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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Nokian Tyres is putting the question of North America’s roughest roads directly to drivers, launching a voting campaign that runs from 30 March to 10 April 2026. The initiative invites the public to cast votes for the state or province they believe has the most challenging surfaces, with the conversation playing out across the tyremaker’s social media channels on Instagram, Facebook and TikTok under the handle @NokianTyresNA.

This bracket-style competition brings back champions and notable contenders from previous years, with the semifinal matchups now set. Quebec faces off against Massachusetts, while Colorado takes on Oregon. For those living outside these regions, the company encourages participation through a write-in option on its dedicated contest website, where drivers can also make their case for why their local roads deserve the title.

Central to the campaign is Nokian Tyres’ use of aramid fibres, the lightweight yet incredibly strong material found in aerospace and defence applications. By weaving these fibres into the sidewalls and sometimes the tread, the company strengthens its tyres against punctures and blowouts. This technology features prominently in the new Hakkapeliitta 01, a studded winter tyre debuting this fall, and qualifies the tyres for the brand’s Pothole Protection warranty, which offers a free replacement if a tyre is damaged beyond repair by a road hazard.

The campaign will be amplified through social media content, testimonials from North American brand ambassadors and messaging from business partners. Drivers following @NokianTyresNA can vote directly on posts and stories, while those entering the tyre giveaway or submitting their regional nomination can do so on the contest website. The company, renowned for inventing the winter tyre, continues to serve the North American market with its full range of all-season, all-weather and winter products.

Hans Dyhrman, Director of Marketing, Nokian Tyres North America, said, “Our tyres come with a Pothole Protection warranty because we understand the unique challenges of North American roads. While the ‘Worst Roads’ contest offers a chance to complain about potholes and rough surfaces, it’s also an opportunity for consumers to learn about the ways Nokian Tyres helps keep them safe thanks to our aramid-reinforced products.”

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Tyrecycle has announced the upcoming implementation of a pioneering conveyor belt system at its East Rockingham facility in Western Australia, marking a significant step forward in sustainable industrial practices. This particular product, the Infinity Series, was developed by Fenner Conveyors and holds the distinction of being the first conveyor belt manufactured in Australia using locally sourced recycled materials. The material used in its production was supplied through an established strategic partnership between the two companies, underscoring a collaborative foundation that prioritises resource efficiency and domestic manufacturing.

By integrating this locally manufactured belt into its own operations, Tyrecycle is transforming its facility into a living demonstration of the shared environmental vision it holds with Fenner Conveyors. The deployment at East Rockingham serves a dual purpose: it not only upholds the rigorous performance standards required for such critical infrastructure but also actively nurtures a novel closed loop ecosystem. This system represents a first of its kind approach where industrial components are deliberately reclaimed and repurposed, reinforcing the viability of circular economy principles within heavy industries like mining.

Together, the two organisations are effectively closing the loop by converting end-of-life conveyor belts into robust new products that maintain high durability standards. This collaborative effort directly supports mining operations seeking to advance their decarbonisation strategies and circularity targets. Their work illustrates how a combined focus on innovation and corporate responsibility can yield tangible solutions, proving that industrial advancement and environmental stewardship can indeed move forward on a parallel and mutually reinforcing path.

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CEAT Kelani Holdings emerged as a standout performer at the 2026 Best Management Practices Company Awards of the Institute of Chartered Professional Managers of Sri Lanka (CPM Sri Lanka), securing the overall Gold award for Best Management Practices. This top honour, which recognised the company as the nation’s best-managed enterprise, was complemented by four additional distinctions. Among these were the Sector Award as the winner in the Manufacturing category for Tyre and Rubber, a place among the 40 Outstanding Companies and a Best Management Practices Excellence Award, underscoring the breadth of the organisation’s operational excellence.

The company’s leadership also received significant acclaim, with Managing Director and Chief Executive Officer Ravi Dadlani being presented with the Leadership Excellence award. This particular recognition highlighted the effectiveness of the strategic direction at the helm of the organisation. The CPM awards themselves serve to evaluate public and private sector entities based on comprehensive management criteria, including leadership effectiveness, people management, resource utilisation and overall performance during the review period.

Central to CEAT Kelani’s achievements this year is its Quality-Based Management philosophy, which prioritises customer satisfaction by aligning quality controls and workforce efforts with strategic business goals. A notable initiative presented during the awards process was the overhaul of the customer claim settlement process, which now facilitates inspections within a single day. This improvement was driven by a structured Quality Improvement Project involving cross-functional teams from Technical Services, Supply Chain and Distribution, supported by digital integration and process enhancements.

The revamped claim settlement system has not only bolstered customer confidence and dealer trust but has also contributed to volume growth, particularly in the Truck and Light Truck segments. Dadlani emphasised that the QBM approach has been instrumental in steering the company towards greater customer centricity while maintaining strong financial results, with continuous improvement through digital transformation and employee engagement remaining central to the corporate strategy. This consistent recognition by CPM reflects the sustained depth and continuity of the company’s management practices over time.

Commenting on the awards, Dadlani said, “To be named the best-managed company in Sri Lanka is an extraordinary honour as well as a reward for years of hard work in times of challenge. This recognition reflects the company’s sustained focus on embedding best-in-class management practices across its operations with the involvement of employees at every level.”

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Zeon has confirmed its role as an official sponsor of RubberCon 2026, scheduled for 28 and 29 April in Paris. The conference is organised by AFICEP under the aegis of IRCO. The event will centre on the theme ‘Ecodesign and Rubber Innovation’, serving as a gathering for global experts spanning academia, research, manufacturing and technology sectors. This focus reflects the industry’s growing emphasis on sustainable material development and circular economy principles.

Through its sponsorship, the company underscores its commitment to sustainable solutions, innovation and international knowledge exchange. Zeon anticipates engaging with industry professionals to explore new approaches and contribute to meaningful sector progress.

“By sponsoring RubberCon 2026, we reaffirm our commitment to driving forward sustainable solutions, fostering innovation and supporting the international exchange of knowledge and best practices. We look forward to engaging with industry professionals, discovering new approaches and contributing to meaningful progress within our sector,” read the company statement.

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