Business travel represents a substantial force in the global economy. Just before the Covid-19 pandemic hit, it contributed to more than USD 1.2 trillion, about 25 percent of the travel and tourism sector’s overall economic impact, to the global GDP. Businesses had resumed spending on travel after substantial declines in 2008 and 2009.

A research by Global Business Travel Association Foundation had found that for every one percent change in business travel spending, the US economy typically gains or loses 74,000 jobs, USD 5.5 billion in GDP, USD 3.3 billion in wages and USD 1.3 billion in taxes. The report also stated that personal vehicle (35 percent) was the most popular mode of transportation among US business travellers in 2016, followed by airplane (28 percent) and rental cars (13 percent).

Internal travel encompasses trips taken for intracompany purposes, where employees participate in activities such as training, team building or inspection of field operations. External travel, on the other hand, refers to travel done by employees for engagements outside the company, including in-person meetings with clients and suppliers, trade conferences and customer sales calls.

"Obstacles to business travel, such as cumbersome visa protocols and long flight connections, constrain access to knowhow and limit growth opportunities, especially in developing countries," said Frank Neffke, research director at Harvard Kennedy School’s Growth Lab.

Benefits Of Business Travel

In the past, companies have experienced that, on average, 40 percent of customers would eventually be lost without in-person meetings and support.

Detailed statistical modelling over 18 years and 14 industries indicates that for every dollar invested in business travel, US companies make a USD 9.50 return in terms of revenue. The modelling also found that US business travel has yielded USD 2.90 in profits for every dollar spent.

There is a small segment of employees for whom travel is deemed essential for conducting business. This category accounted for around 15 percent of all corporate travel expenses in 2019 and includes decision makers in manufacturing companies with a wide distribution of factories and plants, and field-operation workers. For some corporate travellers, it is possible to move oversight responsibility to local personnel and/or utilise digital medium. This segment will see their business travel decline. A large segment of business travel is done to cultivate new or important client relationships. This segment will bounce back as soon as Covid-related restrictions are lifted.

A tiny portion of business travel comes from the public sector, professional associations and nonprofits. During the pandemic, many professional associations were able to hold virtual events to replace in-person conferences and will likely be more cautious in their return to travel.

Business Travel Catches The Virus!

Business travel has taken a big hit during the Covid-19 pandemic and its future is still up-in-the-air, waiting for the end of the pandemic and firming up the ‘New Normal’. In 2020, total global business travel expenses contracted by 52 percent, while managed corporate-travel spending in the United States alone plummeted by USD 94 billion (71 percent).

The World Travel and Tourism Council’s (WTTC) latest annual research shows that the global travel and tourism sector suffered a loss of almost USD 4.5 trillion to reach USD 4.7 trillion in 2020, with its contribution to GDP dropping by a staggering 49.1 percent compared to 2019. In 2020, sixty-two million jobs were lost, representing a drop of 18.5 percent, leaving just 272 million employed across this sector globally, compared to 334 million in 2019. The threat of job losses persists as many jobs are currently supported by government retention schemes and reduced hours, which could be lost without a full recovery of the travel and tourism sector.

Some business travellers expect to take at least as many business trips in 2022 as they had in the year before the Covid-19 pandemic was declared. While teleconferencing will reduce the need for some business travel, many survey respondents cited the need to meet in-person to rekindle relationships with customers, suppliers and business partners. Another frequent reason cited for the need to travel for business was a job change.

The countries most eager to travel for business once Covid-19 travel restrictions are lifted seem to be China, US and Australia. Of course, the potential increase in Covid cases from the Delta and future variants of the virus may still cause further backsliding on rising confidence levels for resumption of business travel. (TT)

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Goodyear kicks off its third year as the exclusive tyre supplier for the LMGT3 class in the FIA World Endurance Championship at the 6 Hours of Imola. All 18 cars competing this weekend will be fitted with Goodyear Racing Eagle tyres, continuing a partnership that began in 2024. The chosen compound for Imola is the Medium variant, recognisable by its yellow sidewall lettering, which is valued for its steady performance and reliability across multiple driving stints. This same tyre will be used at every WEC track throughout the current season.

Imola presents a unique test compared to more abrasive circuits thanks to its smooth asphalt and flowing layout that puts less stress on tyres. Lower degradation shifts the emphasis towards strategic planning over the six-hour race, rather than pure tyre preservation. This backdrop is where Richard Lietz and Riccardo Pera previously claimed their first victory together, eventually becoming 2025 LMGT3 champions alongside Ryan Hardwick. They now return with The Bend Manthey Porsche, joined by Yasser Shahin.

New regulations this season have increased tyre allocations, giving teams more strategic freedom. While the Medium’s proven durability still allows double stinting, the extra sets let crews fit fresh rubber at every pit stop, avoiding the need to overextend a stint and risk fading pace. For wet conditions, teams also have access to a Goodyear Racing Eagle Wet tyre, whose tread pattern is engineered to clear standing water and maintain grip.

Beyond the on-track action, the Goodyear Blimp will soar above Imola for its first appearance of the season. The Goodyear Wingfoot Award, decided by fan votes from both the grandstands and home viewers in a driver of the day format, also makes its return. Meanwhile, Goodyear Racing Eagle tyres are competing this weekend at Kansas Speedway in the NASCAR Cup and O’Reilly Auto Parts Series, as well as at Donington Park for the British Touring Car Championship opener.

