Business Tourism

Global Business Tourism Market to Reach US$1.3 Trillion by 2030

The global market for Business Tourism estimated at US$873.8 Billion in the year 2024, is expected to reach US$1.3 Trillion by 2030, growing at a CAGR of 7.4% over the analysis period 2024-2030. Transport, one of the segments analyzed in the report, is expected to record a 5.7% CAGR and reach US$660.7 Billion by the end of the analysis period. Growth in the Food & Lodging segment is estimated at 9.6% CAGR over the analysis period.

The U.S. Market is Estimated at US$238.1 Billion While China is Forecast to Grow at 11.3% CAGR

The Business Tourism market in the U.S. is estimated at US$238.1 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$278.3 Billion by the year 2030 trailing a CAGR of 11.3% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.8% and 7.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.8% CAGR.

Global Business Tourism Market – Key Trends & Drivers Summarized

Why Is Business Tourism Regaining Momentum as Global Enterprises Recalibrate Face-to-Face Engagement Strategies?
Business tourism—encompassing corporate travel for meetings, incentives, conferences, and exhibitions (MICE)—is regaining strategic importance as global markets recover from pandemic-related disruptions and enterprises reaffirm the value of in-person interaction. Despite the widespread adoption of virtual collaboration, face-to-face meetings remain essential for relationship-building, deal negotiation, knowledge exchange, and high-impact brand engagement. As companies adapt to hybrid work models and decentralized operations, business travel is being selectively prioritized for activities that drive revenue, innovation, and strategic alignment.

Key growth drivers include the resurgence of international conferences, cross-border trade summits, and corporate incentive programs, as well as the return of major industry expos across sectors such as technology, pharmaceuticals, and manufacturing. With organizations placing greater emphasis on curated, outcome-driven travel, business tourism is evolving into a more targeted, high-value segment—centered on experience, productivity, and strategic outcomes rather than frequency alone.

How Are Sustainability, Digitalization, and Experiential Travel Shaping Business Tourism Models?
Sustainability is emerging as a core consideration in business travel planning, with enterprises adopting carbon budgeting, green hotel partnerships, and low-impact travel policies to align with ESG goals. Event organizers and travel management companies are incorporating eco-certifications, waste reduction strategies, and carbon offset programs into their offerings—making environmental performance a differentiator in MICE destination selection.

Digitalization is transforming pre-travel planning, booking, and in-destination engagement through mobile apps, real-time data integration, contactless check-ins, and virtual attendee options. Hybrid event models combining physical and digital participation are expanding access while reducing logistical overhead. Simultaneously, the rise of “bleisure” travel—where business travelers extend stays for leisure purposes—is prompting destinations and hotels to offer lifestyle-enhancing amenities, cultural experiences, and wellness services tailored to the dual-purpose traveler.

Where Is Demand for Business Tourism Rebounding and Which Segments Are Leading Recovery?
North America and Europe remain dominant business tourism hubs, benefiting from robust infrastructure, world-class conference venues, and well-established corporate travel ecosystems. The U.S., Germany, the U.K., France, and the Netherlands are key destinations for international conventions and trade shows. Asia-Pacific is seeing strong recovery momentum, led by Singapore, Japan, South Korea, China, and Australia, where regional business corridors, government-backed MICE programs, and growing investment flows are revitalizing travel demand.

Leading segments include multinational corporate travel, pharmaceutical and tech industry conferences, financial roadshows, and high-level public-private forums. Incentive travel is also regaining strength, particularly in industries with performance-based rewards models. Additionally, destination management organizations (DMOs) and business event bureaus are actively repositioning their cities with sector-specific appeal—targeting life sciences, digital innovation, and renewable energy industries for business event hosting.

What Is Fueling the Global Growth of the Business Tourism Market?
The global business tourism market is being driven by the resumption of economic activity, growing appetite for experiential engagement, and the strategic repositioning of travel as a business-critical enabler rather than a discretionary expense. As enterprises seek to reinforce global client relationships, attract top talent, and accelerate knowledge transfer, high-impact travel and in-person networking are regaining traction. Government initiatives to boost MICE tourism, investments in smart venues and infrastructure, and public-private partnerships are further supporting market recovery.

Travel providers and event organizers are diversifying offerings with flexible packages, wellness-integrated itineraries, and tech-enabled experiences that cater to the evolving preferences of post-pandemic business travelers. As the industry balances resilience, environmental impact, and ROI, a defining question emerges: Can the business tourism ecosystem deliver sustainable, digitally integrated, and value-driven experiences—while aligning with evolving corporate priorities and the broader transformation of global work and mobility patterns?

SCOPE OF STUDY:

The report analyzes the Business Tourism market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Service (Transport, Food & Lodging, Recreation Activity, Other Services); Traveler Type (Solo, Groups); End-User (Corporate, Government)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 42 Featured) -

• Adelman Travel Group
• American Express Global Business Travel (Amex GBT)
• BCD Travel
• Booking Holdings Inc.
• Carlson Wagonlit Travel (CWT)
• Corporate Travel Management (CTM)
• Egencia
• Expedia Group
• FCM Travel Solutions
• Flight Centre Travel Group
• Hogg Robinson Group (HRG)
• Omega World Travel
• Sabre Corporation
• SAP Concur
• Thomas Cook Group
• Travel and Transport
• Travel Leaders Group
• TravelPerk
• TUI Group
• Wexas Travel

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TARIFF IMPACT FACTOR
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