Key Trends in Business Travel: Analysis of Traveller Types, Key Market Trends, Key Destinations, Challenges and Opportunities

Key Trends in Business Travel: Analysis of traveller types, key market trends, key destinations, challenges and opportunities

Summary
This report provides analysis of traveller types and key market trends which are contributing to one of the major segments within tourism currently - business travel. Major and upcoming destinations are assessed, along with growth forecasts to provide valuable insight. Challenges along with opportunities in the industry are explained in relation to industry examples.

The author’s Tourism Insights Report 'Key Trends in Business Travel', looks at the key trends & issues within the growing business travel segment, as well as the opportunities and threats. It also offers an insight into key destinations, traveler groups, and into the strategies of the leading companies.

Scope

• A prime traveler segment other than typical leisure and VFR (visiting friends and relatives) markets is the business traveler. An incredible 217 million international arrivals (15.3%) were solely for business in 2018 while 1.06 billion domestic trips (9.7%) were undertaken for business purposes.
• Accessibility, social awareness, technological developments, visa facilitation and most crucially, connectivity have aided the expansive growth of business travel. Connectivity is the major influencer of this growth.
• Destinations also brand themselves as a ‘MICE’ destination in order to capitalize on the events industry in association with their respective convention and visitor bureaus[6]. Through collaborative operations, subsidies may also be offered in order to attract greater interest to the host location to improve the economy spurring regeneration and regional development.
• Both domestic and outbound business travel trips are forecast to grow rapidly over the next few years according to the author’s datasets. International arrivals solely for business travel will rise by 18.1% by 2022 (from 217million in 2018 to 257million in 2022).
• The combining of business and leisure creating ‘Bleisure’ is an explosive trend for the travel sector.

Reasons to buy

• Gain an insight into the business travel segment
• Understand the key traveler types business travel facilities and hotel companies can look to attract
• Look at the key destinations and why they appeal
• Gain a detailed understanding of the key trends, issues and challenges facing operators in the business travel space.