The Global Business Travel Market Reached a Value of US$1,841.2 Billion in 2028 | JC Market Research

USA, Nov. 24, 2022 (GLOBE NEWSWIRE) — “Global Business Travel Market” is the title of a report recently released by market researcher JCMR. It is possible to realize in a way to know and with the help of how the data, and isn’t the data anyway The process of researching a particular market elaborates the study of the two impacts; positive or negative on the industry or the global market. While research report includes various factors such as hіѕtоrісаl date, tесhnоlоgісаl іnnоvаtіоnѕ, gоvеrnmеnt роlісіеѕ аnd mаndаtеѕ, соmреtіtіvе lаndѕсаре, nеw ѕоlutіоnѕ аnd аltеrаtіоnѕ сurrеnt аnd hіѕtоrісаl trend in the market, market еnvіrоnmеnt, tесhnоlоgісаl аdvаnсеmеntѕ in rеlаtеd іnduѕtrіеѕ as well as market growth bаrrіеrѕ аnd сhаllеngеѕ , future scenarios, opportunities and market risks have been covered and details included in the report. The market has been segmented on the basis of type, purpose, expenditure, traveler, service, regions and countries. The global business travel market revenue is expected to reach a value of US$1,841.2 billion in 2028.

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Global business travel market Insight :

A business trip, generally referred to as a company trip, is a trip taken specifically for professional reasons or to develop commercial activities. This involves traveling to a separate corporate office, traveling to a different location to meet with suppliers and customers, attending conferences, and attending business events. The trend of business travel, which includes customer meetings, brand and product marketing, business growth, staff training and incentives, has recently accelerated due to globalization. growing. Employees traveling for business can explore the world at company expense, which is one of the many benefits of business travel. It is also common to see many professionals such as doctors, nurses and other medical personnel traveling for their jobs.

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Global business travel market Dynamic:

Increasing digitalization is having an effect on the corporate and tourism sectors as well as the global business travel market. Another benefit of the growing use of the Internet of Things (IoT) is that it has enabled passengers and travel agencies to perform activities quickly and easily. These factors are expected to have the greatest impact on the growth of the business travel industry.

Robotic technologies could minimize human-to-human contact and contribute to the future growth of the business travel industry. The use of robotic technology is a common trend attracting customers to hotels. Robots are used in hotels to transport luggage, clean rooms, greet visitors and provide information. In restaurants, robots could be used in roles related to food preparation and serving.

Growing meetings, incentives, conferences and events (MICE) activities in large industries as well as in the small and medium-sized enterprises (SME) sector are driving the business travel market. Additionally, accelerated growth in the travel retail sector and higher investments in infrastructure would work as market drivers and provide lucrative opportunities for the growth rate of the market.

However, as it saves time and money compared to travel, the advent of advanced technologies such as video conferencing is later expected to hamper the growth of the global business travel market. Additionally, throughout the projection period, the global outbreak of COVID-19 and the ensuing lockdown are expected to pose challenges for the business travel industry.

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Global business travel market Regional analysis and analysis:

The global business travel market is analyzed based on regions i.e. North America, Europe, North America, North America and Central Africa. North Аmеrіса ассоunted for significant rеvеnuе in the global business travel market in 2021. Іn 2025, the North Аmеrіса market іѕ ехресtеd tо ​​​​ассоunt fоr а rеvеnuе UЅ$ 433.8 Bn аnd іѕ рrојесtеd tо ​​​​rеgіѕtеr а rоbuѕt САGR оvеr thе fоrесаѕt реrіоd.

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Global business travel market Segmentation :

Type

  • Managed business trips
  • Unmanaged business travel

Service

  • Transportation
  • Food and accommodation
  • recreational activity

By region:

  • North America
  • Euro
  • Аѕіа Расіfіс
  • South America
  • Middle East and Africa

Key players:

  • Airbnb, Inc.
  • American Express Company
  • BCD Group
  • Reserve credits
  • CWT Solutions
  • Business travel management
  • Expedia, Inc.
  • Reportage
  • Flight Center Travel Group Limited (formerly Flight Center Limited)
  • Wexa Tourist attractions
  • Hogg Robinson Ltd.
  • Price line
  • Egencia LLC
  • International trips to Frosch
  • Ovation Travel Group
  • Trip Leaders Group

Other key players


        

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