A pilot study of the Finnish incentive market has been completed. The aim of the survey was to clarify the volumes, destinations and financial impact of the incentive industry in Finland in 2005, as well as the…
A pilot study of the Finnish incentive market has been completed. The aim of the survey was to clarify the volumes, destinations and financial impact of the incentive industry in Finland in 2005, as well as the countries of origin of incentive visitors to Finland. The study was commissioned by the Finland Convention Bureau (FCB) from the Finnish research company Taloustutkimus Oy.
Incentive travel can be defined as a motivational tool used by corporate management to reward employees for work performed well. Incentive visits are customised according to the specific wishes of the sponsoring company and generally include various activities and possibly meetings or training events, as well as accommodation and dining. Among the groups targeted by the survey, 65 percent included a meeting or training event.
Net sales over EUR 36 million
The study was based on a questionnaire sent to 65 companies active within the incentive industry in Finland. Of these, 63 percent responded to the questionnaire. The combined net sales from incentive travel of the participating companies was approximately EUR 24.9 million, of which EUR 9.5 million came from abroad.
The share of those companies who did not respond to the survey was estimated on the basis of averages and volumes. Accordingly, the total combined net sales of companies that responded and did not respond to the questionnaire was EUR 36.1 million, of which EUR 15.4 was generated by foreign visitors.
Total visitors over 46,000
The number of incentive groups among companies who responded to the survey totalled 2,569, of which half came from Finland and the other half either foreign or mixed. In terms of total numbers, most foreign groups arrived from Germany and Spain, while most foreign visitors in terms of individuals came from France, Germany and Russia. Approximately 59 percent of incentive travel assignments came through foreign agencies.
Almost 80 percent of incentive groups consisted of less than 50 people, and only around 3 percent of groups had over 200 people. The most popular destinations in Finland were the regions of Uusimaa (1,154 groups) and Lapland (991 groups), followed by Pirkanmaa, Southwest Finland and South Karelia. The total combined number of incentive visitors was 46,048.
Economic impact over EUR 44 million
The average price per person per day among incentive visits was EUR 320 and the average duration of stay 3 nights. Multiplied by the total number of incentive visitors, the economic impact of incentive travel in 2005 amounted to EUR 44.2 million, of which EUR 16.8 million came from abroad.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
