Research show that companies are now appreciating the full benefits of incentive programmes such as building engagement and retaining employees. (Getty Images)
NEW YORK - Budgets are expanding for incentive programmes, and companies are appreciating the "soft-power" objectives programmes deliver -- aiming, for instance, to build engagement and retain employees -- as well as the traditional goal of meeting and exceeding sales targets. Those positive findings are among the key takeaways from the 2019 Incentive Travel Industry Index, a collaboration between Society of Incentive Travel Experts, the Incentive Research Foundation, and Financial and Insurance Conference Professionals.
The second annual study from Oxford Economics queried 2,600 incentive travel professionals from 100 countries. The following are highlights from this leading industry indicator. All charts sourced from Incentive Travel Industry Index.
Spend to rise
Per-person expenditures are expected to increase slightly over the next three years, according to the study. In 2019, respondents spent 1% more than in 2018. Planners believe year-over-year spend will continue to rise, by a projected 1.67 percent in 2020, 2.2% in 2021 and 2.6% in 2022.
Read the full details, including charts and insights about what to expect for incentives in the year ahead, at NorthstarMeetingsGroup.com