2024 Incentive Travel Index
Inspiring Research Foundation 2024 Incentive Travel Index (ITI) was presented in October with SITE at IMEX America, but key points were discussed in a recent webinar hosted by IRF President Stephanie Harris. Joined by: Chris JohnsonDirector of Corporate Events and Sports Partnerships Land O'Lakes and Richelle SewellChief Revenue Officer a 10The webinar focused on motivating professionals on how to deliver outstanding travel programs within the budget constraints of ITI reporting. Although the survey conducted for the study was international (2,800 respondents from 19 countries), the group focused primarily on data reported by 56% of North American respondents representing third-party incentive travel companies, Enterprise program owners, vendors and DMOs. Here are some highlights from the panel discussion: More business options Cash Reward Travel Awards; Surveys show travel awards are expected to increase by 37% in 2025 and by 45% two years later. Only half of the respondents said they Budget Matching inflation; the rest said the budget was flat. The group's…
CEIR releases third quarter 2024 index results
U.S. B2B exhibition industry continues to grow Submitted by CEIR Dallas – The Center for Exhibition Industry Research (CEIR) announced today that the U.S. business-to-business (B2B) exhibition industry is picking up after a slight slowdown in the second quarter of 2024. Performance of Completed Events - Especially in terms of exhibition attendance - reduced (...) The post CEIR Releases Q3 2024 Index Results appeared first on Exhibit City News.
CEIR Q3 2024 Index Results Show Exhibition Growth
DALLAS – The Center for Exhibition Industry Research (CEIR) has released its third quarter 2024 index results, a measure of overall exhibition performance, which indicate growth in the U.S. B2B events industry. “The third quarter index results demonstrate the industry’s continued recovery, with exhibitors and exhibition spaces leading the way,” said CEIR Vice President of Research IPC Nancy Drapeau. “However, attendance is lagging and needs to be monitored. According to Oxford University, high Travel costs may lead organizations to send fewer employees, hoping that as costs come down, more will be sent.” Key statistics related. Stats showing plateauing – TSE dashboard records flat third quarter performance According to CEIR, the index's results are consistent with the performance of the U.S. economy - annualized GDP growth of 2.8% in the quarter, personal consumption expenditure deflator growth of 2.3% year-on-year, and real disposable income growth of 1.6% annualized - despite high Interest rates remain a risk. CEIR believes the United States will…
2024 Incentive Travel Index
Incentive travel buyers expect activity and per-person spending over the next two years to exceed 2024 levels. However, they also reported concerns about rising costs, attracting talent to the industry, and safety concerns. Incentive travel index is a joint initiative of the Incentive Research Foundation (IRF) and the Society for Incentive Travel Excellence (SITE), and is conducted in partnership with Oxford Economics. This annual study reports on destination preferences, program content, budgets and perceptions of the strategic importance of incentive travel. This year’s report also takes a pulse on hot topics such as technology, artificial intelligence, climate issues and sustainability. “Key workplace trends are increasing the strategic importance of incentive travel,” said IRF President Stephanie Harris. “Retention of talented employees and a competitive advantage in recruitment are considered increasingly important, and more recently Trends such as a new generation of qualifiers and leaders and a more distributed workforce.” “Incentive travel buyers are increasingly looking for something new, with more than…
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