­Worldwide, 20th September: IBTM World’s 2023 Incentive Travel Report showed a strong recovery in incentive travel with companies eager to reward employees with incentive travel benefits. IBTM World’s report forecasts that global market value of the sector will reach US$217 billion by 2031 if current annual growth rate continues.

The report stated that the incentive travel industry is currently growing at an annual rate of 12%, and its predicts that the number of people participating in incentive travel programmes worldwide will grow 61% in 2024 compared to the same figure in 2019.