Article is devoted to the actual topic which is the study of various aspects of business tourism in the context of the current economic situation. The authors conducted a study monitoring business travel market over the past five years and outlined their main theoretical conclusions on the opportunities and challenges of business tourism in the city of Irkutsk, the center of the Asian business activity. Particular attention is given to the systematiza-tion and categorization of concepts and forms in this area. Business tourism is organized in different variations: congresses, exhibitions, fairs, talks and seminars. All participants in activities have different purposes of visiting, depending on their interests, capabilities and types of business. When considering Irkutsk as a center of business tourism can be noted that it has a great potential for the development in this direction. The article provides a reasonable argument on the basis of conducted studies of Irkutsk as a core center for business of tourism communication for the Asian part of the Russian Federation. The main arguments are the following: 1) the city is a major transit center in which there is a redistribution of tourist flows, following from West to East and back; 2) Irkutsk has a distinctive competitive advantage which is proximity to the lake Baikal, which is undoubtedly strategically distinguishes it from other cities in the Asian part of Russia; 3) Irkutsk has the basic infrastructure for the development of various forms of business tourism: congress, exhibition, business meetings, corporate events, and so on. In the context of marketing research the conclusion is made about the potential for diversification of products and services in the period of reconfiguring the market for domestic tourism through development of appropriate infrastructure and range of offers. In particular, highlighted is the necessity for consolidator agencies and event organizers in Irkutsk in the form of Convention Bureau.