- media@moneyinfocus.news
The global business travel market is projected to more than triple in size over the next decade, reaching $2.09 trillion by 2031, according to a report published by Allied Market Research.
The sector, valued at $689.7 billion in 2021, is expected to expand at a compound annual growth rate (CAGR) of 9.5%, positioning it as one of the most resilient segments within the global travel and tourism industry.
Growth is being supported by a combination of structural factors, including the continued globalization of businesses, the resurgence of in-person meetings, and the expansion of the MICE (Meetings, Incentives, Conferences, and Exhibitions) segment.
Business travel spending has rebounded strongly, with industry data indicating global expenditures reached approximately $1.57 trillion in 2025 and are projected to exceed $1.8 trillion by 2026, signaling sustained demand for corporate mobility.
The integration of business and leisure travel—often referred to as “bleisure”—has become a mainstream trend, influencing booking behavior and extending trip durations. At the same time, artificial intelligence is being increasingly embedded across the travel value chain, from booking optimization to real-time disruption management.
Corporate travel programs are also evolving to incorporate sustainability requirements, including carbon tracking and sustainable fuel strategies, as companies respond to regulatory and ESG pressures.
By service, food and lodging accounted for the largest share of market revenue and are expected to maintain strong growth through 2031, supported by the expansion of corporate accommodation platforms.
The corporate segment continues to dominate overall demand, driven by cross-border business activity, client engagement, and workforce mobility, while government travel is also emerging as a growing segment.
North America remains the largest market, led by the United States, supported by a high concentration of multinational companies and advanced travel infrastructure.
Asia-Pacific is expected to register the fastest growth, driven by expanding trade activity, strong shipbuilding and aviation ecosystems, and increasing adoption of alternative travel technologies across key markets including China and India.
Major players in the sector include American Express Global Business Travel, BCD Travel, CWT Solutions Group, Expedia Group, and Booking Holdings, among others, as companies invest in integrated platforms that combine booking, expense management, and compliance.
