The highly esteemed Incentive Research Foundation (IRF), the Society for Incentive Travel Excellence (SITE), and Oxford Economics have proudly unveiled the 2023 edition of their Incentive Travel Index (ITI). This study, now in its landmark sixth year, continues to push the boundaries of what we understand about the global incentive travel market and its far-reaching impact on many sectors.
In an era where businesses are constantly evolving, and industries are fast-paced, the ITI has established itself as the bellwether for the incentive travel industry. Its yearly data-driven insights have become invaluable, acting as both an informational resource and a strategic guide for decision-makers across the globe.
Stephanie Harris, CEO of the IRF, commented on the significance of ITI, explaining, “ITI is the world’s only global survey of incentive travel, providing data from, and on, both source markets and destinations. It’s as relevant to a DMC in Singapore as it is to a corporate end user in Spain, asking seminal questions on the nature, purpose and direction of incentive travel.” She added, “ITI is both tactical and strategic, capturing trends in destination selection on the one hand and insights around mission and purpose on the other. We’re immensely proud of its overall contribution to our industry.”
Notably, this year’s ITI edition digs deeper into the ongoing, pivotal transformations within the business landscape. With the collaboration of Oxford Economics, the survey has evolved to address critical emerging trends and challenges.
Annette Gregg, CMM, MBA, CEO of SITE, shared this exciting development, “This year we worked with Oxford Economics to build an even more efficient and effective survey instrument, adding questions on the future of incentive travel in the age of AI, climate change and dispersed workforces, while maintaining the ever-popular focus on destination selection and program inclusions.”
The outcome of the ITI 2023 will serve to navigate the direction of incentive travel in the coming years, providing an actionable roadmap for practitioners in the field. The anticipation of these survey results has already sparked conversation across sectors, from corporations to travel agencies and beyond.
Aran Ryan, director of industry studies with Oxford Economics, emphasized the significance of this collective insight. “Incentive travel planners and stakeholders have distinct insights on the new ways organizations are adapting the use of business events to achieve key goals,” he said. “We look forward to the results of this important snapshot.”
The Incentive Travel Index is poised to remain a crucial resource for insight and forward-thinking strategy as the world adapts to the realities of the digital age, AI innovations, climate change, and remote workforces. Its influence and importance will continue reverberating throughout the global business landscape in 2023 and beyond.
Written by: Supaporn Pholrach (Joom)
