The total inbound business travel spending in the United States was close to 40 billion U.S. dollars in 2023, recovering fully from the COVID-19 pandemic. In comparison to 2020, this figure represents an increase of 217 percent.

Global business tourism spending was estimated to reach approximately *** trillion U.S. dollars in 2024, which represents a full recovery from the COVID-19 pandemic. Business travel is a branch of the tourism industry focusing on trips made for work-related purposes. Attending congresses, meetings, and trade fairs, for instance, are among the main activities related to this market. How did the COVID-19 pandemic hit domestic and international business trips? After the outbreak of the coronavirus (COVID-19) pandemic in 2020, companies worldwide had to revisit their trip plans, as different restrictions adopted across the world disrupted global travel. According to a study by the Global Business Travel Association (GBTA), the share of companies canceling most or all domestic business trips worldwide reached ** percent as of October 2021. Meanwhile, almost ***** in *** surveyed firms suspended international business travel as of the same month. Which company spent the most on booked air volume in the U.S.? As the pandemic hit the business travel market hard in 2020, it comes as no surprise that the volume of air tickets purchased by companies in the United States experienced a sharp decline due to the health crisis. While Deloitte spent over *** million U.S. dollars on air travel in 2019, it reported an expenditure of ** million U.S. dollars in 2020. That year, the company ranked as the second leading air travel spender in the U.S. behind Amazon.

In 2024, the global business travel spending increased by more than ** percent. In the following years, it is expected that the expenditure of business tourists keeps growing, but not at the same pace. Resuming business travel after COVID-19 The global health crisis significantly affected the business travel industry, as is evident from the significant drop in business travel spending in 2020. Specifically, the predicted loss in business travel spending worldwide due to COVID-19 added up to more than *** billion U.S. dollars in 2020. While the pandemic is gradually becoming less severe, the impact it had on the travel industry remains. As of February 2022, around one out of ten employees worldwide were still either unwilling or unsure to take business trips. Most expensive cities for business travel Studies have identified the most expensive cities when embarking on travel for business purposes. In 2020, Tokyo was the most expensive city for business travel worldwide based on daily costs. Average costs per day in the capital city of Japan amounted to ****** U.S. dollars in that year. Looking at the most expensive cities for business travel worldwide by daily hotel costs, however, Tel Aviv reported the highest daily prices.

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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?

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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 execut

Introduction

Business Travel Statistics: Business travel is making a strong comeback—and it's changing fast. After the slowdown during the pandemic, more companies are sending employees on work trips again; however, the way they travel and the reasons behind it have undergone significant shifts. This topic is important because business travel impacts company spending, work performance, team connections, and employee satisfaction.

In this article, “Business Travel Statistics “, you'll find the latest numbers on business travel, including how much money is being spent, what travellers are doing, the most popular places to go, and how remote work is changing things. We’ll also highlight major trends for 2025 so you can see where the business travel industry is now and what’s coming next.

Introduction

Business Travel Statistics: Even after the upsurge of the COVID-19 pandemic, business travel remains an essential aspect of growing your business. Business travel allows for the exploration of new opportunities and outlooks for those who travel. Despite various technological advancements, corporate travel trends show that there is no replacement for face-to-face interactions.

Traveling can also hold up corporate initiatives for developing skills, networking, and recruitment. Nevertheless, the introduction of COVID-19 has thrown a wrench at some of those travel plans and has led to the importance of risk assessment and essential changes in future travels. We shall shed more light on Business Travel Statistics through this article.

China is expected to be the world's leading business travel market in 2024, with an estimated total travel spending of almost *** billion U.S. dollars. The United States ranked second in the list. In that year, the global business travel industry recovered fully after the effect of the COVID-19 pandemic.

The global business travel market was worth approximately *** billion U.S. dollars in 2020, according to data published by Allied Market Research. This value is expected to grow by *** percent in 2028.

The Latin America business travel market size reached USD 50.6 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 86.9 Billion by 2033, exhibiting a growth rate (CAGR) of 5.89% during 2025-2033. The rising investments in transportation and communication infrastructure, the implementation of favorable government policies to attract foreign investments to promote business growth, and the significant expansion in several industries are some of the major factors propelling the market.

