Global Business Travel Market Report and Forecast 2023-2028

Global Business Travel Market Report and Forecast 2023-2028


Market Outlook

According to the report by Expert Market Research (EMR), the global business travel market reached a value of approximately USD 817.47 billion in 2022. Aided by the resurgence of global economies and the growing need for in-person business interactions, the market is projected to further grow at a CAGR of 12.00% between 2023 and 2028 to reach a value of USD 1440.66 billion by 2028.

Business travel encompasses all forms of employee-driven travel for organisations, which includes attending meetings, conferences, and training sessions, amongst others. It is considered an investment by corporations to further their business interests, build and maintain relationships, and secure new deals. Business travel is also integral to the hospitality and tourism industry, generating substantial revenue for hotels, airlines, and travel service providers.

A significant factor driving the global business travel market growth is the necessity for in-person meetings and engagements. Despite the digital transformation that allows virtual meetings and remote work, face-to-face meetings are regarded as crucial in establishing and nurturing business relationships, negotiating deals, and fostering team cohesion. This factor is driving the recovery and growth of the business travel market post-pandemic.

The adoption and integration of technology in the travel industry are also fuelling the business travel market expansion. The digitalisation of travel booking and management services have made arranging and managing business travel more streamlined and efficient. Businesses are leveraging digital platforms that offer integrated solutions for booking, itinerary management, travel expense tracking, and policy compliance, enhancing the business travel experience and driving market growth.

Furthermore, the trend of 'bleisure' travel (a blend of business and leisure travel) is gaining momentum, with more business travellers extending their trips for leisure purposes, aiding the business travel market development. This trend is leading to an increase in demand for diverse travel experiences, extending the market's potential reach beyond traditional business travel services.

Moreover, the global business travel market demand is positively impacted by the growth of SMEs and startups. As these businesses expand their reach and footprint, both domestically and internationally, the demand for business travel is set to increase.

Additionally, the growing awareness about the environmental impact of frequent air travel is prompting businesses to evaluate their travel policies and adopt more sustainable practices, which might alter the dynamics of the business travel market.

Market Segmentation

The market can be divided based on service, industry, traveller, and region.

Market Breakup by Service
  • Transportation
  • Food and Lodging
  • Recreation
Market Breakup by Industry
  • Government
  • Corporate
  • Others
Market Breakup by Traveller
  • Group
  • Solo
  • Others
Market Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global business travel companies. Some of the major key players explored in the report by Expert Market Research are as follows:
  • Airbnb Inc.
  • GBT Travel Services UK Limited
  • BCD Group
  • Booking Holdings Inc.
  • CWT Global B.V.
  • Corporate Travel Management Limited
  • Expedia Group, Inc.
  • Fareportal, Inc.
  • Flight Centre Travel Group Ltd.
  • Wexas Ltd.
  • Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.


1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Business Travel Market Analysis
8.1 Key Industry Highlights
8.2 Global Business Travel Historical Market (2018-2022)
8.3 Global Business Travel Market Forecast (2023-2028)
8.4 Global Business Travel Market by Service
8.4.1 Transportation
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Food and Lodging
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 Recreation
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.5 Global Business Travel Market by Industry
8.5.1 Government
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Corporate
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Others
8.6 Global Business Travel Market by Traveller
8.6.1 Group
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Solo
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 Others
8.7 Global Business Travel Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2022)
8.7.3.2 Forecast Trend (2023-2028)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2022)
8.7.4.2 Forecast Trend (2023-2028)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2022)
8.7.5.2 Forecast Trend (2023-2028)
9 North America Business Travel Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Business Travel Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Business Travel Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Business Travel Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Business Travel Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Airbnb Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 GBT Travel Services UK Limited
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 BCD Group
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Booking Holdings Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 CWT Global B.V.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Corporate Travel Management Limited
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Expedia Group, Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Fareportal, Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Flight Centre Travel Group Ltd.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Wexas Ltd.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Business Travel Market: Key Industry Highlights, 2018 and 2028
2. Global Business Travel Historical Market: Breakup by Service (USD Billion), 2018-2022
3. Global Business Travel Market Forecast: Breakup by Service (USD Billion), 2023-2028
4. Global Business Travel Historical Market: Breakup by Industry (USD Billion), 2018-2022
5. Global Business Travel Market Forecast: Breakup by Industry (USD Billion), 2023-2028
6. Global Business Travel Historical Market: Breakup by Traveler Type (USD Billion), 2018-2022
7. Global Business Travel Market Forecast: Breakup by Traveler Type (USD Billion), 2023-2028
8. Global Business Travel Historical Market: Breakup by Region (USD Billion), 2018-2022
9. Global Business Travel Market Forecast: Breakup by Region (USD Billion), 2023-2028
10. North America Business Travel Historical Market: Breakup by Country (USD Billion), 2018-2022
11. North America Business Travel Market Forecast: Breakup by Country (USD Billion), 2023-2028
12. Europe Business Travel Historical Market: Breakup by Country (USD Billion), 2018-2022
13. Europe Business Travel Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Asia Pacific Business Travel Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Asia Pacific Business Travel Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Latin America Business Travel Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Latin America Business Travel Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Middle East and Africa Business Travel Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Middle East and Africa Business Travel Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. Global Business Travel Market Structure

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