United States Business Travel Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

United States Business Travel Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A3459
Year End sale Buy Now

Market Overview:

The United States business travel market size reached US$ 201.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 355 Billion by 2028, exhibiting a growth rate (CAGR) of 10.1% during 2023-2028.

Business travel, or corporate travel, refers to trips undertaken for work or expanding business operations. The process involves traveling to different branch locations to meet with suppliers and buyers or attending events like conferences and business meetings. Business travel also includes several other components such as meeting clients, brand and production promotion, employee training and incentives, and business expansion. In the United States, digitization in the tourism and corporate sectors has led to the growing demand for business travel across the country.

The United States business travel market is primarily driven by the growing focus on domestic networks. Additionally, the increasing demand for traveling on international routes and the weakening of the dollar have encouraged visitors to opt for business travel in the United States. With a significant rise in the number of business activities, several corporate organizations have collaborated with the leading business travel companies to provide customized collaborative spaces and team-building exercises to relieve stress and improve work efficiency.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the United States business travel market report, along with forecasts at the country and regional levels from 2023-2028. 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 Region:

  • Northeast
  • Midwest
  • South
  • West
     

Competitive Landscape:

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

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units AUS$ Billion
Scope of the Report
Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
  • Type
  • Purpose Type
  • Expenditure
  • Age Group
  • Service Type
  • Travel Type
  • End User
  • Region
Types Covered Managed Business Travel, Unmanaged Business Travel
Purpose Types Covered Marketing, Internal Meetings, Trade Shows, Product Launch, Others
Expenditures Covered Travel Fare, Lodging, Dining, Others
Age Groups Covered Travelers Below 40 Years, Travelers Above 40 Years
Service Types Covered Transportation, Food and Lodging, Recreational Activities, Others
Travel Types Covered Group Travel, Solo Travel
End Users Covered Government, Corporate, Others
Regions Covered Northeast, Midwest, South, West
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2699
Five User License: US$ 3699
Corporate License: US$ 4699
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report:

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

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United States Business Travel Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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