Business Travel Market Share by Companies, Size, Trends Analysis, Outlook and Forecast 2023-2028

IMARC Group, a leading market research company, has recently releases report titled "𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐓𝐫𝐚𝐯𝐞𝐥 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐆𝐥𝐨𝐛𝐚𝐥 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐓𝐫𝐞𝐧𝐝𝐬, 𝐒𝐡𝐚𝐫𝐞, 𝐒𝐢𝐳𝐞, 𝐆𝐫𝐨𝐰𝐭𝐡, 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐚𝐧𝐝 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝟐𝟎𝟐𝟑-𝟐𝟎𝟐𝟖." The study provides a detailed analysis of the industry, including the global business travel market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How Big is the Business Travel Market?

The global business travel market size reached US$ 1.0 Trillion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1.5 Trillion by 2028, exhibiting a growth rate (CAGR) of 7.6% during 2023-2028.

What is Business Travel?

Business travel refers to the practice of individuals traveling for work-related purposes, typically on behalf of their organizations or companies. It involves professionals undertaking trips to various locations, both domestic and international, to engage in activities, such as meetings, conferences, training sessions, client visits, negotiations, industry events, and other business-related endeavors. The scope of business travel varies across industries and organizations. It can involve short trips within the same city or region, as well as longer-duration journeys that span multiple days or weeks, especially for international assignments. Business travelers often navigate various modes of transportation, including air, rail, road, and sometimes even sea, depending on the destination and distance involved.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐅𝐨𝐫 𝐚 𝐅𝐫𝐞𝐞 𝐏𝐃𝐅 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/business-travel-market/requestsample

What are the Growth Prospects and Trends in the Business Travel Market?

The increasing trade and corporate events, such as trade shows, exhibitions, conferences, and industry events, represents one of the significant factors driving the growth of the market across the globe. This, coupled with various events providing opportunities for networking, knowledge sharing, and business development, is acting as a major growth-inducing factor. The market is also driven by several businesses expanding their operations, opening new branches, or investing in foreign markets, along with mergers and acquisitions (M&As) and partnerships due to companies sending representatives to facilitate negotiations and ensure smooth transitions. In line with this, the increasing globalization and economic growth, coupled with the rising need for business professionals to travel for meetings, negotiations, conferences, and market exploration are contributing to the growth of the market. In addition to this, the rising demand for business travel is steadily gaining traction in certain sectors, such as consulting, finance, and professional services, due to client-facing roles, project-based work, and the need for on-site visits in industries, including construction, manufacturing, and oil and gas, are further facilitating the growth of the market.

𝐁𝐮𝐲 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.imarcgroup.com/checkout?id=2130&method=1

Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.

Who are the Key Players Operating in the Business Travel Industry?

The report has also analyzed the competitive landscape of the market with some of the key players.

Competitive Landscape with Key Players:

• 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 Travel

What is Included in Market Segmentation?

The report has categorized the market based on type, purpose type, expenditure, age group, service type, travel type, end-user, and region.

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)
• 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 (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• 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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