Business Travel Market Size was valued at USD 1376.0 Billion in 2023 and is expected to reach USD 2885.3 billion by 2032, growing at a CAGR of 8.6% over the forecast period 2024-2032.
The global business travel market has been witnessing strong growth due to stable economic growth, globalization, and several supportive government initiatives. As an example, the U. S. Department of Commerce has noted that domestic business travel spending reached $300 billion in 2023, reflecting a 12% increase from the previous year. This surge is attributed to a rebound in international trade and corporate operations following the challenges of the pandemic. Similarly, the World Travel and Tourism Council (WTTC) has noted that business travel contributed approximately 21% to the global travel sector’s economic output in 2023, underscoring its critical role in fostering international collaboration and economic integration.
Governments worldwide are actively supporting the sector through policies and incentives aimed at reducing travel costs and enhancing accessibility. With the demand for seamless corporate travel on the rise, infrastructure modernization projects which include high-speed rail networks and airport upgrades, have gained priority across Europe. In emerging economies such as India, business travel expenditures have risen by 15%, due in part to government initiatives like "Make in India" that promote manufacturing and export activity. China has also experienced a surge in corporate travel, leaving thousands of companies with no choice but to provide transportation for its Belt and Road Initiative, facilitating multilateral cooperation in Asia, Africa, and Europe. With these trends and heightened reliance on the in-person meetings needed for negotiations, mergers, and partnerships, business travel is shown to be the backbone of economic growth and international connectivity.
Market Dynamics
Drivers
Businesses are increasingly implementing travel risk management solutions to ensure employee safety, driven by rising concerns about potential risks during travel. These tools are designed to alleviate travel-related stress and improve safety measures.
Corporations are optimizing travel policies to minimize their carbon footprint by tracking sustainability metrics such as hotel certifications, the use of sustainable aviation fuels, and electric vehicle availability.
Advanced safety technologies for business travel are a really important trend that is reshaping the industry. In 2024, companies are increasingly investing in travel risk management systems to prioritize employee safety amid a volatile global landscape. A recent survey revealed that 40% of employees expressed concerns about safety during work-related trips, while 41% indicated they had never received comprehensive risk information about their travel destinations. In response, organizations are using technologies like real-time location awareness, automated notifications of geopolitical threats, and integrated health alerts in travel management solutions. For example, organizations now utilize platforms that offer real-time information regarding travel restrictions, weather disruptions, and localized threats. Such tech empowers pre-emptive decisions and on-the-spot crisis support.
A notable example is the deployment of "travel safety dashboards," which allow managers to monitor employees' whereabouts and ensure swift responses to emergencies. Industries with high travel needs, such as consulting and multinational operations, have significantly benefited from these advancements. This is particularly useful for industries with extensive travel demands, like consulting and multinational business, which have greatly benefited from these developments. This focus on safety dovetails not only with engaged employee wellness initiatives but also with duty-of-care obligations which require organizations to comply with and exceed legal and ethical obligations. With so many businesses adopting these tools, this will further lead to a paradigm shift in corporate travel strategies to ensure safety and this demand will only increase.
Restraints:
Increased airfare and hotel prices, compounded by inflation, have placed pressure on corporate budgets, requiring companies to manage travel expenses more diligently despite rising travel demand.
Stricter regional regulations on travel and sustainability are imposing additional compliance burdens on businesses, complicating travel planning processes and increasing operational costs
One significant restraint in the business travel market is the rise in operational costs due to inflation and increasing service prices. Airlines and hotels have renegotiated contracts post-pandemic, often with less favorable terms for corporate buyers. Although some companies have mandates requiring a return to travel, many struggle with the need to balance the demand for travel against the challenges of responsibly managing elevated costs. For instance, Companies are investing extra hours and effort into their budgets to integrate higher ticket and hotel prices and stay efficient. As a result, organizations have been forced to change their travel policies, which frequently involve tighter budget constraints or less travel. Further, these cost pressures may dissuade smaller players from travel levels pre-pandemic resulting in lost business opportunities and partnerships. As business travel continues its slow recovery, the economic pressure is still a constant obstacle for companies around the world.
