Exciting news for Meeting & Incentive Travel Planners:
The Society for Incentive Travel Excellence released their 2015 SITE Index Benchmark Study highlights, and key findings forecast a bright year ahead, with the industry poised for positive growth in 2016!
Key Findings Include:
Those involved in the incentive travel industry generally say their businesses are strong, and two-thirds of both buyers and sellers indicate a willingness to invest in their own companies if given a chance.
Overall, there has been a net increase in incentive travel budgets over the past year and this trend should continue for the next 12 months. Both buyers and sellers strongly believe in the value of these programs.
The study shows that 57% of Buyers plan to ‘greatly’ or ‘slightly’ increase the number of people eligible for incentive travel awards in the next 12 months.
The creative bar is rising, with nearly seven in ten sellers of incentive travel services developing new ways to add value for participants through innovative event design.
Adding a meeting component to incentive travel programs is the norm; the portion of buyers who say that a meeting component is “always” involved in incentive travel programs (42%) is significantly higher than what many sellers recognize.
Approximately seven in 10 programs include at least one CSR activity – and they’re not just geared toward younger participants.
The full SITE report will be released Feb 8, and we’ll be sure to update you with any new findings! Read highlights of the results in this SITE brochure.