The Power of Incentive Travel

The Incentive Research Foundation has recently released 7 Incentive Travel Stats Everyone Should Know.

These statistics are US based stats and sadly we don’t have access to the same compelling data for Australian and New Zealand businesses and our local industry.

However, they are still relevant to the general industry and the positive effects the implementation of Incentive Travel as part of your Incentive Strategy will have on your businesses performance.

1. 46% of U.S. businesses use incentive travel
2. U.S. Businesses spend $22.5 Billion annually on incentive travel
3. Organizations that provide non cash rewards such as incentive travel have 3 times higher revenue increases
4. 100% of Best-in-Class companies (those with the highest customer retention and sales growth) offer group travel to recognize year-end sales success.
5. 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.
6. Properly designed and executed incentive travel programs can increase sales productivity by 18% and produce an ROI of 112%.
7. Per person incentive travel budgets are now up to an average of $3,440.

Some pretty compelling statistics in there!