By Traveler
The solo segment accounted for the largest revenue share of 52% in 2023 due to several factors, including the restructuring of businesses in the current climate as well as the increasing importance of cost-effective travel. It is certainly no secret that many of the high-growth industries like technology, finance, and consulting, expect their professionals to travel independently to meetings, conferences, and site visits. According to the U.S. Bureau of Labor Statistics, more than 62% of the personnel in these professions traveled alone on business trips in 2023, which reflects the importance and efficacy of business trips that occur in the form of solo traveling in the corporate world today.
The logistical simplicity of solo travel is a significant advantage, allowing companies to minimize coordination efforts and travel costs. These are sustainability measures that many firms have been implementing and solo travel usually caters to their purpose better than group travel as it uses fewer resources. In addition, regional governments like Asian Pacific authorities have enforced policies for small and medium enterprises (SMEs) to enhance travel business development during solo travels. Japan’s Ministry of Land, Infrastructure, Transport, and Tourism has established grants to help small and medium enterprises (SMEs) send representatives abroad on various business missions. At the same time, the proliferation of remote and hybrid work also helps fuel the trend, as individual workers regularly travel to headquarters central offices or customer locations to strengthen personal bonds, reinforcing that solo travelers will always be the largest revenue-generating segment of the business travel market.
By Purpose
In 2023, business travel for marketing purposes accounted for nearly 36% of the market revenue share, owing to the need to uphold competitive benefits across industries. This includes everything from trade shows to product launches and networking events to client meetings. In 2023, almost 45% of small and medium enterprises (SMEs) in the European Union observed an increase in travel budgets allocated to marketing to enhance exports and expand international market presence in the EU as per the European Commission. This increase correlates with increased competition and the need for a more personal touch in every interaction to win the trust and fidelity of clients.
This segment is also being boosted by governments from developing regions. In ASEAN, for example, several incentives have been introduced, such as lower tariffs and subsidies to companies at international trade fairs and exhibitions. These initiatives are designed to facilitate trade at the regional and global level business travel is a major facilitator of these goals. In areas like consumer goods, pharmaceuticals, and technology, marketing activities are critical as displaying products and services often provides greater benefits than digital marketing efforts. As businesses increasingly prioritize personal engagement to drive revenue, the marketing-focused business travel segment is set to remain a significant contributor to the overall market.
By Industry
The corporate sector was the largest contributor to the business travel market in 2023, capturing 65% of the total revenue. This dominance is primarily due to the global growth of MNCs, which depend on international business travel to continue operating, establish new partnerships, and execute mergers and acquisitions. The sector relied on face-to-face meetings to ensure collaborative decision-making across borders, with corporate employees making up 72% of all business travel in 2023, according to the International Labour Organization (ILO).
Industries such as IT, finance, and consulting are particularly dependent on frequent interregional and international travel, given their need to maintain close communication with clients and stakeholders. Similarly, governments of developed nations also encourage corporate travel with tax deductions and subsidies for expenses related to cross-border business transactions. As an example, the UK grants tax relief for companies engaged in export-oriented business, clearly appreciating that a continued presence of corporate travel creates benefits for the economy. Furthermore, infrastructure developments, such as the expansion of business-class flights and high-speed rail networks, are facilitating the corporate sector's reliance on travel. As companies continue to prioritize global expansion and operational efficiency, the corporate segment is expected to maintain its leading position in the business travel market.
