7 Incentive Travel Stats Everyone Should Know
In honor of the first North American Meetings Industry Day, the IRF has compiled seven quick, important incentive travel stats that every incentive travel planner, manager and executive should know. Thank you to the many industry organizations that day in and day out create incentive travel programs and meetings that motivate.
- 46% of U.S. businesses use incentive travel. [Incentive Federation]
- U.S. Businesses spend $22.5 Billion annually on incentive travel. [Incentive Federation]
- Organizations that provide non cash rewards such as incentive travel have 3 times higher revenue increases. [Aberdeen Research]
- 100% of Best-in-Class companies (those with the highest customer retention and sales growth) offer group travel to recognize year-end sales success. [Aberdeen Research]
- Incentive travel is not just for sales. Of companies that run awards programs, 53% use incentive travel to recognize sales, 43% to recognize employees, 33% to recognize channel partners, and 27% to recognize customer loyalty. [Incentive Federation]
- Properly designed and executed incentive travel programs can increase sales productivity by 18% and produce an ROI of 112%. [Incentive Research Foundation]
- Per person incentive travel budgets are now up to an average of $3,440. [Incentive Research Foundation]
For more education and research on meetings and incentive travel, go the IRF's website where you can browse hundreds of research and education articles by topic, award type, role, and industry or go to the North American Meetings Industry Day website to find an event near you.