Europe Business Travel Market Size To Hit US$ 300.3 Billion By 2028 | IMARC Group

IMARC Group has recently released a new research study titled "Europe Business Travel Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2028", offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.

How big is the Europe business travel market?

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.

Download a free sample report to get a detailed overview of the market: https://www.imarcgroup.com/europe-business-travel-market/requestsample

Market Outlook: 

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.

Europe Business Travel Market Trends:

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.

Europe Business Travel Market 2023-2028 Competitive Analysis and Segmentation:

Key Market Segmentation:

The report has segmented the Europe business travel market on the basis of type, purpose type, expenditure, age group, service type, travel type, end user and Country.

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 Country:

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

Ask Analyst for Customization and Explore Full Report With TOC & List of Figures: 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.

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This release was published on openPR.