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Latin America Business Travel Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The Latin America business travel market is currently witnessing moderate growth. Business travel or corporate travel is undertaken explicitly for work purposes and to expand business operations. Nowadays, most companies are setting up their in-house travel departments or employing external service providers to anticipate the changes in the global business landscape. Business travel includes various components such as sourcing and procurement, planning and booking, account management, and measuring and reporting. These journeys help integrate the need of the employees with corporate goals and facilitate the company in both financial and other terms.

The Latin America business travel market is primarily driven by the revitalization of the economy in the region. The rise in the demand for international routes has led to increased traffic and revenue passenger kilometers (RPKs). Along with this, the low-cost carriers (LCCs) are gaining prominence in countries like Colombia, Peru, Argentina, and Chile, which is providing significant growth opportunities to the market players. Furthermore, the region is becoming a business hub and is opening doors for corporations worldwide that will positively impact the industry. Moreover, with increasing business activities, there is a greater need for travel compliance. On account of these factors, the market is expected to continue its strong growth during the forecast period (2021-2026).

Latin America Business Travel Market Report

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Latin America business travel market report, along with forecasts for growth at the region level from 2021-2026. Our report has categorized the market based on region, 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 Region:

  • Brazil
  • Mexico
  • Argentina
  • Columbia
  • Chile
  • Peru
  • Others
     

Competitive Landscape:

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

Key Questions Answered in This Report:

  • How has the Latin America 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 Latin America 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 Latin America business travel market and who are the key players?
  • What is the degree of competition in the industry?

1    Preface
2    Scope and Methodology 

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Latin America 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
    13.1    Brazil
        13.1.1 Market Trends
        13.1.2 Market Breakup by Type
        13.1.3 Market Breakup by Purpose Type
        13.1.4 Market Breakup by Expenditure
        13.1.5 Market Breakup by Age Group
        13.1.6 Market Breakup by Service Type
        13.1.7 Market Breakup by Travel Type
        13.1.8 Market Breakup by End User
        13.1.9 Market Forecast
    13.2    Mexico
        13.2.1 Market Trends
        13.2.2 Market Breakup by Type
        13.2.3 Market Breakup by Purpose Type
        13.2.4 Market Breakup by Expenditure
        13.2.5 Market Breakup by Age Group
        13.2.6 Market Breakup by Service Type
        13.2.7 Market Breakup by Travel Type
        13.2.8 Market Breakup by End User
        13.2.9 Market Forecast
    13.3    Argentina
        13.3.1 Market Trends
        13.3.2 Market Breakup by Type
        13.3.3 Market Breakup by Purpose Type
        13.3.4 Market Breakup by Expenditure
        13.3.5 Market Breakup by Age Group
        13.3.6 Market Breakup by Service Type
        13.3.7 Market Breakup by Travel Type
        13.3.8 Market Breakup by End User
        13.3.9 Market Forecast
    13.4    Columbia
        13.4.1 Market Trends
        13.4.2 Market Breakup by Type
        13.4.3 Market Breakup by Purpose Type
        13.4.4 Market Breakup by Expenditure
        13.4.5 Market Breakup by Age Group
        13.4.6 Market Breakup by Service Type
        13.4.7 Market Breakup by Travel Type
        13.4.8 Market Breakup by End User
        13.4.9 Market Forecast
    13.5    Chile
        13.5.1 Market Trends
        13.5.2 Market Breakup by Type
        13.5.3 Market Breakup by Purpose Type
        13.5.4 Market Breakup by Expenditure
        13.5.5 Market Breakup by Age Group
        13.5.6 Market Breakup by Service Type
        13.5.7 Market Breakup by Travel Type
        13.5.8 Market Breakup by End User
        13.5.9 Market Forecast
    13.6    Peru
        13.6.1 Market Trends
        13.6.2 Market Breakup by Type
        13.6.3 Market Breakup by Purpose Type
        13.6.4 Market Breakup by Expenditure
        13.6.5 Market Breakup by Age Group
        13.6.6 Market Breakup by Service Type
        13.6.7 Market Breakup by Travel Type
        13.6.8 Market Breakup by End User
        13.6.9 Market Forecast
    13.7    Others
        13.7.1 Market Trends
        13.7.2 Market Breakup by Type
        13.7.3 Market Breakup by Purpose Type
        13.7.4 Market Breakup by Expenditure
        13.7.5 Market Breakup by Age Group
        13.7.6 Market Breakup by Service Type
        13.7.7 Market Breakup by Travel Type
        13.7.8 Market Breakup by End User
        13.7.9 Market Forecast
14    SWOT Analysis
    14.1    Overview
    14.2    Strengths
    14.3    Weaknesses
    14.4    Opportunities
    14.5    Threats
15    Value Chain Analysis
16    Porters Five Forces Analysis

