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Financial firms raising the level of incentive travel.

Article Excerpt
Incentive travel among financial corporations seems to be on the rise--some analysts estimated more than a 20 percent increase in such travel during the past several years--due to a strengthened economy, an increasing emphasis on global business and a growing comfort level with federal regulatory requirements.

"There's an increased demand. It's not to the 1999 to 2000 level, but it is certainly improving from the 2002 and 2003 fiscal years," said Bill Boyd, president of the Society of Incentive and Travel Executives and president and CEO of Sunbelt Motivation and Travel Inc.

Financial and insurance companies slowed their use of incentive travel around 2003 after high-profile corporate controversies led to increased scrutiny over how corporations spend money. "Nobody knew what action a CEO could take," Boyd said. Financial and insurance companies had a particularly difficult time because regulatory changes were directed toward them. Now, they've started to adapt,...

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