The future of incentive travel

Take a moment and stop. Think about all we have seen and gone through in the last couple of years. We have all had to adapt to a new way of living, of working, and even to a completely different type of interaction with one another.  

As event professionals, we had to reinvent ourselves and our businesses, look outside the box and develop new skills.   

Today, when we look at the events and incentive travel sector, we see a different industry, an industry that has evolved and changed in so many ways and that is now ready to thrive again!  

So, what does the future of incentive travel look like?

The comeback of incentive travel

According to the IRF’s 2022 Trends Report (Incentive Research Foundation), incentive programmes will be more important than ever before.   

Due to the “Great Resignation” and the fact that people are looking more for jobs that can better fit their work-life balance, companies are now trying their best to retain their top talents and be more competitive in the job market. And there is no better way than planning a robust and exciting incentive programme.  

The IRF’s Industry Outlook for 2022 reports that overall incentive budgets are expected to rise by 34% in 2022, with an increase on per-person spend up to $806, compared to $764 on the previous year.  

Businesses are now looking more into employees' health and wellbeing, together with reward and recognition and employee engagement. And for this reason, many companies are including incentive travel programmes in their incentive packages.  

On one hand, businesses now need to rebuild or reconfirm their workplace culture and values; they need to reconnect with their employees and reward them by creating unique and memorable experiences.   

On the other hand, employees want to feel part of a team again, they want to share things with their colleagues and peers, and they want to know that the company recognises all their hard work and commitment.  

Destination, sustainability and authenticity

The Destination

As per the latest SITE’s White Paper, Destination selection remains one of the top considerations when planning an incentive travel programme.   

When choosing the appropriate destination, incentive planners need to look first at its safety, together with its accessibility and infrastructures. The overall destination appeal is also a crucial element, including the weather, the landscape, the culture, and the brand image of a nation.

Sustainability

In addition, today’s incentive travel programmes need to be relevant and meaningful. Their impact, not only in terms of employee engagement but also socially and environmentally, has now become very important for many companies.  

Employees want to live and share meaningful experiences while appreciating life's small and simple things. They want to interact more with the local communities and raise awareness of local cultures. They want to know that those unique and original experiences they are enjoying are also having a positive impact on the destination.   

Therefore, we will see more and more companies including sustainability and CSR activities in their incentive programmes.  

Authenticity

As we mentioned in our earlier blog, creativity and authenticity have always been very important when planning an incentive travel programme. But today, these two elements have become fundamental.   

People are now looking for something different, and incentive planners need to go that extra mile to really create an authentic and creative experience.   

You do not always need a big budget to create something original. It is the small things and the attention to detail that can create a sense of uniqueness and personalisation.   

This can be achieved, for example, by providing choice through itineraries or gifting exceptional experiences, or even just by allowing participants to enjoy some additional free time during the trip.  

Embrace the hybrid model

As for everything, it is always a matter of balance.   

During the pandemic, the "virtual" represented the only way we could connect and interact, and, after all these months, we have all learned the pro and cons of digital interactions. We all agree that the virtual cannot replace live experiences and incentive travel programmes.   

But what happens when we create a balance between live and digital?  

Today, as live events return, many event professionals have decided to continue to include hybrid elements in their events.  

Hybrid events are being used to reach more people, broaden participation, and boost motivation. If more people get the chance to see what happens during a live event, they will feel more excited and motivated to work harder to reach the highest performance level and so attend in person the following year.  

Contact our Eventful experts today if you want to design a unique and memorable incentive travel programme!