THE LAST WORD
The incentive industry state of play, trends and opportunities As I settle down to write this article it would be wrong of me not to pause and reflect on how the pandemic – locally and around the world – has wrecked so many businesses, careers and lives. Eighteen months in and it is still far from over and the world of work has certainly changed. By David Sand, chief executive officer and founder of Uwin Iwin.
P
eople have shown much grit and determination and some industries have grown in dynamic ways, while others have suffered and new ideas and businesses are being birthed all the time. The business of engaging people in work, rewarding, recognising and inspiring them is still very much at the forefront of this dynamic world we live in and the incentive industry has as much relevance as in any time before. During the pandemic I have been very grateful to our three international incentive industry associations that have kept up research, global insights and membership engagement. Site (Society
for Incentive Travel Excellence), IRF (Incentive Research Foundation), and the IMA (Incentive Marketing Association). Much of what I share is referenced to material created or jointly created by these fine organisations. In South Africa, and in most countries around the world, incentive travel revenues – both inbound and outbound – have come to almost a complete standstill. But this does not mean that no work has been going on. Massive efforts have been put into campaigning for postponements rather than cancellations, sometimes as many as three new dates established and then shifted and, in some cases, finally cancelled. A rather grim,
58 Business Events Africa August 2021
frustrating, and economically unproductive process. Businesses that have survived have managed to shift some of the budget towards other reward options and are now only planning trips in 2022 that will possibly be smaller group sizes. Businesses that are only involved in travel fulfilment have been worst hit, whereas those who are involved in the full services of incentive reward design, launch, management, and fulfilment have been in a far better position to weather the storms. Worldwide, there has been a significant shift and growth in digital rewards and merchandise catalogues — as much as 33 per cent reported by the IRF surveys. These www.businesseventsafrica.com
