Incentive Travel Market CAGR to be at 15.8% from 2025 to 2029 | $109.35 Billion Industry Revenue by 2029

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The Business Research Company's Incentive Travel Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034

LONDON, GREATER LONDON, UNITED KINGDOM, October 31, 2025 /EINPresswire.com/ -- What Is The Projected Market Size & Growth Rate Of The Incentive Travel Market?
The scale of the incentive travel market has seen a fast-paced expansion in recent years. The market which is projected to stand at $52.65 billion in 2024, is expected to increase to $60.86 billion in 2025, showing a compound annual growth rate (CAGR) of 15.6%. This increase over the historic period can be credited to factors like the rise in international business engagement, increased focus on acknowledging employee efforts, growth in tourism and hospitality industries, improvements in air travel and infrastructure, and enhanced focus and awareness on sustainable and environmentally-friendly travel alternatives.

The market size of incentive travel is projected to undergo rapid expansion in the coming years. The market is estimated to reach $109.35 billion in 2029, growing at a compound annual growth rate of 15.8%. The anticipated growth could be the result of an uplifted focus on engaging employees, the burgeoning trend of working remotely, the capability of providing customized travel experiences, a shift towards tangible rewards, and a mounting inclination among employees for experiences rather than tangible presents. Key trends over the forecasted period include adopting technology for efficient planning, focusing on distinct cultural encounters, incorporating corporate social responsibility, the rising trend of combining business and leisure travel, and partnering with local businesses and communities.

Download a free sample of the incentive travel market report:
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What Is The Crucial Factor Driving The Global Incentive Travel Market?
The demanding schedules of employees in diverse sectors are predicted to fuel the incentive travel market's expansion in the future. This rise in demanding lifestyles among employees is caused by increased job tasks and constant pressure, which makes balancing work and personal life difficult. Increased stress levels among employees enhance the appeal of incentive travel, as companies leverage it to reward dedication and offer much-needed relaxation and inspiration. For example, a labor force survey by Statistics Canada, a Canadian government agency, reported in June 2023 that roughly 4.1 million people stated they were under high or extremely high job-related stress, which represents 21.2% of the workforce. The main causes of job-related stress were overwhelming work tasks, which affected 23.7% of employees, and the difficulty of managing work and personal life, which impacted 15.7% of employees. Women tended to have higher or extremely high levels of job-related stress (22.7%) than men (19.7%). Hence, the demanding schedules of employees in various sectors are accelerating the expansion of the incentive travel market.

Who Are The Emerging Players In The Incentive Travel Market?
Major players in the Incentive Travel include:
• Booking Holdings Inc.
• Expedia Group Inc.
• Interpublic Group (IPG)
• Carlson Wagonlit Travel (CWT)
• BCD Group
• The Freeman Company
• ATPI Ltd.
• Maritz Holdings Inc.
• BI Worldwide
• Cvent Inc.

What Are The Major Trends That Will Shape The Incentive Travel Market In The Future?
Prominent firms in the incentive travel market are concentrating on generating novel solutions like travel mobile apps, aimed at augmenting the travel encounters of travel agents and their clients. Travel mobile applications are dedicated software created for smartphones and tablets that assist in planning, booking, and organizing travel-related obligations such as flights, accommodations, and local activities. For example, in March 2024, TravClan, an entrepreneurial travel tech enterprise based in India, introduced the OnTrip mobile app. This application provides bespoke travel concierge services, instant updates, round-the-clock support, and brand personalization for travel agencies. This tech-forward development stimulates customer interaction, distinguishes the market, and enables global scalability. It dramatically impacts incentive travel by enhancing service performance and operational efficiency.

What Segments Are Covered In The Incentive Travel Market Report?
The incentive travelmarket covered in this report is segmented –

1) By Source: Domestic, International
2) By End User: Individuals, Corporate Institutions, Other End Users
3) By Industry Type: Healthcare, Banking And Finance, Manufacturing, Information Technology, Retail, Hospitality, Other Industry Types

Subsegments:
1) By Domestic: Corporate Incentive Travel Within The Same Country, Regional Incentive Programs, Local Reward-Based Travel
2) By International: Cross-Border Corporate Incentive Travel, Global Incentive Programs, Multi-Country Incentive Travel For Employees Or Clients

View the full incentive travel market report:
https://www.thebusinessresearchcompany.com/report/incentive-travel-global-market-report

Which Region Is Projected To Hold The Largest Market Share In The Global Incentive Travel Market?
In 2024, Europe dominated the incentive travel market as the biggest region. The market report features regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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