Latest industry research report on Business Travel Market. Business travel is a division of regular tourism in which people travel for a business oriented purpose. Business travel includes transportation, accommodation, business work, entertainment, and some other activities. World travel & tourism industry is one of the biggest industries with global economic contribution of more than $7000 billion. Business travel is one of the fastest growing segments of travel industry.
In business tourism, destinations are generally commercial places, well developed, and suited for trade work. It is generally performed for a short period of time. Employees working in multinational organizations are often required to travel across various countries, for various business purposes.
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With the rise in demand for business travel management, numerous companies in this field are trying to provide well-managed and cost-effective programs to the customers. Time-management and comfort level of the traveler is very crucial for business travel. Presently the world business travel market growth is mainly driven by increase in investment in business travel, emergence of industrial revolution and increase in globalization.
However, higher adoption of technology such as video conferencing hampers the market growth as this is cost-effective and less time consuming as compared to travelling. On the other hand, rapidly changing business trends is expected to create attractive opportunities for world business travel market.
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The world business travel market is segmented on the basis of service, industry, traveler, budget, and geography.
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