Incentive Travel: Just A Little Niche With a big impact

With United States companies spending greater than USD$240 billion in 2008 alone, incentive journeys, conferences and occasions taken into account 15% of travel spending. Incentive travel alone taken into account USD$13 billion for the reason that same year, before declining considerably throughout the financial crisis. What’s promising…and important news…is the fact that United States incentive travel is anticipated to improve by 29% this year, revitalizing the marketplace segment to within 12% of healthy 2008 figures. When taken into consideration that incentive program spending has a tendency to greater than double the amount daily expenses of the average tourist stay, this really is one specialized niche that can’t be undervalued.

Caribbean nations still gain a high position inside the conferences and incentive travel specialized niche. Many United States planners understand the region’s consistency of surf, sun and sand, as lengthy as individuals natural attributes are based on a high end infrastructure that may accommodate high finish incentives.

While confidence within the Caribbean continues to be strong, trends claim that planners are searching ahead to unique and new encounters that provide a brand new method for their programs. That trend presents a thrilling chance for destinations, DMCs, resorts and hotels whose offers and marketing initiatives reflect innovative and new ideas.

Because of so many options to select from worldwide, destinations searching to take advantage of the conferences and incentive travel specialized niche must stay up with shifting industry trends. Within the blink of the eye, a poor experience, a political crisis, a clear, crisp currency fluctuation, etc. can alter the attitude…and direction…of planner attention. Destinations that demonstrate the capability and readiness to adjust to these shifting trends will fare much better on the market than individuals that disregard the issues.

Achieving sustained success within the conferences and incentive travel marketplace is a lengthy-term objective, achieved through concentrated marketing and advertising initiatives that address the particular and different needs of the profession. Destinations must identify hotels, resorts, restaurants, unique venues and attractions that fit mid to higher level incentive programs, then create tailored packages and develop dedicated ads. Short-term initiatives and special program offers may be used to develop lengthy-term initiatives targeted at sustaining curiosity about the destination.

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