Tourism Industry News
Incentive Travel Remains Preferred Business Strategy
A new study just released from the Incentive Research Foundation (IRF) at its 2009 Invitational reveals that despite the ongoing impact of the economy on incentive travel programs, a majority of incentive practitioners are unlikely to switch from travel incentives to another program initiative.
The IRF “Incentive Industry Trends Outlook 2009” Pulse Survey indicates that while incentive travel programs will indeed be altered due to budget constraints, their utility as a strategic business tool persists. Incentive travel providers, corporate incentive travel buyers, suppliers (e.g., hoteliers) and others participated in the survey. Their answers reveal a shift in award selection decisions in merchandise programs and budgets for incentive travel programs and note the political landscape’s impact on the industry, among other findings.
“Amid the economic downturn and intense public scrutiny of motivation and awards programs, savvy business professionals continue to realize the power of incentives to help achieve business goals, even when they may need to alter programs due to cutbacks,” said Rodger Stotz, chief research officer of the IRF.
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