research report 2019
An analysis of the evolving business trip and how it is being influenced by the socio-economic trends currently affecting the UK, Germany, France and Spain.
Business travel is a massive industry. It was worth $1.3 trillion in 2017 and is predicted to grow by 4.1% to $1.7 trillion in 2023. Furthermore, the sector that Homelike operates in – long-term business travel accommodation – is worth $160bn globally and growing. What this means is that business travel is an important sector to have an understanding of as it contributes a large sum to the entire world’s economy and, on a micro scale, has a positive effect on the local areas that travellers visit.
To gain a better understanding of what this industry looks like today in Europe, we have surveyed 2,000 business travellers from the UK, Germany, France and Spain about their business travel habits and how socio-economic trends are affecting their organisations’ business travel.