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Global Business Travel Market Report 2024

Business Travel Global Market Report 2024 – By Type (Managed Business Travel, Unmanaged Business Travel), By Service (Transportation, Food And Lodging, Business Activity), By Age Group (Marketing Travel Fare Travelers Below 40 Years, Travelers Above 40 Years), By Purpose (Marketing, Meetings, Trade Shows Or Exhibitions, Product Launch, Other Purposes), By Industry (Government, Corporate) – Market Size, Trends, And Global Forecast 2024-2033

Business Travel Global Market Report 2024

Starting Price : $4000.00 $3200.00 | Pages : 175 | Published : October 2024 | Delivery Time: 2-3 business days | Format : pdf

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Description Table Of Contents Tables & Figures Market Insights Related Reports

Business Travel Market Definition

Business travel refers to the movement of individuals for work-related purposes, typically undertaken by employees or executives of companies to attend meetings, conferences, training sessions, or conduct business transactions in different locations. It encompasses both domestic and international travel and often involves expenses related to transportation, meals, and other incidental costs, all essential for conducting business activities away from the usual workplace.

The main types of business travel include managed business travel, and unmanaged business travel. Managed business travel refers to a structured corporate travel program overseen by a travel management company that handles booking, budgeting, policy compliance, and risk management to streamline and optimize business travel processes. The business travel services include transportation, food and lodging, and business activity, for age groups such as marketing travel fares travelers below 40 years, and travelers above 40 years. The various purposes include marketing, meetings, trade shows or exhibitions, product launches, and others for industry including government, and corporate.

Business Travel Market Segmentation

The business travel market covered in this report is segmented –

1) By Type: Managed Business Travel, Unmanaged Business Travel

2) By Service: Transportation, Food And Lodging, Business Activity

3) By Age Group: Marketing Travel Fare Travelers Below 40 Years, Travelers Above 40 Years

4) By Purpose: Marketing, Meetings, Trade Shows Or Exhibitions, Product Launch, Other Purposes

5) By Industry: Government, Corporate

Global Business Travel Market Size 2023 to 2028: Graph

Business Travel Market Size 2024 And Growth Rate

The business travel market size has grown strongly in recent years. It will grow from $812.89 billion in 2023 to $913.21 billion in 2024 at a compound annual growth rate (CAGR) of 12.3%. The growth in the historic period can be attributed to the industrial revolution, the increasing interconnectedness of global economies, the rise of multinational corporation meetings, the rise in the number of conferences and trade shows, and the rise of technology companies.

Business Travel Market Growth Forecast

The business travel market size is expected to see rapid growth in the next few years. It will grow to $140.99 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. The growth in the forecast period can be attributed to the growth of a strong economy, increased business activities, rise in investment in business travel, generous travel policies, and increasing globalization of multinational corporations. Major trends in the forecast period include innovations in travel technology, advancements in online booking platforms, integration of AI, prioritizing sustainability, and opting for eco-friendly travel options.

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Business Travel Market Driver: Increase In Exhibitions Driving Growth In The Business Travel Market

The increase in exhibitions is expected to propel the growth of the business travel market going forward. An exhibition is an organized event where items such as products, artworks, or information are displayed for public viewing. Exhibitions are experiencing growth as companies increasingly recognize their value in fostering direct engagement with customers and building brand awareness in competitive markets. Exhibitions serve as essential destinations within business travel, offering opportunities for companies to network, showcase products, and cultivate client relationships on a global scale. For instance, in February 2024, according to a report by UFI, the Global Association of the Exhibition Industry, a France-based association of the world's tradeshow organizers, the exhibition industry in most global markets had fully recovered from the pandemic slump in 2023, with revenues matching those of 2019 on average. Additionally, the outlook for 2024 is positive, with revenues expected to grow by an average of 15%, setting the industry up for its highest-ever revenue levels. Therefore, the increase in exhibitions is driving the growth of the business travel market.

