“According to Association of British Travel Agents (ABTA) Travel Law in Autumn 2018 edition, The Package Travel and Linked Travel Arrangements Regulations 2018 (the Regulations) set out at Clause 3(2) that they do not apply to packages and linked travel arrangements purchased on the basis of a general agreement. A general agreement means an agreement which is concluded between a trader and another person acting for a trade, business, craft or profession, for the purpose of booking travel arrangements in connection with that trade, business, craft or profession. This means that business travel should not fall within the scope of the Regulations if the travel is booked by the corporate employer and a business travel specialist under such a framework contract.”
The article cited AMA's "Global Business Travel Market Study" explored substantial growth of 4.2%. According to the report, Growing Popularity of Flights as the Fastest and Easiest Mode of Travel
is one of the primary growth factors for the market. Growth in Travel and Tourism Industry
is also expected to contribute significantly to the Business Travel market. Overall, applications of Business Travel, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The Industry, such as Government, is boosting the Business Travel market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.The Service, such as Transportation, is boosting the Business Travel market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.The Traveler, such as Group, is boosting the Business Travel market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
AMAs Analyst on the Global Business Travel market identified that the demand is rising in many different parts of the world as "Growing Online Booking Platform for Business Travel
".
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global Business Travel market according to Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
**The market is valued based on weighted average selling price (WASP) and includes any applicable taxes on manufacturers. All currency conversions used in the creation of this report have been calculated using constant annual average 2022 currency rates.
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Business Travel market and other related sub-markets covered in the study.
o Key & emerging players in the market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall Business Travel market size is calculated using market estimation process, the Business Travel market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Business Travel market size has been validated using both top-down and bottom-up approaches.