
United States Business Travel Market Report and Forecast 2025-2034
Description
The United States business travel market value reached approximately USD 258.66 Billion in 2024. The market is further projected to grow at a CAGR of 9.80% between 2025 and 2034, reaching a value of USD 658.80 Billion by 2034.
United States Business Travel Market Growth
Business travel refers to travelling activities that are specifically undertaken for work purposes. The different purposes of business travel include networking, attending events and meetings, assessment of products or services before investing, and travelling for client and vendor meetings.
The rising emphasis on employee well-being is supporting the United States business travel industry growth. To encourage employees and foster team cohesion, many companies are actively investing in leisure activities. These activities help alleviate stress and enhance work productivity.
United States Business Travel Market Analysis
The growing initiatives by various companies to embrace sustainable travel practices and increasing consciousness about their carbon footprint are supporting the market expansion. These initiatives motivate environmentally conscious employees to engage in business travel, which in turn boosts the United States business travel industry revenue.
The expansion of the travel and tourism sector and the increasing penetration of Airbnb have resulted in the availability of enhanced travel experiences for individuals, providing lucrative growth. These initiatives inspire environmentally conscious employees to participate in business travel, thereby enhancing revenue and creating the United States business travel market opportunities.
United States Business Travel Industry Outlook
According to Tourism Economics, internal meetings saw high participation among business travellers, with 85% taking at least one trip in both Q2 and Q4 of 2022, and 80% in Q3 of 2022. Similarly, customer, supplier, or stakeholder meetings maintained strong figures, with 80% in Q2 2022, 75% in Q3 2022, and 78% in Q4 2022. Conferences, conventions, or trade shows showed consistent participation, with 83% pre-pandemic, 81% in Q2 2022, 78% in Q3 2022, and 80% in Q4 2022. In Q1 2023, 82% of business travellers took at least one trip for internal meetings, 74% planned trips for customer, supplier, or other stakeholder meetings, and 79% attended conferences, conventions, or trade shows.
According to Industry reports, corporate travel spending in H2 2020 was at 3%, rising to 7% in H1 2021 and 11% in H2 2021. In H1 2022, spending saw a significant increase to 27% and continued to grow to 42% in H2 2022. The upward trend continued in 2023, with corporate travel spending hitting 57% in the first half and 71% in the second half. It is anticipated to recover significantly, with projections of 85% in the first half and 95% in the second half of 2024, boosting the United States business travel market revenue.
The United States business travel market dynamics and trends are being strengthened during to the growing tourism sector. The U.S. is leading the Americas in inbound leisure travel, with spending hitting USD 83 billion in 2023, signalling a robust recovery. In Q2 2023, 42% of US consumers earning below USD 50k planned to travel within six months. This percentage increased to 67% for those earning between USD 50k and USD 99k. For households with incomes between USD 100k and USD 149k, 78% intended to travel within the same period. The trend is even more pronounced in higher income brackets, with 81% of individuals earning between USD 150k and USD 249k and 82% of those earning over USD 250k planning to travel, showing the highest travel intentions among all income groups.
A robust corporate sector in the U.S. drives high demand for business travel, supporting the growth of the United States business travel market through frequent meetings, conferences, and client interactions.
Expedia, Inc.
“United States Business Travel Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
The corporate sector drives substantial United States business travel demand growth due to the essential role of corporate travel in strengthening professional relationships, forging new partnerships, and supporting global company expansion.
The growing awareness about the various benefits associated with business travel including the development of decision-making skills and exposure to newer environments are bolstering the United States business travel market demand.
Leading Companies in the United States Business Travel Market
The companies are travel management firms delivering extensive business travel solutions. They offer services such as travel booking, expense management, and policy compliance, utilising advanced technology and global expertise to improve efficiency and streamline corporate travel experiences for clients.
United States Business Market Size
United States Business Market Growth
United States Business Market Analysis
United States Business Market Share
United States Business Companies
United States Business Travel Market Growth
Business travel refers to travelling activities that are specifically undertaken for work purposes. The different purposes of business travel include networking, attending events and meetings, assessment of products or services before investing, and travelling for client and vendor meetings.
The rising emphasis on employee well-being is supporting the United States business travel industry growth. To encourage employees and foster team cohesion, many companies are actively investing in leisure activities. These activities help alleviate stress and enhance work productivity.
