SITE Snapshot Report: Incentive Travel Trends and Challenges

New survey offers a look inside the minds of incentive planners

A new snapshot report from the Society for Incentive Travel Excellence (SITE), sponsored by Hilton, offers a glimpse into the priorities and concerns of corporate incentive planners in 2024. Drawing on responses from nearly 100 global organizers, the report reveals key insights into decision-making, destination selection, and challenges facing the industry.

Who’s Calling the Shots?

Surprisingly, 24% of planners report directly to their CEOs, highlighting the strategic importance of incentive events for companies. Other key influencers include heads of marketing (27%), heads of events (19%), and heads of sales (13%), indicating a cross-functional approach to incentive programs.

Destination Must-Haves and Must-Avoids

Destination appeal and infrastructure remain top priorities for planners, but safety, health, and security are also critical. The report reveals that the most sought-after destination features are proof of equitable treatment for all and luxury accommodations. Surprisingly, sustainability ranks last in importance.

Preferred Information Sources

Face-to-face interactions at trade shows and fam trips, along with personal recommendations, are the preferred information sources for planners. Online research and association events also play a role.

Challenges on the Horizon

Rising costs and inflation are the top concerns for nearly all respondents. Geopolitical instability also looms large, with nearly half of planners expressing concerns. Red lines for destination selection include safety and security, extreme weather risks, and sociopolitical instability.

Key Takeaways for Incentive Travel Professionals

C-Suite Influence: The direct reporting line to CEOs for many planners underscores the strategic value of incentive travel.
Safety and Equity: Safety and equitable treatment are non-negotiable for destinations aiming to attract incentive groups.
Sustainability Paradox: Despite global concerns, sustainability currently plays a minor role in destination selection.
Economic and Political Concerns: Rising costs and geopolitical instability pose significant challenges for the industry.

The SITE snapshot report provides a valuable snapshot of the current state of the incentive travel industry, highlighting the evolving priorities and challenges faced by corporate planners. As the industry continues to adapt to a changing global landscape, understanding these insights will be crucial for success.

Click here to access the full report.

Any thoughts, opinions, or news? Please share them with me at vince@meetingsevents.com.

Photo by SITE

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