Incentive Travel Market is projected to soar to $216.8 billion by 2031, demonstrating a robust CAGR of 12.1%

By Newswires

By end user, the corporate institutions segment is expected to grow at the highest CAGR of 11.97% during Incentive Travel Market Forecast

According to a new report published by Allied Market Research, titled, “Incentive Travel Market," The incentive travel market size was valued at $42 billion in 2021, and is estimated to reach $216.8 billion by 2031, growing at a CAGR of 12.1% from 2022 to 2031. Incentive travel are perks provided by corporates to the top performing employees purely on merit basis. The deciding factors for incentive travel varies from company to company but is provided to appreciate the employee contribution. By industry, the incentive travel market is bifurcated into healthcare, banking & finance, manufacturing, IT, retail, hospitality, and others. All these industries are different in nature and contribute in hiking the demand for the Incentive Travel Industry. Incentive travel is intended to motivate employee and promote healthy competition among employees. This promotes loyalty and helps in attracting top talent as well as lowering attrition rate in the company...Continue reading.

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