BUSINESS TOURISM MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2025-2032)

Global Business Tourism Market Size and Forecast 2025- 2032

Global business tourism market size is estimated at USD 986.23 Bn in 2025 and is expected to reach USD 1,862.74 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 9.5% from 2025 to 2032.

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Key Takeaways of the Global Business Tourism Market

• In terms of service, transport segment is estimated to contribute the 51.9% share of the market in 2025
• In terms of industry, the corporate segment is estimated to contribute 62.1% share of the market in 2025.
• Among traveler type, the groups segment is estimated to contribute 68.3% share of the market in 2025 owing to convenience and efficiency gains from group coordination.
• North America has dominated the business tourism market for decades with an estimated 39.4% share in 2025.

Market Overview

The global business tourism market has witnessed a positive growth trajectory over the past few years. The ease of travel restrictions globally post the COVID-19 pandemic has led to a surge in cross-border travel for business purposes. Furthermore, rising globalization of business activities and increasing investments in international trade shows and conferences are supporting market development.

Current Events and Their Impact on the Global Business Tourism Market

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Emerging Applications in the Global Business Tourism Market

Companies are increasingly prioritizing sustainability in business travel, with 88% of global companies planning to integrate eco-friendly policies within five years, according to a 2022 GBTA report. Market leaders who invest in sustainable infrastructure like green hotels and carbon offset programs will gain a competitive edge and attract clients focused on ESG guidelines. Additionally, wellness-integrated business travel is an emerging, largely untapped area, with 74% of corporations prioritizing employee well-being, indicating significant growth potential.

• Sustainable business travel is emerging as a significant driver, with eco-conscious travelers and corporations seeking accommodations that align with their environmental values. Hotels like Marriott International have made significant strides in this area. As of 2018, Marriott had 225 LEED-certified properties and aimed to have 650 pursuing LEED certification by 2025. Their sustainability initiatives, including reducing carbon intensity by 30% and waste to landfill by 45%, have enhanced their appeal to corporate clients.
• Marriott International has committed to achieving net-zero greenhouse gas emissions across its value chain by 2050, with interim targets including a 46.2% reduction in Scope 1 and 2 emissions by 2030. Their Serve 360 platform integrates sustainability into operations, leading to increased direct bookings and enhanced loyalty program engagement.
• Corporations are also investing heavily in carbon-neutral travel programs. For instance, Microsoft has implemented self-imposed carbon taxes to encourage sustainable travel decisions. These corporate commitments are influencing hotel chains to invest in renewable energy and waste reduction systems. Hilton, for example, has committed to reducing its environmental footprint by 50% by 2030, including significant investments in energy efficiency and waste reduction.

Market Trends 

Growing Use of Incentive Travel

The business tourism industry is increasing use of incentive travel programs by companies. These are designed to motivate, reward and recognize sales teams, top performers, channel partners or other employees. Incentive travel provides the perfect avenue for companies to express appreciation for goals achieved in memorable ways.

Many organizations now structure their annual sales conferences, reward programs, and long-service celebrations around carefully planned incentive travel. This approach has proven more impactful than static monetary bonuses. As corporations continue prioritizing employee motivation and loyalty-building, well-designed incentive trips will remain a core component of business tourism portfolios. Their ability to foster team cohesion while offering memorable rewards makes them hugely valuable for both companies and their talent pools.

Global Business Meetings and Events

Business tourism is a crucial sector, driven by the global growth of business meetings and events, particularly in developing economies. While virtual meetings gained traction during the pandemic, in-person interactions remain vital for networking. Post-COVID-19, domestic business travel is surging.

For instance, the UNWTO World Tourism Barometer in 2022 noted an increase in domestic business trips in countries like the U.S., China, and India between 2022-2023 as restrictions eased and economic activities resumed. This is boosting MICE tourism in these nations. Similarly, major event hosts like the U.A.E, Singapore, and Malaysia are seeing significant increases in business tourist arrivals, with large-scale events continuing to drive short-term visits.

Market Opportunity: Growing investment in business development activities

As the global economy recovers, companies are investing more in business development activities like networking events and client meetings. Partnerships between private companies and destination marketing organizations can help boost a region's profile as a business events locale.

For instance, cities often work with their local DMO or convention bureau to attract major conferences and trade shows, showcasing their infrastructure and local expertise, which in turn boosts business tourism and economic development. India’s corporate travel market is experiencing significant growth, projected to reach US$ 21 billion by 2030, with small and medium enterprises contributing to 30% of corporate travel.

Market Concentration and Competitive Landscape

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Segmental Analysis

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Global Business Tourism Market Insights, by Industry

In terms of industry, the corporate segment is estimated to contribute 62.1% share of the market in 2025. Regular travel is integral to many modern corporate functions like client management, business development, and workforce coordination across multiple locations. Large enterprises in particular rely heavily on travel to integrate nationwide or global operations.

As digital technologies continue merging physical and virtual workspaces, in-person interactions remain important for collaborative planning, training, and culture-building among corporate teams.

Global Business Tourism Market Insights by Traveler Type  

Among traveler type, the groups segment is estimated to contribute 68.3% share of the market in 2025 owing to convenience and efficiency gains from group coordination.

Planning travel for multiple individuals at once allows companies and event organizers to negotiate advantageous rates with hotels, airlines, and venues. It also simplifies logistics like transportation through bulk booking. Organizing schedules, activities and accommodation together creates a seamless itinerary leveraging shared resources.

