Outlook strong for incentive travel sector

The number of people participating in incentive travel programs worldwide will grow by 61% in 2024, compared to 2019

These numbers highlight the effectiveness of incentive travel programs in attracting, retaining, and motivating talent, as well as shaping organizational culture and reputation. This is especially relevant in today's remote and hybrid work environment, as per IBTM World's 2023 Incentive Travel Report.

Key takeaways

• According to 66 percent of incentive travel agencies, benefits like inclusivity, peer relationships, and the option to bring a partner on trips are increasingly important to employees;
• Despite a resurgence, the industry faces challenges such as talent shortages, inflation, rising travel and supply chain costs, and tighter corporate budgets, resulting in fewer business trips and lower attendance at face-to-face events;
• Authenticity, wellness, and sustainability are driving a new generation of incentive travel programs that meet evolving workforce expectations.

Get the full story at IBTM