IRF: Half of Incentive Professionals Expect Travel Program Budgets to Grow
The Incentive Research Foundation's spring 2014 Pulse Study on incentive trends revealed positive news for the industry: 51 percent of the 247 incentive professionals polled said their budgets for incentive travel programs will increase moderately this year. The study also showed that just 12 percent of respondents said the economy has a negative impact on their ability to plan programs; in the IRF's fall 2013 study, that number was 17 percent. In other findings:
• 44 percent of respondents had a negative perception of the current air transportation environment and its impact on incentive travel plans;
• 40 percent anticipate no change with respect to destinations for incentive travel programs in the coming year, while 19 percent expect a switch from domestic to international destinations;
• 27 percent anticipate no change to the type of incentive travel accommodations they plan to use, and nearly half (47 percent) foresee no change in the involvement of procurement and purchasing with incentive travel programs in the coming year.