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Business Travel Market Report by Type (Managed Business Travel, Unmanaged Business Travel), Purpose Type (Marketing, Internal Meetings, Trade Shows, Product Launch, and Others), Expenditure (Travel Fare, Lodging, Dining, and Others), Age Group (Travelers Below 40 Years, Travelers Above 40 Years), Service Type (Transportation, Food and Lodging, Recreational Activities, and Others), Travel Type (Group Travel, Solo Travel), End-User (Government, Corporate, and Others), and Region 2024-2032
Market Report I 2024-03-02 I 149 Pages I IMARC Group
The global business travel market size reached US$ 1.1 Trillion in 2023. Looking forward, IMARC Group expects the market to reach US$ 1.9 Trillion by 2032, exhibiting a growth rate (CAGR) of 6.6% during 2024-2032.
Business travel, also known as corporate travel, is a journey explicitly undertaken for work purposes or to expand business operations. It includes traveling to a different branch of the company, or to a different location to meet with suppliers and buyers, or for conferences and business events. In recent years, the rapidly globalizing world has accelerated the trend of business travel, which collectively includes client meetings, brand and product promotion, business expansion, and employee training and incentives.
The global market is primarily being influenced by the increasing digitization in the tourism and corporate sectors. In line with this, growing penetration of the Internet of Things (IoT) has enabled both the travelers and the travel operators to get things done swiftly and with ease. Along with this, the virtual reality (VR) technology also provides better, efficient and personalized customer experiences, thus bolstering the market growth. Apart from this, the rising trend of Bleisure travel, which incorporates business with pleasure elements and offers leisure or recreational activities to relieve stress and improve work efficiency, has provided a positive thrust to the market. Large-scale developments in the travel and tourism sector, an increase in small and medium enterprises (SMEs) and fast-paced globalization has led to a rise in the number of business travelers. This, along with tie-ups of several corporate organizations with the leading business travel companies to provide customized collaborative spaces and team-building exercises, is acting as another major growth-inducing factor.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global business travel market report, along with forecasts at the global, regional and country level from 2024-2032. Our 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 Travel
Unmanaged Business Travel
Breakup by Purpose Type:
Marketing
Internal Meetings
Trade Shows
Product Launch
Others
Breakup by Expenditure:
Travel Fare
Lodging
Dining
Others
Breakup by Age Group:
Travelers Below 40 Years
Travelers Above 40 Years
Breakup by Service Type:
Transportation
Food and Lodging
Recreational Activities
Others
Breakup by Travel Type:
Group Travel
Solo Travel
Breakup by End-User:
Government
Corporate
Others
Breakup by Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Airbnb Inc., American Express Company, BCD Travel, Booking Holdings Inc., Carlson Wagonlit Travel Inc., Expedia Group Inc., Fareportal Inc., Flight Centre Travel Group, Hogg Robinson Group, Travel Leaders Group LLC, Wexas Ltd. etc.
