Categorized | Etcetera

Improved Economy Equals More Incentives…

Posted on 20 July 2013

The economy is improving — and the health of the incentive industry appears to improving with it, according to the Incentive Research Foundation (IRF), which recently released the results of its latest “Pulse Survey,” showing a 13-point increase (56 percent compared to 43 percent six months ago) in the number of incentive planners, suppliers and buyers reporting a “positive impact” of the economy on their ability to plan and implement incentive travel programs.


According to IRF’s spring 2013 poll, the vast majority of incentive professionals (82 percent) expect incentive travel budgets to stay the same or increase in 2013, “painting a much rosier picture of an industry that has suffered its share of slings and arrows over the past five years.”


Other trends observed by IRF:


• Although social media and corporate social responsibility (CSR) continue to be popular enhancements to incentive programs, their usage has declined slightly in the past six months;


• Among respondents who’ve seen increased incentive budgets, 91 percent report a corresponding increase in sales results.


• Thirty-nine percent of respondents anticipate no change with respect to destinations for incentive travel programs this year. Meanwhile, 17.5 percent say they’ll pick locations closer to home and 16.8 percent that they’ll choose domestic rather than international destinations.


• North America (42 percent) is the most popular incentive travel destination, followed by Central/South America (34 percent), the Caribbean (32 percent) and Europe (31 percent).


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