What are the two major segments of travel? Which one is growing the fastest and why?

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The two major segments of travel are leisure and business travel (managed or unmanaged). 

The leisure market includes unmanaged business travel, and this is where the online travel industry has concentrated its efforts. However, the fastest-growing segment is managed business travel because large and midsized firms are trying to control mushrooming corporate travel costs by actively managing their employees’ travel arrangements. Increasingly, corporations are outsourcing their travel offices to vendors who can provide Web-based solutions, high-quality service, and lower costs.

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