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More than 80 percent of the value of a business is in its intangibles. Non-cash awards will focus on brand, culture, and innovation.
Optimism in the incentive travel industry lead to an average annual per-person spend of $3,915, a 4 percent increase.
60 percent of respondents said costs are rising faster than budgets.
More than 70 percent of respondents said they had made changes to program design, communications, rewards, and/or reporting in order to comply with regulations.
From PCI compliance to concerns over the EU’s General Data Protection Regulation, program participant data security is a priority.
Predictive analytics, artificial intelligence, and augmented reality capabilities will be available for incentive travel, rewards, and events.
The largest net increase (38 percent) reported by survey respondents was the inclusion of wellness program elements, including fitness, food, and comfort.
Planners are interested in new and different destinations, for example Puglia, Italy (shown) versus Rome.
There is a strong desire in 2018 not for more choice, but for more meaning.
Mid-size firms on average spend almost half a million dollars annually on gift cards across all programs, while the largest firms each spend over $1 million annually.
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