Europe Business Travel Market To Have US$ 300.3 Billion Size and 4.3% CAGR by 2028, Says IMARC Group

IMARC Group has recently released a new research study titled "Europe Business Travel Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", The Europe business travel market size reached US$ 226.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 300.3 Billion by 2028, exhibiting a growth rate (CAGR) of 4.3% during 2023-2028. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Business travel involves employees traveling for work-related purposes, such as attending meetings, conferences, and training sessions, in various locations. It is typically funded by the employer, and it is essential for the growth and development of businesses of all sizes. The primary purpose of business travel is to allow employees to interact with clients, partners, and colleagues from around the world. This, in turn, enables them to build relationships, establish trust, and collaborate more effectively, leading to increased productivity and better business outcomes. Currently, domestic and international travel, short-term and long-term travel, and solo and group travel are some of the common types of business travel.

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The Europe business travel market is experiencing exponential growth on account of the improving economic conditions in the region. This is further supported by the rising demand for domestic and international business travel and the surging number of small and medium-sized enterprises (SMEs). In addition to this, the expanding European travel networks and the enhancing focus on improving customer experience are providing an impetus to the market growth. Apart from this, rapid globalization, increasing business activities in the healthcare and pharmaceutical sectors, and inflating consumer expenditure power are creating a positive outlook for the market.

Key Market Segmentation:

The report has segmented the market into the following categories:

Based on Type:

• Managed Business Travel
• Unmanaged Business Travel

Based on Purpose Type:

• Marketing
• Internal Meetings
• Trade Shows
• Product Launch
• Others

Based on Expenditure:

• Travel Fare
• Lodging
• Dining
• Others

Based on Age Group:

• Travelers Below 40 Years
• Travelers Above 40 Years

Based on Service Type:

• Transportation
• Food and Lodging
• Recreational Activities
• Others

Based on Travel Type:

• Group Travel
• Solo Travel

Based on End User:

• Government
• Corporate
• Others

Based on Country:

• Germany
• France
• United Kingdom
• Italy
• Spain
• Others

Speak to Analyst: https://www.imarcgroup.com/request?type=report&id=3455&flag=C

Key Highlights of the Report:               

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Industry Trends
• Market Drivers and Success Factors
• The Impact of COVID-19 on the Global Market
• Value Chain Analysis
• Structure of the Global Market
• Comprehensive mapping of the competitive landscape

If 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.

Media Contact:
Company Name: IMARC Group
Contact Person: Elena Anderson
Email: sales@imarcgroup.com
Phone: +1-631-791-1145
Address: 134 N 4th St
City: Brooklyn
State: NY
Country: United States
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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.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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.

This release was published on openPR.