Latin America Business Travel Market Size & Outlook
The business travel market in Latin America is expected to reach a projected revenue of US$ 340,933.2 million by 2030. A compound annual growth rate of 7.5% is expected of Latin America business travel market from 2025 to 2030.
Revenue, 2024 (US$M)
$209,532.1
Forecast, 2030 (US$M)
$340,933.2
CAGR, 2025 - 2030
7.5%
Report Coverage
Latin America
Related Markets
Latin America business travel market highlights
- The Latin America business travel market generated a revenue of USD 209,532.1 million in 2024.
- The market is expected to grow at a CAGR of 7.5% from 2025 to 2030.
- In terms of segment, solo was the largest revenue generating traveler in 2024.
- Group is the most lucrative traveler segment registering the fastest growth during the forecast period.
- Country-wise, Argentina is expected to register the highest CAGR from 2025 to 2030.
Latin America data book summary
| Market revenue in 2024 | USD 209,532.1 million |
| Market revenue in 2030 | USD 340,933.2 million |
| Growth rate | 7.5% (CAGR from 2025 to 2030) |
| Largest segment | Solo |
| Fastest growing segment | Group |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Solo, Group |
Other key industry trends
- In terms of revenue, Latin America region accounted for 12.9% of the global business travel market in 2024.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Europe is the fastest growing regional market and is projected to reach USD 550,442.1 million by 2030.
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Business Travel Market Scope
Business travel market segmentation & scope
Business Travel Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| WEXAS Travel | View profile | 51-100 | London, England, United Kingdom, Europe | https://www.wexas.com |
| Hogg Robinson Group plc | View profile | 5001-10000 | Basingstoke, Hampshire, United Kingdom, Europe | http://www.hoggrobinson.com |
| Corporate Travel Management | View profile | 11-50 | Charlotte, North Carolina, United States, North America | https://goctm.com/ |
| BCD Group | View profile | 101-250 | Hamilton, Waikato, New Zealand, Oceania | https://www.bcdgroup.nz/ |
| American Express Company | View profile | - | - | - |
| Frosch | View profile | - | http://froschusa.com/ | |
| Expedia Group Inc | View profile | 17100 | 1111 Expedia Group Way W, Seattle, WA, United States, 98119 | https://www.expediagroup.com |
| Booking Holdings Inc | View profile | 23600 | 800 Connecticut Avenue, Norwalk, CT, United States, 06854 | https://www.bookingholdings.com |
Latin America business travel market size, by country, 2018-2030 (US$M)
Latin America Business Travel Market Outlook Share, 2024 & 2030 (US$M)
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