The global business travel market is evolving into one of the most dynamic sectors of tourism, with estimates showing that it will exceed $2.4 trillion by 2031.
According to the study by Allied Market Research, “Business Travel Market – Global Opportunity Analysis and Industry Forecast 2024–2035”, the industry has not only recovered from the pandemic, but has already entered a new phase of structural transformation.
This trend is also reflected in the figures: from approximately $689.7 billion in 2021, the market reached $1.57 trillion in 2025, and is expected to reach $1.8 trillion in 2026.
The main development factors
At the macroeconomic level, the globalization of businesses remains the main demand factor. As noted in the study, as multinational corporations expand into emerging markets, cross-border travel for client meetings, supply chain management, partnership development, and negotiations becomes operationally necessary.
Meanwhile, the dynamic entry of small and medium-sized enterprises into international markets creates a new layer of demand for corporate travel, which is increasingly being met by digital, subscription-based travel management platforms.
The MICE (Meetings, Incentives, Conferences, Exhibitions) sector is particularly resilient and, after the pandemic, it significantly contributes to maintaining demand for transportation, accommodation and conference facilities. As noted, “these factors create an environment of constantly increasing demand that shows no signs of slowing down until 2031.”
New trends in business travel
At the same time with the development, new trends are being formed that change the nature of business travel.
The first is the establishment of bleisure travel, i.e. the combination of business and leisure travel. According to the study, 74% of business travelers in 2024 combined personal activities with business trips, while by 2025 this percentage is expected to be 62% of travelers who incorporate at least one leisure element into each trip.
This trend directly affects the duration of trips, booking patterns, and business policies, which are required to balance employee satisfaction and duty of care.
The second main trend is the integration of artificial intelligence throughout the entire travel value chain. AI is now used from the booking and itinerary planning stage to predicting disruptions, policy compliance, and evaluating the performance of each trip.
Meanwhile, the use of digital wallets will reach 74% by 2025, confirming the rapid digitalization of the payment ecosystem in the industry.
The third trend is sustainability, which is no longer an optional choice but a necessity. Companies are incorporating carbon monitoring tools, investing in sustainable aviation fuels (SAF), and adopting policies that promote more sustainable travel, in response to regulatory compliance and ESG reporting requirements.
Europe: Steady growth in a mature market with intense competition
Europe is one of the most mature business travel markets worldwide, with a strong presence of large economies such as France, Germany, Italy, and Spain. The area is experiencing steady growth despite geopolitical pressures and increases in transportation and energy costs, and is also characterized by intense competition between destinations and service providers.
In the study’s comparative table, European countries are depicted with annual market development for the period 2023–2035, as well as with growth rate (CAGR) forecasts for the period 2024–2035. Europe remains a key pillar of the global market, while incorporating new trends such as digitalization, process automation, and the integration of sustainability policies.
The shift towards sustainable travel is also becoming particularly important, with companies incorporating carbon emissions monitoring tools and adopting policies that favor more sustainable means of transportation. The European market is adapting to the requirements of ESG criteria, which are now a key factor in decision-making for companies.
Greece: Multi-layered market analysis by industry, service, and type of travel
Greece is included in the study as a distinct market within the European region, with a full record of its development for the period 2023–2035 and a growth rate forecast (CAGR) for the period 2024–2035. Her presence on the European table confirms her participation in the broader ecosystem of business travel.
The analysis of the Greek market is divided into three main dimensions
First, at the level of the activity sector, the market is divided into corporate (business travel) and government (public sector), with full annual registration from 2023 to 2035, as well as the total market size for each year. This breakdown reflects the basic structure of demand in business travel.
Second, the market is analyzed by service, with three main categories: transportation, food & lodging, and recreation. This categorization shows how the total expenditure of business trips is distributed, covering the entire experience of the traveler.
Third, the analysis includes the type of traveler, dividing the market into group and solo travel, with full annual development and total depiction up to 2035.
In all three cases, the data covers the period 2023–2035 and is accompanied by growth predictions (CAGR), while it is presented in monetary values (millions of dollars). Note that the numerical values are not published in the available version of the study, however the market structure is fully depicted.
Greece’s inclusion in all the main tables –by country, by industry, by service, and by type of traveler– shows that the market is systematically monitored within the framework of international forecasts and organically integrates into the European and global dynamics of business travel.
