How big is the corporate travel market | Trends 2031

Q: What is the market size of the corporate travel market?

Corporate travel market size is projected to grow from USD 711.1 billion to approximately USD 1,248.2 billion.

Q: What is the expected CAGR of the corporate travel market during forecast period?

The corporate travel market is expected to expand at a CAGR of 7.4% during the forecast period.

Q: What are the key drivers of the corporate travel market?

Key drivers of corporate travel market include globalization, demand for business networking, rise in MICE activities, and technological advancements in travel management.

Q: What are the major trends in the corporate travel industry?

Major trends of corporate travel market include digital transformation, adoption of AI, sustainable travel practices, and integration of travel and expense tools.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

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Code: MTA5374

Publication Date: Jul 2025

What is the Corporate Travel Market Size?

According to 6Wresearch internal database and industry insights, the Corporate Travel market was valued at USD 711.1 billion in 2024 and is anticipated to exceed USD 1248.2 billion by 2031, registering a steady at a CAGR of 7.4% during the forecast period.

The corporate travel market is gaining traction due to increasing globalization, expansion of multinational companies, and the growing need for in-person client interactions and business networking. Enhanced travel management technologies, rising adoption of automation in booking systems, and the integration of expense management solutions are also contributing to market growth. Additionally, the rising frequency of international meetings, incentives, conferences, and exhibitions (MICE) is boosting travel activities among corporations.

Major Growth Factors of the Corporate Travel Industry

Expansion of multinational corporations
Rise in MICE activities
Technological advancements in travel booking
Increase in global business collaborations
Growth of digital travel management tools
Recovery in post-pandemic business travel
Demand for personalized and seamless travel experiences
Strategic partnerships between travel agencies and enterprises

Corporate Travel Market Trends

The corporate travel market is witnessing a shift towards digital and contactless solutions, including mobile apps and virtual payments. There is a growing preference for sustainable travel options and policies that align with environmental, social, and governance (ESG) goals. Personalization of services and AI-driven analytics for travel optimization are also key trends reshaping the corporate travel landscape.

Emerging Developments in the Corporate Travel Industry

The corporate travel market is seeing increased investment in AI and machine learning tools to offer smarter booking recommendations and predictive analytics. Integration of travel and expense management platforms with enterprise resource planning (ERP) systems is becoming more common. Companies are also adopting hybrid travel models to balance virtual and physical meetings, improving cost-effectiveness and employee satisfaction.