The business travel market is in for substantial growth driven by increased infrastructural investments and growth in the travel retail market. According to a report published by Allied Market Research, the business travel market will be worth more than US$ 1.6 billion by the year 2023, which represents an annual CAGR of 4.1%. The food and lodging segment will grow simultaneously during this period, while the highest demand by that time will be in the corporate industry segment. Among growth rates, the highest will be for the group traveler segment. Among regions, it is Asia-Pacific which will rule the 2023 market. The top companies dominating this segment will be Expedia, American Express Travel, Airbnb, BCD Travel, Hogg Robinson Group, Flight Centre Travel Group, Wexas Travel, The Priceline Group, Fare portal and Carlson Wagonlit Travel.

Source:https://www.benzinga.com/pressreleases/18/11/r12714762/business-travel-market-to-reach-1-657-bn-globally-by-2023-at-4-1-cagr-

Uploaded Date:21 November 2018