Global Business Travel Market Major Players

Major companies operating in the business travel market are American Express Company, Delta Air Lines, United Airlines Inc., Lufthansa Ltd, British Airways plc, Travelport Worldwide Ltd, SAP Concur, Orbitz, BCD Group, Navan Inc., Carlson Wagonlit Travel (CWT), Upside Business Travel, Corporate Travel Management Ltd, Clarity Business Travel Agency, FCM Travel Solutions, Paxes, Deem Inc., TravelPerk, SOTC Travel Limited, Serko Ltd, Thomas Cook, Wexas Travel Management

Global Business Travel Market Trend: Innovative AI Integration Revolutionizes Business Travel Management

Major companies operating in the business travel market are developing innovative products, such as AI-powered flight sorting platforms, to streamline booking processes, enhance traveler experiences, and optimize cost efficiency. AI-powered flight sorting platforms are digital tools that utilize artificial intelligence algorithms to analyze and prioritize flight options based on various factors such as safety, cost-effectiveness, travel time, and traveler preferences. For instance, in July 2023, BCD Travel, a Netherlands-based business travel company, launched GetGoing, an all-in-one digital platform tailored for small and midsize businesses in the U.S., combining self-service convenience with expert support. It offers booking, policy automation, reporting, traveler safety features, and expert assistance. GetGoing streamlines travel management processes, allowing easy booking and policy setup, along with real-time reporting for cost optimization.

Business Travel Market Merger And Acquisition: American Express Global Business Travel Acquired Ovation Travel Group To Boost Service Capabilities And Growth Opportunities

In January 2021, American Express Global Business Travel, a US-based travel management company, acquired Ovation Travel Group for an undisclosed amount. The acquisition is expected to help American Express Global Business expand its market reach, strengthen its service offerings, and diversify its client base. Ovation Travel Group is a US-based travel company that provides business travel services.

Regional Insights For The Global Business Travel Market

Asia-Pacific was the largest region in the business travel market in 2023. The regions covered in the business travel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the business travel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The business travel market includes revenues earned by entities by providing services such as itinerary planning, booking accommodations and transportation, expense management, and travel insurance. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The business travel market research report is one of a series of new reports from The Business Research Company that provides business travel market statistics, including the business travel industry global market size, regional shares, competitors with the business travel market share, detailed business travel market segments, market trends, and opportunities, and any further data you may need to thrive in the business travel industry. These business travel market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Business Travel Market Report Forecast and Analysis
Report AttributeDetails
Market Size Value In 2024 $913.21 billion
Revenue Forecast In 2033 $1460.99 billion
Growth Rate CAGR of 12.5% from 2024 to 2033
Base Year For Estimation 2023
Actual Estimates/Historical Data 2018-2023
Forecast Period 2024 - 2028 - 2033
Market Representation Revenue in USD Billion and CAGR from 2024 to 2033
Segments Covered 1) By Type: Managed Business Travel, Unmanaged Business Travel
2) By Service: Transportation, Food And Lodging, Business Activity
3) By Age Group: Marketing Travel Fare Travelers Below 40 Years, Travelers Above 40 Years
4) By Purpose: Marketing, Meetings, Trade Shows Or Exhibitions, Product Launch, Other Purposes
5) By Industry: Government, Corporate
Regional Scope Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Country Scope The countries covered in the report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Additional countries that can be covered in the report for an additional fee: Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, Mexico, Chile, Argentina, Colombia, Peru, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
Key Companies Profiled American Express Company, Delta Air Lines, United Airlines Inc., Lufthansa Ltd, British Airways plc, Travelport Worldwide Ltd, SAP Concur, Orbitz, BCD Group, Navan Inc., Carlson Wagonlit Travel (CWT), Upside Business Travel, Corporate Travel Management Ltd, Clarity Business Travel Agency, FCM Travel Solutions, Paxes, Deem Inc., TravelPerk, SOTC Travel Limited, Serko Ltd, Thomas Cook, Wexas Travel Management
Customization ScopeRequest for Sample
Pricing And Purchase OptionsExplore Purchase Options

    Table Of Contents

    1. Executive Summary

    2. Business Travel Market Characteristics

    3. Business Travel Market Trends And Strategies

    4. Business Travel Market - Macro Economic Scenario

    4.1. Impact Of High Inflation On The Market

    4.2. Ukraine-Russia War Impact On The Market

    4.3. COVID-19 Impact On The Market

    5. Global Business Travel Market Size and Growth

    5.1. Global Business Travel Market Drivers and Restraints

    5.1.1. Drivers Of The Market

    5.1.2. Restraints Of The Market

    5.2. Global Business Travel Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)

    5.3. Global Business Travel Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

    6. Business Travel Market Segmentation

    6.1. Global Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    Managed Business Travel

    Unmanaged Business Travel

    6.2. Global Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    Transportation

    Food And Lodging

    Business Activity

    6.3. Global Business Travel Market, Segmentation By Age Group, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    Marketing Travel Fare Travelers Below 40 Years

    Travelers Above 40 Years

    6.4. Global Business Travel Market, Segmentation By Purpose, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    Marketing

