Business Tourism Market Size, Share, Trends & Competitive Analysis By Type: Corporate Meetings, Conferences and Conventions, Incentive Travel, Exhibitions and Trade Fairs By Application: Small and Medium Enterprises, Large Enterprises, Government Organizations By End-Use Industry: By Regions, and Industry Forecast, Global Report 2024-2032

  • Report ID: FDS985
  • Forecast Period: 2023-2030
  • No. of Pages: 150+
  • Industry: Travel and Tourism

The global Business Tourism Market size was valued at USD 901 Billion in 2024 and is projected to expand at a compound annual growth rate (CAGR) of 9.3% during the forecast period, reaching a value of USD 1680 Billion by 2032.

Business Tourism Market research report by Future Data Stats, offers a comprehensive view of the Market's historical data from 2019 to 2022, capturing trends, growth patterns, and key drivers. It establishes 2023 as the base year, analysing the Market landscape, consumer behaviour, competition, and regulations. Additionally, the report presents a well-researched forecast period from 2024 to 2032, leveraging data analysis techniques to project the Market's growth trajectory, emerging opportunities, and anticipated challenges.


Business tourism, often referred to as corporate travel or business travel, involves individuals traveling for professional purposes. This type of travel encompasses a wide range of activities, including attending conferences, meetings, trade shows, and networking events related to one's profession or industry. Business tourism plays a crucial role in the global economy, facilitating connections between businesses, fostering collaborations, and driving innovation. It offers opportunities for professionals to expand their networks, gain industry insights, and explore new markets, ultimately contributing to the growth and development of businesses worldwide.

Business tourism not only benefits individual professionals but also has a significant impact on local economies and tourism sectors. Destinations that attract business travelers often experience increased revenue from accommodation, dining, transportation, and other related services. Moreover, hosting business events can enhance a destination's reputation as a hub for commerce and industry, attracting further investment and tourism. By providing venues and infrastructure tailored to the needs of business travelers, destinations can capitalize on the opportunities presented by this thriving sector, driving economic growth and fostering sustainable development.


Primarily, the continued growth and expansion of multinational corporations and small-to-medium enterprises has increased the demand for meetings, conferences, and events to facilitate collaboration, training, and networking. Moreover, the rising popularity of incentive travel programs offered by companies to reward and motivate their top-performing employees has bolstered the market. Governments worldwide also actively promote business tourism to drive economic development through investments in convention centers, hotels, and transportation infrastructure.

The high costs associated with business travel, including flights, accommodations, and event organization, can limit participation, especially for small businesses. Additionally, the recent COVID-19 pandemic has disrupted the industry, with travel restrictions and social distancing measures forcing many in-person events to be canceled or shifted to virtual formats. Nevertheless, the market presents ample opportunities for growth, as the increasing adoption of hybrid event models that combine virtual and in-person elements, as well as the rising emphasis on sustainable and experiential business travel, are expected to drive future demand.



Corporate meetings serve as pivotal platforms for companies to strategize, collaborate, and innovate. These gatherings foster networking opportunities and facilitate crucial decision-making processes.

Conferences and conventions play a significant role in knowledge dissemination and industry advancement. They bring together experts, thought leaders, and professionals to discuss emerging trends, share insights, and forge partnerships. Such events stimulate intellectual exchange and drive growth within diverse sectors.

Incentive travel programs incentivize and reward employees, fostering motivation, loyalty, and productivity. These initiatives often blend business objectives with leisure experiences, creating memorable moments that inspire and engage participants. Exhibitions and trade fairs provide avenues for businesses to showcase products, services, and innovations, fostering industry connections and driving economic growth.


Small and medium enterprises (SMEs) utilize business tourism as a means to expand networks, explore new markets, and enhance brand visibility. For these companies, participation in events such as conferences and exhibitions serves as strategic avenues for growth and development.

Large enterprises leverage business tourism to strengthen global presence, foster client relationships, and drive innovation. Through corporate meetings and incentive travel programs, these organizations align business objectives with experiential engagement, enhancing employee morale and stakeholder satisfaction.

Government organizations harness the power of business tourism to promote economic development, attract investments, and showcase cultural heritage. By hosting international conferences and conventions, governments facilitate knowledge exchange, diplomatic relations, and cross-border collaborations.


In the IT and telecom sector, business tourism facilitates knowledge sharing, product launches, and networking events essential for innovation and market expansion. Similarly, the healthcare industry leverages conferences and exhibitions to showcase advancements, facilitate collaborations, and address global health challenges.

