Perx Rewards (https://perxreward.com), a premier provider of tax-free rewards in Ireland, has identified a significant increase in rewards spending on travel from 2022 to 2023, underscoring a shift in consumer priorities towards experiences enhancing well-being. Data reveals that travel spending surged by 31% following enhancements to Ireland’s Small Benefits Exemption Scheme. This highlights a trend of consumers valuing holidays and travel, over material goods, with spending on items like clothing declining by 13%. Decreased spending on clothing emphasises the growing preference for meaningful experiences over material possessions.
This increase in travel spend highlights the scheme’s impact, which provides businesses with valuable tax benefits, enabling them to offer their employees up to €1,000 in tax-free rewards each year. This initiative has likely contributed to the surge in travel spending, as rewards associated with well-being not only enhance employee satisfaction but also contribute to a more positive work environment, thereby benefitting employers.
Natasha Brasier from Perx Rewards comments, ”In the face of economic challenges, the data highlights a significant lean towards travel and well-being among consumers. As businesses adapt to evolving spending habits, Perx Rewards is at the forefront, providing tailored solutions. Our platform allows employees to redeem rewards online, in-store, and worldwide.”
Related: The Best Travel Credit Cards for 2023 Trips: Your Ticket to Travel Savings.
Case Study Spotlight
”Just Eat has been using Perx to reward staff for over eight years. For us, it’s a simple and effective way to give back to our teams and encourage the highest performance. I highly recommend Perx. The reward cards are easy to manage, very quick to deliver and most importantly, our staff love them,”
explained Amanda Roche-Kelly, Managing Director Ireland at Just Eat.
Key Benefits of Perx Rewards for Employers and HR Professionals
- Boosting Employee Morale with meaningful rewards recognising hard work, enhancing job satisfaction and cultivating a positive work environment
- Enhancing Performance through a well-structured rewards system is a significant motivator, encouraging employees to excel
- Tax-Efficient Rewards utilising Ireland’s Small Benefits Exemption Scheme to provide up to €1,000 in tax-free rewards annually offers advantages over traditional pay raises and associated complexities such as pension contributions, employer taxes, and insurance costs
- Eco-Friendly Options like choosing digital Perx Rewards to support sustainability while enjoying instant access to rewards
- - Simplicity and Convenience by experiencing a streamlined process from ordering to distributing Perx Rewards
- Versatility for All Scenarios as Perx is adaptable for any reward scenario, whether recognising an individual or a team
Perx Rewards offers a comprehensive solution aligning with the evolving needs of employers and employees, fostering a positive work environment and driving organisational success.
Also read this FintechZoom article: Best Rewards Credit Cards for Your Lifestyle: Compare and Choose.
About Perx Rewards
Perx Rewards, based in Ireland, is the premier provider of tax-free rewards, catering to businesses ranging from SMEs to large corporations. Our innovative platform combines the convenience of digital and physical cards, emphasising eco-friendliness, user-centric design, and optimal Irish tax advantages. As a versatile solution, Perx Rewards adapts to the needs of organisations of all sizes, seamlessly offering a tax-free reward of up to €1,000 annually to employees.
