Business Travel Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2021-2031

The Global Business Travel Market is projected to expand from USD 1.57 Million in 2025 to USD 2.64 Million by 2031, registering a compound annual growth rate of 9.05%. This sector encompasses the movement of individuals for professional purposes, such as client meetings, corporate events, trade fairs, and exhibitions. The market is primarily driven by the globalization of commerce, which necessitates cross-border collaboration, and the essential value of face-to-face interactions for building business relationships and finalizing deals. Additionally, the continuous development of transportation infrastructure and the expansion of multinational corporations into emerging economies further support the demand for corporate mobility services.

However, the market encounters significant obstacles due to geopolitical volatility and uncertain trade policies, which can disrupt travel itineraries and inflate costs. These macroeconomic factors pose a substantial risk to sustained recovery by creating unpredictability in corporate travel budgets and impacting volume growth. According to the Global Business Travel Association, global business travel spending is expected to reach a record $1.57 trillion in 2025. Despite this nominal growth, the sector must navigate these complex economic pressures to maintain long-term stability.

Market Drivers

The mainstream adoption of bleisure and blended travel practices is fundamentally reshaping corporate mobility, as employees increasingly demand the flexibility to extend work trips for personal leisure. This hybrid model enhances traveler satisfaction while allowing companies to maximize ROI by spreading flight costs over longer stays. Consequently, organizations are updating travel policies to accommodate these extended itineraries, viewing them as essential tools for talent acquisition in a competitive labor market. According to Hilton’s '2025 Trends Report' from October 2024, 25% of global travelers plan to travel more for combined business and leisure trips in the coming year, highlighting the strategic integration of this segment into standard booking behaviors.

Simultaneously, the resurgence of the Meetings, Incentives, Conferences, and Exhibitions (MICE) sector is driving momentum, particularly through internal offsites designed to foster cohesion among distributed teams. As hybrid work persists, corporations are redirecting real estate savings into in-person gatherings to strengthen culture and facilitate complex problem-solving. This commitment to face-to-face interaction is evident in budgets; according to the American Express Global Business Travel '2025 Global Meetings and Events Forecast' (October 2024), 66% of meeting professionals expect their overall meeting spend to increase in 2025. Furthermore, Deloitte noted in 2024 that 58% of travel managers surveyed projected an increase in their company's travel spend for the subsequent year.

Market Challenges

Geopolitical volatility and trade policy uncertainties present a substantial barrier to the consistent growth of the Global Business Travel Market. These macroeconomic factors introduce unpredictability that complicates corporate budgeting and strategic planning. When international trade relations are strained or regional conflicts arise, organizations face immediate risks related to employee safety and operational continuity. Consequently, businesses often adopt conservative approaches, postponing or cancelling planned itineraries to mitigate financial exposure, which directly reduces the volume of cross-border interactions required for market expansion and client acquisition.

Furthermore, these instabilities frequently trigger inflationary pressures on travel components such as airfare and accommodation. According to the Global Business Travel Association, global business travel expenditures reached $1.48 trillion in 2024. While this figure indicates significant market activity, the reliability of future spending is compromised by the potential for sudden policy shifts or diplomatic disputes. Such disruptions force companies to allocate funds toward contingency management rather than travel volume, thereby stalling the momentum necessary for the sector to achieve its full economic potential.

Market Trends

The prioritization of sustainable and carbon-conscious travel programs is fundamentally altering procurement strategies as organizations face increasing pressure to report and reduce Scope 3 emissions. Corporate travel policies are shifting from purely cost-based decision-making to a value-based model that heavily weighs environmental impact, leading to a preference for rail over short-haul flights and vendors utilizing Sustainable Aviation Fuel (SAF). This structural change is driving companies to implement rigorous tracking mechanisms to ensure compliance with net-zero targets. According to the Global Business Travel Association's 'Sustainability Acceleration Global Benchmark' report from November 2024, 62% of companies are now tracking their business travel emissions, signaling a decisive move toward accountability in corporate mobility supply chains.

The deployment of agentic AI for autonomous booking and support is revolutionizing the traveler experience by moving beyond simple chatbots to sophisticated systems capable of executing complex itinerary changes without human intervention. These AI agents are being integrated directly into travel management platforms to provide 24/7 personalized assistance, proactively resolving disruptions such as flight cancellations by instantly rebooking alternatives based on traveler preferences and company policy. This technological leap addresses the demand for efficiency and friction-free travel management. According to SAP Concur's '2024 Global Business Travel Survey' (June 2024), 95% of business travelers are open to using AI-enabled options to arrange their travel, reflecting a massive shift in user readiness for automated solutions.

Key Players Profiled in the Business Travel Market

• American Express Company
• BCD Group
• Booking Holdings Inc.
• Corporate Travel Management Limited
• Expedia, Inc.
• Tumodo, Inc.
• CWT Global B.V.
• Wexas Limited
• Frosch International Travel LLC
• Travel Leaders Group Holdings, LLC

Report Scope

In this report, the Global Business Travel Market has been segmented into the following categories:

Business Travel Market, by Traveler:

• Solo
• Group

Business Travel Market, by Purpose:

• Marketing
• Meetings
• Trade Shows
• Product Launch
• Others

Business Travel Market, by Industry:

• Corporate
• Government

Business Travel Market, by Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Business Travel Market.

Available Customization

The analyst offers customization according to your specific needs. The following customization options are available for the report:

• Detailed analysis and profiling of additional market players (up to five).

This product will be delivered within 1-3 business days.