{"product_id":"business-travel-market-global-industry-trends-share-size-growth-opportunity-and-forecast-2023-2028","title":"Business Travel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028","description":"\u003cp\u003eBusiness Travel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028\u003cbr\u003e\nMarket Overview:\u003c\/p\u003e\n\n\u003cp\u003eThe global business travel market size reached US$ 1.0 Trillion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1.5 Trillion by 2028, exhibiting a growth rate (CAGR) of 7.6% during 2023-2028.\u003c\/p\u003e\n\n\u003cp\u003eBusiness travel, also known as corporate travel, is a journey explicitly undertaken for work purposes or to expand business operations. It includes traveling to a different branch of the company, or to a different location to meet with suppliers and buyers, or for conferences and business events. In recent years, the rapidly globalizing world has accelerated the trend of business travel, which collectively includes client meetings, brand and product promotion, business expansion, and employee training and incentives.\u003c\/p\u003e\n\n\u003cp\u003eThe global market is primarily being influenced by the increasing digitization in the tourism and corporate sectors. In line with this, growing penetration of the Internet of Things (IoT) has enabled both the travelers and the travel operators to get things done swiftly and with ease. Along with this, the virtual reality (VR) technology also provides better, efficient and personalized customer experiences, thus bolstering the market growth. Apart from this, the rising trend of Bleisure travel, which incorporates business with pleasure elements and offers leisure or recreational activities to relieve stress and improve work efficiency, has provided a positive thrust to the market. Large-scale developments in the travel and tourism sector, an increase in small and medium enterprises (SMEs) and fast-paced globalization has led to a rise in the number of business travelers. This, along with tie-ups of several corporate organizations with the leading business travel companies to provide customized collaborative spaces and team-building exercises, is acting as another major growth-inducing factor.\u003c\/p\u003e\n\n\u003cp\u003eKey Market Segmentation:\u003c\/p\u003e\n\n\u003cp\u003eIMARC Group provides an analysis of the key trends in each sub-segment of the global business travel market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, purpose type, expenditure, age group, service type, travel type and end-user.\u003c\/p\u003e\n\n\u003cp\u003eBreakup by Type:\u003c\/p\u003e\n\n\u003cp\u003eManaged Business Travel\u003cbr\u003e\nUnmanaged Business Travel\u003c\/p\u003e\n\n\u003cp\u003eBreakup by Purpose Type:\u003c\/p\u003e\n\n\u003cp\u003eMarketing\u003cbr\u003e\nInternal Meetings\u003cbr\u003e\nTrade Shows\u003cbr\u003e\nProduct Launch\u003cbr\u003e\nOthers\u003c\/p\u003e\n\n\u003cp\u003eBreakup by Expenditure:\u003c\/p\u003e\n\n\u003cp\u003eTravel Fare\u003cbr\u003e\nLodging\u003cbr\u003e\nDining\u003cbr\u003e\nOthers\u003c\/p\u003e\n\n\u003cp\u003eBreakup by Age Group:\u003c\/p\u003e\n\n\u003cp\u003eTravelers Below 40 Years\u003cbr\u003e\nTravelers Above 40 Years\u003c\/p\u003e\n\n\u003cp\u003eBreakup by Service Type:\u003c\/p\u003e\n\n\u003cp\u003eTransportation\u003cbr\u003e\nFood and Lodging\u003cbr\u003e\nRecreational Activities\u003cbr\u003e\nOthers\u003c\/p\u003e\n\n\u003cp\u003eBreakup by Travel Type:\u003c\/p\u003e\n\n\u003cp\u003eGroup Travel\u003cbr\u003e\nSolo Travel\u003c\/p\u003e\n\n\u003cp\u003eBreakup by End-User:\u003c\/p\u003e\n\n\u003cp\u003eGovernment\u003cbr\u003e\nCorporate\u003cbr\u003e\nOthers\u003c\/p\u003e\n\n\u003cp\u003eBreakup by Region:\u003c\/p\u003e\n\n\u003cp\u003eNorth America\u003c\/p\u003e\n\n \u003cp\u003eUnited States\u003cbr\u003e\n Canada\u003c\/p\u003e\n\n\u003cp\u003eAsia Pacific\u003c\/p\u003e\n\n \u003cp\u003eChina\u003cbr\u003e\n Japan\u003cbr\u003e\n India\u003cbr\u003e\n South Korea\u003cbr\u003e\n Australia\u003cbr\u003e\n Indonesia\u003cbr\u003e\n Others\u003c\/p\u003e\n\n  \u003cp\u003eEurope\u003cbr\u003e\n Germany\u003cbr\u003e\n France\u003cbr\u003e\n United Kingdom\u003cbr\u003e\n Italy\u003cbr\u003e\n Spain\u003cbr\u003e\n Russia\u003cbr\u003e\n Others\u003c\/p\u003e\n\n\u003cp\u003eLatin America\u003c\/p\u003e\n\n \u003cp\u003eBrazil\u003cbr\u003e\n Mexico\u003cbr\u003e\n Others\u003c\/p\u003e\n\n\u003cp\u003eMiddle East and Africa\u003c\/p\u003e\n\n\u003cp\u003eCompetitive Landscape:\u003c\/p\u003e\n\n\u003cp\u003eThe report has also analysed the competitive landscape of the market with some of the key players being 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 Ltd. etc.\u003c\/p\u003e\n\n\u003cp\u003eKey Questions Answered in This Report:\u003c\/p\u003e\n\n\u003cp\u003eWhat is the expected growth rate of the global business travel market during 2023-2028?\u003c\/p\u003e\n\n\u003cp\u003eWhat are the key factors driving the global business travel market?\u003c\/p\u003e\n\n\u003cp\u003eWhat has been the impact of COVID-19 on the global business travel market?\u003c\/p\u003e\n\n\u003cp\u003eWhat is the breakup of the global business travel market based on the type?\u003c\/p\u003e\n\n\u003cp\u003eWhat is the breakup of the global business travel market based on the purpose type?\u003c\/p\u003e\n\n\u003cp\u003eWhat is the breakup of the global business travel market based on the expenditure?\u003c\/p\u003e\n\n\u003cp\u003eWhat is the breakup of the global business travel market based on the age group?\u003c\/p\u003e\n\n\u003cp\u003eWhat is the breakup of the global business travel market based on the service type?\u003c\/p\u003e\n\n\u003cp\u003eWhat is the breakup of the global business travel market based on the travel type?\u003c\/p\u003e\n\n\u003cp\u003eWhat is the breakup of the global business travel market based on the end-user?\u003c\/p\u003e\n\n\u003cp\u003eWhat are the key regions in the global business travel market?\u003c\/p\u003e\n\n\u003cp\u003eWho are the key companies\/players in the global business travel market?\u003c\/p\u003e","brand":"Travel \u0026 Leisure","offers":[{"title":"May, 2023 \/ 142 Pages \/ MCW16196190","offer_id":47553814298930,"sku":null,"price":2999.0,"currency_code":"USD","in_stock":true}],"url":"https:\/\/www.hardmanwell.com\/products\/business-travel-market-global-industry-trends-share-size-growth-opportunity-and-forecast-2023-2028","provider":"HARDMAN AND WELL MANAGEMENT CONSULTANCIES L.L.C","version":"1.0","type":"link"}