Key Questions Answered in This Report
1. What was the size of the global business travel market in 2023?
2. What is the expected growth rate of the global business travel market during 2024-2032?
3. What are the key factors driving the global business travel market?
4. What has been the impact of COVID-19 on the global business travel market?
5. What is the breakup of the global business travel market based on the type?
6. What is the breakup of the global business travel market based on the purpose type?
7. What is the breakup of the global business travel market based on the expenditure?
8. What is the breakup of the global business travel market based on the age group?
9. What is the breakup of the global business travel market based on the service type?
10. What is the breakup of the global business travel market based on the travel type?
11. What is the breakup of the global business travel market based on the end-user?
12. What are the key regions in the global business travel market?
13. Who are the key companies/players in the global business travel market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Business Travel Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Managed Business Travel
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Unmanaged Business Travel
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Purpose Type
7.1 Marketing
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Internal Meetings
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Trade Shows
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Product Launch
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Others
7.5.1 Market Trends
7.5.2 Market Forecast
8 Market Breakup by Expenditure
8.1 Travel Fare
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Lodging
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Dining
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Others
8.4.1 Market Trends
8.4.2 Market Forecast
9 Market Breakup by Age Group
9.1 Travelers Below 40 Years
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Travelers Above 40 Years
9.2.1 Market Trends
9.2.2 Market Forecast
10 Market Breakup by Service Type
10.1 Transportation
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Food and Lodging
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 Recreational Activities
10.3.1 Market Trends
10.3.2 Market Forecast
10.4 Others
10.4.1 Market Trends
10.4.2 Market Forecast
11 Market Breakup by Travel Type
11.1 Group Travel
11.1.1 Market Trends
11.1.2 Market Forecast
11.2 Solo Travel
11.2.1 Market Trends
11.2.2 Market Forecast
12 Market Breakup by End-User
12.1 Government
12.1.1 Market Trends
12.1.2 Market Forecast
12.2 Corporate
12.2.1 Market Trends
12.2.2 Market Forecast
12.3 Others
12.3.1 Market Trends
12.3.2 Market Forecast
13 Market Breakup by Region
13.1 North America
13.1.1 United States
13.1.1.1 Market Trends
13.1.1.2 Market Forecast
13.1.2 Canada
13.1.2.1 Market Trends
13.1.2.2 Market Forecast
13.2 Asia Pacific
13.2.1 China
13.2.1.1 Market Trends
13.2.1.2 Market Forecast
13.2.2 Japan
13.2.2.1 Market Trends
13.2.2.2 Market Forecast
13.2.3 India
13.2.3.1 Market Trends
13.2.3.2 Market Forecast
13.2.4 South Korea
13.2.4.1 Market Trends
13.2.4.2 Market Forecast
13.2.5 Australia
13.2.5.1 Market Trends
13.2.5.2 Market Forecast
13.2.6 Indonesia
13.2.6.1 Market Trends
13.2.6.2 Market Forecast
13.2.7 Others
13.2.7.1 Market Trends
13.2.7.2 Market Forecast
13.3 Europe
13.3.1 Germany
13.3.1.1 Market Trends
13.3.1.2 Market Forecast
13.3.2 France
13.3.2.1 Market Trends
13.3.2.2 Market Forecast
13.3.3 United Kingdom
13.3.3.1 Market Trends
13.3.3.2 Market Forecast
13.3.4 Italy
13.3.4.1 Market Trends
13.3.4.2 Market Forecast
13.3.5 Spain
13.3.5.1 Market Trends
13.3.5.2 Market Forecast
13.3.6 Russia
13.3.6.1 Market Trends
13.3.6.2 Market Forecast
13.3.7 Others
13.3.7.1 Market Trends
13.3.7.2 Market Forecast
13.4 Latin America
13.4.1 Brazil
13.4.1.1 Market Trends
13.4.1.2 Market Forecast
13.4.2 Mexico
13.4.2.1 Market Trends
13.4.2.2 Market Forecast
13.4.3 Others
13.4.3.1 Market Trends
13.4.3.2 Market Forecast
13.5 Middle East and Africa
13.5.1 Market Trends
13.5.2 Market Breakup by Country
13.5.3 Market Forecast
14 SWOT Analysis
14.1 Overview
14.2 Strengths
14.3 Weaknesses
14.4 Opportunities
14.5 Threats
15 Value Chain Analysis
16 Porters Five Forces Analysis
16.1 Overview
16.2 Bargaining Power of Buyers
16.3 Bargaining Power of Suppliers
16.4 Degree of Competition
16.5 Threat of New Entrants
16.6 Threat of Substitutes
17 Competitive Landscape
17.1 Market Structure
17.2 Key Players
17.3 Profiles of Key Players
17.3.1 Airbnb Inc.
17.3.1.1 Company Overview
17.3.1.2 Product Portfolio
17.3.2 American Express Company
17.3.2.1 Company Overview
17.3.2.2 Product Portfolio
17.3.2.3 Financials
17.3.2.4 SWOT Analysis
17.3.3 BCD Travel
17.3.3.1 Company Overview
17.3.3.2 Product Portfolio
17.3.4 Booking Holdings Inc.
17.3.4.1 Company Overview
17.3.4.2 Product Portfolio
17.3.4.3 Financials
17.3.4.4 SWOT Analysis
17.3.5 Carlson Wagonlit Travel Inc.
17.3.5.1 Company Overview
17.3.5.2 Product Portfolio
17.3.6 Expedia Group Inc.
17.3.6.1 Company Overview
17.3.6.2 Product Portfolio
17.3.6.3 Financials
17.3.6.4 SWOT Analysis
17.3.7 Fareportal Inc.
17.3.7.1 Company Overview
17.3.7.2 Product Portfolio
17.3.8 Flight Centre Travel Group
17.3.8.1 Company Overview
17.3.8.2 Product Portfolio
17.3.8.3 Financials