    Meetings

    Trade Shows Or Exhibitions

    Product Launch

    Other Purposes

    6.5. Global Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    Government

    Corporate

    7. Business Travel Market Regional And Country Analysis

    7.1. Global Business Travel Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    7.2. Global Business Travel Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    8. Asia-Pacific Business Travel Market

    8.1. Asia-Pacific Business Travel Market Overview

    Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

    8.2. Asia-Pacific Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    8.3. Asia-Pacific Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    8.4. Asia-Pacific Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    9. China Business Travel Market

    9.1. China Business Travel Market Overview

    9.2. China Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

    9.3. China Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

    9.4. China Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

    10. India Business Travel Market

    10.1. India Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    10.2. India Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    10.3. India Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    11. Japan Business Travel Market

    11.1. Japan Business Travel Market Overview

    11.2. Japan Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    11.3. Japan Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    11.4. Japan Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    12. Australia Business Travel Market

    12.1. Australia Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    12.2. Australia Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    12.3. Australia Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    13. Indonesia Business Travel Market

    13.1. Indonesia Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    13.2. Indonesia Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    13.3. Indonesia Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    14. South Korea Business Travel Market

    14.1. South Korea Business Travel Market Overview

    14.2. South Korea Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    14.3. South Korea Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    14.4. South Korea Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    15. Western Europe Business Travel Market

    15.1. Western Europe Business Travel Market Overview

    15.2. Western Europe Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    15.3. Western Europe Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    15.4. Western Europe Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    16. UK Business Travel Market

    16.1. UK Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    16.2. UK Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    16.3. UK Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    17. Germany Business Travel Market

    17.1. Germany Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    17.2. Germany Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    17.3. Germany Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    18. France Business Travel Market

    18.1. France Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    18.2. France Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    18.3. France Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    19. Italy Business Travel Market

    19.1. Italy Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    19.2. Italy Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    19.3. Italy Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    20. Spain Business Travel Market

    20.1. Spain Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    20.2. Spain Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    20.3. Spain Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    21. Eastern Europe Business Travel Market

    21.1. Eastern Europe Business Travel Market Overview

    21.2. Eastern Europe Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    21.3. Eastern Europe Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    21.4. Eastern Europe Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    22. Russia Business Travel Market

    22.1. Russia Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    22.2. Russia Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    22.3. Russia Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    23. North America Business Travel Market

    23.1. North America Business Travel Market Overview

    23.2. North America Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    23.3. North America Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    23.4. North America Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    24. USA Business Travel Market

    24.1. USA Business Travel Market Overview

    24.2. USA Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    24.3. USA Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    24.4. USA Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    25. Canada Business Travel Market

    25.1. Canada Business Travel Market Overview

    25.2. Canada Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    25.3. Canada Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    25.4. Canada Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    26. South America Business Travel Market

    26.1. South America Business Travel Market Overview

    26.2. South America Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    26.3. South America Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    26.4. South America Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    27. Brazil Business Travel Market

    27.1. Brazil Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    27.2. Brazil Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    27.3. Brazil Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    28. Middle East Business Travel Market

    28.1. Middle East Business Travel Market Overview

    28.2. Middle East Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    28.3. Middle East Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    28.4. Middle East Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    29. Africa Business Travel Market

    29.1. Africa Business Travel Market Overview

    29.2. Africa Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    29.3. Africa Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    29.4. Africa Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    30. Business Travel Market Competitive Landscape And Company Profiles