United States Business Travel Market Analysis
The growing initiatives by various companies to embrace sustainable travel practices and increasing consciousness about their carbon footprint are supporting the market expansion. These initiatives motivate environmentally conscious employees to engage in business travel, which in turn boosts the United States business travel industry revenue.
The expansion of the travel and tourism sector and the increasing penetration of Airbnb have resulted in the availability of enhanced travel experiences for individuals, providing lucrative growth. These initiatives inspire environmentally conscious employees to participate in business travel, thereby enhancing revenue and creating the United States business travel market opportunities.
United States Business Travel Industry Outlook
According to Tourism Economics, internal meetings saw high participation among business travellers, with 85% taking at least one trip in both Q2 and Q4 of 2022, and 80% in Q3 of 2022. Similarly, customer, supplier, or stakeholder meetings maintained strong figures, with 80% in Q2 2022, 75% in Q3 2022, and 78% in Q4 2022. Conferences, conventions, or trade shows showed consistent participation, with 83% pre-pandemic, 81% in Q2 2022, 78% in Q3 2022, and 80% in Q4 2022. In Q1 2023, 82% of business travellers took at least one trip for internal meetings, 74% planned trips for customer, supplier, or other stakeholder meetings, and 79% attended conferences, conventions, or trade shows.
According to Industry reports, corporate travel spending in H2 2020 was at 3%, rising to 7% in H1 2021 and 11% in H2 2021. In H1 2022, spending saw a significant increase to 27% and continued to grow to 42% in H2 2022. The upward trend continued in 2023, with corporate travel spending hitting 57% in the first half and 71% in the second half. It is anticipated to recover significantly, with projections of 85% in the first half and 95% in the second half of 2024, boosting the United States business travel market revenue.
The United States business travel market dynamics and trends are being strengthened during to the growing tourism sector. The U.S. is leading the Americas in inbound leisure travel, with spending hitting USD 83 billion in 2023, signalling a robust recovery. In Q2 2023, 42% of US consumers earning below USD 50k planned to travel within six months. This percentage increased to 67% for those earning between USD 50k and USD 99k. For households with incomes between USD 100k and USD 149k, 78% intended to travel within the same period. The trend is even more pronounced in higher income brackets, with 81% of individuals earning between USD 150k and USD 249k and 82% of those earning over USD 250k planning to travel, showing the highest travel intentions among all income groups.
A robust corporate sector in the U.S. drives high demand for business travel, supporting the growth of the United States business travel market through frequent meetings, conferences, and client interactions.
- The U.S. boasts well-developed transportation and accommodation infrastructure, facilitating seamless business travel experiences.
- Adopting advanced technology, such as travel management software and mobile apps, enhances efficiency and convenience for business travellers.
- Unpredictable weather, political events, or security issues can cause travel disruptions, impacting business schedules and productivity.
- The market is sensitive to economic fluctuations, with downturns potentially leading to reduced travel budgets and lower demand.
- Enhanced travel management programs and policies can provide cost savings and efficiency improvements for businesses, driving the United States business travel market demand for travel solutions.
- Growing emphasis on sustainable travel practices presents opportunities to develop eco-friendly travel options and attract environmentally conscious corporate clients.
- Changes in travel regulations, visa policies, or security measures can create barriers and complicate travel arrangements.
- Intense competition among travel service providers can lead to price wars and reduced profit margins for companies in the business travel sector.
Expedia, Inc.
- Introduced advanced AI-driven tools for personalized travel planning.
- Introduced the Open World™ Accelerator to empower startups and SMBs to meet the growing demand of the United States business travel market.
- Launched "FlexiPerk," offering flexible travel bookings.
- Implemented "GreenPerk" for carbon offsetting.
- Launched an AI-powered travel booking platform.
- Introduced a next-generation corporate booking experience to capture the United States business travel market opportunities.
- Recognised with multiple awards at the 2024 BTN Sustainability Summit.
- Launched innovative tools to streamline guest travel management.
