Las Vegas, Nev. — The newly released 2024 Incentive Travel Index (ITI) reports that, overall, growth is projected for the incentive travel industry through 2026.
Incentive travel buyers expect activity and per person spending above 2024 levels over the next two years. However, they also report concerns around rising costs, attracting talent to the industry and safety considerations.
The Incentive Travel Index is a joint initiative of the Incentive Research Foundation (IRF) and Society for Incentive Travel Excellence (SITE) and is undertaken in partnership with Oxford Economics.
This annual study reports on destination preferences, program inclusions, budgeting, and perceptions of the strategic importance of incentive travel.
This year’s report also provides a pulse-check on hot topics such as technology, artificial intelligence, climate issues and sustainability.
“The strategic importance of incentive travel is being bolstered by key workplace trends,” said Stephanie Harris, IRF President. “Retaining talented employees and competitive advantages in hiring are cited as increasing in importance, as well as more recent trends such as new generations of qualifiers and leaders and a more dispersed workforce.”
“Incentive travel buyers are increasingly looking for something new, with over 70% of respondents indicating they are seeking destinations they haven’t used before,” said SITE CEO Annette Gregg. “Resorts — both all-inclusive and others — have increased in popularity, and destinations within shorter distances from participant origin are also expected to see increased use.”
ITI 24 was launched at IMEX America to a packed room of business event professionals. The launch was jointly moderated by IRF’s Stephanie Harris and SITE’s Pádraic Gilligan with expert commentary by Maggie Worthington (Hilton), Jennifer Attersall (Destination Canada), and Justin Myers (Bishop-McCann).
For additional key findings from the 2024 Incentive Travel Index study, as well as reports from previous years, visit www.incentiveindex.com
