Business Travel Market To See Exponential Growth, Expected To Reach $2.1 Trillion By 2031 As Revealed In New Report

The global business travel market is expected to reach $2.1 trillion by 2031, growing at a CAGR of 9.5% from 2022 to 2031. This growth is driven by the expansion of the travel & tourism industry, surge in government initiatives for the development of MICE segment & SME sector, and increase in globalization of business. The market is also influenced by the growing trend of bleisure travel and the development of smart hotels and virtual reality for hotel bookings.