“United States Business Travel Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Managed Business Travel
- Unmanaged Business Travel
- Internal Meetings
- Marketing
- Product Launch
- Trade Shows
- Others
- Travellers Below 40 Years
- Travellers Above 40 Years
- Solo Travel
- Group Travel
- Lodging
- Dining
- Travel Fare
- Others
- Transportation
- Food and Lodging
- Recreation Activity
- Corporate
- Government
- Others
- New England
- Mideast
- Great Lakes
- Plains
- Southeast
- Southwest
- Rocky Mountain
- Far West
The corporate sector drives substantial United States business travel demand growth due to the essential role of corporate travel in strengthening professional relationships, forging new partnerships, and supporting global company expansion.
The growing awareness about the various benefits associated with business travel including the development of decision-making skills and exposure to newer environments are bolstering the United States business travel market demand.
Leading Companies in the United States Business Travel Market
The companies are travel management firms delivering extensive business travel solutions. They offer services such as travel booking, expense management, and policy compliance, utilising advanced technology and global expertise to improve efficiency and streamline corporate travel experiences for clients.
- Expedia, Inc.
- TravelPerk S.L.U.
- American Express Global Business Travel (GBT)
- Navan, Inc.
- Booking Holdings Inc.
- BCD Travel Services B.V.
- World Travel, Inc
- Corporate Travel Management
- Travel Leaders Group
- CLC Lodging
United States Business Market Size
United States Business Market Growth
United States Business Market Analysis
United States Business Market Share
United States Business Companies
Table of Contents
110 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Regions
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 North America Business Travel Market Overview
- 5.1 Key Industry Highlights
- 5.2 North America Business Travel Historical Market (2018-2024)
- 5.3 North America Business Travel Market Forecast (2025-2034)
- 5.4 North America Business Travel Market Share by Country
- 5.4.1 United States
- 5.4.2 Canada
- 6 United States Business Travel Market Overview
- 6.1 Key Industry Highlights
- 6.2 United States Business Travel Historical Market (2018-2024)
- 6.3 United States Business Travel Market Forecast (2025-2034)
- 7 United States Business Travel Market by Type
- 7.1 Managed Business Travel
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Unmanaged Business Travel
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 8 United States Business Travel Market by Purpose Type
- 8.1 Internal Meetings
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 Marketing
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 8.3 Product Launch
- 8.3.1 Historical Trend (2018-2024)
- 8.3.2 Forecast Trend (2025-2034)
- 8.4 Trade Shows
- 8.4.1 Historical Trend (2018-2024)
- 8.4.2 Forecast Trend (2025-2034)
- 8.5 Others
- 9 United States Business Travel Market by Age Group
- 9.1 Travellers Below 40 Years
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 Travellers Above 40 Years
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 10 United States Business Travel Market by Travel Type
- 10.1 Solo Travel
- 10.1.1 Historical Trend (2018-2024)
- 10.1.2 Forecast Trend (2025-2034)
- 10.2 Group Travel
- 10.2.1 Historical Trend (2018-2024)
- 10.2.2 Forecast Trend (2025-2034)
- 11 United States Business Travel Market by Expenditure
- 11.1 Lodging
- 11.1.1 Historical Trend (2018-2024)
- 11.1.2 Forecast Trend (2025-2034)
- 11.2 Dining
- 11.2.1 Historical Trend (2018-2024)
- 11.2.2 Forecast Trend (2025-2034)
