This year’s edition of the Site Index Annual Survey reveals that optimism for incentive travel is at a four-year high, with planners and suppliers forecasting solid growth over the next three years.
The Site International Foundation has conducted the survey since 2010 with the mandate of compiling and comparing data meaningful to the incentive travel and motivational events industry. The research examines internal and external challenges to the sector and looks at how these factors impact the stability and growth of the market.
“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, Site International Foundation, “This can be attributed to an overall improving global economy, but also reflects the current state of bookings for programs that will operate within the next three years.”
Key findings include:
- 87 per cent of survey respondents indicated that use of incentive travel will increase or substantially increase in in the next one to three years
- 48 per cent of respondents are more optimistic about the short term (next six months) than they were is 2012 (33 per cent)
- 79 per cent of planners expect the requirement to measure ROI and/or ROO to grow in the next 12 months; 82 per cent expect a significant increase over the next one to three years
- 72 per cent of survey respondents predict there will be an increase in the convergence of business meetings and motivational events over the next 12 months (61 per cent in 2012); 77 per cent say it will increase over the next one to three years
- 80 per cent of survey respondents say using mobile technology is important or very important, versus 69 per cent in 2012
- The most widely used social media platform is LinkedIn (65 per cent), Facebook follows at 58 per cent and Twitter at 47 per cent
- Planners predict an increase in the use of Twitter and Facebook
“As the motivational events industry continues to evolve, it is more important than ever that professionals gain insight on how the industry is performing and be aware of what trends are shaping the future,” said Kevin Hinton, Chief Staff Officer, Site and the Site International Foundation, “Leveraging the Site Index, the Site International Foundation strives to measure what is relevant and important so companies can use this information to build sales and marketing plans that drive business results.”
This Site Index Report was made possible through the support of these sponsors: Associated Luxury Hotels International (ALHI), InterContinental Hotels Group (IHG), Creative Group, Inc. and Norwegian Cruise Lines.
Data for the Site Index are derived from the collective experiences and perspectives of a global group of incentive travel and motivational event users and providers. For this survey, responses were received from 1 42 people. The survey was supervised by Scott A. Jeffrey, Ph.D., Monmouth University, and Marion Joppe, Ph.D., University of Guelph.
To obtain a full copy of the Executive Summary of the Site Index Annual Analysis and Forecast of the Motivational Events Industry, go to Site Index.