    16.1    Overview
    16.2    Bargaining Power of Buyers
    16.3    Bargaining Power of Suppliers
    16.4    Degree of Competition
    16.5    Threat of New Entrants
    16.6    Threat of Substitutes
17    Price Analysis
18    Policy and Regulatory Landscape
19    Competitive Landscape

    19.1    Market Structure
    19.2    Key Players
    19.3    Profiles of Key Players

List of Figures

Figure 1: Latin America: Business Travel Market: Major Drivers and Challenges
Figure 2: Latin America: Business Travel Market: Sales Value (in Million US$), 2015-2020
Figure 3: Latin America: Business Travel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 4: Latin America: Business Travel Market: Breakup by Type (in %), 2020
Figure 5: Latin America: Business Travel Market: Breakup by Purpose Type (in %), 2020
Figure 6: Latin America: Business Travel Market: Breakup by Expenditure (in %), 2020
Figure 7: Latin America: Business Travel Market: Breakup by Age Group (in %), 2020
Figure 8: Latin America: Business Travel Market: Breakup by Service Type (in %), 2020
Figure 9: Latin America: Business Travel Market: Breakup by Travel Type (in %), 2020
Figure 10: Latin America: Business Travel Market: Breakup by End User (in %), 2020
Figure 11: Latin America: Business Travel Market: Breakup by Country (in %), 2020
Figure 12: Latin America: Business Travel (Managed Business Travel) Market: Sales Value (in Million US$), 2015 & 2020
Figure 13: Latin America: Business Travel (Managed Business Travel) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 14: Latin America: Business Travel (Unmanaged Business Travel) Market: Sales Value (in Million US$), 2015 & 2020
Figure 15: Latin America: Business Travel (Unmanaged Business Travel) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 16: Latin America: Business Travel (Marketing) Market: Sales Value (in Million US$), 2015 & 2020
Figure 17: Latin America: Business Travel (Marketing) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 18: Latin America: Business Travel (Internal Meetings) Market: Sales Value (in Million US$), 2015 & 2020
Figure 19: Latin America: Business Travel (Internal Meetings) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 20: Latin America: Business Travel (Trade Shows) Market: Sales Value (in Million US$), 2015 & 2020
Figure 21: Latin America: Business Travel (Trade Shows) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 22: Latin America: Business Travel (Product Launch) Market: Sales Value (in Million US$), 2015 & 2020
Figure 23: Latin America: Business Travel (Product Launch) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 24: Latin America: Business Travel (Other Purpose Types) Market: Sales Value (in Million US$), 2015 & 2020
Figure 25: Latin America: Business Travel (Other Purpose Types) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 26: Latin America: Business Travel (Travel Fare) Market: Sales Value (in Million US$), 2015 & 2020
Figure 27: Latin America: Business Travel (Travel Fare) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 28: Latin America: Business Travel (Lodging) Market: Sales Value (in Million US$), 2015 & 2020
Figure 29: Latin America: Business Travel (Lodging) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 30: Latin America: Business Travel (Dining) Market: Sales Value (in Million US$), 2015 & 2020
Figure 31: Latin America: Business Travel (Dining) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 32: Latin America: Business Travel (Other Expenditures) Market: Sales Value (in Million US$), 2015 & 2020
Figure 33: Latin America: Business Travel (Other Expenditures) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 34: Latin America: Business Travel (Travelers Below 40 Years) Market: Sales Value (in Million US$), 2015 & 2020
Figure 35: Latin America: Business Travel (Travelers Below 40 Years) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 36: Latin America: Business Travel (Travelers Above 40 Years) Market: Sales Value (in Million US$), 2015 & 2020
