How can planners create a WOW Corporate Incentive Travel program on a limited budget?
Truth 4. Good Value: Make it cost-effective
Our research showed that while 24% of planners anticipate an increase in CIT budgets, 28% anticipate a decrease, with 31% anticipating no change.
Due to this, many planners face the challenge of meeting increased expectations for Corporate Incentive Travel while continuing to work within operational realities including:
> Increasing costs with the same or reduced budgets.
> Shorter lead times (for some).
> Logistical issues (flights, hotel capacity, different time zones, internal travel, visas, perceived safety of a destination etc.).
This presents an obvious dilemma. How can planners create a ‘wow’ experience on the same budget or less?
The research tells us CI travellers have an appetite for different, untapped experiences. This allows CIT programs to consider bypassing traditional costly iconic destinations and opt for more affordable, up-and-coming destinations.
This highlights that CIT planners with adequate research and creativity can deliver those WOW experiences within a given budget.
The key takeout for destinations is never assume what may be routine to you as a resident is unexciting to a visitor. Sometimes the most innovative and valuable experiences are right in your own backyard - accessible, scaleable and cost-effective.