- 11.3 Travel Fare
- 11.3.1 Historical Trend (2018-2024)
- 11.3.2 Forecast Trend (2025-2034)
- 11.4 Others
- 12 United States Business Travel Market by Service
- 12.1 Transportation
- 12.1.1 Historical Trend (2018-2024)
- 12.1.2 Forecast Trend (2025-2034)
- 12.2 Food and Lodging
- 12.2.1 Historical Trend (2018-2024)
- 12.2.2 Forecast Trend (2025-2034)
- 12.3 Recreation Activity
- 12.3.1 Historical Trend (2018-2024)
- 12.3.2 Forecast Trend (2025-2034)
- 13 United States Business Travel Market by End Use
- 13.1 Corporate
- 13.1.1 Historical Trend (2018-2024)
- 13.1.2 Forecast Trend (2025-2034)
- 13.2 Government
- 13.2.1 Historical Trend (2018-2024)
- 13.2.2 Forecast Trend (2025-2034)
- 13.3 Others
- 14 United States Business Travel Market by Region
- 14.1 New England
- 14.1.1 Historical Trend (2018-2024)
- 14.1.2 Forecast Trend (2025-2034)
- 14.2 Mideast
- 14.2.1 Historical Trend (2018-2024)
- 14.2.2 Forecast Trend (2025-2034)
- 14.3 Great Lakes
- 14.3.1 Historical Trend (2018-2024)
- 14.3.2 Forecast Trend (2025-2034)
- 14.4 Plains
- 14.4.1 Historical Trend (2018-2024)
- 14.4.2 Forecast Trend (2025-2034)
- 14.5 Southeast
- 14.5.1 Historical Trend (2018-2024)
- 14.5.2 Forecast Trend (2025-2034)
- 14.6 Southwest
- 14.6.1 Historical Trend (2018-2024)
- 14.6.2 Forecast Trend (2025-2034)
- 14.7 Rocky Mountain
- 14.7.1 Historical Trend (2018-2024)
- 14.7.2 Forecast Trend (2025-2034)
- 14.8 Far West
- 14.8.1 Historical Trend (2018-2024)
- 14.8.2 Forecast Trend (2025-2034)
- 15 Market Dynamics
- 15.1 SWOT Analysis
- 15.1.1 Strengths
- 15.1.2 Weaknesses
- 15.1.3 Opportunities
- 15.1.4 Threats
- 15.2 Porter’s Five Forces Analysis
- 15.2.1 Supplier’s Power
- 15.2.2 Buyer’s Power
- 15.2.3 Threat of New Entrants
- 15.2.4 Degree of Rivalry
- 15.2.5 Threat of Substitutes
- 15.3 Key Indicators for Demand
- 15.4 Key Indicators for Price
- 16 Competitive Landscape
- 16.1 Supplier Selection
- 16.2 Key Global Players
- 16.3 Key Regional Players
- 16.4 Key Player Strategies
- 16.5 Company Profiles
- 16.5.1 Expedia, Inc.
- 16.5.1.1 Company Overview
- 16.5.1.2 Product Portfolio
- 16.5.1.3 Demographic Reach and Achievements
- 16.5.1.4 Certifications
- 16.5.2 TravelPerk S.L.U.
- 16.5.2.1 Company Overview
- 16.5.2.2 Product Portfolio
- 16.5.2.3 Demographic Reach and Achievements
- 16.5.2.4 Certifications
- 16.5.3 American Express Global Business Travel (GBT)
- 16.5.3.1 Company Overview
- 16.5.3.2 Product Portfolio
- 16.5.3.3 Demographic Reach and Achievements
- 16.5.3.4 Certifications
- 16.5.4 Navan, Inc.
- 16.5.4.1 Company Overview
- 16.5.4.2 Product Portfolio
- 16.5.4.3 Demographic Reach and Achievements
- 16.5.4.4 Certifications
- 16.5.5 Booking Holdings Inc.
- 16.5.5.1 Company Overview
- 16.5.5.2 Product Portfolio
- 16.5.5.3 Demographic Reach and Achievements
- 16.5.5.4 Certifications
- 16.5.6 BCD Travel Services B.V.
- 16.5.6.1 Company Overview
- 16.5.6.2 Product Portfolio
- 16.5.6.3 Demographic Reach and Achievements
- 16.5.6.4 Certifications
- 16.5.7 World Travel, Inc
- 16.5.7.1 Company Overview
- 16.5.7.2 Product Portfolio
- 16.5.7.3 Demographic Reach and Achievements
- 16.5.7.4 Certifications
- 16.5.8 Corporate Travel Management
- 16.5.8.1 Company Overview
- 16.5.8.2 Product Portfolio
- 16.5.8.3 Demographic Reach and Achievements
- 16.5.8.4 Certifications
- 16.5.9 Travel Leaders Group
- 16.5.9.1 Company Overview
- 16.5.9.2 Product Portfolio
- 16.5.9.3 Demographic Reach and Achievements
- 16.5.9.4 Certifications
- 16.5.10 CLC Lodging
- 16.5.10.1 Company Overview
- 16.5.10.2 Product Portfolio
- 16.5.10.3 Demographic Reach and Achievements
- 16.5.10.4 Certifications
- 16.5.11 Others
Pricing
Currency Rates
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