International business travel market to reach $2.1 trillion by 2031, grow at 9.5%CAGR : Allied Market Research

According to Allied Market Research, the global business travel market size was valued at $689.70 billion in 2021, and is estimated to reach $2.1 trillion by 2031, growing at a CAGR of 9.5% from 2022 to 2031. The trending factors responsible for fueling the business travel market include bleisure travel (business + leisure), IoT (internet of things), development of smart hotels, virtual reality for hotel bookings, and personalisation.