Latin America Business Travel Market by Product Type, Distribution Channel, End User 2024-2032
                     Latin America Business 
Travel Market Research 
and Forecast Report 
2024-2032
Format: PDF+EXCEL
© 2023 IMARC All Rights Reserved 
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In ternat ional  Market  Analys is  Research and Consul t ing Group is  a leading adv iser  on management  
s t rategy and market  research wor ldwide.  We par tner  wi th c l ients  in  a l l  regions and indust ry  
vert ica ls  to  ident i fy  thei r  h ighest -value oppor tuni t ies,  address thei r  most  cr i t ica l  chal lenges,  and 
t ransform thei r  bus inesses.
IMARC’s in format ion products  inc lude major market ,  sc ient i f ic ,  economic and technological  
developments  for  bus iness leaders  in  pharmaceut ica l ,  indust r ia l ,  and h igh technology 
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chemicals ,  food and beverage,  t ravel  and tour ism, nanotechnology and novel  process ing methods 
are at  the top of  the company’s  exper t ise.
IMARC’s ta i lored approach combines unfathomable ins ight  in to the dynamics o f  companies and 
markets wi th c lose cooperat ion at  a l l  levels  of  the c l ient  organizat ion.  This ensures that  our  c l ients 
achieve unmatchable compet i t ive advantage,  bui ld  more pro f ic ient  organizat ions,  and secure 
las t ing resul ts .
Acco r d ing  t o  t he  l a t es t  r ep o r t  by  I M A RC G r oup ,  t i t l ed  "L a t i n  Amer i ca  B us i ne ss  
Trav e l  M a rke t :  I ndus t ry  T r ends ,  Shar e ,  S i z e ,  G ro w t h ,  O ppo r t un i t y  and  Forec as t  
2024 - 203 2 , "  t he  La t i n  Am er i ca  bu s ines s  t r av e l  m ar ke t  s i ze  r eac hed  US $  47 . 6  B i l l i on  
i n  2 023 .
Report Bus i ness  t r a ve l ,  a l so  know n  as  co r p o r a t e  t r ave l ,  r e f e r s  t o  do m es t i c  o r  i n t e r na t io na l  t r av e l  unde r t ak en  by  em p lo yees  a nd  ex ecu t i ves  o f  a  com pan y  exp l i c i t l y  f o r  wo r k  o r  
bus in ess  pu r po ses .  I t  i s  ge ne r a l l y  se t  up  e i t he r  by  i n - h ous e  t r av e l  dep a r t m en t s  o r  
Highlight and ex t e r na l  s e r v i ce  p r o v ide r s  a nd  i s  pa id  f o r  by  t he  com pany .  
I t  i nvo l ves  t r a ve l i ng  t o  d i f f e r e n t  l oca t i ons  o r  b r anch es  o f  t he  o r g an i z a t i on  t o  m ee t  
w i t h  s upp l i e r s  and  bu ye r s  and  f o r  bus in ess  co n f e r ence s  and  ev en t s .  I t  as s i s t s  i n  
Description bus in ess  expa ns ion  and  im pr ov ing  bus in ess  p r osp ec t s .  I n  r ecen t  yea r s ,  b us ine ss  
t r av e l  ha s  ga ined  im m e nse  po pu la r i t y  am ong  en t e r p r i s es  f o r  b r an d  and  p r odu c t  
p r om o t io n ,  c l i en t  m ee t i ngs ,  ne w m ar ke t  as sess m en t s ,  p r o jec t  s i t e  ev a lua t i ons ,  and  
em p lo yee  t r a in ing  p r og r a m s .
