In line with a brand new research, the inducement journey {industry} is powerful—restoration is progressing, program design is evolving and there may be elevated curiosity in new locations, reveals the newly launched 2022 Incentive Journey Index (ITI), a joint initiative of Monetary & Insurance coverage Convention Professionals (FICP), the Incentive Analysis Basis (IRF) and the Basis of the Society for Incentive Journey Excellence (SITE Basis) and is undertaken in partnership with Oxford Economics.
Whereas industry-wide tendencies emerged, the research displays variation by geography in addition to by sector. The ITI permits incentive {industry} professionals to focus on the information they should make choices to meet their particular objectives.
“We see good indicators of restoration, however these indicators fluctuate. Whereas 67 p.c of North American patrons reported they’ve resumed worldwide incentive journey, solely 50 p.c of patrons from the remainder of the world are again to travelling internationally,” mentioned Kevin Regan, MBA, SITE Basis’s President, in a information launch. “From a verticals perspective, the 2022 ITI research is forecasting optimistic development over 2019 for the Finance & Insurance coverage and ICT sectors, however Pharma, Auto and Direct Promoting are forecasting static or unfavourable development.”
“Program design continues to evolve, and we will clearly see shifting preferences impacting program inclusions as a extra various workforce turn into qualifiers. For instance, we noticed wellness emerge as a key program exercise,” mentioned IRF president Stephanie Harris, within the launch. “Whereas actions that promote relationships was the best choice throughout the {industry}, we see some fascinating variations throughout areas. A key distinction is that sustainability and CSR alternatives have been thought of extra essential by {industry} professionals outdoors of North America.”
“The will to journey to new locations has elevated for North American patrons, whereas the remainder of the world indicated they may choose locations nearer to house,” mentioned FICP govt director Steve Bova, CAE, within the launch. “On the subject of locations themselves, North American respondents’ choice for home and Caribbean locations are up, with most stating that they may use these locations extra within the coming 12 months than they did in 2019.”
