Recent research of 55 member companies from the Business Travel Coalition, based in Radnor, Pa., found that 52 percent of respondents plan to increase their incentive budgets in 2005, with the average increase estimated at 8.9 percent. The average cost for incentive trips in 2004 was $5,806 for winners and their guests.
Other survey highlights:
The average number of attendees per trip was 242
The majority of trips ran five days and four nights. 83% of trips start on or run through a weekend.
The best overall value destinations (international) were cited as Canada; Eastern Europe; Malta; Mexico; Puerto Rico; St. John, USVI; Sydney; and Thailand.
Eighty-seven percent of respondents allow winners to bring guests, but only 23% of respondents allow children on incentive trips.
The number of companies that said the final site decision for their incentive trips was made by senior management: 66%
58% of respondents repeat geographical destinations.
Number of respondents that provide some other form of recognition during their incentive trip, such as plaques or other awards: 85%
76% of companies cover all expenses for winners on site, including meals, wheels, and recreation.
For more information, visit btcweb.biz.