New York, Nov. 19, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Business Travel Industry" - https://www.reportlinker.com/p05899164/?utm_source=GNW
5% in the year 2021 and thereafter recover to reach US$829.5 billion by the year 2027, trailing a post COVID-19 CAGR of 3% over the analysis period 2020 through 2027. The travel industry has been one of the worst hit sectors due to the COVID-19 outbreak, with lockdowns, travel bans, restrictions and quarantines denting revenue generation for the industry. The impact of COVID-19 pandemic on business travel has been particularly severe. Business travel almost came to a standstill during the pandemic, forcing many companies to hold virtual meetings due to stay-at-home restrictions. With over 90% of the global population in countries or territories with some form of travel restrictions and lockdowns, many international events and conferences have been cancelled or postponed while some essential meetings are being scheduled using virtual platforms. Many companies have witnessed the benefits of digital solutions at their disposal for effective remote working. This reduces not only energy consumption but also maintenance costs and travel emissions. Hence some businesses may continue the trend of remote working even after the travel restrictions are lifted. In April 2020, during the early days of global COVID-19 spread, 98% of the member countries of GBTA (Global Business Travel Association) cancelled their international business tours and 92% of them halted all or most of their domestic trips.
Business travel can be defined as domestic or international travel undertaken by employees to attend various business-related activities including meetings, product launches, trade shows and marketing of companies to further improve business prospects. Comprising work, entertainment, accommodation and transportation, business travel is among the major contributors to the global economy. Employees of multinational organizations often travel to destinations in various countries for business and marketing purposes. There are a variety of agencies and travel companies in the market addressing the needs of the business travel industry, which compete based on safety measures, service portfolios, government licensing and pricing. Growth in business travel has provided organizations the option of managing travel requirements of their employees using travel programs, services and online self-booking tools offered by travel management corporations. Corporate business travels until now was a vital part of a company’s operations. However, in the future, in-person meetings will be greatly reduced and most of the work will be managed from homes using advanced tools. Various new tools that are capable of replacing physical meetings is evolving rapidly.
A key reason for business travel is for meeting suppliers and customers and video calls show strong potential to replace the in-person meetings, resulting in less business travels for the sales persons. Business travels that are meant for trainings and other learning activities will also be reduced and e-learning will witness rapid adoption rates. Another major travel reason is to motivate and reward customers or employees which can also be carried out remotely. Employees of most companies have already become familiar with virtual meetings due to the pandemic, thus reducing significance of face-to-face meetings. Many businesses have adapted to the new trend in a much better way and will continue to retain these changes. The continuing spread of COVID-19 infections worldwide is expected mute all face-to-face global gatherings in the year 2020. The rising popularity and success of cloud videoconferencing services is expected to permanently kill all non-essential business travel. Cross-border travel is set to become complicated & confusing with regulations like health passports expected to disincentives corporate travel plans. The only opportunities for growth will come from life sciences companies were business travel is necessary for training. In the post COVID-19 period, millennials born after the mid-90s who are likely to rule the workplace will significantly influence dynamics of whatever is left of the travel industry. Also known as Gen Z, Millennials are always connected to smartphones and social media, seek fast Wi-Fi and use hash tags to describe objects and feelings. Business travel will be highly influenced by them over the next decade with their desire to be in a certain place only at a certain time. The travel sector will facilitate this need by using multiple options IoT has to offer. With this as a goal, key travel players are using the digital platform to make the right offer to the right customer at the right time. IoT will make this possible with personalization of all services connected to the travel industry. Internet of things (IoT) & artificial intelligence (AI) will increasingly be introduced in the travel, hotel and airline sectors to improve customer satisfaction. AI and ML can also differentiate between junior and senior level executives and suggest booking options based on the eligibility as well as the personal preferences of the user. In addition, AI and ML can simplify expense reports as employees will need to just upload photos of receipts as opposed to filling out stipulated forms. The machine would read the photos and update the expenses, thus simplifying the process as well as negating the chances for errors. The process also simplifies audit for the company. In addition to the benefits for regular issues, AI and ML can also provide additional benefits for the employee as well as the company. Employee safety when traveling is the company’s responsibility. As such, AI and ML can provide timely updates for advisories related to travel, health, environmental, political and social situations at the destination, ensuring security for the employee. For instance, AI and ML can alert the company and the employee to potential issues related to natural calamities or safety related information such as political unrest or terrorist attacks.