Regional Insights

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North America Business Tourism Industry Trends and Analysis

North America has dominated the business tourism market for decades with an estimated 39.4% share in 2025. The U.S. alone accounts for a massive portion of the overall market. This is largely due to the prominent presence of American multinationals and large corporations across all major industries. American cities like New York, Los Angeles, Chicago, and Las Vegas have become hubs for both domestic and international business travel. The infrastructure and accommodation capacity in these cities easily support large business events and conventions throughout the year.

Asia Pacific Business Tourism Industry Report

Asia Pacific is currently the fastest growing regional market for business tourism. Countries like China, India, and Indonesia have seen explosive economic growth in recent decades which has increased the demand. Cities such as Shanghai, Beijing, Singapore, Mumbai, and Jakarta now regularly host major industry expos and leadership summits that bring huge delegations.

India Business Tourism Market Trends and Analysis

India business tourism market is booming, fueled by increased corporate events and the nation's rapid economic growth. Improved infrastructure and digital platforms are boosting travel, while a post-pandemic surge in domestic trips and a strong focus on MICE tourism point to continued expansion.

China Business Tourism Market Trends and Analysis

China business tourism is rebounding strongly, primarily driven by domestic travel as restrictions ease. The market is shifting towards personalized experiences, with technology and social media playing a key role. Simplified visas and tourism infrastructure investment are expected to fuel continued growth, with projections of US$ 171,248.4 million by 2030.

Global Business Tourism Industry News

• On May 21, 2025, Emburse, a leader in travel and expense solutions, launched its new Emburse Travel and Expense Analytics solution.
• In March 2025, The World Travel & Tourism Council (WTTC) and Trip.com Group released a report highlighting 16 transformative technologies shaping the future of travel. This collaboration underscores a shared vision for leveraging technology to enhance the travel and tourism sector.
• In May 2025, Spotnana launched a new product suite for travel management companies, which combines its Travel-as-a-Service platform with functionality specific to TMC needs.

Analyst View

• Corporate travel has become ruthlessly selective. Companies have discovered they can eliminate 60-70% of their traditional business trips without impacting outcomes.
• New technologies enabling hybrid and virtual participation are key opportunities, while sustainability is gaining importance despite threats from volatile costs and geopolitical uncertainties.
• The clearest trend is that business travelers now demand consumer-like convenience paired with enterprise-level customization. Hotels that fail to offer seamless integration with corporate booking systems, real-time expense tracking, and tailored wellness offerings are increasingly being dropped from corporate travel programs.

Geopolitical instability isn’t merely a disruption—it’s a catalyst for strategic realignment in business travel. Companies are capitalizing on this moment, uncovering high-value alternatives in secondary markets like Lisbon, Dubai, and Singapore, which often offer better business outcomes at lower total cost than legacy hubs. Travel restrictions are no longer barriers but prompts for geographic diversification—a shift that’s proving both permanent and transformative, marking the most significant structural change in business travel.

Market Segmentation

•  Service Insights (Revenue, USD Bn, 2020 - 2032)
• Transport
• Food & Lodging
• Recreation activity
• Others
•  Industry Insights (Revenue, USD Bn, 2020 - 2032)
• Corporate
• Government
•  Traveler Type Insights (Revenue, USD Bn, 2020 - 2032)
• Solo
• Groups
• Regional Insights (Revenue, USD Bn, 2020 - 2032)
• North America
• U.S.
• Canada
• Latin America
• Brazil
• Argentina
• Mexico
• Rest of Latin America
• Europe
• Germany
• U.K.
• Spain
• France
• Italy
• Russia
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa
• GCC Countries
• Israel
• Rest of Middle East & Africa
• Key Players Insights
• Adelman Travel Group
• Wexas Travel
• American Express Global Business Travel
• BCD Travel
• Carlson Wagonlit Travel (CWT)
• Expedia Group
• Flight Centre Travel Group
• Hogg Robinson Group (HRG)
• HRG North America
• Corporate Travel Management (CTM)
• Egencia
• FCM Travel Solutions
• HRG Nordic
• Omega World Travel
• Sabre Corporation
• Thomas Cook Group
• Travel Leaders Group
• Travel and Transport
• TUI Group
• World Travel, Inc.

Sources:

Stakeholders:

• Industry Experts from Leading Travel Management Companies
• Executives from Global Hotel Chains
• Senior Representatives from Major Airlines
• Event Management & Conference Organizers
• Others

Databases:

• World Travel & Tourism Council (WTTC)
• International Air Transport Association (IATA)
• UN World Tourism Organization Database (UNWTO)
• Global Business Travel Association (GBTA)
• Others

Magazines:

• Business Traveller Magazine
• Travel Weekly
• Conference & Meetings World
• Others

Journals:

• Journal of Business Travel Management
• Tourism Management Journal
• International Journal of Tourism Research
• Others

 Newspapers:

• The Wall Street Journal
• Financial Times
• The Economic Times
• Others

Associations:

• Global Business Travel Association (GBTA)
• International Congress and Convention Association (ICCA)
• Professional Convention Management Association (PCMA)
• Association of Corporate Travel Executives (ACTE)
• Others

Public Domain Sources:

• Organization for Economic Co-operation and Development (OECD)
• UN World Tourism Organization (UNWTO)
• World Economic Forum (WEF)
• International Trade Administration (ITA)
• Others

Proprietary Elements:

• CMI Data Analytics Tool, Proprietary CMI Existing Repository of Information for Last 8 Years

*Definition: Business tourism market consists of domestic and international business travelers who visit destinations for meetings, incentives, conferences, and exhibitions. This market includes travelers attending corporate off-sites, seminars and training programs, trade shows, product launches, sales conferences, and large conventions. Business tourists contribute significantly to local economies through spending on accommodation, food and beverage, transportation, retail, entertainment and other services during their trips for work purposes. Their visits help promote business and commerce both within and outside their own organizations.