The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.
We expect the global business travel market to exhibit a CAGR of 7.88% during 2022-2027.
The rising popularity of business travel for client meetings, brand and product promotion, business
expansion, and employee training and incentives, is primarily driving the global business travel
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent
lockdown regulations across several nations resulting in temporary halt on international travel
activities, thereby negatively impacting the business travel market.
Based on the type, the global business travel market can be segmented into managed business
travel and unmanaged business travel, where managed business travel exhibits a clear dominance in
Based on the purpose type, the global business travel market has been bifurcated into marketing,
internal meetings, trade shows, product launch, and others. Among these, marketing holds the
majority of the total market share.
Based on the expenditure, the global business travel market can be divided into travel fare, lodging,
dining, and others. Currently, travel fare currently represents the largest market share.
Based on the age group, the global business travel market has been segregated into travelers below
40 years and travelers above 40 years, where travelers below 40 years account for the majority of
the market share.
Based on the service type, the global business travel market can be categorized into transportation,
food and lodging, recreational activities, and others. Among these, food and lodging service
currently exhibits a clear dominance in the market.
Based on the travel type, the global business travel market has been segmented into group travel
and solo travel. Currently, group travel holds the majority of the total market share.
Based on the end-user, the global business travel market can be bifurcated into government,
corporate, and others. Among these, the corporate sector accounts for the largest market share.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle
East and Africa, and Latin America, where Asia Pacific currently dominates the global market.
Some of the major players in the global business travel market include 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
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