New Study Unlocks Trends and Projections on Future of Global Business Travel

Global business travel is entering a new phase of sustained growth, according to a new study by Allied Market Research.

According the data, the global business travel sector — valued at USD $689.7 billion in 2021 — is projected to reach USD $2.1 trillion by 2031, signalling a significant rebound. Data from the Global Business Travel Association (GBTA) shows global spending reached USD $1.57 trillion in 2025, with forecasts expected to surpass USD $1.8 trillion in 2026.

The MICE sector (meetings, incentives, conferences and exhibitions) has made a strong comeback, fuelling demand across air, hotel and event infrastructure. Bleisure travel is also firmly in the mainstream. A growing majority of business travellers are adding leisure components to work trips, extending length of stay.

Technology continues to reshape the sector, with AI now integrated across bookings and the rise of digital payments continuing to streamline the traveller journey; digital wallet adoption among business travellers reached 74% in 2025.

Meanwhile, sustainability has become a core requirement. Corporate travel programs are increasingly incorporating carbon tracking, sustainable aviation fuel (SAF) and alternative transport options as part of broader environmental commitments.

North America holds the largest revenue share globally, anchored by the United States. The U.S. market alone is projected to reach USD 374.5 billion by 2031. The region benefits from the highest concentration of multinational headquarters, the world’s most active MICE calendar, and the deepest corporate travel management infrastructure. Adoption of AI-powered booking platforms, digital expense tools, and duty-of-care technology is highest Three in four U.S. travel managers reported expanding budgets in 2025.