The global business travel market generated revenue of $1,266 billion in 2016, and is expected to grow at a CAGR of 4.1% to reach $1,657 billion by 2023.
Business travel is a division of regular tourism in which people travel for a business-oriented purpose. It includes transportation, accommodation, business work, entertainment, and other activities. Global travel & tourism industry is one of the largest industries with global economic contribution of more than $7000 billion. The business travel segment shows the highest growth rate in this industry, as employees working in multinational organizations are often required to travel across various countries for business purposes. In business tourism, destinations are commercial places, which are well-developed and suited for trade work.
Major Key Players of the Business Travel Market are:Airbnb, American Express Travel, Expedia, BCD Travel, Carlson Wagonlit Travel, Flight Centre Travel Group, Hogg Robinson Group, The Priceline Group, Fareportal, Inc. (travelong inc.), and Wexas Travel.
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