Asia is spotlighted in SITE Foundation’s third long-form study on the nature, purpose and direction of incentive travel.
The report, which was released yesterday, uses data from the Incentive Travel Industry Index (ITII), SITE’s collaborative research project with Financial & Insurance Conference Professionals (FICP) and The Incentive Research Foundation (IRF).
“When we deep-dove into the data from over 2500 ITII submissions, we realized there were multiple regional and sectoral narratives hidden therein. The scale and depth of the regional and sectoral data made it possible to follow these underlying narratives and produce three standalone reports for two regions, Europe and Asia, and one sector, the DMC industry. It gives me great pleasure to announce the launch of the Asia study,” said Carina Bauer, CEO, The IMEX Group and president, SITE Foundation. “
Key findings/points in the Report on Incentive Travel in Asia include:
- 288 responses – 30 percent buyers, 70 percent suppliers
- Top five countries by respondents: India, China, Singapore, Thailand, Indonesia
- Per person spends reported by DMCs in Asia are significantly higher than Europe and North America
- Meetings are considered integral to incentive travel experiences for Asian buyers.
- Asian suppliers rely more on DMO for lead generation than suppliers in other global regions.
- In Asia value for money and price are far more integral to destination selection than Europe and North America.
Details of the report will be shared next week (Tuesday, June 2, 2020) in a special Asian webinar organized by SITE China with panelists from China, Macau and Singapore. Register HERE.
“Incentive travel has been a prized sector within the business events industry in Asia ever since towering pioneers like Jacques Arnoux, Anthony Wong, Bob Guy and the late, great Jane Schuldt—all proud and prominent members of SITE—brought the sumptuous secrets of Asia as a regional destination to the global incentive travel market in the 1980s. The APAC region is dynamic, strong, and robust both as a collection of incredible destinations and an assembly of source markets and this is evident from this important study,” said Selina Sinclair, CITP, CMP, SMMC, global managing director, Pacific World and SITE Foundation trustee.
“SITE is a global organization of 2500 members living and working in over 90 countries. These regional and sectoral reports express our commitment to our members, providing important perspectives on how incentive travel is evolving as a business tool across the world,” said Didier Scaillet, CIS, CITP, CEO, SITE. “Since our hugely successful global conference in Bangkok, Thailand in January 2019, membership numbers in Asia have been growing incrementally. We’re proud to provide this substantial report as a key contribution to the advancement of incentive travel in this massively important global region.”
Details on all three reports can be found on SITEGlobal.com.