Here's how Business Travel Market growing at a CAGR of +10% by 2031 | Airbnb, American Express Company, BCD Group, Booking Holdings, CWT Solutions, Expedia, Inc., Fareportal

Business travel is a division of regular tourism in which people travel for a business-oriented purpose. It includes transportation, accommodation, business work, entertainment, and other activities.
According to World Travel and Tourism Council (WTTC), the global travel & tourism sector contributed to around $5.8 trillion to the global GDP (Gross Domestic Product) in 2021. The business travel segment witnesses the highest growth rate in this industry, as employees working in multinational organizations are often required to travel across various countries for business purposes. In business tourism, destinations are commercial places, which are well-developed and suited for trade work. Travel & tourism includes leisure tourism, business tourism, medical tourism, and others.

The global Business Travel market is projected to grow at a CAGR of +10% during forecast period (2024-2031).

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Top Key Players Profiled in This Report:
Airbnb, Inc., American Express Company, BCD Group, Booking Holdings, CWT Solutions, Corporate Travel Management, Expedia, Inc., Fareportal, Flight Centre Travel Group Limited (formerly Flight Centre Limited), Wexas Travel, Hogg Robinson Ltd, Priceline, Egencia LLC, Frosch International Travel, Ovation Travel Group, Travel Leaders Group.

The key questions answered in this report: -

1. What will be the Market Size and Growth Rate in the forecast year?
2. What are the Key Factors driving Business Travel Market?
3. What are the Risks and Challenges in front of the market?
4. Who are the Key Vendors in Business Travel Market?
5. What are the Trending Factors influencing the market shares?
6. What are the Key Outcomes of Porter's five forces model?
7. Which are the Global Opportunities for Expanding the Business Travel Market?

"Food & lodging segment" dominates the service segment of the global business travel market part owing to growing penetration of hotel booking agents such as Airbnb and Oravel Stays, are fostering the growth of the food and lodging segment. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

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Business Travel Market Segmentation by Type:
• Managed Business Travel
• Unmanaged Business Travel

Business Travel Market Segmentation by Purpose:
• Marketing
• Internal Meetings
• Trade Shows
• Product Launch
• Others

Business Travel Market Segmentation by Expenditure:
• Marketing Travel Fare
• Lodging
• Dining
• Others

Business Travel Market by Regions:
• North America (United States, Canada and Mexico)
• Europe (Germany, France, UK, Russia and Italy)
• Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
• South America (Brazil, Argentina, Colombia etc.)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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