Figure 37: Latin America: Business Travel (Travelers Above 40 Years) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 38: Latin America: Business Travel (Transportation) Market: Sales Value (in Million US$), 2015 & 2020
Figure 39: Latin America: Business Travel (Transportation) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 40: Latin America: Business Travel (Food and Lodging) Market: Sales Value (in Million US$), 2015 & 2020
Figure 41: Latin America: Business Travel (Food and Lodging) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 42: Latin America: Business Travel (Recreational Activities) Market: Sales Value (in Million US$), 2015 & 2020
Figure 43: Latin America: Business Travel (Recreational Activities) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 44: Latin America: Business Travel (Other Service Types) Market: Sales Value (in Million US$), 2015 & 2020
Figure 45: Latin America: Business Travel (Other Service Types) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 46: Latin America: Business Travel (Group Travel) Market: Sales Value (in Million US$), 2015 & 2020
Figure 47: Latin America: Business Travel (Group Travel) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 48: Latin America: Business Travel (Solo Travel) Market: Sales Value (in Million US$), 2015 & 2020
Figure 49: Latin America: Business Travel (Solo Travel) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 50: Latin America: Business Travel (Government) Market: Sales Value (in Million US$), 2015 & 2020
Figure 51: Latin America: Business Travel (Government) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 52: Latin America: Business Travel (Corporate) Market: Sales Value (in Million US$), 2015 & 2020
Figure 53: Latin America: Business Travel (Corporate) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 54: Latin America: Business Travel (Other End Users) Market: Sales Value (in Million US$), 2015 & 2020
Figure 55: Latin America: Business Travel (Other End Users) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 56: Brazil: Business Travel Market: Sales Value (in Million US$), 2015 & 2020
Figure 57: Brazil: Business Travel Market: Breakup by Type (in %), 2020
Figure 58: Brazil: Business Travel Market: Breakup by Purpose Type (in %), 2020
Figure 59: Brazil: Business Travel Market: Breakup by Expenditure (in %), 2020
Figure 60: Brazil: Business Travel Market: Breakup by Age Group (in %), 2020
Figure 61: Brazil: Business Travel Market: Breakup by Service Type (in %), 2020
Figure 62: Brazil: Business Travel Market: Breakup by Travel Type (in %), 2020
Figure 63: Brazil: Business Travel Market: Breakup by End User (in %), 2020
Figure 64: Brazil: Business Travel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 65: Mexico: Business Travel Market: Sales Value (in Million US$), 2015 & 2020
Figure 66: Mexico: Business Travel Market: Breakup by Type (in %), 2020
Figure 67: Mexico: Business Travel Market: Breakup by Purpose Type (in %), 2020
Figure 68: Mexico: Business Travel Market: Breakup by Expenditure (in %), 2020
Figure 69: Mexico: Business Travel Market: Breakup by Age Group (in %), 2020
Figure 70: Mexico: Business Travel Market: Breakup by Service Type (in %), 2020
Figure 71: Mexico: Business Travel Market: Breakup by Travel Type (in %), 2020
Figure 72: Mexico: Business Travel Market: Breakup by End User (in %), 2020
Figure 73: Mexico: Business Travel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 74: Argentina: Business Travel Market: Sales Value (in Million US$), 2015 & 2020
Figure 75: Argentina: Business Travel Market: Breakup by Type (in %), 2020
Figure 76: Argentina: Business Travel Market: Breakup by Purpose Type (in %), 2020
Figure 77: Argentina: Business Travel Market: Breakup by Expenditure (in %), 2020
Figure 78: Argentina: Business Travel Market: Breakup by Age Group (in %), 2020