Regional Insights
The Asia-Pacific market will be dominated with a 34% market share in 2023. However, in countries such as China and India the growing economy, urbanization, and the development of small and medium-sized enterprises (SMEs) have promoted business travel. Data from China’s Ministry of Culture and Tourism indicates that corporate travel in the country increased by 22% in 2023, reflecting its role as a global manufacturing and business hub. The business travel segment in India also saw a good amount of growth as several government policies were supporting this area of work such as rendering assistance through export promotion schemes and infrastructure improvements. With the emergence of many economies and supportive policies, Asia-Pacific is a cornerstone of growth in the business travel market.
On the other hand, the global business travel market is growing with the fastest CAGR during the forecast period 2024-2032. Is primarily due to a well-established corporate ecosystem, a high frequency of business travel, and large investments in infrastructure made in the region. Business travel expenditures increased 14% in the U.S. in 2023 amid a strong economy and growing in-person events and meetings this year, according to the U.S. Travel Association. In much the same way, corporate travel in Canada also grew as a result of their trade agreements, with the business side of the country being active in global markets.
Recent Developments
In March 2024, Spotnana Technology, Inc. released a next-gen corporate travel tool with customizable travel windows, travel policies, forms of payment, and more to further enhance services to customers
Jan 2024, MakeMyTrip with this Philosophy partnered with the solution provider Zoho to manage the Air travel and Expense management seamlessly catering to the business with the right set of offerings.
Key Service Providers
Amadeus IT Group (Amadeus Cytric Travel, Amadeus Altéa)
SAP Concur (Concur Expense, Concur Travel)
Egencia (Egencia Travel Suite, Egencia Analytics Studio)
TravelPerk (FlexiPerk, GreenPerk)
Spotnana Technology, Inc. (Corporate Travel Tool, Booking Management System)
Carlson Wagonlit Travel (CWT) (CWT MyCWT, CWT AnalytIQs)
Booking.com for Business (Booking.com Platform, Business Travel Solutions)
Expedia Group (Expedia Partner Solutions, Egencia Integrations)
American Express Global Business Travel (Amex GBT) (Neo Travel Platform, GBT Insights)
Sabre Corporation (GetThere, Sabre Red 360)
MakeMyTrip
Users (Organizations Using Business Travel Solutions):
Deloitte
PwC (PricewaterhouseCoopers)
KPMG
Ernst & Young (EY)
Accenture
Unilever
Microsoft
Amazon
General Electric (GE)
Siemens
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | USD 1376.0 Billion |
| Market Size by 2032 | USD 2885.3 Billion |
| CAGR | CAGR of 8.6% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Traveler (Solo, Group) • By Purpose (Marketing, Meetings, Trade Shows/Exhibitions, Product Launch, Others) • By Industry (Corporate, Government) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Amadeus IT Group, SAP Concur, Egencia, TravelPerk, Spotnana Technology, Inc., Carlson Wagonlit Travel (CWT), Booking.com for Business, Expedia Group, American Express Global Business Travel (Amex GBT), Sabre Corporation |
| Key Drivers | • Businesses are increasingly implementing travel risk management solutions to ensure employee safety, driven by rising concerns about potential risks during travel. These tools are designed to alleviate travel-related stress and improve safety measures. • Corporations are optimizing travel policies to minimize their carbon footprint by tracking sustainability metrics such as hotel certifications, the use of sustainable aviation fuels, and electric vehicle availability. |
| RESTRAINTS | • Increased airfare and hotel prices, compounded by inflation, have placed pressure on corporate budgets, requiring companies to manage travel expenses more diligently despite rising travel demand. |
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Corporate Travel Spending, by Region (2020–2023)
5.2 Adoption of Travel Management Software, by Industry (2023)
5.3 Shift Toward Virtual Meetings: Impact on Business Travel (2020–2023)
5.4 Preferred Modes of Travel, by Demographic (2023)
6. Competitive Landscape
6.1 List of Major Companies, By Region
6.2 Market Share Analysis, By Region
6.3 Product Benchmarking
6.3.1 Product specifications and features
6.3.2 Pricing
6.4 Strategic Initiatives
6.4.1 Marketing and promotional activities
6.4.2 Distribution and supply chain strategies
6.4.3 Expansion plans and new product launches
6.4.4 Strategic partnerships and collaborations
6.5 Technological Advancements
6.6 Market Positioning and Branding
7. Business Travel Market Segmentation, By Traveler
7.1 Chapter Overview
7.2 Solo
7.2.1 Solo Market Trends Analysis (2020-2032)
