Press release
Global Business Travel Market Become Dominant At CAGR Of 5.11% By 2021
Business travel refers to domestic or international trips made by an employee for several business-related purposes, including the organization of trade shows, marketing of the company, product launches, and internal meetings. Tourism is one of the major sources of revenue for a number of countries and has a positive impact on the economy of both the source and host countries. The tourism industry has experienced a high growth in the last six decades, especially in regions like Europe that host a large number of international travelers on short breaks. Tourists usually have high budgets and a preference for good food and luxury accommodations. However, these preferences may differ from one tourist to another. For instance, some tourists prefer simple beach vacations, while others want family-oriented holidays at quieter resorts, uncommercialized places, or niche market-targeted destination hotels.
Technavios analysts forecast the global business travel market to grow at a CAGR of 5.11% during the period 2017-2021.
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Covered in this report
The report covers the present scenario and the growth prospects of the global business travel market for 2017-2021. To calculate the market size, the report considers the revenue generated from the business travel market by purpose, expenditure, and age.
The market is divided into the following segments based on geography:
Americas
APAC
EMEA
Technavio's report, Global Business Travel Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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Key vendors
American Express Global Business Travel
BCD Travel
Carlson Wagonlit Travel
Expedia
Hogg Robinson Group
Travel Leaders Group
Other prominent vendors
Adelman Travel
ADTRAV Travel Management
ATG
Frosch International Travel
JTB Americas
Omega World Travel
Ovation Travel Group
Priceline Group
UNIGLOBE Travel International
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Market driver
Growing technological advances
For a full, detailed list, view our report
Market challenge
Rising terrorist activities
For a full, detailed list, view our report
Market trend
Personalization of guest data
For a full, detailed list, view our report
Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
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