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.

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.

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.

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.

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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

Interest-Expense 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.

The Business Travel Management Solution market is an essential sector that provides organizations with the tools and technologies they need to streamline and optimize their corporate travel processes. As companies recognize the importance of efficient travel management, these solutions encompass various services, in

Quick-Ratio 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.

Financial overview and grant giving statistics of Austin Chapter Of The Global Business Travel Association

Other-Operating-Expenses 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.

According to an early 2024 survey conducted among travel managers worldwide, more than ** percent of respondents expected to see an increase in the business travel budget of their companies in 2025 when compared to 2024. By contrast, ** percent of survey participants said that the business travel budget could experience an annual decline in 2025.

• Over $10 billion in annual global business travel spend broken out by equity ticker for all airline, hotel, and car rental companies.
• Consolidated daily from over 1000 travel outlets in 104 counties and augmented with global credit card and expense management data; DEX Travel Insights provides a wholistic view encompassing all spend through all channels with 3 years of historic data.
• All data direct from point of sale is further broken down by 9 business industry verticals
• Industry specific business travel growth projections and insights
• Pricing analysis by travel category
• Forward looking booking information as well as amendments and cancellations

The total equity of Global Business Travel Group, Inc. with headquarters in the United States amounted to *** billion U.S. dollars in 2024. The reported fiscal year ends on December 31.Compared to the earliest depicted value from 2020 this is a total increase by approximately *** billion U.S. dollars. The trend from 2020 to 2024 shows, however, that this increase did not happen continuously.

The Business Travel market is a dynamic sector that plays a crucial role in the global economy, facilitating professional exchanges and fostering relationships through travel for work-related purposes. This market encompasses various travel services, including transportation, accommodation, and meal expenses, helpin

The corporate travel market is experiencing robust growth, driven by a resurgence in business travel post-pandemic and the increasing adoption of technology to streamline travel management. While precise figures for market size and CAGR are absent from the provided data, we can infer substantial growth based on the listed key players and the industry's known recovery trajectory. Considering the presence of major players like Expedia, Booking.com, and American Express GBT, alongside the continued expansion of smaller specialized companies, a conservative estimate would place the 2025 market size at approximately $300 billion USD. This figure reflects the significant investment and activity within the sector. Assuming a moderately conservative CAGR of 8% (reflecting a blend of economic growth and potential market saturation), the market is poised for substantial expansion through 2033. This growth will be propelled by factors such as increasing globalization, a rise in mergers and acquisitions driving international business travel, and the ongoing need for efficient and cost-effective travel solutions for businesses of all sizes. Further growth will be fueled by ongoing technological advancements, including the implementation of AI-powered travel booking platforms, improved data analytics for optimizing travel spending, and the development of more sustainable and responsible travel options. The segmentation within the market, encompassing various service offerings and geographical regions, suggests opportunities for both established and emerging companies. However, potential restraints include economic downturns that may affect business travel budgets, and geopolitical instability that can disrupt travel plans. The competitive landscape, featuring both large global players and specialized niche providers, ensures continuous innovation and service enhancements to meet evolving business needs.

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.

Stock-Based-Compensation 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.

Corporate Travel Security Market size was valued at USD 10.86 Billion in 2023 and is projected to reach USD 14.06 Billion by 2030, growing at a CAGR of 4.4% during the forecast period 2024-2030.

Global Corporate Travel Security Market Drivers

The market drivers for the Corporate Travel Security Market can be influenced by various factors. These may include:

Globalization of Business: A rise in corporate travel has resulted from enterprises expanding internationally. Businesses with a global presence must deal with the security issues raised by dispatching staff to a variety of occasionally dangerous locations.

Growing Apprehensions over Worker Safety: Organizations place a high premium on protecting the security and safety of their workers. The need for corporate travel security solutions is driven by growing knowledge of potential hazards, such as terrorism, political unrest, and natural disasters.

Geopolitical Uncertainties: The safety of business travelers may be impacted by geopolitical tensions, civil upheaval, and political instability. Companies use travel security services to keep aware of possible threats and to quickly support and help staff members who are working in uncharted territory or unstable areas.

Terrorism and Threats: Proactive steps must be taken to reduce hazards for business travelers due to the ongoing threat of terrorism on a worldwide scale. In these kinds of scenarios, security solutions with real-time threat information and emergency response capabilities become essential.

Technological Advancements: Corporate travel security solutions are made more capable by integrating cutting-edge technology like data analytics, artificial intelligence, and real-time communication tools. This makes it possible for companies to keep an eye on possible risks and react to them more skillfully.

Responsibility of Care Compliance: Businesses are realizing more and more that they have a responsibility of care to their workers. Corporate travel security services are adopted to reduce legal and reputational risks in accordance with duty of care requirements and legislation.

Increased Business Travel Frequency: As companies grow and become more international, business travel becomes more common.

The heightened level of travel activity highlights the necessity for all-encompassing travel security measures to safeguard personnel, property, and confidential data.

Health and Pandemic Concerns: The COVID-19 pandemic has brought attention to how crucial it is to be safe and healthy when traveling. The need for business travel security services that handle health-related hazards is influenced by factors other than pandemics, such as general health concerns and medical emergencies.

Data security and cyber risks: As more people rely on technology for communication and travel planning, there is a greater chance that cyber threats will materialize. Organizations need corporate travel security services that address cybersecurity threats, such as secure communication and data protection.

Customization and Scalability: The market is growing because of the capacity to scale services according to the volume and type of corporate travel as well as customize security solutions to the unique requirements of various businesses. One important factor is adaptability to various security standards.

Insurance and Liability Considerations: As part of their risk management plan, businesses frequently use travel security services. This involves taking insurance into account. Strong security protocols can reduce the risks connected to insurance and liabilities that come with business travel.

Other-Cashflows-From-Investing-Activities 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.