IMARC Group provides an analysis of the key trends in each segment of the Latin America business travel market report, along with forecasts at the regional and country levels from 2025-2033. Our report has categorized the market based on type, purpose type, expenditure, age group, service type, travel type and end user.

Graph and download economic data for All Employees: Professional and Business Services: Travel Arrangement and Reservation Services in New York (SMU36000006056150001) from Jan 1990 to Jun 2025 about travel, NY, services, employment, and USA.

The India business travel market size reached USD 41.6 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 80.5 Billion by 2033, exhibiting a growth rate (CAGR) of 7.22% during 2025-2033.

IMARC Group provides an analysis of the key trends in each sub-segment of the India business travel market report, along with forecasts at the country and regional level from 2025-2033. Our report has categorized the market based on type, purpose type, expenditure, age group, service type, travel type and end user.

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

Number of Businesses statistics on the Corporate Travel Services industry in the UK

VTC conducts research on an ongoing basis among travelers visiting the Commonwealth. This dataset contains details on the overnight trips for 2022. Overnight trips of 50+ miles, one-way, with one or more nights away from home to Virginia during CY 2022 for Business purposes including meetings, convention, conferences, and trade shows.

As of mid-2024, it was estimated that the global business travel spending at the end of that year would amount to nearly *** trillion U.S. dollars. By 2028, this figure is projected to reach over *** trillion dollars.

The business tourism market, encompassing travel for conferences, meetings, and corporate events, presents a significant and dynamic sector poised for substantial growth. While precise figures are unavailable without the missing data points, industry trends suggest a robust market size. Considering the diverse segments – encompassing Millennials, Generation X, and Baby Boomers across varied tourism types (natural scenery, humanistic tourism, and diet-focused travel) – a complex interplay of factors drives market expansion. The rising prevalence of hybrid work models and increased corporate emphasis on team-building activities fuel demand. Technological advancements in event planning and communication tools further streamline operations, enhancing the appeal and efficiency of business travel. However, economic fluctuations and potential future travel restrictions represent significant constraints. The competitive landscape is populated by both established players like TUI Group, Thomas Cook Group, and Abercrombie & Kent Ltd., and niche operators catering to specific business travel needs. Geographic distribution reveals strong regional variations, with North America and Europe likely dominating market share due to their established business infrastructure and high concentration of multinational corporations. Future growth will depend on effectively addressing sustainability concerns within the industry, incorporating technology to enhance the traveler experience, and navigating global economic uncertainties. The forecast period (2025-2033) will likely see continuous growth, though the rate of expansion might fluctuate based on macroeconomic conditions. The segmentation analysis highlights an opportunity for businesses to tailor their offerings to specific demographic groups and travel preferences. For example, millennial business travelers might prioritize experiences and sustainable travel options, while older generations may seek more traditional business travel arrangements. Companies need to adapt their strategies to meet these varying needs to capitalize on market opportunities. Moreover, incorporating data-driven insights to understand traveler behavior and preferences will be crucial for achieving a competitive edge. The regional breakdown presents diverse market entry points and expansion strategies for businesses aiming to participate in this growing sector.

United States SB: Outlook: Business Travel: Not Applicable data was reported at 31.100 % in 11 Apr 2022. This records an increase from the previous number of 25.000 % for 04 Apr 2022. United States SB: Outlook: Business Travel: Not Applicable data is updated weekly, averaging 28.750 % from Nov 2021 (Median) to 11 Apr 2022, with 18 observations. The data reached an all-time high of 33.700 % in 14 Mar 2022 and a record low of 24.000 % in 13 Dec 2021. United States SB: Outlook: Business Travel: Not Applicable data remains active status in CEIC and is reported by U.S. Census Bureau. The data is categorized under Global Database’s United States – Table US.S053: Small Business Pulse Survey: by State: West Region: Weekly, Beg Monday (Discontinued).

Return-On-Equity Time Series for Global Business Travel Group Inc. Global Business Travel Group, Inc. provides business-to-business (B2B) travel platform in the United States, the United Kingdom, and internationally. The company's platform provides a suite of technology-enabled solutions to business travelers and clients; travel content suppliers, such as airlines, hotels, ground transportation providers, and aggregators; and third-party travel agencies. It also offers consulting, meetings and events planning, and outsourced services; and manages end-to-end logistics of business travel, as well as provides a link between businesses and their employees, travel suppliers, and other industry participants. In addition, the company provides Amex GBT Egencia, a digital travel platform; Amex GBT Neo1, an online spend management platform to manage business expenses, including travel; Amex GBT Neo, a customizable global travel platform; Amex GBT Select, a flexible solution to give insights and control across their travel spend; and Amex GBT Ovation, a touch travel solution and personalized corporate travel servicing platform. Global Business Travel Group, Inc. was founded in 2014 and is based in New York, New York.

