Business Travel Market to 2027 - BCD Group, Booking Holdings, CWT, Direct Travel, Expedia Group, Fareportal

The global Business Travel market accounted for US$ 1.37 Tr in 2018 and is expected to grow at a CAGR of 4.9% over the forecast period 2019–2027, to account for US$ 2.09 Tr by 2027.

"Worldwide Business Travel Market Analysis 2019-2027" is a specialized and in-depth study of the technology industry focusing on the global market trend. The report aims to provide an overview of the global Business Travel market with detailed market segmentation by type, application and geography. The global market for Business Travel is expected to grow strongly in the forecasting period. The report contains important statistics on the market status of the leading market participants and offers important trends and opportunities in the market.

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Business Travel Market report provides an in-depth insight of Industry covering all important parameters including development trends, challenges, opportunities, key manufacturers and competitive analysis. The research report focuses on the leading competitors of the Business Travel Market and provides information such as the company overview, product portfolio, key developments, price, cost, value, volume, revenue, capacity, production, and contact information.

Company Profiles

American Express Global Business Travel
BCD Group
Booking Holdings, Inc.
Corporate Travel Management
CWT
Direct Travel, Inc.
Expedia Group
Fareportal
Flight Centre Travel Group Limited
Travel Leaders Group

Business travel is a broad term that consists of all the activities executed to achieve a business goal or objective. This objective could be increasing sales, building business relationships, client support, business operations, training, and learning & development among many others. Business Travel is a critical function in any organization and travel managers sees it as an opportunity for revenue generation. For governments also, business travel generates jobs, increases income and tax revenues. Business Travel is affected by factors such as size of the economy, GDP growth, travel infrastructure development, population, industry mix, business dispersion, technology adoption, exports, oil prices, tax, security, and regulatory policies.

Among the various geographic regions, Asia Pacific held the leading position in the global Business Travel market and it is anticipated to be the highest spending contributor throughout the forecast period. The market growth in Asia Pacific is primarily driven by development of travel infrastructure and presence of a large number of Small and Medium Enterprises (SMEs).

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Bleisure is defined as a practice of combining both business and leisure on a business trip. The popularity of bleisure travel is growing among corporate travelers worldwide, as it allows frequent travelers to take some time off from the hectic schedule of travelling and business meetings during a trip.More than half of of Business Travelers prefers to take bleisure trips.

These trips help travelers in increasing their work productivity by reducing the stress associated with business trips. With increasing connected generation and young millennial business professionals, the demand for bleisure services is anticipated to grow at a fast pace during the forecast period. According to the latest survey conducted by Expedia Group Media Solutions on ‘Unpacking Bleisure Traveler Trends’, more than 60% of business trips converted into bleisure trips across five countries in the year 2017.

Based on industry, the Business Travel market is segmented into government and corporate. The global business travel market by industry was led by corporate segment and it is expected to continue its dominance during the forecast period of 2019 to 2027.

On the basis of service type, the Business Travel market is segmented into transportation, food & accommodation, and recreation activity. In 2018, the global business travel market is dominated by food & accommodation segment with more than half of the global market share.

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Reason to Buy

– Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Business Travel Market

– Highlights key business priorities in order to assist companies to realign their business strategies.

– The key findings and recommendations highlight crucial progressive industry trends in the Business Travel Market, thereby allowing players to develop effective long term strategies.

– Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

– Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.

– Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.

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