Reque st  f o r  a  P DF  s ampl e  o f  t h i s  repor t :  
h t t p s : / / www. im ar c g r ou p . com / la t i n - am er i ca - bus in ess - t r ave l - m ar ke t / r eque s t sa m p le
Report Description
L a t i n  A m e r i c a  B u s i n e s s  T r a v e l  M a r k e t  T r e n d s :
I n  L a t i n  A m e r i c a ,  t h e  r i s i n g  b u s i n e s s  a c t i v i t i e s  a n d  r a p i d  g l o b a l i z a t i o n  r e p r e s e n t  t h e  p r i m a r y  f a c t o r s  d r i v i n g  t h e  m a r k e t  g r o w t h .  B e s i d e s  
t h i s ,  t h e  r e v i t a l i z a t i o n  o f  t h e  e c o n o m y  i n  t h e  r e g i o n  i s  a n o t h e r  m a j o r  g r o w t h - i n d u c i n g  f a c t o r .  A d d i t i o n a l l y ,  w i t h  t h e  e s c a l a t i n g  d e m a n d  
f o r  i n t e r n a t i o n a l  r o u t e s ,  t h e r e  h a s  b e e n  a  s i g n i f i c a n t  i n c r e a s e  i n  a i r  t r a f f i c  a n d  r e v e n u e  p a s s e n g e r  k i l o m e t e r s  ( R P K s ) .  I n  l i n e  w i t h  t h i s ,  
t h e  g r o w i n g  p o p u l a r i t y  o f  l o w - c o s t  c a r r i e r s  ( L C C s )  i n  v a r i o u s  c o u n t r i e s ,  s u c h  a s  C o l o m b i a ,  P e r u ,  A r g e n t i n a ,  a n d  C h i l e ,  h a s  a c c e l e r a t e d  
p r o d u c t  a d o p t i o n  r a t e s .  F u r t h e r m o r e ,  s e v e r a l  c o r p o r a t e  o r g a n i z a t i o n s  a r e  c o l l a b o r a t i n g  w i t h  l e a d i n g  t r a v e l  c o m p a n i e s  t o  p r o v i d e  
c u s t o m i z e d  c o l l a b o r a t i v e  s p a c e s  a n d  t e a m - b u i l d i n g  e x e r c i s e s .  A l o n g  w i t h  t h i s ,  t h e  s u r g i n g  p e n e t r a t i o n  o f  t h e  I n t e r n e t  o f  T h i n g s  ( I o T )  
a n d  v i r t u a l  r e a l i t y  ( V R )  t e c h n o l o g y  t h a t  f a c i l i t a t e s  p r o c e s s  a u t o m a t i o n  a n d  s m o o t h  o p e r a t i o n s  f o r  t r a v e l e r s  a n d  t r a v e l  o p e r a t o r s  h a s  
c a t a l y z e d  m a r k e t  g r o w t h .  A p a r t  f r o m  t h i s ,  t h e  e m e r g i n g  t r e n d  o f  B l e i s u r e  t r a v e l  t h a t  i n c o r p o r a t e s  t h e  e l e m e n t s  o f  b u s i n e s s  a n d  
p l e a s u r e ,  a n d  o f f e r s  l e i s u r e  o r  r e c r e a t i o n a l  a c t i v i t i e s  t o  r e l i e v e  s t r e s s  a n d  e n h a n c e  w o r k  e f f i c i e n c y  i s  p o s i t i v e l y  i n f l u e n c i n g  t h e  m a r k e t  
g r o w t h .  O t h e r  f a c t o r s ,  i n c l u d i n g  t h e  e x p a n d i n g  t r a v e l  a n d  t o u r i s m  i n d u s t r y ,  i n c r e a s i n g  d i g i t i z a t i o n  i n  t h e  c o r p o r a t e  s e c t o r ,  r i s i n g  
n u m b e r  o f  s m a l l  a n d  m e d i u m  e n t e r p r i s e s  ( S M E s ) ,  a n d  t e c h n o l o g i c a l  a d v a n c e m e n t s ,  a r e  a l s o  p r o v i d i n g  a  p o s i t i v e  t h r u s t  t o  t h e  m a r k e t  
g r o w t h .
L o o k i n g  f o r w a r d ,  I M A R C  G r o u p  e x p e c t s  t h e  m a r k e t  v a l u e  t o  r e a c h  U S $  8 2 . 9  B i l l i o n  b y  2 0 3 2 ,  g r o w i n g  a t  a  C A G R  o f  6 . 2 %  d u r i n g  
2 0 2 4 - 2 0 3 2 .
V i e w  R e p o r t  T O C ,  F i g u r e s  a n d  T a b l e s :  h t t p s : / / w w w . i m a r c g r o u p . c o m / l a t i n - a m e r i c a - b u s i n e s s - t r a v e l - m a r k e t
Breakup by Type:
• Managed Business Travel
• Unmanaged Business Travel
 
Breakup by Purpose Type:
• Marketing
• Internal  Meetings
Report • Trade Shows
Segmentation • Product  Launch
• Others
Breakup by Expenditure:
• Travel  Fare
• Lodging
• Dining
• Others
Breakup by Age Group:
• Travelers Below 40 Years
• Travelers Above 40 Years
Breakup by Service Type:
• Transportation
Report • Food and Lodging
Segmentation • Recreat ional  Activ it ies
• Others
Breakup by Travel Type:
• Group Travel
• Solo Travel
Breakup by End User:
• Government
• Corporate
• Others
Breakup by Country:
Report • Brazi l
Segmentation • Mexico
• Argentina
• Colombia
• Chi le
• Peru
• Others
What was the size of the Latin America business travel 
market in 2023?
What is the expected growth rate of the Latin America 
business travel market during 2024-2032?
