“Incentive travel continues to be on the upswing and is predicted to grow significantly through 2016,” concludes the Site International Foundation, which yesterday released the results of its fourth annual “Site Index Annual Survey.”
“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,” Site International Foundation President Kurt Paben said in a statement. “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.”
Launched in 2010, the Site Index Annual Survey examines both internal and external challenges to the sector and how these factors impact the stability and growth of the market. Key findings from this year’s survey include:
• Optimism for incentive travel is at a four-year high: The majority (87 percent) of survey respondents indicated that the use of incentive travel will increase or substantially increase in the next one to three years with nearly half (48 percent) of respondents more optimistic about the short term (the next six months) than they were in 2012 (33 percent).
• Planners are under increasing pressure to deliver results: The study confirmed increasing pressure on planners to measure ROI and/or ROO. Seventy-nine percent (79 percent) of respondents expect this requirement to grow in the next 12 months, and 82 percent expect significant increase over the next one to three years.
• Convergence of business meetings and incentive travel will increase: Nearly three-quarters (72 percent) of survey respondents predict there will be an increase in the convergence of business meetings and motivational events over the next 12 months versus 61 percent in 2012; 77 percent say it will increase over the next one to three years.
• Technology and social media are vital to motivational event marketing: The use of mobile technology has increased dramatically in the past year with respondents (80 percent) saying it is important or very important, versus 69 percent in 2012. LinkedIn is currently the most widely used social media platform at 65 percent, with Facebook following at 58 percent and Twitter at 47 percent. However, when asked about their future plans respondents 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 of 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.”
To download the full survey, visit www.siteglobal.com.
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