Figure 79: Argentina: Business Travel Market: Breakup by Service Type (in %), 2020
Figure 80: Argentina: Business Travel Market: Breakup by Travel Type (in %), 2020
Figure 81: Argentina: Business Travel Market: Breakup by End User (in %), 2020
Figure 82: Argentina: Business Travel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 83: Columbia: Business Travel Market: Sales Value (in Million US$), 2015 & 2020
Figure 84: Columbia: Business Travel Market: Breakup by Type (in %), 2020
Figure 85: Columbia: Business Travel Market: Breakup by Purpose Type (in %), 2020
Figure 86: Columbia: Business Travel Market: Breakup by Expenditure (in %), 2020
Figure 87: Columbia: Business Travel Market: Breakup by Age Group (in %), 2020
Figure 88: Columbia: Business Travel Market: Breakup by Service Type (in %), 2020
Figure 89: Columbia: Business Travel Market: Breakup by Travel Type (in %), 2020
Figure 90: Columbia: Business Travel Market: Breakup by End User (in %), 2020
Figure 91: Columbia: Business Travel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 92: Chile: Business Travel Market: Sales Value (in Million US$), 2015 & 2020
Figure 93: Chile: Business Travel Market: Breakup by Type (in %), 2020
Figure 94: Chile: Business Travel Market: Breakup by Purpose Type (in %), 2020
Figure 95: Chile: Business Travel Market: Breakup by Expenditure (in %), 2020
Figure 96: Chile: Business Travel Market: Breakup by Age Group (in %), 2020
Figure 97: Chile: Business Travel Market: Breakup by Service Type (in %), 2020
Figure 98: Chile: Business Travel Market: Breakup by Travel Type (in %), 2020
Figure 99: Chile: Business Travel Market: Breakup by End User (in %), 2020
Figure 100: Chile: Business Travel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 101: Peru: Business Travel Market: Sales Value (in Million US$), 2015 & 2020
Figure 102: Peru: Business Travel Market: Breakup by Type (in %), 2020
Figure 103: Peru: Business Travel Market: Breakup by Purpose Type (in %), 2020
Figure 104: Peru: Business Travel Market: Breakup by Expenditure (in %), 2020
Figure 105: Peru: Business Travel Market: Breakup by Age Group (in %), 2020
Figure 106: Peru: Business Travel Market: Breakup by Service Type (in %), 2020
Figure 107: Peru: Business Travel Market: Breakup by Travel Type (in %), 2020
Figure 108: Peru: Business Travel Market: Breakup by End User (in %), 2020
Figure 109: Peru: Business Travel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 110: Others: Business Travel Market: Sales Value (in Million US$), 2015 & 2020
Figure 111: Others: Business Travel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 112: Latin America: Business Travel Industry: SWOT Analysis
Figure 113: Latin America: Business Travel Industry: Value Chain Analysis
Figure 114: Latin America: Business Travel Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: Latin America: Business Travel Market: Key Industry Highlights, 2020 and 2026
Table 2: Latin America: Business Travel Market Forecast: Breakup by Type (in Million US$), 2021-2026
Table 3: Latin America: Business Travel Market Forecast: Breakup by Purpose Type (in Million US$), 2021-2026
Table 4: Latin America: Business Travel Market Forecast: Breakup by Expenditure (in Million US$), 2021-2026
Table 5: Latin America: Business Travel Market Forecast: Breakup by Age Group (in Million US$), 2021-2026
Table 6: Latin America: Business Travel Market Forecast: Breakup by Service Type (in Million US$), 2021-2026
Table 7: Latin America: Business Travel Market Forecast: Breakup by Travel Type (in Million US$), 2021-2026
Table 8: Latin America: Business Travel Market Forecast: Breakup by End User (in Million US$), 2021-2026
Table 9: Latin America: Business Travel Market Forecast: Breakup by Country (in Million US$), 2021-2026
Table 10: Latin America: Business Travel Market: Competitive Structure
Table 11: Latin America: Business Travel Market: Key Players

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