7.2.2 Solo Market Size Estimates and Forecasts to 2032 (USD Billion)
7.3 Group
7.3.1 Group Market Trends Analysis (2020-2032)
7.3.2 Group Market Size Estimates and Forecasts to 2032 (USD Billion)
8. Business Travel Market Segmentation, By Purpose
8.1 Chapter Overview
8.2 Marketing
8.2.1 Marketing Market Trends Analysis (2020-2032)
8.2.2 Marketing Market Size Estimates and Forecasts to 2032 (USD Billion)
8.3 Meetings
8.3.1 Meetings Market Trends Analysis (2020-2032)
8.3.2 Meetings Market Size Estimates and Forecasts to 2032 (USD Billion)
8.4 Trade Shows/Exhibitions
8.4.1 Trade Shows/Exhibitions Market Trends Analysis (2020-2032)
8.4.2 Trade Shows/Exhibitions Market Size Estimates and Forecasts to 2032 (USD Billion)
8.5 Product Launch
8.5.1 Product Launch Market Trends Analysis (2020-2032)
8.5.2 Product Launch Market Size Estimates and Forecasts to 2032 (USD Billion)
8.6 Others
8.6.1 Others Market Trends Analysis (2020-2032)
8.6.2 Others Market Size Estimates and Forecasts to 2032 (USD Billion)
9. Business Travel Market Segmentation, By Industry
9.1 Chapter Overview
9.2 Corporate
9.2.1 Corporate Market Trends Analysis (2020-2032)
9.2.2 Corporate Market Size Estimates and Forecasts to 2032 (USD Billion)
9.3 Government
9.3.1 Government Market Trends Analysis (2020-2032)
9.3.2 Government Market Size Estimates and Forecasts to 2032 (USD Billion)
10. Regional Analysis
10.1 Chapter Overview
10.2 North America
10.2.1 Trends Analysis
10.2.2 North America Business Travel Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.2.3 North America Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.2.4 North America Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.2.5 North America Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.2.6 USA
10.2.6.1 USA Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.2.6.2 USA Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.2.6.3 USA Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.2.7 Canada
10.2.7.1 Canada Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.2.7.2 Canada Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.2.7.3 Canada Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.2.8 Mexico
10.2.8.1 Mexico Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.2.8.2 Mexico Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.2.8.3 Mexico Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3 Europe
10.3.1 Eastern Europe
10.3.1.1 Trends Analysis
10.3.1.2 Eastern Europe Business Travel Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.3.1.3 Eastern Europe Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.3.1.4 Eastern Europe Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.3.1.5 Eastern Europe Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3.1.6 Poland
10.3.1.6.1 Poland Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.3.1.6.2 Poland Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.3.1.6.3 Poland Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3.1.7 Romania
10.3.1.7.1 Romania Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.3.1.7.2 Romania Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.3.1.7.3 Romania Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3.1.8 Hungary
10.3.1.8.1 Hungary Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.3.1.8.2 Hungary Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.3.1.8.3 Hungary Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3.1.9 Turkey
10.3.1.9.1 Turkey Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.3.1.9.2 Turkey Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.3.1.9.3 Turkey Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3.1.10 Rest of Eastern Europe
10.3.1.10.1 Rest of Eastern Europe Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.3.1.10.2 Rest of Eastern Europe Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.3.1.10.3 Rest of Eastern Europe Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3.2 Western Europe
10.3.2.1 Trends Analysis
10.3.2.2 Western Europe Business Travel Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.3.2.3 Western Europe Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.3.2.4 Western Europe Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.3.2.5 Western Europe Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3.2.6 Germany
10.3.2.6.1 Germany Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.3.2.6.2 Germany Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.3.2.6.3 Germany Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3.2.7 France
10.3.2.7.1 France Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.3.2.7.2 France Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.3.2.7.3 France Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3.2.8 UK
10.3.2.8.1 UK Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.3.2.8.2 UK Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.3.2.8.3 UK Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3.2.9 Italy
