According to Allied Market Research’s report, the business travel market was valued at US$689.7 billion in 2021, and is estimated to reach US$2,095.4 billion by 2031. By service, the food & lodging segment is estimated to witness the fastest growth. The report stated, “The growing popularity of leisure incorporating business with recreational or leisure activities to relieve stress and enhance work-efficiency is propelling the global business travel market. The development and growth of various online travel agencies such as booking.com, KAYAK, and Expedia, are contributing toward the growth of the global business travel market.”
