Corporate travel is closely tied to fluctuations in business confidence. Economic uncertainty, Brexit and the COVID-19 pandemic, which brought the industry to a halt in March 2020, significantly dented revenue for agencies at the beginning of the previous five-year period in 2020-21. The industry is still adapting to the new working trends and spending strategies of corporate companies post-pandemic in 2025-26. Demand for travel services has also faced recent hurdles of high prices for flights and hotels due to steep inflation and companies’ efforts to curb their carbon emissions. Video calls are now a cemented alternative to domestic and international business travel that saves time and money for companies. Demand from the industry's largest downstream market, the banking, financial services and insurance industries, has dropped due to the relocation of many companies out of the UK to avoid the loss of passporting rights, which they lost back in 2021. Loss of major financial clients has left a lingering impression on demand for corporate travel agents. Although industry revenue is expected to grow by 7.7% in 2025-26 as businesses increase their levels of travel, revenue is anticipated to soar at a compound annual rate of 41.8% to £4.6 billion over the five years through 2025-26 after it plummeted in 2021-22 amid lockdown restrictions. Agencies have faced unsustainably high operational expenses in recent years, driving many out of the industry and constraining profits. Over the five years through 2030-31, revenue is expected to rise at a compound annual rate of 5.1% to reach £5.9 billion, which is slightly above pre-pandemic industry revenue. The industry is significantly affected by business confidence and profit, meaning the pace at which the economy recovers following sluggish economic growth and dented business confidence will likely influence industry revenue heavily over the coming years. The growing use of virtual meetings and events and the ever-growing demand for online travel agents will slow the market's full recovery. However, progress between the UK and EU regarding ease of travel will stand to benefit the corporate travel services industry in the coming years.

Global Corporate Travel Services Market is segmented by Application (Corporate_Government_Non-Profit_SME_Large Enterprises), Type (Managed Travel Services_Online Booking Tools_Expense Management_Travel Risk Management_Strategic Consulting), and Geography (North America_ LATAM_ West Europe_Central & Eastern Europe_ Northern Europe_ Southern Europe_ East Asia_ Southeast Asia_ South Asia_ Central Asia_ Oceania_ MEA)

The size of the Corporate Travel Agency market was valued at USD 727440 million in 2023 and is projected to reach USD 1152911.44 million by 2032, with an expected CAGR of 6.8% during the forecast period.

Market Size statistics on the Corporate Travel Services industry in the UK

Discover the booming Commercial Travel Agency market! Our in-depth analysis reveals a $852.18 million market in 2025, projected for robust growth driven by increased business travel and technological advancements. Explore key players, regional trends, and future forecasts.

Global Corporate Travel Agency market size 2021 was recorded $38.616 Billion whereas by the end of 2025 it will reach $59.3 Billion. According to the author, by 2033 Corporate Travel Agency market size will become $139.843. Corporate Travel Agency market will be growing at a CAGR of 11.32% during 2025 to 2033.

The report on Corporate Travel Agency covers a summarized study of several factors supporting market growth, such as market size, market type, major regions, and end-user applications. The report enables customers to recognize key drivers that influence and govern the market.

The booming corporate travel agency market is projected to reach [estimated market size in 2033] by 2033, fueled by globalization and post-pandemic recovery. Discover key trends, regional insights, and leading players shaping this dynamic sector. Learn more about CAGR, market segmentation, and future growth opportunities.

The global commercial travel agency market is booming, projected to reach $1 billion+ by 2033 with a 10.9% CAGR. Discover key trends, market segmentation, leading players (CWT, BCD Group, etc.), and regional insights in this comprehensive market analysis.

The global commercial travel agency market is booming, projected to reach $924 million by 2033 with a 10.4% CAGR. This in-depth analysis explores market drivers, trends, restraints, and key players, offering insights into regional growth and lucrative segments like corporate travel management and MICE. Discover the future of business travel.

In 2023, Booking Holdings, whose brands include Booking.com, Priceline, Agoda, and Kayak, was the travel company with the highest gross sales worldwide, generating roughly ***** billion U.S. dollars. Expedia Group - operating brands such as Expedia, Hotels.com, Vrbo, and Trivago - followed behind, with around ***** billion U.S. dollars in gross sales. How big is the global travel and tourism market? According to Statista Market Insights, revenue in the travel and tourism market worldwide - including hotels, package holidays, vacation rentals, camping, and cruises - amounted to over *** billion U.S. dollars in 2023, exceeding the figures recorded before the COVID-19 pandemic. Looking at the global travel and tourism's revenue breakdown by sales channel shows the key role played by online transactions, generating nearly ** percent of the market's income that year. What are the most popular OTA travel apps? Given the importance of online sales in the global travel and tourism market, it does not surprise that the two largest travel companies based on gross sales, Booking Holdings and Expedia Group, are online travel agencies (OTAs). In 2023, Booking.com, the leading brand of Booking Holdings, was the OTA app with the highest number of downloads worldwide, ahead of Airbnb and Agoda. Meanwhile, Booking.com's web page also took the top spot in the ranking of the most visited travel and tourism websites worldwide in 2024, followed by tripadvisor.com.

Corporate Travel Agency Market size was valued at USD 3.54 Billion in 2024 and is projected to reach USD 7.98 Billion by 2032 growing at a CAGR of 10.6% during the forecast period 2026-2032.Global Corporate Travel Agency Market DriversThe market drivers for the Corporate Travel Agency Market can be influenced by various factors. These may include:Digital Transformation and Technology Integration: Advanced booking platforms and automated travel management systems are being adopted extensively by corporate travel agencies. Real-time expense tracking, mobile applications, and AI-powered recommendations are being leveraged to enhance operational efficiency and customer experience.Growing Business Globalization: International business operations are being expanded by companies across various industries, creating increased demand for corporate travel services. Cross-border meetings, conferences, and business partnerships are being facilitated through professional travel management solutions.

