Global Business Travel Market Report 2024: Mixing Recreation with Business - The New Mantra in Business Travel

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Mar 28, 2024, 17:30 ET

DUBLIN, March 28, 2024 /PRNewswire/ -- The "Business Travel - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.

The global market for Business Travel estimated at US$690.6 Billion in the year 2023, is projected to reach a revised size of US$928.4 Billion by 2030, growing at a CAGR of 3.8% over the analysis period 2023-2030.

Business Travel Food & Lodging, one of the segments analyzed in the report, is projected to record 4.4% CAGR and reach US$509.8 Billion by the end of the analysis period. Growth in the Recreation segment is estimated at 3.4% CAGR for the next 8-year period.

The Business Travel market in the U.S. is estimated at US$246.7 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$59.2 Billion by the year 2030 trailing a CAGR of 5.3% over the analysis period 2023 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 3.8% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR.

Key Market Trends & Drivers

Trends in Travel & Tourism: An Indication of Dynamics in Business Travel Market
Mixing Recreation with Business: The New Mantra in Business Travel
Event Planning Industry's Transition towards Virtual Platforms and Implications for Business Travels
Trade Volumes and Trade Wars Closely Correlated to Spending on Business Travel
New Services Emerge as Competitors to Travel Management Companies
Using Business Travel to Enhance Employee Satisfaction
Bleisure Emerges as a Popular Business Travel Trend
Focus on Enhancing Customer Service
Rising Importance of Personalized Travel
Sustainability Emerges as a Notable Trend in Business Travel
Technological Advancements Augur Well for the Market
Rising Importance of Artificial and Machine Learning in Business Travel
Mobile Devices Become Integral to Business Travel Industry
Growth of SMEs Bodes Well for the Business Travel Industry
Airport Retailers Target Business Travelers
Digitalization of Travel Payments & Guest Data Supports Business Travel Market

Challenges Facing Business Travel Market

Data Breaches and Fraud Impact Business Travel

The report covers 70 key competitors in the industry.

A selection of featured companies include:

Amadeus IT Group SA
Akcine bendrove Lietuvos pastas
ATITECH S.p.A.
1byone, Inc.
ASCO Group Limited
Airbnb Inc.
Amber Gold Sp. z o.o.
Affinity Group Limited
Amira Enterprises Inc.
Aurora Media Worldwide UK Ltd.
APT Asia Pacific
A.bergs DataSystem AB
Ad Magic, Inc.
Apricot Technologies Limited
Aqualogy Services Company, S.A.

Key Report Features

Full access to influencer engagement stats
Free access to digital archives & research platform. The proprietary platform is fully enabled to unlock creativity and market knowledge of domain experts worldwide in a cohesive and collaborative manner. The state-of-art tools bring world class market perspectives while protecting participants` privacy and identity. Numbers, statistics and market narrative in the report are based on fully curated insights shared by domain experts and influencers in this space.
Opportunity to engage with interactive questionnaires that come with real-time data simulator tools & bespoke report generation capabilities
Full client access to peer collaborative and interactive platform for cross-enterprise smart exchange of ideas
Complimentary report updates for one year
Competitor coverage with global market shares of major players
Player market presence analysis (Strong/Active/Niche/Trivial) across multiple geographies
Access to curated YouTube video transcripts of domain experts/influencer interviews, podcasts, press statements and event keynotes

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Business Travel Evolves into Multi-Faceted Endeavor
Global Market Prospects & Outlook
Major Purposes of Business Trips
Competition
Startups Disrupt the Business Travel Market
World Brands
Recent Market Activity
Business Travel - Global Key Competitors Percentage Market Share in 2023 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

United States
Canada
Japan
China
Europe
France
Germany
Italy
United Kingdom
Spain
Russia
Rest of Europe
Asia-Pacific
Australia
India
South Korea
Rest of Asia-Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East
Iran
Israel
Saudi Arabia
United Arab Emirates
Rest of Middle East
Africa

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/xebola

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