How Big Is the Business Travel Industry Market | Trends 2031

Q: How big is the business travel market in 2024?

The business travel market was exhibited at USD 739.6 billion in 2024.

Q: What is the projected size of the business travel market by 2031?

The market is expected to reach is predicted to reach USD 1,200 billion by 2031, growing at a CAGR of 6.7%.

Q: What is driving the growth of the business travel industry?

Globalization, return of in-person meetings, managed travel platforms, and expanding cross-border operations.

Q: What types of travel are included in this market?

Corporate meetings, incentive travel, exhibitions, conferences, and internal company travel arrangements.

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Code: MTA5449

Publication Date: Jul 2025

What is the size of the Business Travel Industry Market?

According to 6Wresearch internal database and industry insights, the Global Business Travel Industry Market was exhibited at USD 739.6 billion in 2024 and is predicted to reach USD 1,200 billion by 2031, growing at a CAGR of 6.9% during the forecast period 2025–2031.

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Due to increasing globalization, cross-border corporate collaborations, and the return of in-person business events, conferences, and trade exhibitions post-pandemic, the market is anticipated for the substantial growth in the upcoming years.

Key Growth Factors of the Business Travel Industry Market

Recovery of global mobility and international trade activities
Growing participation in conferences, client meetings, and industry expos
Rise in managed travel solutions and expense optimization tools
Digital transformation in booking, itinerary, and expense management
Expansion of business operations across emerging markets

Business Travel Industry Market Trends

Business travel industry is growing over the years with strong shift toward hybrid work and travel models, where employees combine remote work with short business trips. At the other side, the digital booking platforms, AI-powered travel planning, and expense automation tools are transforming the travel experience. Also, the sustainable travel practices are gaining importance as companies seek to reduce their carbon footprint.

Emerging Developments in the Business Travel Industry Market

Business travel industry is developing with rise in adoption of centralized travel management platforms with real-time analytics to control the budgets and ensure policy compliance. Virtual reality is being explored for pre-travel experiences and venue previews. The market is integrated with the ESG metrics in corporate travel policies is also becoming more prominent. Furthermore, loyalty programs, AI-based travel risk alerts, and app-based concierge services are being used to enhance traveller satisfaction and retention.