Global Business Travel Market Report 2024: Mixing Recreation with Business - The New Mantra in Business Travel

DUBLIN, March 28, 2024 /PRNewswire/ -- The "Business Travel - Global Strategic Business Report" has been added to  ResearchAndMarkets.com's offering.

The global market for Business Travel estimated at US$690.6 Billion in the year 2023, is projected to reach a revised size of US$928.4 Billion by 2030, growing at a CAGR of 3.8% over the analysis period 2023-2030.

Business Travel Food & Lodging, one of the segments analyzed in the report, is projected to record 4.4% CAGR and reach US$509.8 Billion by the end of the analysis period. Growth in the Recreation segment is estimated at 3.4% CAGR for the next 8-year period.

The Business Travel market in the U.S. is estimated at US$246.7 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$59.2 Billion by the year 2030 trailing a CAGR of 5.3% over the analysis period 2023 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 3.8% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR.

Key Market Trends & Drivers

• Trends in Travel & Tourism: An Indication of Dynamics in Business Travel Market
• Mixing Recreation with Business: The New Mantra in Business Travel
• Event Planning Industry's Transition towards Virtual Platforms and Implications for Business Travels
• Trade Volumes and Trade Wars Closely Correlated to Spending on Business Travel
• New Services Emerge as Competitors to Travel Management Companies
• Using Business Travel to Enhance Employee Satisfaction
• Bleisure Emerges as a Popular Business Travel Trend
• Focus on Enhancing Customer Service
• Rising Importance of Personalized Travel
• Sustainability Emerges as a Notable Trend in Business Travel
• Technological Advancements Augur Well for the Market
• Rising Importance of Artificial and Machine Learning in Business Travel
• Mobile Devices Become Integral to Business Travel Industry
• Growth of SMEs Bodes Well for the Business Travel Industry
• Airport Retailers Target Business Travelers
• Digitalization of Travel Payments & Guest Data Supports Business Travel Market

Challenges Facing Business Travel Market

• Data Breaches and Fraud Impact Business Travel

The report covers 70 key competitors in the industry.  

A selection of featured companies include:

• Amadeus IT Group SA
• Akcine bendrove Lietuvos pastas
• ATITECH S.p.A.
• 1byone, Inc.
• ASCO Group Limited
• Airbnb Inc.
• Amber Gold Sp. z o.o.
• Affinity Group Limited
• Amira Enterprises Inc.
• Aurora Media Worldwide UK Ltd.
• APT Asia Pacific
• A.bergs DataSystem AB
• Ad Magic, Inc.
• Apricot Technologies Limited
• Aqualogy Services Company, S.A.

Key Report Features

• Full access to influencer engagement stats
• Free access to digital archives & research platform. The proprietary platform is fully enabled to unlock creativity and market knowledge of domain experts worldwide in a cohesive and collaborative manner. The state-of-art tools bring world class market perspectives while protecting participants` privacy and identity. Numbers, statistics and market narrative in the report are based on fully curated insights shared by domain experts and influencers in this space.
• Opportunity to engage with interactive questionnaires that come with real-time data simulator tools & bespoke report generation capabilities
• Full client access to peer collaborative and interactive platform for cross-enterprise smart exchange of ideas
• Complimentary report updates for one year
• Competitor coverage with global market shares of major players
• Player market presence analysis (Strong/Active/Niche/Trivial) across multiple geographies
• Access to curated YouTube video transcripts of domain experts/influencer interviews, podcasts, press statements and event keynotes

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Business Travel Evolves into Multi-Faceted Endeavor
• Global Market Prospects & Outlook
• Major Purposes of Business Trips
• Competition
• Startups Disrupt the Business Travel Market
• World Brands
• Recent Market Activity
• Business Travel - Global Key Competitors Percentage Market Share in 2023 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

• United States
• Canada
• Japan
• China
• Europe
• France
• Germany
• Italy
• United Kingdom
• Spain
• Russia
• Rest of Europe
• Asia-Pacific
• Australia
• India
• South Korea
• Rest of Asia-Pacific
• Latin America
• Argentina
• Brazil
• Mexico
• Rest of Latin America
• Middle East
• Iran
• Israel
• Saudi Arabia
• United Arab Emirates
• Rest of Middle East
• Africa

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/xebola

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SOURCE Research and Markets