Manufacturing companies utilize business tourism for trade shows, factory visits, and supply chain conferences, fostering industry connections and driving operational excellence. In the automotive sector, corporate meetings and incentive trips serve as platforms for product demonstrations, dealer interactions, and strategic planning, enhancing market competitiveness.

Banking and finance institutions utilize business tourism for investor summits, financial conferences, and corporate retreats, strengthening client relationships and market positioning. Other industries like education and retail also benefit from business tourism through academic conferences, trade exhibitions, and retail expos.


North America, known for its bustling corporate hubs and technological advancements, leads the market with a strong presence of industry giants and a robust infrastructure for hosting conferences, conventions, and corporate events. Europe, with its rich cultural heritage and diverse landscapes, attracts a significant share of business travelers, particularly for trade fairs, exhibitions, and incentive travel programs.

In the Asia Pacific region, rapid economic growth, coupled with increasing globalization, fuels demand for business tourism, especially in emerging markets like China, India, and Southeast Asia. Latin America offers a blend of business and leisure opportunities, with countries like Brazil and Mexico hosting major international conferences and trade shows. Meanwhile, the Middle East and Africa are witnessing steady growth driven by investments in infrastructure and efforts to position key cities as business tourism destinations.


  • Marriott International
  • Hilton Worldwide Holdings Inc.
  • InterContinental Hotels Group PLC
  • Accor
  • Hyatt Hotels Corporation
  • Wyndham Hotels & Resorts
  • Choice Hotels International Inc.
  • Carlson Rezidor Hotel Group
  • Four Seasons Holdings Inc.
  • Mandarin Oriental International Limited
  • IHG (InterContinental Hotels Group)
  • Hilton Worldwide
  • Marriott International Inc.
  • AccorHotels
  • Starwood Hotels & Resorts Worldwide Inc.
  • Wyndham Hotel Group
  • Best Western International Inc.
  • Carlson Rezidor Hotel Group
  • Hyatt Hotels Corporation
  • Marriott International, Inc.
  • Hilton Worldwide Holdings Inc.
  • InterContinental Hotels Group PLC
  • Accor SA
  • Choice Hotels International Inc.
  • Four Seasons Holdings Inc.

Table of Contents

  1. Executive Summary
  2. Introduction
    2.1. Definition and Scope of Business Tourism
    2.2. Importance of Business Tourism
  3. Market Overview
    3.1. Global Business Tourism Market Size and Trends
    3.2. Key Drivers and Restraints
    3.3. Emerging Trends
  4. Segmentation of Business Tourism Market
    4.1. By Type
    4.1.1. Meetings and Conferences
    4.1.2. Incentive Travel
    4.1.3. Exhibitions and Trade Fairs
    4.2. By End-Use Industry
    4.2.1. Corporate
    4.2.2. Association
    4.2.3. Government
  5. Regional Analysis
    5.1. North America
    5.2. Europe
    5.3. Asia-Pacific
    5.4. Latin America
    5.5. Middle East and Africa
  6. Competitive Landscape
    6.1. Key Players and their Market Share
    6.2. Strategic Initiatives and Partnerships
    6.3. Pricing Analysis
  7. Future Outlook and Conclusion
  8. Appendix and References

Business Tourism Market segmentation:

By Type:

  • Corporate Meetings
  • Conferences and Conventions
  • Incentive Travel
  • Exhibitions and Trade Fairs

By Application:

  • Small and Medium Enterprises
  • Large Enterprises
  • Government Organizations

By End-Use Industry:

  • IT and Telecom
  • Healthcare
  • Manufacturing
  • Automotive
  • Banking and Finance
  • Others (Education, Retail, etc.)

By Geography:

  • North America (USA, Canada, Mexico)
  • Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
  • South America (Brazil, Argentina, Columbia, Rest of South America)
  • Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)   

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This approach helps build a greater market-specific view of size, shape, and industry trends within each industry segment. Various industry trends and real-time developments are factored into identifying key growth factors and the future course of the market. The research proceeds are the results of high-quality data, expert views & analysis, and valuable independent opinions. The research process is designed to deliver a balanced view of the global markets and allows stakeholders to make informed decisions, to attain their highest growth objectives.

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The research methodology of the global market involves extensive primary and secondary research. Primary research includes about 24 hours of interviews and discussions with a wide range of stakeholders that include upstream and downstream participants. Primary research typically is a bulk of our research efforts, coherently supported by extensive secondary research. Over 3000 product literature, industry releases, annual reports, and other such documents of key industry participants have been reviewed to obtain a better market understanding and gain enhanced competitive intelligence. In addition, authentic industry journals, trade associations’ releases, and government websites have also been reviewed to generate high-value industry insights.

