Asia Pacific Business Travel Market Size, Share, Growth and Industry Trends 2022-2027

The latest report published by IMARC Group, titled “Asia Pacific Business Travel Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The Asia Pacific business travel market size reached US$ 414.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 641.2 Billion by 2027, exhibiting a growth rate (CAGR) of 6% during 2022-2027. Business travel represents a journey that is taken explicitly for work or expanding business operations. Also referred to as corporate travel, it includes various components, such as promoting brands and products, client meetings, trade shows, and employee training and incentives. Business travel is getting immense precedence among organizations in the Asia Pacific region, owing to rapid globalization and increased company activities. As a result, it is taken up by the government and corporate officials across the region. 

COVID-19 Impact Analysis:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Request a Free PDF Sample of the Report: https://www.imarcgroup.com/asia-pacific-business-travel-market/requestsample

Market Trends:

The increasing middle class and stable economic growth in the region are among the primary factors driving the Asia Pacific business travel market. Besides this, the elevating utilization of innovative technology in journey management processes is further augmenting the market growth. Moreover, the emerging trend of B-leisure travel, which integrates business with pleasure while offering recreational activities for improving work efficiency and relieving stress, is also catalyzing the market across the Asia Pacific. Apart from this, the introduction of virtual reality (VR) that provides enhanced, efficient, and personalized customer experiences is acting as another significant growth-inducing factor. Additionally, the rising digitization in the tourism and corporate sectors, coupled with the penetration of the Internet of Things (IoT), has assisted travelers and journey operators in working swiftly and efficiently, which is also stimulating the market growth. In line with this, the escalating number of small and medium enterprises (SMEs) and fast-paced globalization is positively impacting the market in the region. Furthermore, the growing tie-ups of several corporate organizations with the leading enterprise expedition companies to provide customized collaborative spaces and team-building exercises are expected to bolster the Asia Pacific business travel market in the coming years.  

Key Market Segmentation:

The report has segmented the Asia Pacific business travel market on the basis of type, purpose type, expenditure, age group, service type, travel type, end user and country.

Breakup by Type:

  • Managed Business Travel
  • Unmanaged Business Travel

Breakup by Purpose Type:

  • Marketing
  • Internal Meetings
  • Trade Shows
  • Product Launch
  • Others

Breakup by Expenditure:

  • Travel Fare
  • Lodging
  • Dining
  • Others

Breakup by Age Group:

  • Travelers Below 40 Years
  • Travelers Above 40 Years

Breakup by Service Type:

  • Transportation
  • Food and Lodging
  • Recreational Activities
  • Others

Breakup by Travel Type:

  • Group Travel
  • Solo Travel

Breakup by End User:

  • Government
  • Corporate
  • Others

Breakup by Country:

  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others

Competitive Landscape With Key Players:

The competitive landscape of the Asia Pacific business travel market has been studied in the report with the detailed profiles of the key players operating in the market.

Ask Analyst for Customization and Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=3454&flag=C

Key Highlights of the Report:

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact US:
IMARC Group
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Email: sales@imarcgroup.com
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800

Popular posts from this blog

GCC LED Lighting Market Size, Trends, Growth, Forecast & Industry Report 2024-2032

Image
According to IMARC Group, the GCC led lighting market share reached us$ 876.9 million in 2023 . Looking forward, Imarc group expects the market to reach us$ 2,174.9 million by 2032, exhibiting a growth rate (CAGR) of 10.3% during 2024-2032. The report has segmented the market by product type (panel lights, down lights, street lights, and others), application (residential, commercial, industrial, and others), import and domestic manufacturing (imports, domestic manufacturing), public and private sectors (public sector, private sector), outdoor and indoor application (indoor, outdoor), and region. Request to Get the Sample Report: https://www.imarcgroup.com/gcc-led-lighting-market/requestsample What is the LED Lighting Market ? Light Emitting Diode (LED) lighting has emerged as a transformative technology in the field of illumination, revolutionizing the lighting solutions are perceived and utilized. LEDs are semiconductor devices that emit light when an electrical current passes...
Read more

Blood Group Typing Market Size, Key Facts, Dynamics, Segments and Forecast Report 2023-2028

Image
  The new report by Expert Market Research titled, ‘Global  Blood Group Typing Market Size , Trend, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global blood group typing market. It assesses the market based on its segments like offerings, techniques, test types, end-uses, and major regions. Get a Free Sample Report with Table of Contents@   https://www.expertmarketresearch.com/reports/blood-group-typing-market/requestsample The key highlights of the report include: Market Overview 2018-2028 • Historical Market Size (2021):  USD 2 billion • Forecast CAGR (2023-2028):  9.10% • Forecast Market Size (2027):  USD 3.37 billion The market for blood group typing is being driven by the increasing prevalence of chronic diseases, along with the rising demand for blood from various end-users such as hospitals and clinics, research institutes, and blood banks, among others. The increasing number of emergencies and road accidents t...
Read more

Global Civil Engineering Market Size to Grow at a CAGR of 5.2% in the Forecast Period of 2023-2028

Image
The ‘Global   Civil Engineering Market Growth , Size, Share, Trend, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global civil engineering market, assessing the market on the basis of its segments like services, applications, customers, and major regions. The report studies the latest updates in the market, along with their impact across the market. It is also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models. Civil Engineering Market Share, Size, Industry Report, Key Player, Major Segments, and Forecast The key highlights of the report include: Market Overview (2018-2028) • Forecast CAGR (2023-2028):  5.2% Civil engineering provides efficient and reliable assistance in building large structures, ensures environmental safety, facilitates coordination with transportation to manage traffic, and enables the understa...
Read more