SITE Foundation Launches Long Form Geographical And Sectoral Reports On Incentive Travel
SITE Foundation has produced 3 long form studies commissioned from data compiled from the 2019 Incentive Travel Industry Index (ITII), its joint annual research project with partners, Incentive Research Foundation (IRF), and Financial & Insurance Conference Professionals (FICP).
“The depth and range of the data was such that we were able to commission individual geographical studies for Europe and Asia and a stand-alone study for the DMC sector to complement the global ITII report previously released at IMEX America.
While the Covid-19 crisis has significantly altered the incentive travel landscape in 2020, we felt the underlying regional and sectoral stories were sufficiently compelling and robust to merit release at this time.
I encourage all incentive travel professionals but particularly those living and working in Europe, Asia and those in the DMC sector to download these comprehensive studies below”, said Carina Bauer, CEO, The IMEX Group & President, 2020, SITE Foundation.
Tina Weede, CITP, CRP, President & CEO, Peerless Performance and Vice President - Research and Content, SITE Foundation added: “I’m proud that SITE Foundation has commissioned these studies which clearly reveal that rich diversity around the world when it comes to incentive travel.
The studies demonstrate how one-size-does-not-fit-all in the world of incentive travel with individual socio-economic realities shaping the nature, purpose and direction of incentive travel in different ways. Despite the differences, however, it’s clear that incentive travel brings immense value to the corporate world in whatever geographical or sectoral setting it finds itself.”
What You'll Learn In The Reports
Key Points / Findings – DMC Report
- 537 responses – 29% North America, 30% Europe, 23% Asia
- DMCs are not one-global-size-fits-all with different business models in different regions particularly in relation to business referrals
- DMCs manage between 40% and 60% of the total destination budget but this is lower among North American DMCs
- DMCs receive 60% of their business on average from agencies and 40% direct for corporate or association clients
- DMCs believe that their percentage share of overall budget will fall by 9% over the next 5 years
Key Points / Findings – Europe Report
- 517 responses – 44% buyers, 56% supplier
- Focus on 2 key source markets – Great Britain and Germany
- When compared to North America, European incentive travel programs are less luxurious, more focused on soft power and more likely to include a meeting component
- Europeans value uniqueness and authenticity of destination over the quality of hotel or resort
- No such thing as a typical European program – source markets are not aligned when it comes to overall program design
Key Points / Findings – Asia Report
Launch of ITII Report on Incentive Travel - a DMC Analysis with guests: Erica Seo, Head of Sales Asia Pacific for Pacific World; Huw Tuckett, CEO of Euromic; and Jennifer Patino, CEO of Hosts Global and Podcast host Wayne Wallgren, SITE Texas.
Webinar: Launch of ITII Report on Incentive Travel in Europe - Live Recording from PlanetIMEX's Community Day on May 12th, 2020
Webinar: Launch of ITII Report on Incentive Travel in Asia - Live Recording from SITE China's Webinar on June 2nd, 2020