Primary Research:

Primary Research


Desk Research


Company Analysis


•       Identify key opinion leaders

•       Questionnaire design

•       In-depth Interviews

•       Coverage across the value chain


•       Company Website

•       Company Annual Reports

•       Paid Databases

•       Financial Reports


•       Market Participants

•       Key Strengths

•       Product Portfolio

•       Mapping as per Value Chain

•       Key focus segment


Primary research efforts include reaching out to participants through emails, telephonic conversations, referrals, and professional corporate relations with various companies that make way for greater flexibility in reaching out to industry participants and commentators for interviews and discussions.

The aforementioned helps to:

  • Validate and improve data quality and strengthen the research proceeds
  • Develop a market understanding and expertise
  • Supply authentic information about the market size, share, growth, and forecasts

The primary research interview and discussion panels comprise experienced industry personnel.

These participants include, but are not limited to:

  • Chief executives and VPs of leading corporations specific to an industry
  • Product and sales managers or country heads; channel partners & top-level distributors; banking, investments, and valuation experts
  • Key opinion leaders (KOLs)

Secondary Research:

A broad array of industry sources for the secondary research typically includes, but is not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor  presentations for a competitive scenario and shape of the industry
  • Patent and regulatory databases to understand technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles, web-casts, and other related releases to evaluate the market
  • Internal and external proprietary databases, key market indicators, and relevant press releases for  market estimates and forecasts



•       Top executives of end-use industries

•       C-level executives of the leading Parenteral Nutrition companies

•       Sales manager and regional sales manager of the Parenteral Nutrition companies

•       Industry Consultants

•       Distributors/Suppliers


•       Annual Reports

•       Presentations

•       Company Websites

•       Press Releases

•       News Articles

•       Government Agencies’ Publications

•       Industry Publications

•       Paid Databases


Analyst Tools and Models:



·         Arriving at
Global Market Size

·         Arriving at
Market Size

·         Market Share
of Key Players

·         Key Market Players

·         Key Market Players

·         Market Share
of Key Players

·         Arriving at
Market Size

·         Arriving at
Global Market Size


Business Tourism Market Dynamic Factors


  • Growing globalization drives demand for international business meetings and conferences.
  • Technological advancements facilitate virtual meetings and enhance event management efficiency.
  • Rising disposable incomes and corporate budgets spur incentive travel and corporate retreats.
  • Increasing awareness of sustainability encourages eco-friendly practices in business tourism.


  • Economic uncertainties and geopolitical tensions may impact corporate travel budgets and decision-making.
  • Regulatory challenges and visa restrictions hinder international business travel in certain regions.
  • Infrastructure limitations in emerging markets may impede the hosting of large-scale events.
  • Health and safety concerns, such as pandemics or natural disasters, disrupt travel plans and event attendance.


  • Emerging markets offer untapped potential for business tourism growth, driven by rapid urbanization and economic development.
  • Technological innovations, such as virtual reality and augmented reality, present opportunities for immersive virtual events and hybrid meetings.
  • Collaborative initiatives between governments and private sectors can enhance destination attractiveness and infrastructure for business tourism.
  • Customized experiential offerings, including themed events and cultural experiences, cater to evolving preferences of business travelers.


  • Intense competition among destinations requires differentiation strategies and effective marketing efforts.
  • Adapting to changing consumer preferences and expectations necessitates continuous innovation in event planning and delivery.
  • Balancing economic benefits with environmental and social impacts poses sustainability challenges for the business tourism industry.
  • Disruptions from unforeseen events, such as natural disasters or health crises, highlight the need for robust risk management strategies.

Frequently Asked Questions

The global Business Tourism Market size was valued at USD 901 Billion in 2024 and is projected to expand at a compound annual growth rate (CAGR) of 9.3% during the forecast period, reaching a value of USD 1680 Billion by 2032.

Globalization, technological advancements facilitating virtual meetings, rising corporate budgets for incentive travel, and a growing awareness of sustainability in business practices.

The adoption of virtual and hybrid event formats, personalized and experiential offerings for business travelers, and the integration of sustainability practices into event management.

Regions and countries with robust infrastructure, strong economies, and attractive tourist destinations, such as North America, Europe, and emerging markets in Asia Pacific, are expected to dominate the Business Tourism Market.

Economic uncertainties, regulatory hurdles, infrastructure limitations in some regions, and health and safety concerns. Opportunities lie in tapping into emerging markets, embracing technological innovations, and promoting sustainable practices to meet evolving consumer demands.
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