10.3.2.9.1 Italy Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.3.2.9.2 Italy Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.3.2.9.3 Italy Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3.2.10 Spain
10.3.2.10.1 Spain Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.3.2.10.2 Spain Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.3.2.10.3 Spain Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3.2.11 Netherlands
10.3.2.11.1 Netherlands Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.3.2.11.2 Netherlands Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.3.2.11.3 Netherlands Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3.2.12 Switzerland
10.3.2.12.1 Switzerland Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.3.2.12.2 Switzerland Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.3.2.12.3 Switzerland Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3.2.13 Austria
10.3.2.13.1 Austria Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.3.2.13.2 Austria Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.3.2.13.3 Austria Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3.2.14 Rest of Western Europe
10.3.2.14.1 Rest of Western Europe Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.3.2.14.2 Rest of Western Europe Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.3.2.14.3 Rest of Western Europe Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.4 Asia Pacific
10.4.1 Trends Analysis
10.4.2 Asia Pacific Business Travel Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.4.3 Asia Pacific Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.4.4 Asia Pacific Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.4.5 Asia Pacific Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.4.6 China
10.4.6.1 China Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.4.6.2 China Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.4.6.3 China Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.4.7 India
10.4.7.1 India Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.4.7.2 India Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.4.7.3 India Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.4.8 Japan
10.4.8.1 Japan Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.4.8.2 Japan Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.4.8.3 Japan Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.4.9 South Korea
10.4.9.1 South Korea Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.4.9.2 South Korea Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.4.9.3 South Korea Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.4.10 Vietnam
10.4.10.1 Vietnam Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.4.10.2 Vietnam Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.4.10.3 Vietnam Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.4.11 Singapore
10.4.11.1 Singapore Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.4.11.2 Singapore Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.4.11.3 Singapore Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.4.12 Australia
10.4.12.1 Australia Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.4.12.2 Australia Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.4.12.3 Australia Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.4.13 Rest of Asia Pacific
10.4.13.1 Rest of Asia Pacific Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.4.13.2 Rest of Asia Pacific Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.4.13.3 Rest of Asia Pacific Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.5 Middle East and Africa
10.5.1 Middle East
10.5.1.1 Trends Analysis
10.5.1.2 Middle East Business Travel Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.5.1.3 Middle East Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.5.1.4 Middle East Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.5.1.5 Middle East Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.5.1.6 UAE
10.5.1.6.1 UAE Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.5.1.6.2 UAE Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.5.1.6.3 UAE Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.5.1.7 Egypt
10.5.1.7.1 Egypt Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.5.1.7.2 Egypt Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.5.1.7.3 Egypt Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.5.1.8 Saudi Arabia
10.5.1.8.1 Saudi Arabia Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.5.1.8.2 Saudi Arabia Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.5.1.8.3 Saudi Arabia Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.5.1.9 Qatar
10.5.1.9.1 Qatar Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.5.1.9.2 Qatar Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.5.1.9.3 Qatar Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.5.1.10 Rest of Middle East
