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)
USTMA Launches National Tire Safety Week 2026 With New Storytelling Platform
- By TT News
- June 30, 2026
The U.S. Tire Manufacturers Association (USTMA) has launched National Tire Safety Week 2026, a public education campaign running from 29 June through 4 July. This year’s initiative, themed ‘Driving Safety, Full Circle’, introduces a new storytelling platform called Full Circle, which emphasises the essential role of tyres in everyday American life. The campaign underscores the critical importance of regular tyre maintenance for overall vehicle safety.
To illustrate this message, the association has released Full Circle Moments, a series of short videos depicting common scenarios where tire performance is paramount. The series features five distinct vignettes, including an infant’s secure journey home from the hospital, a parent’s lesson in driving for a teenager, the durability required for a family road trip, the traction needed during a heavy rainstorm and the stopping power necessary for sudden braking. These videos are being distributed via USTMA’s official website and social media channels.
The campaign also provides motorists with a practical maintenance guide, urging them to remember the acronym ‘P.A.R.T.’, which stands for Pressure, Alignment, Rotation and Tread. Drivers are advised to conduct these checks at least monthly and prior to embarking on extended summer road trips. According to the association, investing a few minutes in these simple inspections can significantly reduce the risk of highway incidents.
Furthermore, National Tire Safety Week marks the official launch of the Full Circle digital platform, which is structured around five core pillars: safety, sustainability, innovation, economic impact and advocacy. The site offers evidence-based narratives about the tyre industry’s dedication to reliable mobility and environmental stewardship, including efforts to repurpose tyres. The initiative is supported by all major USTMA member companies, including Bridgestone, Continental, Goodyear, Michelin and several other leading tyre manufacturers.
Anne Forristall Luke, President and CEO, USTMA, said, “Every drive home, every family road trip, every race to an emergency by a first responder happens on tyres. Proper tyre maintenance plays a critical role in safety on the road, and we must all do our part to protect the people and moments we value most. National Tire Safety Week is our reminder that caring for our tyres is simple and essential, and that behind every safe mile is an industry working to make mobility safer, smarter and more dependable.
“Tyres are essential to nearly every part of modern life, yet they’re easy to take for granted. Full Circle embodies the depth of our industry’s commitment to the communities we serve. It’s a story of an industry committed to continuous progress with safety at the forefront, and we’re proud to keep driving it forward.”
NEXEN TIRE Showcases Digital Mobility Commitment At THE TIRE COLOGNE 2026 With GDSO
- By TT News
- June 30, 2026
NEXEN TIRE made a prominent appearance at THE TIRE COLOGNE 2026, where it underscored its dedication to the digital evolution of mobility in partnership with the Global Data Service Organisation (GDSO). The company’s presence at the event highlighted its active role within the organisation, a commitment that has been ongoing since January 2024.
As a GDSO member, the tyre manufacturer is contributing to the establishment of unified digital standards that promise to transform tyres into intelligent, data-centric assets over their entire lifespan. The push for standardised and reliable tyre data is expected to foster greater transparency, operational efficiency and novel value creation across the broader mobility sector. This digital infrastructure is designed to enable advanced services, improve vehicle connectivity and bolster road safety while promoting sustainable transportation.
Through its GDSO collaborations with industry partners including Michelin and Devel, NEXEN TIRE is advancing technologies for lifecycle tracking and digital identification. These innovations aim to revolutionise tyre maintenance and management, ultimately benefiting manufacturers, fleet operators, regulators and drivers by creating a more integrated and efficient mobility ecosystem.
Gianluca Lo Vercio, Chief of (EU) Standard & Regulation Unit at NEXEN TIRE and member of the Board of Directors of GDSO, said, "The future of mobility will depend on reliable and standardised data exchange across the entire value chain. Through its active participation in GDSO, NEXEN TIRE is contributing to the development of digital standards that will support greater transparency, efficiency and innovation in the tyre industry and beyond.”
ZC Rubber Displays New WESTLAKE OTR Tyre Range At Hillhead 2026
- By TT News
- June 30, 2026
ZC Rubber, in collaboration with its UK distributor City 1st Tyres, introduced its newest WESTLAKE off-the-road tyre portfolio at Hillhead 2026. The event, recognised as the largest exhibition for the quarrying, construction and recycling sectors within UK, served as the primary venue for this product showcase.
The three-day exhibition attracted approximately 600 exhibitors and nearly 20,000 attendees, creating a significant hub for industry professionals to evaluate cutting-edge equipment and technological advancements for challenging off-road environments. The collaborative exhibit drew considerable interest from original equipment manufacturer users, service providers and clientele representing UK, Ireland and broader European markets.
Attendees directed their focus towards ZC Rubber’s heavy-duty solutions engineered for rigid and articulated dump trucks, wheeled loaders and excavators, telescopic loaders,and quarry-specific vehicles. The company presented five distinct tyre models under the WESTLAKE brand, each tailored for specific operational demands. The CB745 L5 for wheeled loaders features a non-directional tread and robust carcass to boost load capacity and resist punctures, while the CB785 E4 for rigid dump trucks incorporates deep treads, reinforced sidewalls and high-tensile steel for stability and cut protection.
Additional models included the CB792 E3/L3, designed with a multi-edged block for superior traction on soft, muddy terrain, and the CB740 E4/L4 for articulated dump trucks, which boasts a tread depth exceeding standard specifications to enhance grip and durability. The CB763 E4, specifically developed for 60-tonne articulated trucks, offers exceptional flotation and wear resistance through its deep tread and unique compound formulation. This strategic participation at Hillhead 2026 reaffirmed ZC Rubber’s dedication to the global OTR market, supporting heavy industries with durable products engineered for extreme working conditions.
John Ruddy, European OTR Tyre Sales Director of ZC Rubber, said, “Selecting the right OTR tyre is essential for improving equipment productivity and reducing downtime. Through our WESTLAKE OTR product portfolio, we are committed to providing application-specific tyre solutions that help customers improve efficiency, durability and overall operating value.”
Eurogrip Tyres Highlights R&D Excellence And European Design At Strategic Trade Meet
- By TT News
- June 29, 2026
Eurogrip Tyres, a prominent two- and three-wheeler tyre brand under TVS Srichakra Ltd., recently orchestrated a strategic trade engagement initiative in Mumbai. The event served as a platform to underscore the brand’s distinct European engineering heritage and to showcase its newly introduced, Europe-inspired product lineup, reinforcing its commitment to advanced mobility solutions.
Silvio Montanari, the Head of Design and R&D based in Milan, steered the session, offering a comprehensive overview of the company's foundational product development strategies. He elaborated on emerging tyre technologies and the robust engineering frameworks that underpin Eurogrip’s international portfolio while also updating trade partners on the pivotal innovations poised to define future tyre generations and address shifting rider demographics.
Concurrently, Eurogrip is executing an aggressive expansion of its distribution and retail footprint nationwide. This growth strategy ensures that its diverse range, encompassing radial, adventure, touring and commuter tyres, is now readily accessible to consumers across every region of India, thereby solidifying its market presence.
T K Ravi, Chief Operating Officer (COO), Eurogrip Tyres, said, "Today, Eurogrip is recognised globally as a specialist in 2‑wheeler tyres, and our premium range has found strong acceptance among biking communities in India and abroad. It is a privilege to bring our Milan team to India to demonstrate the engineering and technology behind our products. This engagement gives our trade partners the technical insights and market updates they need to better serve customers and riders, and they pave the way for a wider roll‑out of our Europe‑benchmarked products in India.”
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