Worldwide Business Travel Industry to 2027
Global Business Travel Market
Dublin, June 30, 2022 (GLOBE NEWSWIRE) — The “Business Travel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global business travel market is expected to reach a value of US$ 1.5 Trillion by 2027, exhibiting a CAGR of 8.49% during 2021-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Business travel, also known as corporate travel, is a journey explicitly undertaken for work purposes or to expand business operations. It includes traveling to a different branch of the company, or to a different location to meet with suppliers and buyers, or for conferences and business events. In recent years, the rapidly globalizing world has accelerated the trend of business travel, which collectively includes client meetings, brand and product promotion, business expansion, and employee training and incentives.
The global market is primarily being influenced by the increasing digitization in the tourism and corporate sectors. In line with this, growing penetration of the Internet of Things (IoT) has enabled both the travelers and the travel operators to get things done swiftly and with ease. Along with this, the virtual reality (VR) technology also provides better, efficient and personalized customer experiences, thus bolstering the market growth.
Apart from this, the rising trend of Bleisure travel, which incorporates business with pleasure elements and offers leisure or recreational activities to relieve stress and improve work efficiency, has provided a positive thrust to the market. Large-scale developments in the travel and tourism sector, an increase in small and medium enterprises (SMEs) and fast-paced globalization has led to a rise in the number of business travelers. This, along with tie-ups of several corporate organizations with the leading business travel companies to provide customized collaborative spaces and team-building exercises, is acting as another major growth-inducing factor.
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being 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 Ltd. etc.
Key Questions Answered in This Report
1. What is the expected growth rate of the global business travel market during 2022-2027?
2. What are the key factors driving the global business travel market?
3. What has been the impact of COVID-19 on the global business travel market?
4. What is the breakup of the global business travel market based on the type?
5. What is the breakup of the global business travel market based on the purpose type?
6. What is the breakup of the global business travel market based on the expenditure?
7. What is the breakup of the global business travel market based on the age group?
8. What is the breakup of the global business travel market based on the service type?
9. What is the breakup of the global business travel market based on the travel type?
10. What is the breakup of the global business travel market based on the end-user?
11. What are the key regions in the global business travel market?
12. Who are the key companies/players in the global business travel market?
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Business Travel Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Managed Business Travel
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Unmanaged Business Travel
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Purpose Type
7.1 Marketing
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Internal Meetings
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Trade Shows
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Product Launch
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Others
7.5.1 Market Trends
7.5.2 Market Forecast
8 Market Breakup by Expenditure
8.1 Travel Fare
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Lodging
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Dining
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Others
8.4.1 Market Trends
8.4.2 Market Forecast
9 Market Breakup by Age Group
9.1 Travelers Below 40 Years
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Travelers Above 40 Years
9.2.1 Market Trends
9.2.2 Market Forecast
10 Market Breakup by Service Type
10.1 Transportation
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Food and Lodging
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 Recreational Activities
10.3.1 Market Trends
10.3.2 Market Forecast
10.4 Others
10.4.1 Market Trends
10.4.2 Market Forecast
11 Market Breakup by Travel Type
11.1 Group Travel
11.1.1 Market Trends
11.1.2 Market Forecast
11.2 Solo Travel
11.2.1 Market Trends
11.2.2 Market Forecast
12 Market Breakup by End-User
12.1 Government
12.1.1 Market Trends
12.1.2 Market Forecast
12.2 Corporate
12.2.1 Market Trends
12.2.2 Market Forecast
12.3 Others
12.3.1 Market Trends
12.3.2 Market Forecast
13 Market Breakup by Region
14 SWOT Analysis
15 Value Chain Analysis
16 Porters Five Forces Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Key Players
17.3 Profiles of Key Players
17.3.1 Airbnb Inc.
17.3.1.1 Company Overview
17.3.1.2 Product Portfolio
17.3.2 American Express Company
17.3.2.1 Company Overview
17.3.2.2 Product Portfolio
17.3.2.3 Financials
17.3.2.4 SWOT Analysis
17.3.3 BCD Travel
17.3.3.1 Company Overview
17.3.3.2 Product Portfolio
17.3.4 Booking Holdings Inc.
17.3.4.1 Company Overview
17.3.4.2 Product Portfolio
17.3.4.3 Financials
17.3.4.4 SWOT Analysis
17.3.5 Carlson Wagonlit Travel Inc.
17.3.5.1 Company Overview
17.3.5.2 Product Portfolio
17.3.6 Expedia Group Inc.
17.3.6.1 Company Overview
17.3.6.2 Product Portfolio
17.3.6.3 Financials
17.3.6.4 SWOT Analysis
17.3.7 Fareportal Inc.
17.3.7.1 Company Overview
17.3.7.2 Product Portfolio
17.3.8 Flight Centre Travel Group
17.3.8.1 Company Overview
17.3.8.2 Product Portfolio
17.3.8.3 Financials
17.3.9 Hogg Robinson Group
17.3.9.1 Company Overview
17.3.9.2 Product Portfolio
17.3.9.3 Financials
17.3.10 Travel Leaders Group LLC
17.3.10.1 Company Overview
17.3.10.2 Product Portfolio
17.3.11 Wexas Ltd.
17.3.11.1 Company Overview
17.3.11.2 Product Portfolio
For more information about this report visit https://www.researchandmarkets.com/r/of4ey3
Attachment
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