17.3.9 Hogg Robinson Group
17.3.9.1 Company Overview
17.3.9.2 Product Portfolio
17.3.9.3 Financials
17.3.10 Travel Leaders Group LLC
17.3.10.1 Company Overview
17.3.10.2 Product Portfolio
17.3.11 Wexas Ltd.
17.3.11.1 Company Overview
17.3.11.2 Product Portfolio
Figure 1: Global: Business Travel Market: Major Drivers and Challenges
Figure 2: Global: Business Travel Market: Sales Value (in Trillion US$), 2018-2023
Figure 3: Global: Business Travel Market: Breakup by Type (in %), 2023
Figure 4: Global: Business Travel Market: Breakup by Purpose Type (in %), 2023
Figure 5: Global: Business Travel Market: Breakup by Expenditure (in %), 2023
Figure 6: Global: Business Travel Market: Breakup by Age Group (in %), 2023
Figure 7: Global: Business Travel Market: Breakup by Service Type (in %), 2023
Figure 8: Global: Business Travel Market: Breakup by Travel Type (in %), 2023
Figure 9: Global: Business Travel Market: Breakup by End-User (in %), 2023
Figure 10: Global: Business Travel Market: Breakup by Region (in %), 2023
Figure 11: Global: Business Travel Market Forecast: Sales Value (in Trillion US$), 2024-2032
Figure 12: Global: Business Travel (Managed Business Travel) Market: Sales Value (in Billion US$), 2018 & 2023
Figure 13: Global: Business Travel (Managed Business Travel) Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 14: Global: Business Travel (Unmanaged Business Travel) Market: Sales Value (in Billion US$), 2018 & 2023
Figure 15: Global: Business Travel (Unmanaged Business Travel) Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 16: Global: Business Travel (Marketing) Market: Sales Value (in Billion US$), 2018 & 2023
Figure 17: Global: Business Travel (Marketing) Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 18: Global: Business Travel (Internal Meetings) Market: Sales Value (in Billion US$), 2018 & 2023
Figure 19: Global: Business Travel (Internal Meetings) Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 20: Global: Business Travel (Trade Shows) Market: Sales Value (in Billion US$), 2018 & 2023
Figure 21: Global: Business Travel (Trade Shows) Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 22: Global: Business Travel (Product Launch) Market: Sales Value (in Billion US$), 2018 & 2023
Figure 23: Global: Business Travel (Product Launch) Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 24: Global: Business Travel (Others) Market: Sales Value (in Billion US$), 2018 & 2023
Figure 25: Global: Business Travel (Others) Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 26: Global: Business Travel (Travel Fare) Market: Sales Value (in Billion US$), 2018 & 2023
Figure 27: Global: Business Travel (Travel Fare) Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 28: Global: Business Travel (Lodging) Market: Sales Value (in Billion US$), 2018 & 2023
Figure 29: Global: Business Travel (Lodging) Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 30: Global: Business Travel (Dining) Market: Sales Value (in Billion US$), 2018 & 2023
Figure 31: Global: Business Travel (Dining) Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 32: Global: Business Travel (Others) Market: Sales Value (in Billion US$), 2018 & 2023
Figure 33: Global: Business Travel (Others) Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 34: Global: Business Travel (Travelers Below 40 Years) Market: Sales Value (in Billion US$), 2018 & 2023
Figure 35: Global: Business Travel (Travelers Below 40 Years) Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 36: Global: Business Travel (Travelers Above 40 Years) Market: Sales Value (in Billion US$), 2018 & 2023
Figure 37: Global: Business Travel (Travelers Above 40 Years) Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 38: Global: Business Travel (Transportation) Market: Sales Value (in Billion US$), 2018 & 2023
Figure 39: Global: Business Travel (Transportation) Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 40: Global: Business Travel (Food and Lodging) Market: Sales Value (in Billion US$), 2018 & 2023
Figure 41: Global: Business Travel (Food and Lodging) Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 42: Global: Business Travel (Recreational Activities) Market: Sales Value (in Billion US$), 2018 & 2023
Figure 43: Global: Business Travel (Recreational Activities) Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 44: Global: Business Travel (Others) Market: Sales Value (in Billion US$), 2018 & 2023
Figure 45: Global: Business Travel (Others) Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 46: Global: Business Travel (Group Travel) Market: Sales Value (in Billion US$), 2018 & 2023
Figure 47: Global: Business Travel (Group Travel) Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 48: Global: Business Travel (Solo Travel) Market: Sales Value (in Billion US$), 2018 & 2023
Figure 49: Global: Business Travel (Solo Travel) Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 50: Global: Business Travel (Government) Market: Sales Value (in Billion US$), 2018 & 2023
Figure 51: Global: Business Travel (Government) Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 52: Global: Business Travel (Corporate) Market: Sales Value (in Billion US$), 2018 & 2023
Figure 53: Global: Business Travel (Corporate) Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 54: Global: Business Travel (Others) Market: Sales Value (in Billion US$), 2018 & 2023