Competitors identified in this market include, among others,
- Airbnb Inc.
- American Express Company
- BCD Travel
- BCD Travel Services B.V.
- Booking Holdings Inc.
- Carlson Wagonlit Travel (CWT)
- Expedia, Inc.
- Fareportal, Inc.
- Flight Centre Travel Group Ltd.
- Hogg Robinson Group Plc
- Wexas Limited
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I. INTRODUCTION, METHODOLOGY & REPORT SCOPE I-1
II. EXECUTIVE SUMMARY II-1
1. MARKET OVERVIEW II-1
Impact of COVID-19 Outbreak and Looming Global Recession II-1
Exhibit 1: COVID-19 Impact on Travel & Tourism Industry: Growth
Rate (%) of Industry Revenues in Select Countries for 2020 Vs
2019 II-2
Digitalization Augurs Well for the Tourism Industry II-3
Impact of COVID-19 on Business Travel in Life Sciences Sector II-3
Pandemic to Transform Future Trends in the Business Travel
Industry II-3
Business Travel Evolves into Multi-Faceted Endeavor II-4
Global Market Prospects & Outlook II-5
Exhibit 2: Major Purposes of Business Trips II-7
Competition II-7
Startups Disrupt the Business Travel Market II-7
World Brands II-8
Recent Market Activity II-14
2. FOCUS ON SELECT PLAYERS II-17
3. MARKET TRENDS & DRIVERS II-18
Trends in Travel & Tourism: An Indication of Dynamics in
Business Travel Market II-18
Exhibit 3: COVID-19 Impact on Tourism Industry: % Change in
International Tourist Arrivals by Region for 2019 and Q1 2020 II-19
Preference for Communications Technologies & Video Conferencing
Amidst COVID-19 Outbreak Over Travel Affects Business Travel II-19
Exhibit 4: Global Downloads (Million) of Select Video Chat Apps
for iOS and Android for Jan-2020 to Mar-2020 II-21
Exhibit 5: Average Growth (in %) in Video Meetings by Meeting
Size for Feb 2020 Vs May 2020 II-21
Web Conferencing Emerges as an Apt Alternative to Business Travel II-22
Mixing Recreation with Business: The New Mantra in Business Travel II-22
Exhibit 6: Bleisure as % of Total Business Trips by Select
Countries: 2019 II-23
Exhibit 7: Average Number of Bleisure Trips Per Year by Select
Countries for 2019 II-24
Exhibit 8: Original Purpose of Bleisure Travel: % of Trips
Converted to Bleisure Trips by Purpose of Original Trip for
2019 II-24
Exhibit 9: Industries with Most Bleisure Travelers: % of
Bleisure Travelers by Industry II-25
Exhibit 10: Major Reasons for Choosing a Bleisure Destination: %
of Bleisure Travelers Citing a Factor as a Reason for
Preferring a Destination among US Bleisure Travelers II-25
Pandemic Accelerates Event Planning Industry?s Transition
towards Virtual Platforms, Affects Business Travels II-26
Major Events Cancelled or Deferred or Conducted Virtually due
to COVID-19 II-27
Exhibit 11: COVID-19 Effect on Global Event Activities:
Estimated Percentage Change in Event Revenues for 1H 2020 over
1H 2019 II-27
Trade Volumes and Trade Wars Closely Correlated to Spending on
Business Travel II-28
Exhibit 12: Month-on-Month Growth in Global Trade: Jan 2019-
April2020 II-29
Notable Trends in the Business Travel Industry II-30
New Services Emerge as Competitors to Travel Management Companies II-30
Using Business Travel to Enhance Employee Satisfaction II-30
Bleisure Emerges as a Popular Business Travel Trend II-30
Focus on Enhancing Customer Service II-30
Rising Importance of Personalized Travel II-31
Sustainability Emerges as a Notable Trend in Business Travel II-31
Technological Advancements Augur Well for the Market II-32
Rising Importance of Artificial and Machine Learning in
Business Travel II-34
Mobile Devices Become Integral to Business Travel Industry II-34
Exhibit 13: Smartphone Penetration Rate as Share of Total
Population: 2016-2021E II-35
Downturn in Business Travel Dents Airline Revenues II-36
Exhibit 14: COVID-19 Pandemic Dents Airline Revenues:
Commercial Airline Revenue Growth (in %) for 2010-2020E II-37
Exhibit 15: Air Travel a Significant Component of Business
Travel Spending: Percentage Breakdown of Average Corporate
Trip Budget by Segment for 2019 II-38
Exhibit 16: Major Concerns of Business Travelers: % of Business
Travelers Citing the Concern Impeding Corporate Travel II-38
Growth of SMEs Bodes Well for the Busines Travel Industry II-39
Airport Retailers Target Business Travelers II-39
Exhibit 17: Global Airport Retail Market Size (in US$ Billion)
for 2019, 2022 & 2024 II-40
Digitalization of Travel Payments & Guest Data Supports
Business Travel Market II-40
Challenges Facing Business Travel Market II-41
Data Breaches and Fraud Impact Business Travel II-41
4. GLOBAL MARKET PERSPECTIVE II-42
Table 1: World Current & Future Analysis for Business Travel by
Geographic Region - USA, Canada, Japan, China, Europe,
Asia-Pacific, Latin America, Middle East and Africa Markets -
Independent Analysis of Annual Sales in US$ Million for Years
2020 through 2027 II-42
Table 2: World Historic Review for Business Travel by
Geographic Region - USA, Canada, Japan, China, Europe,
Asia-Pacific, Latin America, Middle East and Africa Markets -
Independent Analysis of Annual Sales in US$ Million for Years
2012 through 2019 II-43
Table 3: World 15-Year Perspective for Business Travel by
Geographic Region - Percentage Breakdown of Value Sales for
USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America,
Middle East and Africa Markets for Years 2012, 2020 & 2027 II-44
Table 4: World Current & Future Analysis for Food & Lodging by
Geographic Region - USA, Canada, Japan, China, Europe,
Asia-Pacific, Latin America, Middle East and Africa Markets -
Independent Analysis of Annual Sales in US$ Million for Years
2020 through 2027 II-45
Table 5: World Historic Review for Food & Lodging by Geographic
Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin
America, Middle East and Africa Markets - Independent Analysis
of Annual Sales in US$ Million for Years 2012 through 2019 II-46
Table 6: World 15-Year Perspective for Food & Lodging by
Geographic Region - Percentage Breakdown of Value Sales for
USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America,
Middle East and Africa for Years 2012, 2020 & 2027 II-47
Table 7: World Current & Future Analysis for Recreation by
Geographic Region - USA, Canada, Japan, China, Europe,
Asia-Pacific, Latin America, Middle East and Africa Markets -
Independent Analysis of Annual Sales in US$ Million for Years
2020 through 2027 II-48
Table 8: World Historic Review for Recreation by Geographic
Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin
America, Middle East and Africa Markets - Independent Analysis
of Annual Sales in US$ Million for Years 2012 through 2019 II-49
Table 9: World 15-Year Perspective for Recreation by Geographic
Region - Percentage Breakdown of Value Sales for USA, Canada,
Japan, China, Europe, Asia-Pacific, Latin America, Middle East
and Africa for Years 2012, 2020 & 2027 II-50
Table 10: World Current & Future Analysis for Transportation by
Geographic Region - USA, Canada, Japan, China, Europe,
Asia-Pacific, Latin America, Middle East and Africa Markets -
Independent Analysis of Annual Sales in US$ Million for Years
2020 through 2027 II-51
Table 11: World Historic Review for Transportation by
Geographic Region - USA, Canada, Japan, China, Europe,
Asia-Pacific, Latin America, Middle East and Africa Markets -
Independent Analysis of Annual Sales in US$ Million for Years
2012 through 2019 II-52
Table 12: World 15-Year Perspective for Transportation by
Geographic Region - Percentage Breakdown of Value Sales for
USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America,
Middle East and Africa for Years 2012, 2020 & 2027 II-53
Table 13: World Current & Future Analysis for Group by
Geographic Region - USA, Canada, Japan, China, Europe,
Asia-Pacific, Latin America, Middle East and Africa Markets -
Independent Analysis of Annual Sales in US$ Million for Years
2020 through 2027 II-54
Table 14: World Historic Review for Group by Geographic Region -
USA, Canada, Japan, China, Europe, Asia-Pacific, Latin
America, Middle East and Africa Markets - Independent Analysis
of Annual Sales in US$ Million for Years 2012 through 2019 II-55
Table 15: World 15-Year Perspective for Group by Geographic
Region - Percentage Breakdown of Value Sales for USA, Canada,
Japan, China, Europe, Asia-Pacific, Latin America, Middle East
and Africa for Years 2012, 2020 & 2027 II-56
Table 16: World Current & Future Analysis for Solo by
Geographic Region - USA, Canada, Japan, China, Europe,
Asia-Pacific, Latin America, Middle East and Africa Markets -
Independent Analysis of Annual Sales in US$ Million for Years
2020 through 2027 II-57
Table 17: World Historic Review for Solo by Geographic Region -
USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America,
Middle East and Africa Markets - Independent Analysis of Annual
Sales in US$ Million for Years 2012 through 2019 II-58
Table 18: World 15-Year Perspective for Solo by Geographic
Region - Percentage Breakdown of Value Sales for USA, Canada,
Japan, China, Europe, Asia-Pacific, Latin America, Middle East
and Africa for Years 2012, 2020 & 2027 II-59
Table 19: World Current & Future Analysis for Corporate by
Geographic Region - USA, Canada, Japan, China, Europe,
Asia-Pacific, Latin America, Middle East and Africa Markets -
Independent Analysis of Annual Sales in US$ Million for Years
2020 through 2027 II-60
Table 20: World Historic Review for Corporate by Geographic
Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin
America, Middle East and Africa Markets - Independent Analysis
of Annual Sales in US$ Million for Years 2012 through 2019 II-61
Table 21: World 15-Year Perspective for Corporate by Geographic
Region - Percentage Breakdown of Value Sales for USA, Canada,
Japan, China, Europe, Asia-Pacific, Latin America, Middle East
and Africa for Years 2012, 2020 & 2027 II-62
Table 22: World Current & Future Analysis for Government by
Geographic Region - USA, Canada, Japan, China, Europe,
Asia-Pacific, Latin America, Middle East and Africa Markets -
Independent Analysis of Annual Sales in US$ Million for Years
2020 through 2027 II-63
Table 23: World Historic Review for Government by Geographic
Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin
America, Middle East and Africa Markets - Independent Analysis
of Annual Sales in US$ Million for Years 2012 through 2019 II-64
Table 24: World 15-Year Perspective for Government by
Geographic Region - Percentage Breakdown of Value Sales for
USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America,
Middle East and Africa for Years 2012, 2020 & 2027 II-65
III. MARKET ANALYSIS III-1
GEOGRAPHIC MARKET ANALYSIS III-1
UNITED STATES III-1
US Travel & Tourism Industry Hit Hard by the COVID-19 Pandemic III-1
Exhibit 18: US Travel Industry: Percentage Breakdown of
Spending by Business Travel and Leisure Spending for 2019 III-2
Market Analytics III-3
Table 25: USA Current & Future Analysis for Business Travel by
Service - Food & Lodging, Recreation and Transportation -
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 III-3
Table 26: USA Historic Review for Business Travel by Service -
Food & Lodging, Recreation and Transportation Markets -
Independent Analysis of Annual Sales in US$ Million for Years
2012 through 2019 III-4
