The New Geography of Incentive Travel: Regional Reset and Reasons for Hope

by Pádraic Gilligan, Co-founder, SoolNua & Research | Consultancy, SITE

The mood music

The mood music around global trade, and by extension, around business events, now sounds like Shostakovich’s or Rachmaninoff’s darkest, most tormented pieces. Or, to use a biblical reference, it’s the Book of Job. When it seems that things can’t get any worse, they do. It feels a bit like Covid, although, Covid was a plague. In its early months, without a vaccine, we had no control over it whatsoever.

Our current woes, by contrast, are caused directly by living, breathing human beings, all in search of some kind of reputational immortality, seemingly at all costs, both to them, and to the rest of humanity. First we had catastrophic loss of life through futile armed conflicts and now we have economic war wrecking havoc on livelihoods and lifestyles.

Over a month ago I heard directly from a planner that she was re-patriating half a dozen corporate events to Canada as the client wasn’t prepared to operate them anymore in what was perceived as a hostile US. More recently I learned of a significant back-to-back US-originating incentive program cancelled out of Ireland on account of the market volatility – or was it fear of not being welcome? Who knows? Again, Jim Collins’ Stockdale paradox comes into play – face the brutal facts – but don’t lose hope. And I do believe there is hope – tiny, fragile, barely visible signs – but they are there, and we need to find them.

Maybe the mood music isn’t just Shostakovich anymore. Maybe it’s My Bloody Valentine or The Jesus & Mary Chain—cacophonous, distorted, dissonant. But buried in that thick sonic fog and haze, a melody. Beautiful, steady, true. You just have to lean in and listen.

Go on Spotify and try “Just Like Honey.”

It’s hope in the dark.

Adjustment and Reset

We’ve long understood that the majority of business events and incentive travel programs contracted within a particular region tend to stay in that region. However, between 2015 and 2020, we saw a gradual but notable rise in transcontinental incentive travel. U.S. corporates increasingly ventured to long-haul destinations like Vietnam, Thailand, and Argentina, while large Chinese groups began exploring Europe. Brazil emerged as a source market and booked programs in South Africa. Confidence in global travel grew, and emerging destinations such as Chile, Rwanda, and Montenegro began appearing on the radar as the next “hot spots”—perfect for early adopter corporates seeking novelty and distinction.

Then came Covid.

The pandemic forced everything back to basics, with travel patterns reverting to the familiar and regional. Intra-regional travel dominated once again. Yet, thanks to a strong dollar and a deep sense of cultural and operational familiarity, Europe continued to perform well with U.S. incentive groups.

Looking ahead, the regionalization trend is likely to deepen, potentially reaching levels of 90% or more of all incentive travel remaining within the originating region. This shift will require a period of adjustment for many destinations—particularly those that had grown reliant on mid / long-haul incentive traffic from US. For European destinations, this means focusing more intently on EU source markets, recalibrating strategies, and reimagining offerings to attract and retain regional business.

All that said, I passionately believe there are reasons for hope too. I set these out below.

3 Reasons for Hope

1. A Renewed Sense of Purpose and Unity

Against all odds, the past weeks and months have rekindled something fundamental in Europe. Faced with war on its borders, energy shocks, and climate crisis, the continent is showing better co-ordination, clarity, and resolve. Europe’s shared legacy and values—around respectful debate, democracy, focus on sustainability, social cohesion—are coming into focus once more. And for business events, this means fertile ground for collaboration, dialogue, and meaningful convening.

2. Soft Power That’s Stronger Than Ever

Europe’s cultural capital and ethical leadership have never been more in demand. In a polarised world, the continent offers not just beautiful destinations, but thoughtful platforms for global gathering. From Barcelona to Berlin to Bruges, clients are seeking experiences that align with ESG ambitions, inclusivity standards, and a sense of purpose. Europe doesn’t just host events—it gives them soul.

3. A Deep Bench of Talent and Infrastructure

Europe doesn’t just have the venues and the trains—it has the people. A new generation of multicultural, multilingual, mission-driven, tech-enabled talent is emerging across the continent, ready to reimagine—not just reboot—the business events industry. This is more than recovery. It’s reinvention.

So yes, the soundtrack of now may be dark, discordant, even unlistenable at times. But listen closely and you’ll find the thread.

A true, unwavering melody, carrying us forward.

Even now, especially now—there is hope.