Global corporate travel market was evaluated at $711.1 billion in 2021 and is slated to hit $2,997.2 billion by the end of 2030 with a CAGR of nearly 13.3%
FrequentlyAsked Questions
The global corporate travel market is anticipated to expand over 2022-2030 owing to establishment of smart hotels & restaurants and the use of new technologies such as virtual reality & machine learning algorithms as well as AI for hotel booking in the travel sector.
According to study, the global corporate travel market size was $711.1 billion in 2021 and is projected to reach $2,997.2 billion by the end of 2030 with a compound annual growth rate (CAGR) of roughly 13.3% between 2022 and 2030.
The Asia-Pacific corporate travel market is anticipated to record the highest growth in the forthcoming years due to the presence of strong infrastructure in countries such as Japan, India, and China. Moreover, the Asia-Pacific region accounted for about 44% of the global market share in 2021 due to governments in the region providing impetus and soaps to the travel & tourism industry.
The global corporate travel market is led by players like Airbnb, Inc., Corporate Travel Management, Expedia, Inc., American Express, Flight Centre Travel Group Limited, BCD Group, Fareportal, Booking Holdings, Inc., Carlson Wagonlit Travel, and Wexas Limited.
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