Table 27: USA 15-Year Perspective for Business Travel by
Service - Percentage Breakdown of Value Sales for Food &
Lodging, Recreation and Transportation for the Years 2012,
2020 & 2027 III-5
Table 28: USA Current & Future Analysis for Business Travel by
Traveler - Group and Solo - Independent Analysis of Annual
Sales in US$ Million for the Years 2020 through 2027 III-6
Table 29: USA Historic Review for Business Travel by Traveler -
Group and Solo Markets - Independent Analysis of Annual Sales
in US$ Million for Years 2012 through 2019 III-7
Table 30: USA 15-Year Perspective for Business Travel by
Traveler - Percentage Breakdown of Value Sales for Group and
Solo for the Years 2012, 2020 & 2027 III-8
Table 31: USA Current & Future Analysis for Business Travel by
End-Use - Corporate and Government - Independent Analysis of
Annual Sales in US$ Million for the Years 2020 through 2027 III-9
Table 32: USA Historic Review for Business Travel by End-Use -
Corporate and Government Markets - Independent Analysis of
Annual Sales in US$ Million for Years 2012 through 2019 III-10
Table 33: USA 15-Year Perspective for Business Travel by
End-Use - Percentage Breakdown of Value Sales for Corporate and
Government for the Years 2012, 2020 & 2027 III-11
CANADA III-12
Table 34: Canada Current & Future Analysis for Business Travel
by Service - Food & Lodging, Recreation and Transportation -
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 III-12
Table 35: Canada Historic Review for Business Travel by Service -
Food & Lodging, Recreation and Transportation Markets -
Independent Analysis of Annual Sales in US$ Million for Years
2012 through 2019 III-13
Table 36: Canada 15-Year Perspective for Business Travel by
Service - Percentage Breakdown of Value Sales for Food &
Lodging, Recreation and Transportation for the Years 2012,
2020 & 2027 III-14
Table 37: Canada Current & Future Analysis for Business Travel
by Traveler - Group and Solo - Independent Analysis of Annual
Sales in US$ Million for the Years 2020 through 2027 III-15
Table 38: Canada Historic Review for Business Travel by
Traveler - Group and Solo Markets - Independent Analysis of
Annual Sales in US$ Million for Years 2012 through 2019 III-16
Table 39: Canada 15-Year Perspective for Business Travel by
Traveler - Percentage Breakdown of Value Sales for Group and
Solo for the Years 2012, 2020 & 2027 III-17
Table 40: Canada Current & Future Analysis for Business Travel
by End-Use - Corporate and Government - Independent Analysis of
Annual Sales in US$ Million for the Years 2020 through 2027 III-18
Table 41: Canada Historic Review for Business Travel by End-Use -
Corporate and Government Markets - Independent Analysis of
Annual Sales in US$ Million for Years 2012 through 2019 III-19
Table 42: Canada 15-Year Perspective for Business Travel by
End-Use - Percentage Breakdown of Value Sales for Corporate and
Government for the Years 2012, 2020 & 2027 III-20
JAPAN III-21
Table 43: Japan Current & Future Analysis for Business Travel
by Service - Food & Lodging, Recreation and Transportation -
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 III-21
Table 44: Japan Historic Review for Business Travel by Service -
Food & Lodging, Recreation and Transportation Markets -
Independent Analysis of Annual Sales in US$ Million for Years
2012 through 2019 III-22
Table 45: Japan 15-Year Perspective for Business Travel by
Service - Percentage Breakdown of Value Sales for Food &
Lodging, Recreation and Transportation for the Years 2012,
2020 & 2027 III-23
Table 46: Japan Current & Future Analysis for Business Travel
by Traveler - Group and Solo - Independent Analysis of Annual
Sales in US$ Million for the Years 2020 through 2027 III-24
