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.

Italy registered nearly ** million international business travel arrivals in 2019, according to data published by the World Tourism Organization (UNWTO). In that same year, France reported over ** million inbound business traveler arrivals, while the United States' corporate travel tourism volume amounted to ***** million tourist arrivals.

Domestic business travel spending in the United States reached over *** billion U.S. dollars in 2023. This figure has seen growth since 2020 where it fell to *** billion U.S. dollars as a result of travel restrictions caused by the coronavirus (COVID-19) pandemic. Travel spending is forecast to reach almost *** billion U.S. dollars by 2028.

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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

The coronavirus (COVID-19) pandemic massively disrupted global travel and tourism in 2020. Countries across the globe enacted emergency measures and travel bans to curb the spread of the virus. Due to the impact of the pandemic, business tourism spending fell dramatically in 2020 over the previous year across all global regions. Overall, Asia Pacific recorded the highest figure in 2020, with spending on business trips amounting to nearly 174 billion U.S. dollars that year, dropping sharply from over 403 billion U.S. dollars in 2019. Europe reported the second-highest expenditure in 2020, adding up to 152 billion U.S. dollars.

Leisure travel accounts for the highest global travel and tourism expenditure. In 2024, leisure trips represented roughly ** percent of travel and tourism spending worldwide, showing an increase of *** percentage points over 2019.

The coronavirus (COVID-19) pandemic massively disrupted global travel and tourism in 2020. Countries across the globe enacted emergency measures and travel bans to curb the spread of the virus. Due to the impact of the pandemic, business tourism spending in Europe fell dramatically in 2020 over the previous year. Overall, Germany was the European country recording the highest figure in 2020, with spending on business trips amounting to 36 billion U.S. dollars that year, dropping from 66.5 billion U.S. dollars in 2019. The United Kingdom reported the second-highest expenditure in Europe in 2020, at over 23 billion U.S. dollars.

In 2023, over two-thirds of tourism spending in the United States was made by leisure travelers. Meanwhile, the remaining share of expenditure that year corresponded to business spending, at 30.2 percent.

In 2019, most business trips taken by Italians related to individuals aged between 35 and 44 years. As of the survey period, Italian business travelers within this age group took a total of *** million trips. Moreover, Italian business travelers aged between 45 and 54 years took a total of *** million trips in 2019.

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.

Brazil has positioned itself as the leading source market for business tourism in Central and South America, accounting for more than ** percent of the region's total business travel spending in 2019. Due to the coronavirus (COVID-19) pandemic, this share dropped to a little over ** percent in 2020 and is expected to remain around that figure in 2024.

In 2019, the number of outbound travelers for business purposes departing from Japan amounted to 4.33 million. Traveling for business was the second most common travel purpose for outbound travel, following recreational or touristic trips.

Snapshot img

Cultural Tourism Market Size 2025-2029

The cultural tourism market size is forecast to increase by USD 8.41 billion, at a CAGR of 18.4% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing number of individuals seeking unique, immersive experiences to alleviate stress and enrich their personal growth. This trend is further fueled by the burgeoning adoption of advanced technologies such as augmented reality (AR) and virtual reality (VR) in cultural tourism, enabling travelers to explore historical sites and artifacts in a more engaging and interactive manner. However, this market faces challenges as well. Overtourism, or the excessive concentration of tourists in specific locations, poses a threat to the preservation of cultural heritage sites and the local communities that rely on tourism.
Addressing this issue through sustainable tourism practices and effective crowd management strategies is essential for companies seeking to capitalize on the opportunities presented by the market while mitigating potential risks. By focusing on innovative solutions that cater to the evolving needs and preferences of travelers, while respecting and preserving cultural heritage, businesses can differentiate themselves and thrive in this dynamic and growing market.

What will be the Size of the Cultural Tourism 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, driven by the increasing demand for authentic and immersive experiences. Crowd control and tourism infrastructure remain key concerns as cultural heritage sites attract large numbers of visitors. Digital guides and mobile applications enhance the visitor experience, offering GPS navigation, augmented reality, and interactive exhibits. Economic impact is a significant factor, with art galleries, language courses, and adventure tourism contributing to local economies. Visitor management systems and travel advisories ensure responsible tourism practices, while travel agencies and tourist information centers facilitate seamless travel experiences. Visa requirements and health precautions are essential considerations for tourists.

Sustainable tourism initiatives, such as waste management and cultural preservation, minimize environmental impact. Experiential tourism and educational tourism provide unique learning opportunities, while medical tourism caters to health-conscious travelers. Social media marketing and community-based tourism foster authentic connections with local communities. Cultural exchange programs promote cross-cultural understanding. Wellness tourism and religious tourism cater to specific niche markets, offering spiritual and rejuvenating experiences. Immersive technologies, such as virtual reality and tourist guides, bring history to life. Rural tourism and urban tourism offer diverse experiences, appealing to various travel preferences. Tourism policies and online booking platforms shape the industry, ensuring efficient and accessible travel experiences.

