Incentive travel provides recognition and motivation to individuals and teams for meeting or exceeding established corporate goals and objectives. Incentive travel experiences offer participants memorable and impactful rewards for their contributions and accomplishments. Incentive travel programs are curated to align with the brand image and cultural values of organizations to enhance employee morale, satisfaction and loyalty. Incentive travel packages typically consist of travel, accommodation, curated activities and entertainment events at desired luxury destinations worldwide.
The global incentive travel market is estimated to be valued at USD 44.56 Bn in 2024 and is expected to reach USD 89.40 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 10.5% from 2024 to 2031.
Key Takeaways
Key players in the incentive travel market: Key players operating in the incentive travel market include American Express Global Business Travel, BCD Travel, Carlson Wagonlit Travel (CWT), FCM Travel Solutions, Maritz Travel Company, Conference Direct, Incentive Concepts, Ovation Travel Group, The Incentive Travel Council, Reed Exhibitions, HelmsBriscoe, Travel Leaders Group, TUI Group, Capita Symonds, and JTB Corporation. These players curate customized incentive travel programs for their corporate clients worldwide.
Growing demand: There is Incentive Travel Market Trends for experiences from organizations across industries to attract, retain and motivate talent. Incentive travel is increasingly being utilized by companies as an effective non-monetary reward and recognition strategy to influence human performance and behavior.
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