Incentive Travel in Flux: A Search for What’s Next

The Incentive Research Foundation (IRF) and the Society for Incentive Travel Excellence (SITE) recently unveiled the 2025 Incentive Travel Index at IMEX America. Produced with research partner Oxford Economics, the eighth edition offers a panoramic global view of incentive travel today and tomorrow, based on insights from 2,700 professionals across 85 countries.

The 2025 edition of the Incentive Travel Index forecasts modest growth through 2027, tempered by mounting concerns around rising costs, global instability and shrinking optimism. Expectations for 2026 show flat usage of incentive travel programs in terms of participant volume.

Several powerful forces dominate the 2025 edition: geopolitical risk, trade tensions, artificial intelligence (AI) disruption and demographic change. Regions are consolidating incentive activity locally, while demand for U.S. destinations is in sharp decline. At the same time, AI is beginning to impact program design and delivery, and generational shifts are reshaping destination preferences, program formats and reward structures.

“While 75% of respondents agree that the value of incentive travel remains strong, they also say the business gets tougher every year,” says Stephanie Harris, IRF president. “Incentive professionals are under pressure to deliver more with less — without compromising quality or impact.”

“Buyers continue to seek out something new,” according to Annette Gregg, SITE CEO. “Nearly 70% are seeking destinations they haven’t used before — and 63% already have new ones booked for 2026 or 2027. What hasn’t changed is what matters: direct air access, top-tier accommodations and a trusted destination management company remain top priorities.”

The report was launched to a standing-room-only crowd at IMEX America, and moderated by Andy Schwarz (IRF) and Pádraic Gilligan (SITE), with live expert commentary from Genny Castleberry (Brightspot), Anesa Martin (Hilton) and Justin Myers (Bishop-McCann).

For more key insights from the Incentive Travel Index 2025 and past editions, visit incentiveindex.com. Now in its eighth year, the index is a joint research initiative from IRF and SITE, and supported by Oxford Economics. The 2025 study surveyed professionals in five roles — corporate end users, third-party agencies, destination management companies, destination suppliers and destination marketing organizations — between May and July 2025.