Global Tourism Market size was worth around $11.39 trillion in 2023 and is predicted to grow to around $18.44 trillion by 2032 with a CAGR of 5.5%.

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Travel Market Size 2024-2028

The travel market size is forecast to increase by USD 2860.2 billion, at a CAGR of 11.1% between 2023 and 2028.

The market is experiencing significant growth, fueled by the increasing popularity of experiential travel and the surge in international tourist footfall. This trend is driven by consumers' shifting preferences towards unique and immersive travel experiences, offering opportunities for companies to differentiate their offerings and cater to this demand. However, the market faces challenges, including the growing threat from terrorism, which can deter travelers and negatively impact the industry. Companies must navigate these challenges by implementing robust security measures and fostering transparency to reassure customers. To capitalize on market opportunities, businesses should focus on delivering personalized, authentic experiences that cater to the evolving needs of travelers. By staying attuned to these trends and addressing the challenges, companies can effectively position themselves in the competitive the market landscape.

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

Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
Request Free SampleIn the ever-evolving the market, various sectors continue to adapt and innovate to meet the changing needs and preferences of consumers. Business travelers seek convenience and efficiency with portable chargers, travel adaptors, and carry-on luggage, while solo travelers prioritize safety with GPS trackers and TSA locks. Sustainable tourism gains traction as eco-friendly options such as biodegradable products, carbon offsetting, and sustainable packaging become more prevalent. Medical tourism and food tourism cater to specific niches, offering unique experiences and specialized services. Travel data analytics and online booking platforms streamline the planning process, while tour guides and local experts provide valuable insights into destinations. Travel writing and journals allow travelers to document their experiences and share them with others. Luxury travel and adventure travel cater to diverse markets, with wheeled luggage, travel pillows, and hiking boots providing comfort and functionality. The marketing and social media platforms connect travelers with new experiences and destinations. Travel influencers and customer loyalty programs offer incentives and personalized recommendations. Tourism management and responsible travel initiatives prioritize the well-being of communities and the environment. Cultural tourism and destination marketing foster appreciation and understanding of diverse cultures. Rental cars and community tourism provide opportunities for authentic experiences and exploration. The market remains dynamic, with ongoing developments and trends shaping the industry. From travel accessories to travel technology, the market continues to evolve, offering new possibilities and experiences for travelers.

How is this Travel Industry segmented?

The travel industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments. SectorTransportationHotelTravel activitiesTypeLeisureBusinessTourCustomized & Private VacationsSafari & AdventureCruises, Yachting & Small Ship ExpeditionsCelebration JourneysCulinary Travel & ShoppingLuxury TrainsCustomized & Private VacationsSafari & AdventureCruises, Yachting & Small Ship ExpeditionsCelebration JourneysCulinary Travel & ShoppingLuxury TrainsAge21-30 Years31-40 Years41-60 Years60 And Above21-30 Years31-40 Years41-60 Years60 And AboveGeographyNorth AmericaUSEuropeFranceUKAPACChinaJapanRest of World (ROW)

By Sector Insights

The transportation segment is estimated to witness significant growth during the forecast period.In the thriving business travel sector, various offerings cater to the diverse needs of modern tourists. First-aid kits and biodegradable products have become essential travel accessories, reflecting a growing emphasis on health and sustainability. Travel insurance policies ensure peace of mind for business travelers, while ear plugs, eye masks, and portable chargers enhance comfort during long flights. Passport holders and sustainable packaging promote organization and eco-consciousness. Carbon offsetting and packing cubes streamline the process of planning and packing for trips. Food tourism and insect repellent cater to the adventurous palate and the need for outdoor exploration. Group travel and duffel bags offer cost savings, while hiking boots and travel data analytics facilitate efficient and enjoyable exploration. Medical tourism and travel safety services ensure well-being during international journeys. Trav