Ongoing trends include the integration of technology and the emphasis on sustainable and responsible tourism practices. The market continues to unfold, offering endless opportunities for exploration and discovery.

How is this Cultural Tourism Industry segmented?

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

Type

  Domestic cultural tourism
  International cultural tourism


Service

  Cultural eco-tourism
  Indigenous cultural tourism
  Socio-cultural tourism


Application

  Leisure
  Religious pilgrimage
  Education
  Research


Traveler Type

  Solo Travelers
  Group Travelers
  Families


Geography

  North America

    US


  Europe

    France
    Germany
    Italy
    Spain
    UK


  APAC

    China
    India
    Japan


  South America

    Brazil


  Rest of World (ROW)

By Type Insights

The domestic cultural tourism segment is estimated to witness significant growth during the forecast period.

In the dynamic the market, domestic tourism is experiencing a significant surge, fueled by the quest for genuine experiences, technological innovations, and government incentives promoting local heritage. Mobile applications serve as essential tools, granting travelers instant access to detailed guides, maps, and cultural information for their destinations. This convenience and ease of use enhance the planning and navigation process for cultural tours. Virtual Reality (VR) and Augmented Reality (AR) applications have gained popularity, offering immersive experiences that enable u

0.1 (%) in 2019. The share of Travel & Tourism spending or employment in the equivalent economy-wide concept in the published national income accounts or labour market statistics. Visitor exports are compared with exports of all goods and services Domestic Travel & Tourism spending is compared with GDP Government individual Travel & Tourism spending is compared with total government spending Internal Travel & Tourism consumption is compared with total internal consumption (i.e. total domestic spending plus total export) Leisure Travel & Tourism contribution to GDP is compared with total GDP Business Travel & Tourism contribution to GDP is compared with total GDP Travel & Tourism capital investment spending is compared with all fixed investment spending

China Tourism Expenditure: per Capita: Daily Avg: Business data was reported at 242.640 USD in 2019. This records an increase from the previous number of 223.040 USD for 2018. China Tourism Expenditure: per Capita: Daily Avg: Business data is updated yearly, averaging 211.385 USD from Dec 1999 (Median) to 2019, with 20 observations. The data reached an all-time high of 242.640 USD in 2019 and a record low of 157.030 USD in 2000. China Tourism Expenditure: per Capita: Daily Avg: Business data remains active status in CEIC and is reported by Ministry of Culture and Tourism. The data is categorized under China Premium Database’s Tourism Sector – Table CN.QAB: Visitor: Tourism Expenditure: By Visiting Purpose.

China AD Ind: Business Revenue: Tourism data was reported at 23,780.437 RMB mn in 2019. This records an increase from the previous number of 19,691.302 RMB mn for 2018. China AD Ind: Business Revenue: Tourism data is updated yearly, averaging 13,008.960 RMB mn from Dec 1999 (Median) to 2019, with 12 observations. The data reached an all-time high of 23,780.437 RMB mn in 2019 and a record low of 931.760 RMB mn in 1999. China AD Ind: Business Revenue: Tourism data remains active status in CEIC and is reported by State Administration for Market Regulation. The data is categorized under China Premium Database’s Advertising Sector – Table CN.RDA: Business Revenue: By Product Advertised.

China Tourism Expenditure: per Capita: Daily Avg: Hong Kong: Business data was reported at 164.480 USD in 2019. This records an increase from the previous number of 151.800 USD for 2018. China Tourism Expenditure: per Capita: Daily Avg: Hong Kong: Business data is updated yearly, averaging 162.540 USD from Dec 1999 (Median) to 2019, with 20 observations. The data reached an all-time high of 192.580 USD in 2015 and a record low of 122.770 USD in 2002. China Tourism Expenditure: per Capita: Daily Avg: Hong Kong: Business data remains active status in CEIC and is reported by Ministry of Culture and Tourism. The data is categorized under China Premium Database’s Tourism Sector – Table CN.QAB: Visitor: Tourism Expenditure: By Visiting Purpose.

The share of total global GDP generated by business tourism spending reached 0.7 percent in 2019, a value that has remained stable since 2015. The contribution of business tourism to the total global GDP has fluctuated slightly since 1995, always staying in the range of 0.6 and 0.8 percent.

Research conducted pre-COVID-19 on companies located in the Zurich airport region of Switzerland, regarding the need for global business travel and its impacts. The collection consists of survey data in pdf and CSV, Chapter 4 - Research and findings from the dissertation and Chapter 5 - Case study from the dissertation.