The corporate travel agency market, valued at $727.44 million in 2025, is projected to experience robust growth, driven by a Compound Annual Growth Rate (CAGR) of 6.8% from 2025 to 2033. This expansion is fueled by several key factors. The increasing globalization of businesses necessitates frequent international travel for meetings, conferences, and client visits, boosting demand for efficient and reliable corporate travel management. Furthermore, the rise of technology, particularly in areas like travel booking platforms and expense management tools, is streamlining the corporate travel process, attracting more businesses to utilize specialized agencies. The focus on employee well-being and travel safety also contributes to growth, with companies prioritizing agencies that provide comprehensive services and risk mitigation strategies. While economic downturns might temporarily restrain growth, the long-term outlook remains positive due to the fundamental need for efficient and effective corporate travel solutions. Competition within the market is fierce, with established players like CWT, FCM Travel Solutions, and BCD Group vying for market share alongside newer, technology-driven companies like TripActions and Fello. These newer entrants often leverage innovative technology to enhance the traveler experience and offer superior data analytics to corporations. Successful agencies will need to adapt and invest in cutting-edge technology to stay competitive, while simultaneously focusing on building strong client relationships and providing personalized service to retain their market position. Regional variations are expected, with regions experiencing higher economic growth and business activity likely demonstrating stronger market performance. The market is also likely to see further consolidation as larger players acquire smaller firms, leading to a more concentrated market landscape in the coming years. This trend, alongside technological innovations, will shape the future of the corporate travel agency market.

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Business Travel Market Size 2025-2029

The business travel market size is forecast to increase by USD 4867.6 billion, at a CAGR of 38.3% between 2024 and 2029.

The market is experiencing significant shifts, driven by the increasing adoption of advanced technologies and the evolving preferences of consumers. Technological innovations, such as online travel agencies and digital booking platforms, are revolutionizing the way businesses plan and manage their travel arrangements. This trend is further fueled by the growing popularity of online video conferencing platforms, enabling remote work and virtual meetings, thereby reducing the need for extensive business travel. Meanwhile, challenges persist in the form of data security concerns and complex travel policies. With the rise of digital booking platforms, ensuring secure transactions and protecting sensitive business data becomes paramount.
Additionally, managing complex travel policies across diverse teams and locations can be a daunting task, requiring robust solutions to streamline the process and maintain compliance. Companies seeking to capitalize on the opportunities presented by the evolving business travel landscape must focus on addressing these challenges effectively, while leveraging technology to enhance travel management efficiency and productivity.

What will be the Size of the Business Travel Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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The market continues to evolve, with dynamic market activities shaping the landscape across various sectors. Premium economy travel and loyalty programs are increasingly popular, offering enhanced comfort and rewards for frequent business travelers. Flight booking and travel procurement platforms streamline the process, while travel agent services provide expert assistance. Eco-friendly travel options gain traction, aligning with sustainability initiatives. Travel reporting and analytics enable effective business travel management, ensuring policy compliance and cost control. Business class travel, travel concierge services, and ground transportation options cater to the needs of corporate travelers.

Travel technology advances, integrating travel policy compliance, travel risk management, and expense management systems. Bleisure travel, frequent flyer programs, travel rewards, and travel technology further enrich the business travel experience. The ongoing unfolding of market activities underscores the importance of staying informed and adaptable in this ever-evolving landscape.

How is this Business Travel Industry segmented?

The business travel industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  Marketing
  Internal meeting
  Trade show
  Product launch


Type

  Travel fare
  Lodging
  Dining
  Others


Service Type

  Transportation (Air, Rail, Car)
  Accommodation
  Meetings and Events


Booking Type

  Online Travel Agencies
  Direct Bookings
  Corporate Travel Management Companies


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan


  South America

    Brazil


  Rest of World (ROW)

By Application Insights

The marketing segment is estimated to witness significant growth during the forecast period.

Business travel plays a pivotal role in the international marketing efforts of both small and large enterprises. This involves employees traveling to overseas markets to promote products and services, expand customer bases, and build brand reputation. Travel itinerary management and security are essential considerations to ensure the safety and productivity of business travelers. Duty of care and traveler tracking are crucial components of travel risk management, while travel insurance provides financial protection. Travel consolidators offer cost savings through bundled services, including flights, ground transportation, hotels, and car rentals. Carbon offsetting and eco-friendly travel options are increasingly important for companies committed to sustainability.

Travel data analytics enable businesses to make informed decisions on travel procurement and policy compliance. Premium economy travel and business class offerings cater to the needs of frequent travelers, while loyalty programs and travel rewards provide incentives. Travel technology, including travel booking platforms and expense management systems, streamline the travel process. Airport lounges and travel concierge services enhance the travel experience. First class travel and corporate travel policies cater to executives an

The corporate travel agency market is booming, projected to reach $95 billion by 2033, driven by post-pandemic recovery and technological advancements. Discover key market trends, leading companies, and regional insights in our comprehensive analysis.

In 2023, the number of businesses in the travel agency services industry worldwide increased sharply over the previous year, recovering from the impact of the coronavirus (COVID-19) pandemic. Overall, this industry recorded approximately ******* companies in 2023. This figure was expected to reach an estimated ******* in 2024.

The corporate travel market is projected to be valued at $200 billion in 2024, driven by factors such as increasing consumer awareness and the rising prevalence of industry-specific trends. The market is expected to grow at a CAGR of 7.2%, reaching approximately $400 billion by 2034.