The Incentive Research Foundation (IRF) and SITE today released the results of their 2024 Incentive Travel Index (ITI).

This year’s ITI shows that overall, growth is projected for the incentive travel industry through 2026. Incentive travel buyers expect activity and per person spending above 2024 levels over the next two years. However, they also report concerns around rising costs, attracting talent to the industry, and safety considerations.

Key insights in the 2024 Incentive Travel Index include:

• By 2026, 45% of buyers expect incentive travel activity to be above or significantly above 2024 levels, with 55% expecting spending increases to match inflation or improve programs.
• 67% of respondents agreed that younger generations of qualifiers will cause a powerful “retool” of incentive travel
• Buyers are increasingly looking for something new and seeking destinations they haven’t used before (70%). Resorts – both all-inclusive and regular – have gained popularity (42%), while destinations within shorter distances from participant origin should see increased use (40%).
• Traditional forms of program qualification will continue to be the most frequently used, although company-wide programs and events that bring together dispersed colleagues show that the incentive travel ecosystem is also broadening beyond its traditional base.
• Incentive travel professionals face short- and long-term challenges, with inflation and workforce issues cited the most. Some challenges that are less prevalent in the short-run are expected to grow in the future, such as climate change and an increased focus on sustainability.
• In North America, free time has risen to the feature most frequently cited as important to a successful incentive travel program, while group activities are relatively more important elsewhere.
• Nearly two-thirds of respondents believe generative AI will soon be used (or already is being used) effectively within incentive travel. Most expect uses such as for preparing program materials and planning, forecasting, and budgeting.

To read the full 2024 Incentive Travel Index study as well as reports from previous years click HERE.

About the 2024 Incentive Travel Index

Now in its seventh year, The IRF and SITE work with research partner Oxford Economics to create the annual report on the state of incentive travel, providing data on current and future evolution. The 2024 online survey was fielded globally from May – July 2024. More than 2,800 incentive travel professionals participated in the survey. Respondents represented five distinct incentive travel professional roles: corporate end user, third party agency, DMC, destination supplier and DMO.

The 2024 Incentive Travel Index has been supported by Champion Sponsors: Accor, Brightspot, Destination Canada, Hilton, Meet Hawaii; Prime Sponsor Tango; and Principal Sponsors Bishop McCann and IMEX.