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News & Press: Industry News & Press Releases

IRF's Top-Ten Incentive Travel Facts

Wednesday, April 12, 2017  
M&C Article
by Lisa A. Grimaldi | April 06, 2017

In honor of Global Meetings Industry Day, the Incentive Research Foundation has compiled the following list of "10 incentive travel facts everyone should know":
 
1. Thirty-eight percent of all U.S. firms with revenues of $1 million or more use incentive travel to motivate their people and partners. (Incentive Federation)

2. U.S. firms spend more than $14 billion annually on incentive travel. (Incentive Federation)

3. The net optimism score for incentive travel in the fall of 2016 was 26 percent, a moderately positive outlook for incentive travel. (Read more in the IRF 2017 Outlook Study here.)

4. As of fall 2016, most per-person incentive travel budgets ranged between $3,000 and $4,000, although about 40 percent of the industry spends more. (Read more in the IRF 2017 Outlook Study here.)

5. The average per-person spend has increased by 5 percent annually since fall 2014. (Read more in the IRF 2017 Outlook Study here.)

6. The top destinations for incentive group travel are the U.S., Caribbean, Mexico and Europe; the latter signals a return to long-haul destinations. (Read more in the IRF 2017 Outlook Study here.)

7. Analysis shows that the economic net optimism score for incentive travel tracks closely with overall U.S. economic performance, often acting as a leading indicator. (Read more in the IRF 2017 Outlook Study here.)


8. Nearly 60 percent of planners have experienced some form of disruption in their events, estimating that almost a quarter of their events have been affected in some way. (Read more in the IRF 2017 Trends Study here.)

9. Planners view "flawless execution" as the top way their most trusted hotel partners add value to incentive travel programs while hoteliers view "providing a strong vision" as the top way their most trusted planner partners add value to the relationship. (Read more in the 2016 Hotelier/Planner Study here.)

10. Although planners and organizations are enthusiastic about wellness, there is often a disconnect in implementation. The top wellness additions in meetings today are reduced-calorie drinks, healthy snacks, smoke-free properties, free access to fitness facilities and frequent breaks. (Read more in the IRF Wellness in Meetings and Incentive Travel Study here.)

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