Travel is the sixth largest U.S. industry in terms of employment and is a top 10 employer in 48 states. In 2010, the incentive travel, meetings and events segment of tourism and travel accounted for $92 billion of all business travel expense and 6.3 million jobs in the United States, or 45 percent of all travel-related employment.
These are among the compelling figures included in the latest white paper from the Site International Foundation, “Incentives Move Business – Travel and the U.S. Economy,” which addresses the strategic purpose behind the implementation of incentive travel and motivational events to achieve positive business results.
Travel incentives and motivational events are business tools proven to increase sales and profits, boost productivity, retain customers, hold on to top talent, increase company loyalty, promote teamwork and decrease turnover. When properly designed, planned and executed, incentive travel programs can be self-liquidating and will produce a measurable and verifiable return on investment. In 2012, the Site International Foundation “The Participant’s Viewpoint” study documented the perspectives of program participants confirming that incentive travel is highly effective in impacting performance.
“The ‘Incentives Move Business’ white paper was published to raise awareness and educate businesses and the general public to the facts supporting the positive impact incentive travel and motivational events have, not just on companies, but on the U.S. economy,” commented Stephen Powell, Immediate Past President of the Site International Foundation and Senior Vice President of Worldwide Sales for IHG (InterContinental Hotels Group). “The fact that programs, when properly designed and managed by experienced professionals, can be implemented with no incremental expense and often produce incremental revenue makes it hard to argue other than in favor of the use of incentive travel as a powerful tool for today’s business. Very strategically, motivational travel is the solution to myriad challenges faced by businesses.”
The mission of the Site International Foundation is to educate the broader community to the proven effectiveness of incentive and motivational travel. This is accomplished by sponsoring primary research and disseminating those findings, as well as the research of other industry organizations, through Site members and directly to industry and business media. The Foundation is committed in its efforts to promote the worldwide importance of this business travel segment, supported by sound research and case studies. Although the current study is focused on the United States using research commissioned by numerous travel associations under the auspices of the U.S. Travel Association, it is the Foundation’s commitment to maintain a global focus so that similar analyses can be conducted for other countries.
Read the “Incentives Move Business – Travel and the U.S. Economy” white paper here.
About the Site International Foundation
The Site International Foundation has provided research and educational programs that assist business executives, practitioners, and professionals since 2006. The Foundation is the research arm of Site, a membership community that represents 90 countries and nearly 2,000 professionals who deliver best-in-class solutions and insights to maximize the business impact of motivational experiences regardless of industry, region or culture.