Table 47: Japan Historic Review for Business Travel by Traveler -
Group and Solo Markets - Independent Analysis of Annual Sales
in US$ Million for Years 2012 through 2019 III-25
Table 48: Japan 15-Year Perspective for Business Travel by
Traveler - Percentage Breakdown of Value Sales for Group and
Solo for the Years 2012, 2020 & 2027 III-26
Table 49: Japan Current & Future Analysis for Business Travel
by End-Use - Corporate and Government - Independent Analysis of
Annual Sales in US$ Million for the Years 2020 through 2027 III-27
Table 50: Japan Historic Review for Business Travel by End-Use -
Corporate and Government Markets - Independent Analysis of
Annual Sales in US$ Million for Years 2012 through 2019 III-28
Table 51: Japan 15-Year Perspective for Business Travel by
End-Use - Percentage Breakdown of Value Sales for Corporate and
Government for the Years 2012, 2020 & 2027 III-29
CHINA III-30
COVID-19 Impact on the Chinese Travel Industry III-30
Market Analytics III-31
Table 52: China Current & Future Analysis for Business Travel
by Service - Food & Lodging, Recreation and Transportation -
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 III-31
Table 53: China Historic Review for Business Travel by Service -
Food & Lodging, Recreation and Transportation Markets -
Independent Analysis of Annual Sales in US$ Million for Years
2012 through 2019 III-32
Table 54: China 15-Year Perspective for Business Travel by
Service - Percentage Breakdown of Value Sales for Food &
Lodging, Recreation and Transportation for the Years 2012,
2020 & 2027 III-33
Table 55: China Current & Future Analysis for Business Travel
by Traveler - Group and Solo - Independent Analysis of Annual
Sales in US$ Million for the Years 2020 through 2027 III-34
Table 56: China Historic Review for Business Travel by Traveler -
Group and Solo Markets - Independent Analysis of Annual Sales
in US$ Million for Years 2012 through 2019 III-35
Table 57: China 15-Year Perspective for Business Travel by
Traveler - Percentage Breakdown of Value Sales for Group and
Solo for the Years 2012, 2020 & 2027 III-36
Table 58: China Current & Future Analysis for Business Travel
by End-Use - Corporate and Government - Independent Analysis of
Annual Sales in US$ Million for the Years 2020 through 2027 III-37
Table 59: China Historic Review for Business Travel by End-Use -
Corporate and Government Markets - Independent Analysis of
Annual Sales in US$ Million for Years 2012 through 2019 III-38
Table 60: China 15-Year Perspective for Business Travel by
End-Use - Percentage Breakdown of Value Sales for Corporate and
Government for the Years 2012, 2020 & 2027 III-39
EUROPE III-40
COVID-19 Crisis Impacts European Travel Industry III-40
Market Analytics III-41
Table 61: Europe Current & Future Analysis for Business Travel
by Geographic Region - France, Germany, Italy, UK, Spain,
Russia and Rest of Europe Markets - Independent Analysis of
Annual Sales in US$ Million for Years 2020 through 2027 III-41
Table 62: Europe Historic Review for Business Travel by
Geographic Region - France, Germany, Italy, UK, Spain, Russia
and Rest of Europe Markets - Independent Analysis of Annual
Sales in US$ Million for Years 2012 through 2019 III-42
Table 63: Europe 15-Year Perspective for Business Travel by
Geographic Region - Percentage Breakdown of Value Sales for
France, Germany, Italy, UK, Spain, Russia and Rest of Europe
Markets for Years 2012, 2020 & 2027 III-43
Table 64: Europe Current & Future Analysis for Business Travel
by Service - Food & Lodging, Recreation and Transportation -
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 III-44
Table 65: Europe Historic Review for Business Travel by Service -
