Global Corporate Travel Market Size Likely to Grow at a CAGR of 13.5% By 2034

As per the Corporate Travel Market size analysis conducted by CMI Team, the global Corporate Travel market is expected to record a CAGR of 13.5% from 2025 to 2034. In 2025, the market size is projected to reach a valuation of USD 1120 Billion. By 2034, the valuation is anticipated to reach USD 3501 Billion.

Overview

According to industry experts at CMI, Corporate travel is just when people head out for work—meeting clients, sealing deals, exploring new markets, or maybe showing off a new product. The company picks up the tab since it’s all business, not vacation. These trips cover all kinds of things: conferences, training sessions, sales pitches, team offsites, or hammering out contracts. Most companies have rules for all this.

They spell out where one can go, who gets to tag along, which airlines or hotels they’re supposed to use, what class they can book, their daily spending limit, and how they get thei expenses covered. It’s not just about saving money—though that matters—but also making sure things stay fair and people stay safe while they’re travelling.

Key Trends & Drivers

• Expansion of multinational corporation: The expansion of multinational firms is one of the positive aspects for the market growth. As these companies stretch into new countries—looking for fresh markets, resources, and talent—they need their executives on the move more than ever. One can see it everywhere: regional headquarters here, branch offices there, production plants halfway across the world. All this means company leaders and managers are constantly traveling. Additionally, the trend of outsourcing business tasks to other countries, and the demand for executive travel jumps even higher. On top of that, these companies are always diving into mergers, acquisitions, joint ventures, and all sorts of big strategic moves across borders. Thus, the aforementioned factors propels the industry expansion over the forecast period.

• Increasing technology partnership: The increasing technology partnership among players offers a potential opportunity to the industry growth. For instance, in July 2025, Sabre Corporation signed a new multi-year deal to become the main technology partner for Christopherson Business Travel. This partnership brings together Sabre’s strengths in automation, content aggregation, and smart retailing with Christopherson’s forward-thinking approach to travel management. Christopherson, which recently landed the 30th spot on Travel Weekly’s 2025 Power List, keeps setting itself apart with focused growth, solid operations, and a real commitment to client service and technology. The company’s strategy centers on making its operations more consistent, flexible, and efficient, so it can keep up with what corporate clients need. At the heart of these changes is Christopherson’s own Andavo platform, built to give better data access, faster integrations, and a more engaging experience for travelers.

Report Scope

SWOT Analysis

• Strengths: More and more multinational companies want their travel plans handled in a smarter, more organized way. That’s why managed services, policy controls, and analytics stay in demand.

• Weakness: The major weakness in a corporate travel market is a lack of standardized price as the carriers, hotels, and ground transportation firms are finding challenging to set constant price all time.

• Opportunities: The increasing client bases and regional hubs, there are more opportunities to grow managed programs, raise contract values, and make smarter judgments based on data.

• Threats: The trends of virtual meeting pose a major threat to the market.

List of the prominent players in the Corporate Travel Market:

• American Express Global Business Travel
• BCD Travel
• Expedia Group
• Booking Holdings Inc.
• Expedia Group
• Flight Centre Travel Group
• Corporate Travel Management
• Travel Leaders Group
• SAP Concur
• ATPI Ltd.
• TravelPerk
• TripActions
• Omega World Travel
• Radius Travel
• SATGURU TRAVEL AND TOURISM PRIVATE LIMITED
• Amadeus IT Group SA
• International Travel House Ltd.
• Others

The Corporate Travel Market is segmented as follows:

By Type

• Managed Business Travel
• Unmanaged Business Travel

By Purpose

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

By Expenditure

• Travel Fare
• Lodging
• Dining
• Others

By Age Group

• Travelers Below 40 Years
• Travelers Above 40 Years

By Traveler

• Group Travel
• Solo Travel

By Industry

• Government
• Corporate

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America