Business Travel Market
Report ID: SQMIG25S2032
Report ID: SQMIG25S2032
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Report ID:
SQMIG25S2032 |
Region:
Global |
Published Date: December, 2025
Pages:
165
|Tables:
89
|Figures:
76
Global Business Travel Market size was valued at USD 1.42 Trillion in 2024 and is poised to grow from USD 1.53 Trillion in 2025 to USD 2.82 Trillion by 2033, growing at a CAGR of 7.9% during the forecast period (2026–2033).
Travel and tourism are among the chief contributors to the global GDP. Business travel amounted to 20% of the overall tourism expenditure in 2019.
It was estimated that companies spend around 111.7 billion on work-related trips and tours. Increased globalization and opportunities in the field of business and trade along with various business-oriented events, conferences, congresses, trade fairs, and exhibitions have increased domestic and overseas travelling. 80 % of the corporates believe that such trips and tours help them in holistic growth and generate incremental revenue and thus it is becoming a crucial part of corporate.
China witnessed the highest spending of around USD 295 billion in the year 2021 for business travelling. Such travelling is often destined to well-developed and accommodated places, New York, Paris, London, Tokyo, and Singapore are the Top 5 destinations. It accompanies the facilities related to transport, accommodation, work, entertainment, leisure and other associated activities. In 2021 the global spending on Business travel was around USD 754 billion and is expected to grow by 38% in 2019.
Prevalence of online travel booking and hotel booking is further contributing to global business travel market growth. 458 million visits were recorded for Booking.com, a travel and tourism website followed by tripadvisor.com and irbnb.com in March 2022. As per the records, 66% of the sales for the travel and tourism market were generated from online platforms in the year 2021.
US Business Travel Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2026-2033
Global Market Size
USD 1.32 trillion
Largest Segment
Transport
Fastest Growth
Transport
Growth Rate
7.9% CAGR
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Global Business Travel Market is segmented by Traveler Type, Industry, Service and region. Based on Traveler Type, the market is segmented into Solo and Group. Based on Industry, the market is segmented into Corporate and Government. Based on Service, the market is segmented into Transportation, Food & Lodging and Recreation. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
The number of business travel is increasing in corporate business. Moreover, the trend wherein every big or small firm envisions expanding its footprints within a region or global forum makes way for various professional meetings, conferences, client meetings, etc.
The group business travel segment is flourishing owing to various discounts and benefits available for the group. Along with this accommodation and transportation expenditure for group traveler is lower as compared to solo. Furthermore, various service providers offer discounted rates on accommodation and transportation for group travel.
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North America is estimated to dominate the global business travel market in the forecast period. Business travel market share increased by 38% in the year 2021. The US is considered the best destination for business trips and tours for its well-accommodated facilities and high opportunities, San Francisco and New York are among the top 5 destinations in the world and are considered corporate giants. Expenditure recorded for business travelling in the US amounts to US$ 109.4 billion. The United States has the largest number of conferences, business meetings, and trade shows, with approximately 33 thousand events planned between the years 2022 and 2023.
The Asia Pacific is expected to project high market growth in the estimated period. Countries like South Korea, Japan, India, Singapore, and China are spending largely on attracting business travelers. The growing business and trade opportunities with these countries are further contributing to the Business Travel Market growth. China is the largest business exhibition centre in Asia and is expected to retain its position.
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Online methods of business travel booking are easing the booking process followed by integration of business and leisure, Beleisure travelling is driving business travel market growth
Shift from traditional travel agencies to SMART business travel management systems.
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The key players in the business travel market are implementing various ways to increase the market share. Various mergers acquisitions and collaborations are taking place for the strategic expansion of business. Airbnb acquired Urbandoor, a purchase that puts the home-sharing giant's toes in the corporate travel industry. Airbnb's own Airbnb for Work platform, one of the fastest-growing sectors of the San Francisco company's wide business, is likely to benefit from the acquisition of San Francisco-based Urbandoor, a platform that allows extended stays to business visitors.
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates, and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research.
According to our analysis, the food and lodging segment dominated the global business travel market in 2021 and is estimated to maintain its dominance throughout the forecast period. Along with this recreation activity segment is expected to grow owing to the rising prevalence of beleisure.
In 2021, North America dominated the global business travel market owing to the region's well-accommodated facilities in countries like New Your, san Francisco, and Las Vegas and expenditures on business travelling by tech giants. Expenditure recorded for business travelling in the US amounts to US$ 109.4 billion
| Report Metric | Details |
|---|---|
| Market size value in 2024 | USD 1.42 Trillion |
| Market size value in 2033 | USD 2.82 Trillion |
| Growth Rate | 7.9% |
| Base year | 2024 |
| Forecast period | 2026-2033 |
| Forecast Unit (Value) | USD Trillion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Business Travel Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Business Travel Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Business Travel Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Business Travel Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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