wish-lists can often remain unfulfilled due to constrained budgets, meaning businesses may not always be giving what their attendees want when it comes to incentives.
Related: 5 powerful incentive travel trends you need to know
“The elephant in the room is budget – that is driving so many decisions,” Harris explained. Despite interest in far-flung destinations, many organisations face stagnant or declining real budgets due to inflation. As a result, meeting aspirational goals often becomes an uphill battle.
One notable trend is the rising popularity of cruises. Findings showed that 75% of respondents said that the cruise experience is desirable regardless of where the cruise is scheduled to go, an increase on last year’s figure of 65%.