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4% CAGR to Be Achieved by Business Travel Market by Service (Transportation, Food & Lodging, Business Activity), Industry (Government, Corporate), Traveler (Group and Solo) Growth and Forecast 2023.

IT Intelligence Markets added Most up-to-date research on “Global Business Travel Market – Detailed Analysis Of The Present Market Along With Future Outlook, 2023” to its huge collection of research reports
Published 17 July 2018

Business Travel Market size is expected to reach $1,650 billion by 2023, registering a CAGR of +4% during the forecast period

Global Business Travel Market 2018 Industry, Analysis, Research, Sales, Trends, Supply, Share, Growth, Forecast to 2023.” Business travel refers to domestic or international trips made by an employee for several business-related purposes, including the organization of trade shows, marketing of the company, product launches, and internal meetings. Tourism is one of the major sources of revenue for a number of countries and has a positive impact on the economy of both the source and host countries.

The report represents the current scenario of the market and based on in-depth analysis of all the major factors that are expected to influence the demand in the near future, Tourists usually have high budgets and a preference for good food and luxury accommodations. However, these preferences may differ from one tourist to another. For instance, some tourists prefer simple beach vacations, while others want family-oriented holidays at quieter resorts, uncommercialized places, or niche market-targeted destination hotels.

Global business travel market to grow at a CAGR of +5% during the period 2017-2021

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Some of the leading vendors: American Express Travel, Expedia Inc., BCD Travel, Carlson Wagonlit Travel, Flight Centre Travel Group, Hogg Robinson Group, The Priceline Group, Fareportal, Inc. (travelong inc.), and Wexas Travel.

The business travel market is highly fragmented owing to the presence of several travel companies and agencies. Business travel service providers compete on the basis of types of pricing, government licensing, service portfolio, and safety measures. Their business operations in the corporate travel market are impacted by factors such as demographic trends, Intense competition, consumer spending patterns, and frequent changes in consumer preferences.

Business travel is an integral part of the corporate sector. The activities in the corporate sector are driven by profit maximization motives. Client meetings, brand & product promotions, business expansion, employee training, and incentives are some of activities involved in business travel. Thus, frequent corporate domestic and international trips have supplemented the corporate travel market growth.

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Table of Content:

Chapter 1 Industry Overview of Business Travel

Chapter 2 Manufacturing Cost Structure Analysis of Business Travel

Chapter 3 Technical Data and Manufacturing Plants Analysis of Business Travel

Chapter 4 Global Business Travel Overall Market Overview

Chapter 5 Business Travel Regional Market Analysis

Chapter 6 Major Manufacturers Analysis of Business Travel

Chapter 7 Development Trend of Analysis of Business Travel Market

Chapter 8 Business Travel Marketing Type Analysis

Chapter 9 Conclusion of the Global Business Travel Market Professional Survey Report 2018

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