    30.1. Business Travel Market Competitive Landscape

    30.2. Business Travel Market Company Profiles

    30.2.1. American Express Company

    30.2.1.1. Overview

    30.2.1.2. Products and Services

    30.2.1.3. Strategy

    30.2.1.4. Financial Performance

    30.2.2. Delta Air Lines

    30.2.2.1. Overview

    30.2.2.2. Products and Services

    30.2.2.3. Strategy

    30.2.2.4. Financial Performance

    30.2.3. United Airlines Inc.

    30.2.3.1. Overview

    30.2.3.2. Products and Services

    30.2.3.3. Strategy

    30.2.3.4. Financial Performance

    30.2.4. Lufthansa Ltd

    30.2.4.1. Overview

    30.2.4.2. Products and Services

    30.2.4.3. Strategy

    30.2.4.4. Financial Performance

    30.2.5. British Airways plc

    30.2.5.1. Overview

    30.2.5.2. Products and Services

    30.2.5.3. Strategy

    30.2.5.4. Financial Performance

    31. Business Travel Market Other Major And Innovative Companies

    31.1. Travelport Worldwide Ltd

    31.2. SAP Concur

    31.3. Orbitz

    31.4. BCD Group

    31.5. Navan Inc.

    31.6. Carlson Wagonlit Travel (CWT)

    31.7. Upside Business Travel

    31.8. Corporate Travel Management Ltd

    31.9. Clarity Business Travel Agency

    31.10. FCM Travel Solutions

    31.11. Paxes

    31.12. Deem Inc.

    31.13. TravelPerk

    31.14. SOTC Travel Limited

    31.15. Serko Ltd

    32. Global Business Travel Market Competitive Benchmarking

    33. Global Business Travel Market Competitive Dashboard

    34. Key Mergers And Acquisitions In The Business Travel Market

    35. Business Travel Market Future Outlook and Potential Analysis

    35.1 Business Travel Market In 2028 - Countries Offering Most New Opportunities

    35.2 Business Travel Market In 2028 - Segments Offering Most New Opportunities

    35.3 Business Travel Market In 2028 - Growth Strategies

    35.3.1 Market Trend Based Strategies

    35.3.2 Competitor Strategies

    36. Appendix

    36.1. Abbreviations

    36.2. Currencies

    36.3. Historic And Forecast Inflation Rates

    36.4. Research Inquiries

    36.5. The Business Research Company

    36.6. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2018-2023, $ Billion
  • Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
  • Table 3: Global Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 4: Global Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 5: Global Business Travel Market, Segmentation By Age Group, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 6: Global Business Travel Market, Segmentation By Purpose, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 7: Global Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 8: Global Business Travel Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 9: Global Business Travel Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 10: Asia-Pacific, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 11: Asia-Pacific, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 12: Asia-Pacific, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 13: China, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 14: China, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 15: China, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 16: India, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 17: India, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 18: India, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 19: Japan, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 20: Japan, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 21: Japan, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 22: Australia, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 23: Australia, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 24: Australia, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 25: Indonesia, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 26: Indonesia, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 27: Indonesia, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 28: South Korea, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 29: South Korea, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 30: South Korea, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 31: Western Europe, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 32: Western Europe, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 33: Western Europe, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 34: UK, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 35: UK, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 36: UK, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 37: Germany, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 38: Germany, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 39: Germany, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 40: France, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 41: France, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 42: France, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 43: Italy, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 44: Italy, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 45: Italy, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 46: Spain, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 47: Spain, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 48: Spain, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 49: Eastern Europe, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 50: Eastern Europe, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 51: Eastern Europe, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 52: Russia, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 53: Russia, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 54: Russia, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 55: North America, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 56: North America, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 57: North America, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 58: USA, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 59: USA, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 60: USA, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 61: Canada, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 62: Canada, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 63: Canada, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 64: South America, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 65: South America, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 66: South America, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 67: Brazil, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 68: Brazil, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 69: Brazil, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 70: Middle East, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 71: Middle East, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 72: Middle East, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 73: Africa, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 74: Africa, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 75: Africa, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 76: American Express Company Financial Performance
  • Table 77: Delta Air Lines Financial Performance
  • Table 78: United Airlines Inc. Financial Performance
  • Table 79: Lufthansa Ltd Financial Performance
  • Table 80: British Airways plc Financial Performance

List Of Figures

    Figure 1: Global Historic Market Growth, 2018-2023, $ Billion
  • Figure 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
  • Figure 3: Global Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 4: Global Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 5: Global Business Travel Market, Segmentation By Age Group, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 6: Global Business Travel Market, Segmentation By Purpose, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 7: Global Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 8: Global Business Travel Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 9: Global Business Travel Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 10: Asia-Pacific, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 11: Asia-Pacific, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 12: Asia-Pacific, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 13: China, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 14: China, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 15: China, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 16: India, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 17: India, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 18: India, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 19: Japan, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 20: Japan, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 21: Japan, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 22: Australia, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 23: Australia, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 24: Australia, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 25: Indonesia, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 26: Indonesia, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 27: Indonesia, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 28: South Korea, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 29: South Korea, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 30: South Korea, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 31: Western Europe, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 32: Western Europe, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 33: Western Europe, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 34: UK, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 35: UK, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 36: UK, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 37: Germany, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 38: Germany, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 39: Germany, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 40: France, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 41: France, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 42: France, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 43: Italy, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 44: Italy, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 45: Italy, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 46: Spain, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 47: Spain, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 48: Spain, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 49: Eastern Europe, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 50: Eastern Europe, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 51: Eastern Europe, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 52: Russia, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 53: Russia, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 54: Russia, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 55: North America, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 56: North America, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 57: North America, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 58: USA, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 59: USA, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 60: USA, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 61: Canada, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 62: Canada, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 63: Canada, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 64: South America, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 65: South America, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 66: South America, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 67: Brazil, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 68: Brazil, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 69: Brazil, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 70: Middle East, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 71: Middle East, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 72: Middle East, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 73: Africa, Business Travel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 74: Africa, Business Travel Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 75: Africa, Business Travel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 76: American Express Company Financial Performance
  • Figure 77: Delta Air Lines Financial Performance
  • Figure 78: United Airlines Inc. Financial Performance
  • Figure 79: Lufthansa Ltd Financial Performance
  • Figure 80: British Airways plc Financial Performance

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Frequently Asked Questions

What is the definition of the market?