What are the key factors driving the Latin America 
Key business travel market?
Questions What has been the impact of COVID-19 on the Latin 
America business travel market?
Answered in 
What is the breakup of the Latin America business 
the Report travel market based on the type?
What is the breakup of the Latin America business 
travel market based on the purpose type?
What is the breakup of the Latin America business 
travel market based on the expenditure?
What is the breakup of the Latin America business 
travel market based on the age group?
What is the breakup of the Latin America business 
travel market based on the service type?
What is the breakup of the Latin America business 
travel market based on the travel type?
Key What is the breakup of the Latin America business 
travel market based on the end user?
Questions 
Answered in What are the key regions in the Latin America business travel market?
the Report
1     P r e f a c e
2     S c o p e  a n d  M e t h o d o l o g y
    2 . 1     O b j e c t i v e s  o f  t h e  S t u d y
    2 . 2     S t a k e h o l d e r s
    2 . 3     D a t a  S o u r c e s
        2 . 3 . 1     P r i m a r y  S o u r c e s
        2 . 3 . 2     S e c o n d a r y  S o u r c e s
    2 . 4     M a r k e t  E s t i m a t i o n
        2 . 4 . 1     B o t t o m - U p  A p p r o a c h
Table of         2 . 4 . 2     T o p - D o w n  A p p r o a c h    2 . 5     F o r e c a s t i n g  M e t h o d o l o g y
3     E x e c u t i v e  S u m m a r y
4     I n t r o d u c t i o n
    4 . 1     O v e r v i e w
Contents     4 . 2     K e y  I n d u s t r y  T r e n d s5     L a t i n  A m e r i c a  B u s i n e s s  T r a v e l  M a r k e t
    5 . 1     M a r k e t  O v e r v i e w
    5 . 2     M a r k e t  P e r f o r m a n c e
    5 . 3     I m p a c t  o f  C O V I D - 1 9
    5 . 4     M a r k e t  F o r e c a s t
6      M a r k e t  B r e a k u p  b y  T y p e  
    6 . 1     M a n a g e d  B u s i n e s s  T r a v e l
        6 . 1 . 1  M a r k e t  T r e n d s
        6 . 1 . 2  M a r k e t  F o r e c a s t
    6 . 2     U n m a n a g e d  B u s i n e s s  T r a v e l
        6 . 2 . 1  M a r k e t  T r e n d s
        6 . 2 . 2  M a r k e t  F o r e c a s t
7    M a r k e t  B r e a k u p  b y  P u r p o s e  T y p e
    7 . 1     M a r k e t i n g
        7 . 1 . 1  M a r k e t  T r e n d s
        7 . 1 . 2  M a r k e t  F o r e c a s t
       
    7 . 2     I n t e r n a l  M e e t i n g s
        7 . 2 . 1  M a r k e t  T r e n d s
        7 . 2 . 2  M a r k e t  F o r e c a s t
    7 . 3     T r a d e  S h o w s
        7 . 3 . 1  M a r k e t  T r e n d s
        7 . 3 . 2  M a r k e t  F o r e c a s t
    7 . 4     P r o d u c t  L a u n c h
        7 . 4 . 1  M a r k e t  T r e n d s
        7 . 4 . 2  M a r k e t  F o r e c a s t
    7 . 5     O t h e r s
        7 . 5 . 1  M a r k e t  T r e n d s
Table of         7 . 5 . 2  M a r k e t  F o r e c a s t8    M a r k e t  B r e a k u p  b y  E x p e n d i t u r e
    8 . 1     T r a v e l  F a r e
        8 . 1 . 1  M a r k e t  T r e n d s
Contents         8 . 1 . 2  M a r k e t  F o r e c a s t
    8 . 2     L o d g i n g
        8 . 2 . 1  M a r k e t  T r e n d s
        8 . 2 . 2  M a r k e t  F o r e c a s t
    8 . 3     D i n i n g
        8 . 3 . 1  M a r k e t  T r e n d s
        8 . 3 . 2  M a r k e t  F o r e c a s t
    8 . 4     O t h e r s
        8 . 4 . 1  M a r k e t  T r e n d s
        8 . 4 . 2  M a r k e t  F o r e c a s t
9    M a r k e t  B r e a k u p  b y  A g e  G r o u p
    9 . 1     T r a v e l e r s  B e l o w  4 0  Y e a r s
        9 . 1 . 1  M a r k e t  T r e n d s
        9 . 1 . 2  M a r k e t  F o r e c a s t     
F o r  m o r e  i n f o r m a t i o n ,  v i s i t :  
ht t ps : / /w ww. i ma rc gro up . c o m / l a t i n -a m er i ca -b us i ness - t r a v e l -m
a rke t / t o c
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