$3.8bn
$XXX.Xm
14,148
2,454
$X.Xbn
Over the past decade, significant structural transformations have taken place in the Corporate Travel Services industry. Online sales platforms have empowered corporate travel agents to amplify automation, cut operating costs and tap into remote markets. As a result, physical locations’ necessity has diminished. Nevertheless, emerging technologies have also exposed the industry to increased competition from upstream travel product providers, as airlines and hotels have developed their own online booking services. These rivals have harnessed technology to allow businesses to circumvent corporate travel agents.
Industry revenue has grown at a CAGR of 0.6 % over the past five years, to reach an estimated $3.8bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 |
---|---|---|
Flight Centre Travel | 607.4 | |
Corporate Travel Management | 131.6 | |
GBT Australia | 64.8 |
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Industry revenue is measured across several distinct product and services lines, including Airline bookings, Other transport bookings and Accommodation bookings. Airline bookings is the largest segment of the Corporate Travel Services in Australia.
Accommodation bookings dominate corporate travel revenue
Corporate travel service agencies cater for business and government clients travelling for business purposes. These agencies package accommodation, transport and leisure services for corporate clients and work for commission. The industry includes online corporate travel agencies.
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ANZSIC 7220 - Corporate Travel Services in Australia
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Revenue has recovered strongly in the face of volatile conditions. The pandemic stifled demand, but businesses have looked to restore normality by shifting away from online-o...
Learn about an industry's products and services, markets and trends in international trade.
Accommodation bookings have become the primary revenue source for the Corporate Travel Services industry. Airline booking revenue has declined in favour of online comparison ...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Corporate travel agents are primarily located in major cities. This is because they need access to a steady supply of labour and to be nearby to centres of business activity.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Online booking platforms have enabled businesses to organise their travel plans internally. Price-conscious businesses can opt for this commission-free alternative to travel ...
Learn about the performance of the top companies in the industry.
Large travel agents, like Flight Centre, have invested heavily in online platforms to provide a point of differentiation. These new platforms aim to improve the customer expe...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Corporate travel service businesses receive minimal financial assistance from both the public and private sectors. Businesses benefit indirectly from the Department of Foreig...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
A shift to online business models in the travel sector has decreased wage costs. Depreciation costs have increased following a bump in capital investment in technology-based ...
Including values and annual change:
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Key data sources in Australia include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Corporate Travel Services industry in Australia is $3.8bn in 2024.
There are 2,454 businesses in the Corporate Travel Services industry in Australia, which has declined at a CAGR of 1.6 % between 2019 and 2024.
The market size of the Corporate Travel Services industry in Australia has been growing at a CAGR of 0.6 % between 2019 and 2024.
Over the next five years, the Corporate Travel Services industry in Australia is expected to grow.
The biggest companies operating in the Corporate Travel Services market in Australia are Flight Centre Travel, Corporate Travel Management and GBT Australia
Airline bookings and Charter flights and airport pickup services are part of the Corporate Travel Services industry.
The company holding the most market share in Australia is Flight Centre Travel.
The level of competition is high and increasing in the Corporate Travel Services industry in Australia.