![]() ![]() ![]() ![]() The development and growth of various online travel agencies (OTA) such as, KAYAK, and Expedia, are contributing toward the growth of the global business travel market. The growing popularity of leisure incorporating business with recreational or leisure activities to relieve stress and enhance work-efficiency is propelling the global business travel market. Business travel is done mainly for building partnerships, joint ventures, meeting suppliers and customers, maintaining relation between companies, and promotion of product or service. PORTLAND, OREGON, UNITED STATES, July 11, 2023/ / - According to a new report published by Allied Market Research, titled, “ Business Travel Market," The business travel market size was valued at $689.70 billion in 2021, and is estimated to reach $2095.4 billion by 2031, growing at a CAGR of 9.5% from 2022 to 2031.īusiness travel or business tourism refers to the activity of travelling or journey that is done for various business purposes such as meetings, negotiate deals, networking, trade shows, and exhibitions. The food & lodging segment is estimated to witness the fastest growth, registering a CAGR of 9.8% during the forecast period. ![]()
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