Food & Lodging, Recreation and Transportation Markets -
Independent Analysis of Annual Sales in US$ Million for Years
2012 through 2019 III-45
Table 66: Europe 15-Year Perspective for Business Travel by
Service - Percentage Breakdown of Value Sales for Food &
Lodging, Recreation and Transportation for the Years 2012,
2020 & 2027 III-46
Table 67: Europe Current & Future Analysis for Business Travel
by Traveler - Group and Solo - Independent Analysis of Annual
Sales in US$ Million for the Years 2020 through 2027 III-47
Table 68: Europe Historic Review for Business Travel by
Traveler - Group and Solo Markets - Independent Analysis of
Annual Sales in US$ Million for Years 2012 through 2019 III-48
Table 69: Europe 15-Year Perspective for Business Travel by
Traveler - Percentage Breakdown of Value Sales for Group and
Solo for the Years 2012, 2020 & 2027 III-49
Table 70: Europe Current & Future Analysis for Business Travel
by End-Use - Corporate and Government - Independent Analysis of
Annual Sales in US$ Million for the Years 2020 through 2027 III-50
Table 71: Europe Historic Review for Business Travel by End-Use -
Corporate and Government Markets - Independent Analysis of
Annual Sales in US$ Million for Years 2012 through 2019 III-51
Table 72: Europe 15-Year Perspective for Business Travel by
End-Use - Percentage Breakdown of Value Sales for Corporate and
Government for the Years 2012, 2020 & 2027 III-52
FRANCE III-53
Table 73: France Current & Future Analysis for Business Travel
by Service - Food & Lodging, Recreation and Transportation -
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 III-53
Table 74: France Historic Review for Business Travel by Service -
Food & Lodging, Recreation and Transportation Markets -
Independent Analysis of Annual Sales in US$ Million for Years
2012 through 2019 III-54
Table 75: France 15-Year Perspective for Business Travel by
Service - Percentage Breakdown of Value Sales for Food &
Lodging, Recreation and Transportation for the Years 2012,
2020 & 2027 III-55
Table 76: France Current & Future Analysis for Business Travel
by Traveler - Group and Solo - Independent Analysis of Annual
Sales in US$ Million for the Years 2020 through 2027 III-56
Table 77: France Historic Review for Business Travel by
Traveler - Group and Solo Markets - Independent Analysis of
Annual Sales in US$ Million for Years 2012 through 2019 III-57
Table 78: France 15-Year Perspective for Business Travel by
Traveler - Percentage Breakdown of Value Sales for Group and
Solo for the Years 2012, 2020 & 2027 III-58
Table 79: France Current & Future Analysis for Business Travel
by End-Use - Corporate and Government - Independent Analysis of
Annual Sales in US$ Million for the Years 2020 through 2027 III-59
Table 80: France Historic Review for Business Travel by End-Use -
Corporate and Government Markets - Independent Analysis of
Annual Sales in US$ Million for Years 2012 through 2019 III-60
Table 81: France 15-Year Perspective for Business Travel by
End-Use - Percentage Breakdown of Value Sales for Corporate and
Government for the Years 2012, 2020 & 2027 III-61
GERMANY III-62
Table 82: Germany Current & Future Analysis for Business Travel
by Service - Food & Lodging, Recreation and Transportation -
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 III-62
Table 83: Germany Historic Review for Business Travel by
Service - Food & Lodging, Recreation and Transportation Markets -
Independent Analysis of Annual Sales in US$ Million for Years
2012 through 2019 III-63
Table 84: Germany 15-Year Perspective for Business Travel by
Service - Percentage Breakdown of Value Sales for Food &
Lodging, Recreation and Transportation for the Years 2012,
2020 & 2027 III-64