Business travel refers to the movement of individuals for work-related purposes, typically undertaken by employees or executives of companies to attend meetings, conferences, training sessions, or conduct business transactions in different locations. It encompasses both domestic and international travel and often involves expenses related to transportation, meals, and other incidental costs, all essential for conducting business activities away from the usual workplace. For further insights on the market, request a sample here

How will the market drivers and restraints affect the market dynamics? What forces will shape the industry going forward?

The market major growth driver - The business travel market size has grown strongly in recent years. It will grow from $812.89 billion in 2023 to $913.21 billion in 2024 at a compound annual growth rate (CAGR) of 12.3%. The growth in the historic period can be attributed to the industrial revolution, the increasing interconnectedness of global economies, the rise of multinational corporation meetings, the rise in the number of conferences and trade shows, and the rise of technology companies. The business travel market size is expected to see rapid growth in the next few years. It will grow to $140.99 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. The growth in the forecast period can be attributed to the growth of a strong economy, increased business activities, rise in investment in business travel, generous travel policies, and increasing globalization of multinational corporations. Major trends in the forecast period include innovations in travel technology, advancements in online booking platforms, integration of AI, prioritizing sustainability, and opting for eco-friendly travel options.. For further insights on the market, request a sample here

What is the forecast market size or the forecast market value of the market?

The business travel market size has grown strongly in recent years. It will grow from $812.89 billion in 2023 to $913.21 billion in 2024 at a compound annual growth rate (CAGR) of 12.3%. The growth in the historic period can be attributed to the industrial revolution, the increasing interconnectedness of global economies, the rise of multinational corporation meetings, the rise in the number of conferences and trade shows, and the rise of technology companies. The business travel market size is expected to see rapid growth in the next few years. It will grow to $140.99 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. The growth in the forecast period can be attributed to the growth of a strong economy, increased business activities, rise in investment in business travel, generous travel policies, and increasing globalization of multinational corporations. Major trends in the forecast period include innovations in travel technology, advancements in online booking platforms, integration of AI, prioritizing sustainability, and opting for eco-friendly travel options. For further insights on the market, request a sample here

How is the market segmented?

The market is segmented
1) By Type: Managed Business Travel, Unmanaged Business Travel
2) By Service: Transportation, Food And Lodging, Business Activity
3) By Age Group: Marketing Travel Fare Travelers Below 40 Years, Travelers Above 40 Years
4) By Purpose: Marketing, Meetings, Trade Shows Or Exhibitions, Product Launch, Other Purposes
5) By Industry: Government, CorporateFor further insights on the market, request a sample here

Which region has the largest share of the market? What are the other regions covered in the report?

Asia-Pacific was the largest region in the business travel market in 2023. The regions covered in the business travel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. For further insights on the market, request a sample here.

Major companies operating in the business travel market are American Express Company, Delta Air Lines, United Airlines Inc., Lufthansa Ltd, British Airways plc, Travelport Worldwide Ltd, SAP Concur, Orbitz, BCD Group, Navan Inc., Carlson Wagonlit Travel (CWT), Upside Business Travel, Corporate Travel Management Ltd, Clarity Business Travel Agency, FCM Travel Solutions, Paxes, Deem Inc., TravelPerk, SOTC Travel Limited, Serko Ltd, Thomas Cook, Wexas Travel Management For further insights on the market, request a sample here.

What are the key trends in the market?

Major trend in the market - Innovative AI Integration Revolutionizes Business Travel Management. For further insights on the market, request a sample here.

What are the major opportunities in the market? What are the strategies for the market?

For detailed insights on the major opportunities and strategies in the market, request a sample here.

How does the market relate to the overall economy and other similar markets?

For detailed insights on market's relation to the overall economy and other similar markets, request a sample here.

What are the latest mergers and acquisitions in the industry?

For detailed insights on the mergers and acquisitions in the industry, request a sample here.

What are the key dynamics influencing the market growth? SWOT analysis of the market.

For detailed insights on the key dynamics influencing the market growth and SWOT analysis of the industry, request a sample here.