The business travel market is growing steadily as globalization, supportive government initiatives, rising corporate travel spending, and strong economic activity across the U.S., Europe, China, and India continue to fuel demand for seamless international and domestic business mobility.
Austin, Nov. 26, 2025 (GLOBE NEWSWIRE) — The global 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 2024-2032.
Globalization, steady economic growth, and a number of encouraging government initiatives have all contributed to the robust growth of the business travel market globally.
Through laws and incentives designed to lower travel expenses and improve accessibility, governments all over the world are actively assisting the industry. Infrastructure modernization initiatives, such as high-speed rail networks and airport expansions, have become more important throughout Europe due to the growing demand for seamless corporate travel.
Download PDF Sample of Business Travel Market @ https://www.snsinsider.com/sample-request/5473
Segmentation Analysis:
By Traveler, Solo Segment Led the Market with Largest Share, and is also Projected to Grow with the Fastest CAGR
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. 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.
By Purpose, Business Travel for Marketing Purposes Dominated the Market, and is also Expected to Grow with the Fastest CAGR Globally
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 segment is also being boosted by governments from developing regions. 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, Corporate Segment Led by Holding the Largest Share, and is also Expected to Lead the Market with the Fastest CAGR Globally
The corporate sector was the largest contributor to the business travel market in 2023, capturing 65% of the total revenue and is also expected to maintain its dominance globally. 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.
If You Need Any Customization on Business Travel Market Report, Inquire Now @ https://www.snsinsider.com/enquiry/5473
Regional Insights:
The Asia Pacific market dominated the market with a 34% share in 2023 due the growing economy, urbanization, and the development of small and medium-sized enterprises (SMEs) in regions, such as India and China have promoted business travel.
On the other hand, the global business travel market in North America 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.
Key Players:
- 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
Business Travel Market Report Scope:
| 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) |
| Customization Scope | Available upon request |
| Pricing | Available upon request |
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
- In 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.
Buy Full Research Report on Business Travel Market 2024-2032 @ https://www.snsinsider.com/checkout/5473
Exclusive Sections of the Report (The USPs):
- Regional Corporate Travel Spending Metrics – helps you understand how business travel budgets have recovered across regions between 2020–2023, enabling identification of high-growth markets and regions with slower rebound trends.
- Travel Management Software Adoption Rate – helps you assess which industries are leading in digital travel management adoption, revealing opportunities for vendors and highlighting sectors with low penetration.
- Virtual Meeting Substitution Index – helps you evaluate the degree to which virtual meeting tools (2020–2023) have replaced short-haul or routine business trips, supporting strategic planning for travel policy and budget allocation.
- Demographic Travel Preference Insights – helps you analyze preferred travel modes (air, rail, road) across age groups, job roles, and traveler categories, supporting personalized travel program design.
- Business Travel Recovery & Demand Forecast Score – helps you track the pace of recovery in corporate travel volume and spending post-pandemic, enabling companies to anticipate demand surges and adjust supplier negotiations.
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company’s aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
CONTACT: Rohan Jadhav - Principal Consultant Phone: +1-315 636 4242 (US) | +44- 20 3290 5010 (UK)