Incentive Travel Expected to Grow Significantly Through 2016
According to the Site International Foundation's annual forecast on the incentive travel industry, an overwhelming majority (87 percent) of the 142 incentive professionals who participated in the survey anticipate incentive travel will increase somewhat or increase substantially between 2014 and 2016. In other findings, 79 percent of those polled expect more pressure to prove ROI or ROO (Return on Objective) to stakeholders in the next 12 months, and 82 percent expect a significant increase in the need to justify programs over the next one to three years. Nearly three-quarters (72 percent) of respondents predict an increase in the convergence of business meetings and motivational events over the next 12 months. The use of mobile technology has grown dramatically in the past year, with 80 percent of respondents saying it is important or very important, vs. 69 percent in the 2012 Site International Foundation annual forecast. LinkedIn currently is the most widely used social media platform for incentives, at 65 percent, with Facebook following at 58 percent and Twitter at 47 percent. When asked about their future social media plans, respondents predicted an increase in the use of Twitter and Facebook.
"After several years of intense scrutiny, companies are realizing the important role incentive travel and motivational events have played on their past success and are implementing new programs to elevate future performance," said Kurt Paben, president of the Site International Foundation."This can be attributed to an overall improving global economy, but it also reflects the current state of bookings for programs that will operate within the next three years."