10.5.1.10.1 Rest of Middle East Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.5.1.10.2 Rest of Middle East Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.5.1.10.3 Rest of Middle East Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.5.2 Africa
10.5.2.1 Trends Analysis
10.5.2.2 Africa Business Travel Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.5.2.3 Africa Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.5.2.4 Africa Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.5.2.5 Africa Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.5.2.6 South Africa
10.5.2.6.1 South Africa Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.5.2.6.2 South Africa Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.5.2.6.3 South Africa Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.5.2.7 Nigeria
10.5.2.7.1 Nigeria Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.5.2.7.2 Nigeria Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.5.2.7.3 Nigeria Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.5.2.8 Rest of Africa
10.5.2.8.1 Rest of Africa Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.5.2.8.2 Rest of Africa Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.5.2.8.3 Rest of Africa Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.6 Latin America
10.6.1 Trends Analysis
10.6.2 Latin America Business Travel Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.6.3 Latin America Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.6.4 Latin America Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.6.5 Latin America Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.6.6 Brazil
10.6.6.1 Brazil Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.6.6.2 Brazil Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.6.6.3 Brazil Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.6.7 Argentina
10.6.7.1 Argentina Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.6.7.2 Argentina Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.6.7.3 Argentina Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.6.8 Colombia
10.6.8.1 Colombia Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.6.8.2 Colombia Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.6.8.3 Colombia Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.6.9 Rest of Latin America
10.6.9.1 Rest of Latin America Business Travel Market Estimates and Forecasts, By Traveler (2020-2032) (USD Billion)
10.6.9.2 Rest of Latin America Business Travel Market Estimates and Forecasts, By Purpose (2020-2032) (USD Billion)
10.6.9.3 Rest of Latin America Business Travel Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
11. Company Profiles
11.1 Amadeus IT Group
11.1.1 Company Overview
11.1.2 Financial
11.1.3 Products/ Services Offered
11.1.4 SWOT Analysis
11.2 SAP Concur
11.2.1 Company Overview
11.2.2 Financial
11.2.3 Products/ Services Offered
11.2.4 SWOT Analysis
11.3 Egencia
11.3.1 Company Overview
11.3.2 Financial
11.3.3 Products/ Services Offered
11.3.4 SWOT Analysis
11.4 TravelPerk
11.4.1 Company Overview
11.4.2 Financial
11.4.3 Products/ Services Offered
11.4.4 SWOT Analysis
11.5 Spotnana Technology, Inc.
11.5.1 Company Overview
11.5.2 Financial
11.5.3 Products/ Services Offered
11.5.4 SWOT Analysis
11.6 Carlson Wagonlit Travel (CWT)
11.6.1 Company Overview
11.6.2 Financial
11.6.3 Products/ Services Offered
11.6.4 SWOT Analysis
11.7 Booking.com for Business
11.7.1 Company Overview
11.7.2 Financial
11.7.3 Products/ Services Offered
11.7.4 SWOT Analysis
11.8 Expedia Group
11.8.1 Company Overview
11.8.2 Financial
11.8.3 Products/ Services Offered
11.8.4 SWOT Analysis
11.9 American Express Global Business Travel (Amex GBT)
11.9.1 Company Overview
11.9.2 Financial
11.9.3 Products/ Services Offered
11.9.4 SWOT Analysis
11.10 Sabre Corporation.
11.10.1 Company Overview
11.10.2 Financial
11.10.3 Products/ Services Offered
11.10.4 SWOT Analysis
12. Use Cases and Best Practices
13. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
Key Segments:
By Traveler
Solo
Group
By Purpose
Marketing
Meetings
Trade Shows/Exhibitions
Product Launch
Others
By Industry
Corporate
Government
Request for Segment Customization as per your Business Requirement: Segment Customization Request
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Request for Country Level Research Report: Country Level Customization Request
Available Customization
With the given market data, SNS Insider offers customization as per the company’s specific needs. The following customization options are available for the report:
Product Analysis
Criss-Cross segment analysis (e.g. Product X Application)
Product Matrix which gives a detailed comparison of product portfolio of each company
Geographic Analysis
Additional countries in any of the regions
Company Information
Detailed analysis and profiling of additional market players (Up to five)
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