RSS icon

Top Stories

Survey Finds Incentive Travel Budgets Stable

September 8, 2006
Recommend (0) Comments (0)
Related Topics: Recognition, Featured Article, Compensation, Benefits
Reprints
A 2006 incentive travel user survey by Incentive, an industry trade publication, provides a snapshot of current practices and trends. The publication last surveyed its readers on these elements three years ago. Its most noteworthy finding, in light of the new scrutiny of incentive travel expenditures, is that 63.2 percent of the 171 respondents expect that procurement or purchasing departments will have an impact on incentive travel decisions and budgets beginning in 2007. Here are other results:
 

Travel Profile

Number of employees

Average

1,128
Less than 10049%
100-49920.9%
500-9996.5%
1,000-4,99910.6%
>5,00013%
 
Annual incentive travel expenditures
Average$392,825
<%50,00028.9%
$50,000-$99,99913.3%
$100,000-$249,99915.8%
$250,000-$499,9999%
$500,000-$999,999 9.2%
$1 million-plus 23.8%
 
Budget change since last year
No change45.2%
Up 5%-15%31%
Up 16%-25%7.6%
Up 26-50%2.8%
Up >50%0.7%
Down 5%-15%8.1%
Down 16%-25%2.6%
Down 26%-50%1.1%
Down >50%0.9%
 
Budget projections for 2007
Anticipate budget increase 48.4%
Anticipate no change43.1%
Anticipate budget decrease8.6%
 
Types of incentive travel used
Both group and individual56.6%
Group only28.1%
Individual only15.3%
 
Typical group size
Average88
<2527.2%
25-4919.3%
50-9918.6%
100-19919.3%
>20015.6%
 
Trip winners
Internal salespeople65.9%
Non-sales employees39.5%
Dealers/distributors39.5%
Note: Some respondents indicated more than one group is included in their programs.
 
Program objectives
Increase sales69.6%
Build morale55.1%
Improve employee loyalty44.9%
Build customer loyalty42.6%
Foster teamwork41.9%
Increase market share41.3%
Improve customer service37.3%
Sell new accounts32.9%
 
International destinations
Caribbean, not including Bermuda41.3%
Mexico40.4%
Western Europe29.1%
Bermuda19.5%
Eastern Europe15.9%
Australia/New Zealand/Pacific Islands14.7%
Asia10.6%
Africa8.2%
Note: Many respondents indicated multiple destinations are used each year during the course of their programs.
Source: Incentive, Travel Buyer’s Handbook Survey 2006

Workforce Management Online, September 2006 -- Register Now!

Recent Articles by John Buchanan

Comments

Hr Jobs

Loading
View All Job Listings