Stephen Bickley, Goodyear Endurance Program Manager, Said, “Imola is less aggressive on tyres than many of the tracks we visit. It doesn’t generate high lateral loads and the surface is relatively smooth, so it’s naturally one of the kinder tracks on tyres. That opens up a range of strategic options for teams. You can double stint and gain time in the pit lane, or with the increased allocations, teams may choose to run new tyres more often. Our Goodyear Racing Eagle Medium tyre gives them the flexibility to consider both options. The circuit also has a clear left-hand bias, which places more load on the right side of the car. Teams may look at single stinting only the loaded side, while carrying the unloaded side for longer and doing more stints on that side. These differing strategies are what we expect will define the race for many teams this weekend.”

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Triangle Tyre has entered into a 10-year exclusive distribution partnership with Titan International, a leading name in off the road tyre and wheel manufacturing based in West Chicago, Illinois. Under this strategic agreement, Titan gains sole rights to distribute Triangle and Diamondback branded OTR tyres throughout United States.

Under the terms of the deal, Triangle Tyre oversees product supply while Titan handles all distribution activities for a range of designated OTR tire products suited to various heavy-duty applications. Both companies are focused on delivering high performance tyre solutions engineered to withstand the increasingly rigorous demands of off the road environments.

This collaboration leverages Triangle’s worldwide manufacturing strength, the established recognition of the Diamondback brand and Titan’s extensive dealer network across North America. As a result, Titan can offer an expanded and unified OTR product line supported by its national sales and service infrastructure. The combined portfolio delivers clear advantages to dealers, OEM partners and end users in sectors such as mining, construction, earthmoving, aggregates, industrial operations and equipment rental. The range includes radial and bias OTR tyres for large earthmoving machines, loaders and dozers, scrapers and haulage equipment, mobile cranes, container handling and port machinery, as well as industrial and rental fleets.

Titan’s US dealer network is already receiving the first wave of Triangle and Diamondback OTR products, with additional sizes and tread patterns scheduled for release throughout the year. Dealers seeking current availability, detailed specifications or ordering procedures should reach out directly to their assigned Titan representative.

Paul Reitz, CEO & President, Titan International, said, “This partnership combines Titan’s deep channel reach with Triangle’s expanding OTR portfolio to deliver a broader, more competitive offering to our customers – backed by Titan’s service, training and technical support. We’re excited to bring the Triangle and Diamondback families into our US distribution platform to improve availability, coverage and value across critical OTR customers.”

Campbell Metcalfe, CEO, Triangle Tire, said, “Triangle is pleased to join forces with Titan to bring our OTR innovations to more US customers, faster. Titan’s scale, distribution strength and customer support capabilities will substantially enhance access to Triangle and Diamondback products across key industries.”

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Hankook Tire, the official tyre supplier for the FIA World Rally Championship, successfully concluded the fourth round of the 2026 WRC season. The Croatia Rally took place near Rijeka and finished on 12 April, with Hankook equipping competitors using its Ventus Z215 and Z210 tarmac tyres. The Ventus Z215 proved especially effective on dry pavement, delivering responsive handling and dependable grip that helped drivers navigate constantly shifting course conditions throughout the event.

This year’s rally featured a brand‑new route winding along the Adriatic coast and through rugged mountain landscapes. Covering 300.28 kilometres divided into 20 special stages, the competition crossed the Kvarner Gulf and the Istrian peninsula, demanding maximum effort from both drivers and teams. The event is notoriously challenging due to extreme variations in road surfaces, including smooth asphalt, rough concrete and patched areas, plus numerous blind crests. Aggressive cornering frequently dragged gravel onto the tarmac, temporarily changing traction and forcing precise tyre choices.

Hankook also ran a Brand World booth in the service park, using immersive motorsport content and interactive activities to highlight its unified global brand identity to fans. After a fierce battle, Takamoto Katsuta of Toyota Gazoo Racing claimed the overall victory. With this result, Katsuta now leads the drivers’ championship with 81 points, while Elfyn Evans trails closely, raising the stakes for the season title.

The championship next moves to the Rally Islas Canarias in Spain from 23 to 26 April, centred in Las Palmas de Gran Canaria. That round is expected to be a major test with volcanic asphalt, consecutive hairpin turns, and steep elevation changes. Since becoming the exclusive WRC tyre supplier for all classes in 2025, Hankook has reinforced its technological leadership by feeding data from over 70 global motorsport events into its research and development, continuously advancing high‑performance tyre technology and strengthening its brand prestige worldwide.

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Pirelli has confirmed that its three softest tyre compounds will be in action for the upcoming Sprint race weekends in Miami and Montreal. For both circuits, the C3, C4 and C5 specifications will serve as the Hard, Medium and Soft options, respectively, marking a clear choice towards maximum grip on these particular tracks.

The Miami Grand Prix, scheduled for the first weekend of May, will take place after a month‑long hiatus caused by the cancellation of the Bahrain and Saudi Arabian rounds. The circuit, built around the home stadium of the Miami Dolphins, features exceptionally smooth asphalt, which permits the use of Formula 1’s softest compounds. Thermal degradation is the main concern given Florida’s high temperatures, yet last year’s race showed limited tyre wear even with nominally identical compounds. This allowed drivers to push aggressively during the early laps, leading to numerous close battles on track.

In Canada later that month, Pirelli will again bring the softest selection because the Montreal surface is not very abrasive and extra grip is needed in heavy braking zones. Last season, when the range extended up to a C6 tyre, the trio including that option was used, though the soft compound itself played a minor role in race strategies as most teams preferred two‑stop plans relying solely on Hard and Medium tyres. Unlike Miami, the Canadian round introduces an unpredictable weather factor, especially given its earlier position on the calendar.

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