Business Travel Market, Global Outlook and Forecast 2023-2032
The global Business Travel market was valued at US$ 1216220 million in 2022 and is projected to reach US$ 1514010 million by 2029, at a CAGR of 3.2% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
The USA market for Global Business Travel market is estimated to increase from USD million in 2022 to reach USD million by 2030, at a CAGR during the forecast period of 2023 through 2030.
The China market for Global Business Travel market is estimated to increase from USD million in 2022 to reach USD million by 2030, at a CAGR during the forecast period of 2023 through 2030.
The Europe market for Global Business Travel market is estimated to increase from USD million in 2022 to reach USD million by 2030, at a CAGR during the forecast period of 2023 through 2030.
Business travel refers to domestic or international trips made by an employee for several business-related purposes, including the organization of trade shows, marketing of the company, product launches, and internal meetings. Tourism is one of the major sources of revenue for a number of countries and has a positive impact on the economy of both the source and host countries. The tourism industry has experienced a high growth in the last six decades, especially in regions like Europe that host a large number of international travelers on short breaks. Tourists usually have high budgets and a preference for good food and luxury accommodations. However, these preferences may differ from one tourist to another. For instance, some tourists prefer simple beach vacations, while others want family-oriented holidays at quieter resorts, uncommercialized places, or niche market-targeted destination hotels.
This report aims to provide a comprehensive presentation of the global market for Business Travel, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Business Travel. This report contains market size and forecasts of Business Travel in global, including the following market information:
- Global Business Travel Market Revenue, 2018-2023, 2024-2032, ($ millions)
- Global top five companies in 2022 (%)
One of the major drivers for this market is the growing technological advances. The business travel market relies on technologically advanced solutions that aid travel agents and their clients access the travel data; compare reservation options; and book the most efficient, economical, and comfortable option. Furthermore, advances in artificial intelligence (AI) have helped automate the travel booking process, eliminating the need to re-enter the employee travel preferences and, in turn, saving time and energy.
MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Business Travel companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Business Travel Market, by Type, 2018-2023, 2024-2032 ($ millions)
Global Business Travel Market Segment Percentages, by Type, 2022 (%)
- Consulting Services
- Transportation & Accommodation Management
- Meetings & Events Management
- Others
Global Business Travel Market, by Application, 2018-2023, 2024-2032 ($ millions)
Global Business Travel Market Segment Percentages, by Application, 2022 (%)
- Large Enterprises
- SMEs
- Government & Nonprofits
Global Business Travel Market, By Region and Country, 2018-2023, 2024-2032 ($ Millions)
Global Business Travel Market Segment Percentages, By Region and Country, 2022 (%)
- North America (United States, Canada, Mexico)
- Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- The Middle East and Africa (Middle East, Africa)
- South and Central America (Brazil, Argentina, Rest of SCA)
Competitor Analysis
The report also provides analysis of leading market participants including:
- Key companies Business Travel revenues in global market, 2018-2023 (estimated), ($ millions)
- Key companies Business Travel revenues share in global market, 2022 (%)
key players include:
- Corporate Travel Management (CTM)
- CWT
- FCM Travel Solutions
- Direct Travel
- GBT
- ARTA Travel
- BCD Group
- Business Tavel
- Cain Travel & Events
- CorpTrav (FROSCH)
- Enterprise Holdings
- GTI Travel
- JTB Business Travel
- National Express
- Radius Travel
- Safe Harbors Business Travel
- Teplis Travel Service
Outline of Major Chapters:
Chapter 1: Introduces the definition of Business Travel, market overview.
Chapter 2: Global Business Travel market size in revenue.
Chapter 3: Detailed analysis of Business Travel company competitive landscape, revenue and market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Business Travel in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: The main points and conclusions of the report.
