Business Travel Market Outlook
Business travel, also called corporate travel, is undertaken particularly for work or business purposes. It primarily includes domestic and international travel to different enterprise branches or meeting suppliers and buyers for business expansion.
The global business travel market is expected to reach a value of US$ 1.5 Trillion by 2027, exhibiting a CAGR of 7.88% during 2022-2027. Looking forward, IMARC Group expects the global business travel market to continue its robust growth during the forecast period (2022-2027).
In recent years, rapid globalization has popularized the trend of business travel, which involves brand and product promotion, employee training, client meetings, etc.
Business Travel Market Trends:
The increasing global presence of numerous small and medium scale enterprises is augmenting the demand for business travel. Additionally, the elevating number of exhibitions and conferences to promote products and services worldwide is also driving the market growth. Moreover, the introduction of numerous government initiatives supporting startup businesses has created lucrative opportunities for cross-board investments, thereby augmenting the demand for business travel. The rising need for face-to-face interaction during vendor finalization or recruitment of senior executives is also bolstering the market growth. Besides this, improving air connectivity along with the growing number of low-cost airlines and private jet aggregators is also strengthening the global market for business travel.
Request For a Free PDF Sample Report: https://www.imarcgroup.com/business-travel-market/requestsample
Note: We are in the process of updating our reports. If you want to receive the latest research data covering the period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.
Competitive Landscape with Key Players:
Airbnb Inc.American Express CompanyBCD TravelBooking Holdings Inc.Carlson Wagonlit Travel Inc.Expedia Group Inc.Fareportal Inc.Flight Centre Travel GroupHogg Robinson GroupTravel Leaders Group LLCWexas TravelKey Market Segmentation:
The report has categorized the market based on type, purpose type, expenditure, age group, service type, travel type and end-user.
Breakup by Type:
Managed Business TravelUnmanaged Business TravelBreakup by Purpose Type:
MarketingInternal MeetingsTrade ShowsProduct LaunchOthersBreakup by Expenditure:
Travel FareLodgingDiningOthersBreakup by Age Group:
Travelers Below 40 YearsTravelers Above 40 YearsBreakup by Service Type:
TransportationFood and LodgingRecreational ActivitiesOthersBreakup by Travel Type:
Group TravelSolo TravelBreakup by End-User:
GovernmentCorporateOthersBreakup by Region:
North America (United States, Canada)Europe (Germany, France, United Kingdom, Italy, Spain, Others)Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)Latin America (Brazil, Mexico, Others)Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)Ask Analyst for Customization and Explore full report with TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=2130&flag=C
Key highlights of the report:
Market Performance (2016-2021)Market Outlook (2022-2027)Market TrendsMarket Drivers and Success FactorsImpact of COVID-19Value Chain AnalysisComprehensive mapping of the competitive landscapeIf you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
Related Reports by IMARC Group:
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us:
IMARC Group
134 N 4th St.
Brooklyn, NY 11249, USA
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas: - +1 631 791 1145 | Africa and Europe: - +44-702-409-7331 | Asia: +91-120-433-0800