Business travel is a division of regular tourism in which people travel for a business oriented purpose. Business travel includes transportation, accommodation, business work, entertainment, and some other activities. World travel & tourism industry is one of the biggest industries with global economic contribution of more than $7000 billion. Business travel is one of the fastest growing segment of travel industry. In business tourism, destinations are generally commercial places, welldeveloped, and suited for trade work. It is generally performed for a short period of time. Employees working in multinational organizations are often required to travel across various countries, for various business purposes.
With the rise in demand for business travel management, numerous companies in this field are trying to provide well-managed and cost-effective programs to the customers. Time-management and comfort level of the traveler is very crucial for business travel. Presently the world business travel market growth is mainly driven by increase in investment in business travel, emergence of industrial revolution and increase in globalization. However, higher adoption of technology such as video conferencing hampers the market growth as this is cost-effective and less time consuming as compared to travelling. On the other hand, rapidly changing business trends is expected to create attractive opportunities for world business travel market.
The market is segmented on the basis of service type, industry, traveler, budget, and geography. The service segment is classified into transportation, food & lodging, and business activity. The industry segment includes government and corporate. On the basis of traveler, the market is classified as solo traveler and group traveler. The report also analyses market by travel budget that include high budget, medium budget, and low budget. Based on geography, the world business travel market is divided into North America, Europe, Asia-Pacific, and LAMEA. North America is classified into the U.S., Mexico, and Canada. Europe has been further segmented into UK, Russia, Germany, and rest of the Europe. The countries covered under Asia-Pacific are China, India, Japan, and rest of Asia-Pacific. LAMEA includes Latin America, Middle East, and Africa.
Major companies profiled in the report include Expedia Inc., The Priceline Group, American Express Travel, Carlson Wagonlit Travel, BCD Travel, HRG North America, Orbitz Worldwide, FC USA, Travelong, and AAA Travel.
POTENTIAL BENEFITS FOR STAKEHOLDERS
- Comprehensive analysis of the current and future trends in the world business travel market are provided in this report
- The report offers a competitive scenario of the world business travel market with current and future growth trends, structure, driving factors, scope, opportunities, and challenges
- The report includes a comprehensive analysis of market segments to provide insights on the market dynamics
- Porters Five Forces analysis highlights the potential of buyers and suppliers as well as provides insights on the competitive structure of the market to devise effective growth strategies and facilitate better decision-making
- Value chain analysis provides key inputs on the role of stakeholders involved at various stages of the value chain
- SWOT analysis of the key market players highlights their strengths and weaknesses along with potential opportunities present in the market
BUSINESS TRAVEL MARKET SEGMENTATION
The world business travel market is segmented on the basis of service, industry, traveler, budget, and geography.
- Food & Lodging
- Business Activity
- High budget
- Medium budget
- Low budget
- North America
- Rest of the Europe
- Rest of Asia Pacific
- Latin America
- Middle East
- Key Players
- Expedia Inc.
- The Priceline Group
- American Express Travel
- Carlson Wagonlit Travel
- BCD Travel
- HRG North America
- Orbitz Worldwide
- FC USA
- AAA Travel