Market Overview 2022-2027:

The Asia Pacific business travel market size reached US$ 414.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 641.2 Billion by 2027, exhibiting a growth rate (CAGR) of 6% during 2022-2027. 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 refers to a journey that is taken explicitly for work or expanding business operations. Also known as corporate travel, it includes various components like client meetings, promoting brands and products, business expansion, and employee training and incentives. In the Asia Pacific region, business travel is gaining immense preference among organizations due to rapid globalization and increased business activities.

The Asia Pacific business travel market is primarily driven by the rising middle class and stable economic growth in the region. The increasing adoption of technology in travel management processes is also contributing to the market. Additionally, rapid digitization in the tourism and corporate sectors, coupled with the penetration of the Internet of Things (IoT), has helped both travelers and travel operators to operate swiftly and efficiently. Furthermore, there has been a rising trend of B-leisure travel, which incorporates business with pleasure elements while offering recreational activities for relieving stress and improving work efficiency.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Asia Pacific business travel market report, along with forecasts at the regional and country level from 2022-2027. Our report has categorized the market based on type, purpose type, expenditure, age group, service type, travel type and end user.

Breakup by Type:

• Managed Business Travel
• Unmanaged Business Travel
   

Breakup by Purpose Type:

• Marketing
• Internal Meetings
• Trade Shows
• Product Launch
• Others
   

Breakup by Expenditure:

• Travel Fare
• Lodging
• Dining
• Others
   

Breakup by Age Group:

• Travelers Below 40 Years
• Travelers Above 40 Years
   

Breakup by Service Type:

• Transportation
• Food and Lodging
• Recreational Activities
• Others
   

Breakup by Travel Type:

• Group Travel
• Solo Travel
   

Breakup by End User:

• Government
• Corporate
• Others
   

Breakup by Country:

• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Coverage:

Key Questions Answered in This Report:

• How has the Asia Pacific business travel market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Asia Pacific business travel market?
• What are the key regional markets?
• What is the breakup of the market based on the type?
• What is the breakup of the market based on the purpose type?
• What is the breakup of the market based on the expenditure?
• What is the breakup of the market based on the age group?
• What is the breakup of the market based on the service type?
• What is the breakup of the market based on the travel type?
• What is the breakup of the market based on the end user?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the Asia Pacific business travel market and who are the key players?
• What is the degree of competition in the industry?