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We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters with a limited impact on the full-year economic growth according to the latest market research report by Technavio.
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Business Travel Market Drivers & Challenges
The growing technological advances and availability of business services in hotels are driving the business travel market growth, although factors such as the rising number of pandemics, travel fatigue, ill-managed travel plans, and number of pandemics may impede the market growth.
This research report also analyzes other significant trends and market drivers that will influence market growth during 2021-2025.
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Business Travel Market: Segmentation Analysis
This market research report segments the business travel market by Market Landscape (Travel fare, Lodging, Dining, and Others), Application (Marketing, Internal meeting, Trade show, and Product launch), and Geography (APAC, Europe, North America, South America, and MEA).
The APAC region led the business travel market in 2021, followed by Europe, North America, South America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the digitalization of travel payments.
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Some of the key topics covered in the report include:
- Market Drivers
- Market Challenges
- Market Trends
- Vendor Landscape
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