Finance and insurance companies, tech companies, and pharmaceutical/health care companies are the three biggest users of incentive travel, according to the 2023 Incentive Travel Index.
The annual report, produced through a collaboration between the Society for Incentive Travel Excellence (SITE) and the Incentive Research Foundation (IRF). The survey polls corporate end users of incentive travel as well as destination management companies (DMCs), hospitality industry suppliers and incentive travel agencies.
The report states that so-called hard power benefits, such as increased sales and market share, are the most common use of incentive travel programs. This follows a couple years during the pandemic when many companies placed increased focus on soft power benefits such as increased engagement, building company culture and increasing employee retention. Soft power benefits are not disappearing, however. Nearly three in five buyers state they are shifting future programs toward a greater emphasis on soft power benefits.
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