United States Business Travel Market to Grow at 10.1% During 2023-2028, Bolstered by Rapid Digitization

October 13, 2021 | Transportation and Logistics

The latest report by IMARC Group, titled “United States Business Travel Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the United States business travel market reached a value of US$ 201.3 Billion in 2022. Business travel, or corporate travel, refers to traveling undertaken for business or work-related purposes. It generally involves meeting with suppliers or buyers or visiting a worksite at a different branch of the company or to a different location to build partnerships and strengthen relations between two entities. It also includes attending a conference, convention, or trade show, considering, examining, inspecting, or assessing new markets, and evaluating a project site. Business travel is necessary for individual interaction as it builds good support for future and existing relationships. Nowadays, business travel is gaining popularity due to the increasing digitization in the tourism and corporate sectors across the United States.


United States Business Travel Market Trends: 

The United States business travel market is primarily driven by the increasing digitization and the penetration of the Internet of Things (IoT) in the tourism and corporate sectors, facilitating the smooth operation for both travelers and the travel operators. They enable efficient and personalized customer experiences through the use of virtual reality (VR) technology. In addition to this, the rising number of start-ups, small and medium enterprises (SMEs), and tie-ups of various corporate organizations due to rapid globalization are increasing the number of business travelers. Furthermore, extensive investments in domestic as well as international business trips by various organizations, coupled with the weakening of the dollar, are fueling the market growth. Looking forward, the market is expected to grow at a CAGR of 10.1% during the forecast period (2023-2028).


Market Summary: 

  • Based on the type, the market has been segmented into managed and unmanaged business travel.
  • On the basis of the purpose type, the market has been classified into marketing, internal meetings, trade shows, product launch, and others.
  • The market has been categorized based on the expenditure into travel fare, lodging, dining, others.
  • On the basis of the age group, the market has been bifurcated into travelers below 40 years and above 40 years.
  • Based on the service type, the market has been segregated into transportation, food and lodging, recreational activities, and others.
  • The market has been categorized on the basis of the travel type into group and solo travel.
  • On the basis of the end user, the market has been segmented into government, corporate, and others.
  • Region-wise, the market has been divided into Northeast, Midwest, South, and West.
  • The competitive landscape of the market has been examined in the report, with the detailed profiles of some of the key players operative in the industry.

Report Scope:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ 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)


About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, and nanotechnology industries. We also provide cost model and manufacturing setup project reports through Syndicated Analytics, a subsidiary of IMARC Group.

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United States Business Travel Market to Grow at 10.1% During 2023-2028, Bolstered by Rapid Digitization
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