Global business tourism spending was estimated to reach approximately 1.5 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 38 percent as of October 2021. Meanwhile, almost eight in ten 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 583 million U.S. dollars on air travel in 2019, it reported an expenditure of 97 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 11 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 700 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 652.38 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.

More than half of travel managers surveyed worldwide in mid-2024 reported that managing their relationship with their travel management company. This was the most common task mentioned by the study participants. Developing and executing travel strategies, as well as communicating with travelers, were the following most popular tasks mentioned in that year.

According to an early 2024 survey conducted among travel managers worldwide, more than 50 percent of respondents expected to see an increase in the business travel budget of their companies in 2025 when compared to 2024. By contrast, 16 percent of survey participants said that the business travel budget could experience an annual decline in 2025.

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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 executives an

Six out of ten business travel managers surveyed around the world in October 2024 reported seeing an increase in the propensity of employees to attend meetings and conferences in person. However, one third of survey participants also said that they observed a decline in the interest of employees to travelling for business purposes.

Online polls conducted by the Global Business Travel Association (GBTA) has asked professionals of the business travel segment for their opinions on their employees' willingness to travel for business-related purposes since the COVID-19 pandemic. In January 2024, six out of ten respondents thought that workers in their companies were very eager to travel for a business purpose. Moreover, more than 90 percent of respondents in total said that they were willing to travel.

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.

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.

This report tracks the annual number of trips made into Canada by nonresidents. Data is sourced from Statistics Canada.

Travel habits of business travelers in the Federal Republic. Topics: destinations, travel frequency and length of business trips inthe previous year; travel costs; use of various means of transport;primary means of transport; opportunities of use, selection criteriaand limitation on use in the selection of primary means of transport;reasons for travel; information-provider and decision-maker in travelplanning; travel department in the company; agreements or contractswith hotels, airlines, rental car companies or the Federal Railway;booking; gathering information on cities, regions and countries to bevisited on business; combining business trips and private shortvacations; use of cultural offerings on business trips; agent for thesecultural offerings; traveling in company of spouse; use of spousefares; taking out travel insurance; private and business credit cardpossession; knowledge and possession of a telephone card; usefulness oftelephone cards on business trips; interest in use of telephone cards;use of trains and special offers, services and fares of the railroad;airplane use; frequency of travel and airlines used; use ofcompany-owned airplanes; airplane class and fares used, special offersand services of the airlines; most important selection criteria forairlines; airlines used for domestic and international trips; degree offamiliarity of international and national airlines; degree offamiliarity and use of American and German charter companies; airportsused in the last two years; use of various means of transport on theway to the airport; frequency of use of duty-free shops; productspurchased; car possession; access to company car or staff car; car usefor business trips at home and abroad; number of kilometers drivenannually; use of car for short or long distances; possession of cartelephone; interest in car telephone; possession of drivers license;use of rental car; preferred vehicle class; selection criteria forrental car company; degree of familiarity and frequency of use ofrental car company; preference for rental car company and possession ofcar credit card; selection criteria for choice of hotel at home andabroad; preferred hotel category; way of paying hotel bill; possessionof a VIP-card or hotel club card; degree of familiarity and use ofhotel chains; preferred hotel chains; trade fairs visited at home andabroad; length of employment; professional position; knowledge offoreign languages; company size and area of business; size ofmunicipality class; media usage of domestic and foreign newspapers.

Annual data on Canada's international travel services are available for business travel and personal travel Geographical details cover United States, and all other countries.

Around one-third of travel managers surveyed worldwide in late-2024 said that the implementation of artificial intelligence (AI) at their companies for business travel programs was important, but not a priority in that year. Only 14 percent said that they were already using AI for travel management tasks.

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%.

The Enterprise Travel Management (ETM) services market is experiencing robust growth, driven by the increasing need for efficient and cost-effective travel solutions within organizations. The market, estimated at $50 billion in 2025, is projected to exhibit a Compound Annual Growth Rate (CAGR) of 7% from 2025 to 2033, reaching approximately $85 billion by 2033. This expansion is fueled by several key factors. Firstly, the globalization of businesses necessitates frequent international travel for employees, leading to a higher demand for comprehensive travel management solutions. Secondly, the rise of technology, particularly sophisticated booking platforms and travel data analytics tools, is improving efficiency and transparency in travel expenditure. Furthermore, the growing focus on corporate sustainability is encouraging businesses to adopt ETM solutions that optimize carbon footprints and promote responsible travel practices. The increasing adoption of cloud-based solutions and mobile applications within ETM further enhances convenience and accessibility. The market is segmented by application (personal and group travel) and type (domestic and outbound tourism). Outbound tourism currently holds a larger market share due to globalization and expansion into new markets. However, domestic tourism is also witnessing steady growth, driven by factors such as increased domestic travel budgets and government initiatives to promote domestic tourism. Competition within the ETM sector is intense, with a large number of established players vying for market share. These companies are constantly innovating to provide improved services, enhance their technological offerings, and expand their global footprint to maintain a competitive edge. While the market demonstrates impressive growth potential, challenges remain, including economic fluctuations that impact business travel budgets, security concerns impacting travel patterns, and the ongoing need to adapt to evolving traveler preferences and technological advancements.

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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. Travel adaptors, tour guides,

The Global Travel and Tourism Market is anticipated to grow from USD 654.59 Billion in 2024 to USD 1113.00 Billion by 2034, at a CAGR of 4.74 % during the forecast period.

This data is for DH senior officials at Senior Civil Servants level 2 (SCS2), director level, or equivalent grades. It includes bookings made through the department’s central booking system. This will include the majority of travel undertaken. Some bookings may have been made through other systems. Work is ongoing to ensure that this data is incorporated into future reports.

According to an October 2024 global study, most business travel managers surveyed did not consider limiting work-related trips in the year ahead because of economic concerns. While 24 percent of the sample believed that restricting business travel was unlikely, 31 percent reported taking a wait-and-see approach but not seriously considering limiting corporate trips.

coastal tourism is not identified as a specific sector in the the french classification of economic activities (naf). it includes a number of tourism related services e.g. hotels and restaurants, transport, renting, travel agencies, sporting activities, or other local services, most of which being geographically limited to coastal or shoreline areas. annual tourism accounts break down tourism consumption into main services as identified in the insee business database. using the latter, value added and employment are estimated. the share of coastal tourism consumption as part of the overall tourism consumption is roughly estimated using both the breakdown of hotel nights by tourism areas and statistical estimates of local consumption. hotel nights and visitor arrivals are usually published in tourism accounts; international data on visitor stays are usually published by eurostat and the unwto; and the number of cruise passengers is sourced from cruise industry associations.