Business Tourism Market, By Service, By Industry, By Traveler Type, By Geography

Description

Global business tourism market is estimated to be valued at USD 900.58 Bn in 2024 and is expected to reach USD 1,678.27 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 9.3% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 900.58 Bn
Historical Data for:	2019 to 2023	Forecast Period:	2024 to 2031
Forecast Period 2024 to 2031 CAGR:	9.30%	2031 Value Projection:	US$ 1,678.27 Bn

Figure 1. Business Tourism Market Share (%), By Region, 2024

Global business tourism market has witnessed significant growth over the past few years. Business tourism refers to travels undertaken for purposes of business interactions, conferences, exhibitions, trade shows and other business events. It contributes substantially to the GDP of many economies globally. Various factors such as rising globalization of businesses, increasing number of large scale business events, and digital transformation across industries have boosted growth of the business tourism market. Many destinations have also recognized business tourism as an opportunity to drive revenues and have taken initiatives to attract more MICE (Meetings, Incentives, Conferences and Exhibitions) travelers. However, the COVID-19 pandemic severely impacted the market in the last couple of years.

Market Dynamics:

The key drivers fueling the business tourism market include rapid globalization of industries necessitating more business interactions, partnerships and trades across borders. Growing focus on networking, business development and marketing initiatives through large conferences, exhibitions and trade shows also supports the market growth. However, factors such as economic slowdowns negatively impacting corporate budgets for travel and events coupled with risk of global health pandemics pose challenges. The market witness opportunities in resumption of business activities post gradual normalization from COVID-19, destinations promoting their MICE potential through various initiatives and growing preference for digital or hybrid business events.

Key Features of the Study:

This report provides in-depth analysis of the global business tourism market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year.
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
It profiles key players in the global business tourism market based on the following parameters company highlights, products portfolio, key highlights, financial performance, and strategies.
Key companies covered as a part of this study include Adelman Travel Group, Wexas Travel, American Express Global Business Travel, BCD Travel, Carlson Wagonlit Travel (CWT), Expedia Group, Flight Centre Travel Group, Hogg Robinson Group (HRG), HRG North America, Corporate Travel Management (CTM), Egencia, FCM Travel Solutions, HRG Nordic, Omega World Travel, Sabre Corporation, Thomas Cook Group, Travel Leaders Group, Travel and Transport, TUI Group, World Travel, Inc.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
Global business tourism market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global business tourism market.

Detailed Segmentation-

Service:
- Transport
- Food & Lodging
- Recreation activity
- Others
Industry:
- Corporate
- Government
Traveler Type:
- Solo
- Groups
Regional:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Company Profiles:
- Adelman Travel Group
- Wexas Travel
- American Express Global Business Travel
- BCD Travel
- Carlson Wagonlit Travel (CWT)
- Expedia Group
- Flight Centre Travel Group
- Hogg Robinson Group (HRG)
- HRG North America
- Corporate Travel Management (CTM)
- Egencia
- FCM Travel Solutions
- HRG Nordic
- Omega World Travel
- Sabre Corporation
- Thomas Cook Group
- Travel Leaders Group
- Travel and Transport
- TUI Group
- World Travel, Inc.

Product Code: CMI6860

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Service
- Market Snippet, By Industry
- Market Snippet, By Traveler Type
- Market Snippet, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- PEST Analysis
- PORTER's Five Forces Analysis
- Market Opportunities
- Regulatory Scenario
- Key Developments
- Industry Trend

4. Global Business Tourism Market- Impact of Coronavirus (COVID-19) Pandemic

Overview
Factors Affecting Global Business Tourism Market
Impact Analysis

5. Global Business Tourism Market, By Service, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Transport
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019- 2031
- Segment Trends
Food & Lodging
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Recreation activity
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Others
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends

6. Global Business Tourism Market, By Industry, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Corporate
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Government
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends

7. Global Business Tourism Market, By Traveler Type, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Solo
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Groups
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends

8. Global Business Tourism Market, By Region, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, By Region, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2019 - 2031
North America
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2019 - 2031
- Market Size and Forecast, By Service, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Industry, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Traveler Type, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019- 2031, (US$ Bn)
U.S.
Canada
Latin America
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2019 - 2031
- Market Size and Forecast, By Service, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Industry, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Traveler Type, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019- 2031, (US$ Bn)
Brazil
Argentina
Mexico
Rest of Latin America
Europe
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2019 - 2031
- Market Size and Forecast, By Service, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Industry, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Traveler Type, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019- 2031, (US$ Bn)
U.K.
Germany
Italy
France
Spain
Russia
Rest of Europe
Asia Pacific
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2019 - 2031
- Market Size and Forecast, By Service, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Industry, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Traveler Type, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019- 2031, (US$ Bn)
China
India
Japan
ASEAN
Australia
South Korea
Rest of Asia Pacific
Middle East & Africa
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2019 - 2031
- Market Size and Forecast, By Service, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Industry, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Traveler Type, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019- 2031, (US$ Bn)
GCC Countries
Israel
Rest of Middle East & Africa

9. Competitive Landscape

Heat Map Analysis
Market Share Analysis (3x3 Matrix)
Company Profiles
- Expedia Group
Company Overview
Service Portfolio
Recent Developments/Updates
- Adelman Travel Group
- Wexas Travel
- American Express Global Business Travel
- BCD Travel
- Carlson Wagonlit Travel (CWT)
- Expedia Group
- Flight Centre Travel Group
- Hogg Robinson Group (HRG)
- HRG North America
- Corporate Travel Management (CTM)
- Egencia
- FCM Travel Solutions
- HRG Nordic
- Omega World Travel
- Sabre Corporation
- Thomas Cook Group
- Travel Leaders Group
- Travel and Transport
- TUI Group
- World Travel, Inc.

10. Analyst Recommendation

Wheel of Fortune
Analyst View
Coherent Opportunity Map

11. Section

References
Research Methodology
About Us and Sales Contact
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