Figure 55: Global: Business Travel (Others) Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 56: North America: Business Travel Market: Sales Value (in Billion US$), 2018 & 2023
Figure 57: North America: Business Travel Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 58: United States: Business Travel Market: Sales Value (in Billion US$), 2018 & 2023
Figure 59: United States: Business Travel Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 60: Canada: Business Travel Market: Sales Value (in Billion US$), 2018 & 2023
Figure 61: Canada: Business Travel Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 62: Asia Pacific: Business Travel Market: Sales Value (in Billion US$), 2018 & 2023
Figure 63: Asia Pacific: Business Travel Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 64: China: Business Travel Market: Sales Value (in Billion US$), 2018 & 2023
Figure 65: China: Business Travel Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 66: Japan: Business Travel Market: Sales Value (in Billion US$), 2018 & 2023
Figure 67: Japan: Business Travel Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 68: India: Business Travel Market: Sales Value (in Billion US$), 2018 & 2023
Figure 69: India: Business Travel Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 70: South Korea: Business Travel Market: Sales Value (in Billion US$), 2018 & 2023
Figure 71: South Korea: Business Travel Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 72: Australia: Business Travel Market: Sales Value (in Billion US$), 2018 & 2023
Figure 73: Australia: Business Travel Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 74: Indonesia: Business Travel Market: Sales Value (in Billion US$), 2018 & 2023
Figure 75: Indonesia: Business Travel Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 76: Others: Business Travel Market: Sales Value (in Billion US$), 2018 & 2023
Figure 77: Others: Business Travel Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 78: Europe: Business Travel Market: Sales Value (in Billion US$), 2018 & 2023
Figure 79: Europe: Business Travel Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 80: Germany: Business Travel Market: Sales Value (in Billion US$), 2018 & 2023
Figure 81: Germany: Business Travel Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 82: France: Business Travel Market: Sales Value (in Billion US$), 2018 & 2023
Figure 83: France: Business Travel Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 84: United Kingdom: Business Travel Market: Sales Value (in Billion US$), 2018 & 2023
Figure 85: United Kingdom: Business Travel Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 86: Italy: Business Travel Market: Sales Value (in Billion US$), 2018 & 2023
Figure 87: Italy: Business Travel Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 88: Spain: Business Travel Market: Sales Value (in Billion US$), 2018 & 2023
Figure 89: Spain: Business Travel Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 90: Russia: Business Travel Market: Sales Value (in Billion US$), 2018 & 2023
Figure 91: Russia: Business Travel Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 92: Others: Business Travel Market: Sales Value (in Billion US$), 2018 & 2023
Figure 93: Others: Business Travel Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 94: Latin America: Business Travel Market: Sales Value (in Billion US$), 2018 & 2023
Figure 95: Latin America: Business Travel Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 96: Brazil: Business Travel Market: Sales Value (in Billion US$), 2018 & 2023
Figure 97: Brazil: Business Travel Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 98: Mexico: Business Travel Market: Sales Value (in Billion US$), 2018 & 2023
Figure 99: Mexico: Business Travel Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 100: Others: Business Travel Market: Sales Value (in Billion US$), 2018 & 2023
Figure 101: Others: Business Travel Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 102: Middle East and Africa: Business Travel Market: Sales Value (in Billion US$), 2018 & 2023
Figure 103: Middle East and Africa: Business Travel Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 104: Global: Business Travel Industry: SWOT Analysis
Figure 105: Global: Business Travel Industry: Value Chain Analysis
Figure 106: Global: Business Travel Industry: Porters Five Forces Analysis
Table 1: Global: Business Travel Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: Business Travel Market Forecast: Breakup by Type (in Billion US$), 2024-2032
Table 3: Global: Business Travel Market Forecast: Breakup by Purpose Type (in Billion US$), 2024-2032
Table 4: Global: Business Travel Market Forecast: Breakup by Expenditure (in Billion US$), 2024-2032
Table 5: Global: Business Travel Market Forecast: Breakup by Age Group (in Billion US$), 2024-2032
Table 6: Global: Business Travel Market Forecast: Breakup by Service Type (in Billion US$), 2024-2032
Table 7: Global: Business Travel Market Forecast: Breakup by Travel Type (in Billion US$), 2024-2032
Table 8: Global: Business Travel Market Forecast: Breakup by End-User (in Billion US$), 2024-2032
Table 9: Global: Business Travel Market Forecast: Breakup by Region (in Billion US$), 2024-2032
Table 10: Global: Business Travel Market Structure
Table 11: Global: Business Travel Market: Key Players
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