Table 85: Germany Current & Future Analysis for Business Travel
by Traveler - Group and Solo - Independent Analysis of Annual
Sales in US$ Million for the Years 2020 through 2027 III-65
Table 86: Germany Historic Review for Business Travel by
Traveler - Group and Solo Markets - Independent Analysis of
Annual Sales in US$ Million for Years 2012 through 2019 III-66
Table 87: Germany 15-Year Perspective for Business Travel by
Traveler - Percentage Breakdown of Value Sales for Group and
Solo for the Years 2012, 2020 & 2027 III-67
Table 88: Germany Current & Future Analysis for Business Travel
by End-Use - Corporate and Government - Independent Analysis of
Annual Sales in US$ Million for the Years 2020 through 2027 III-68
Table 89: Germany Historic Review for Business Travel by
End-Use - Corporate and Government Markets - Independent
Analysis of Annual Sales in US$ Million for Years 2012 through
2019 III-69
Table 90: Germany 15-Year Perspective for Business Travel by
End-Use - Percentage Breakdown of Value Sales for Corporate and
Government for the Years 2012, 2020 & 2027 III-70
ITALY III-71
Table 91: Italy Current & Future Analysis for Business Travel
by Service - Food & Lodging, Recreation and Transportation -
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 III-71
Table 92: Italy Historic Review for Business Travel by Service -
Food & Lodging, Recreation and Transportation Markets -
Independent Analysis of Annual Sales in US$ Million for Years
2012 through 2019 III-72
Table 93: Italy 15-Year Perspective for Business Travel by
Service - Percentage Breakdown of Value Sales for Food &
Lodging, Recreation and Transportation for the Years 2012,
2020 & 2027 III-73
Table 94: Italy Current & Future Analysis for Business Travel
by Traveler - Group and Solo - Independent Analysis of Annual
Sales in US$ Million for the Years 2020 through 2027 III-74
Table 95: Italy Historic Review for Business Travel by Traveler -
Group and Solo Markets - Independent Analysis of Annual Sales
in US$ Million for Years 2012 through 2019 III-75
Table 96: Italy 15-Year Perspective for Business Travel by
Traveler - Percentage Breakdown of Value Sales for Group and
Solo for the Years 2012, 2020 & 2027 III-76
Table 97: Italy Current & Future Analysis for Business Travel
by End-Use - Corporate and Government - Independent Analysis of
Annual Sales in US$ Million for the Years 2020 through 2027 III-77
Table 98: Italy Historic Review for Business Travel by End-Use -
Corporate and Government Markets - Independent Analysis of
Annual Sales in US$ Million for Years 2012 through 2019 III-78
Table 99: Italy 15-Year Perspective for Business Travel by
End-Use - Percentage Breakdown of Value Sales for Corporate and
Government for the Years 2012, 2020 & 2027 III-79
UNITED KINGDOM III-80
Table 100: UK Current & Future Analysis for Business Travel by
Service - Food & Lodging, Recreation and Transportation -
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 III-80
Table 101: UK Historic Review for Business Travel by Service -
Food & Lodging, Recreation and Transportation Markets -
Independent Analysis of Annual Sales in US$ Million for Years
2012 through 2019 III-81
Table 102: UK 15-Year Perspective for Business Travel by
Service - Percentage Breakdown of Value Sales for Food &
Lodging, Recreation and Transportation for the Years 2012,
2020 & 2027 III-82
Table 103: UK Current & Future Analysis for Business Travel by
Traveler - Group and Solo - Independent Analysis of Annual
Sales in US$ Million for the Years 2020 through 2027 III-83
Table 104: UK Historic Review for Business Travel by Traveler -
Group and Solo Markets - Independent Analysis of Annual Sales
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