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)
Michelin India Expands Rajasthan Presence With New MTS Store In Jodhpur
- By TT News
- May 18, 2026
Michelin India has opened a new Michelin Tyres & Services (MTS) store in Jodhpur through a partnership with Sushil Tyres. Located on Chopasani Road, the facility expands the French tyre giant’s retail footprint across Rajasthan while offering premium tyre solutions to local motorists.
Spanning 1,800 square feet, the outlet features Michelin’s full range of passenger car tyres alongside modern wheel alignment and balancing equipment. The inauguration was led by Prashant Sharma, Michelin India’s National Sales Director, with the site designed to deliver a premium and convenient service experience.
Jodhpur, known as the Blue City and a fast-growing commercial hub in Rajasthan, benefits from a strong tourism economy and rising numbers of premium vehicle owners. Sushil Tyres, a trusted local name since 1984, brings over four decades of aftermarket expertise, making the collaboration a blend of global technology and deep community knowledge focused on safety, durability and performance.
Shantanu Deshpande, Managing Director, Michelin India, said: “Jodhpur represents a key market in Michelin's growth strategy for the region. The city's rapidly evolving mobility landscape, driven by growing infrastructure and a rising base of premium vehicle owners, makes it an important hub for our retail expansion. The launch of our new Michelin Tyres & Services Store in Jodhpur reinforces our commitment to expanding our network and ensuring greater accessibility to Michelin's premium products and services. This expansion is aligned with our plans to introduce Made-in-India passenger car tyres, reinforcing our commitment to delivering globally benchmarked products tailored for Indian consumers”
Bridgestone India Launches ‘Feel The Bridgestone Difference’ Campaign Highlighting Critical Role Of Tyres
- By TT News
- May 18, 2026
Bridgestone India, a wholly-owned subsidiary of Bridgestone Corporation, has introduced a new brand campaign titled ‘Feel the Bridgestone Difference’. The initiative centres on the often-overlooked role of tyres as the sole critical contact point between a vehicle and the road. While every car is designed with a specific performance level in mind, the campaign argues that a vehicle can only realise its true potential when equipped with the appropriate tyres.
According to the campaign, tyres influence control, safety, confidence and driving smoothness far more than most drivers realise. Even the most well-engineered car delivers an incomplete experience without proper tyre fitment. Bridgestone positions its products as the key to unlocking a vehicle’s full capabilities, allowing drivers to feel a tangible difference on every journey. Over the past 30 years, Bridgestone India has focused on technology, manufacturing excellence, innovation and quality to build products that stand apart.
A key highlight of the campaign is the company’s commitment to staying ahead of industry standards without compromise. Bridgestone tyres offer benefits including better grip, stronger braking, smoother handling, lower road noise, improved fuel efficiency and longer tyre life. Drawing inspiration from nature, the campaign features animals such as the mountain goat, cheetah and rhino to symbolise grip, speed, strength and control in challenging terrains. This creative approach mirrors how Bridgestone tyres are engineered to perform across India’s diverse road and driving conditions.
The campaign serves as a reminder that while every car has built-in potential, the right tyres bring it to life. Promoted across multiple platforms nationwide, the initiative reinforces Bridgestone India’s long-standing promise of performance, safety and reliability for every driver.
Rajiv Sharma, Executive Director – Sales and Marketing, Bridgestone India, said, “Bridgestone has been a trusted name for Indian consumers, and that trust has come from consistently delivering safe, high-quality products and a superior driving experience. Our customers have experienced the Bridgestone difference over the years – whether in better control, smoother rides or long-lasting performance. ‘Feel the Bridgestone Difference’ is a campaign people will instantly relate to because it reflects something they have already felt. With this campaign, we want to take that experience to a larger audience and help more people understand how the right tyre fitment can completely transform the way a car performs.”
ZC Rubber Displays Portfolio And Strengthens Regional Partnerships At TyreXpo Asia 2026
- By TT News
- May 18, 2026
ZC Rubber showcased its full brand portfolio at TyreXpo Asia 2026 in Bangkok, drawing attention from customers, distributors and industry partners across Southeast Asia and other global markets. The Chinese manufacturer presented six of its brands at the event: WESTLAKE, GOODRIDE, CHAOYANG, TRAZANO, GOLDEN CROWN and ORNATE.
The Bangkok exhibition, recognised as a key Asian gathering for the tyre industry, brought together resources from the tyre sector, automotive aftermarket and related supply chains. This provided ZC Rubber with a strategic platform to demonstrate its brand strength, exchange market intelligence and pursue deeper regional cooperation.
Among the six brands on display, WESTLAKE and GOODRIDE drew particular interest from professional visitors due to their dependable performance and wide market adaptability. The additional presence of CHAOYANG, TRAZANO, GOLDEN CROWN and ORNATE further broadened the company’s ability to address varied market segments and customer applications. A major highlight was the X-Elite commercial tyre series, launched in 2025, which has already entered multiple overseas markets and gained strong recognition from fleets, dealers and end users for its durability, mileage and resilience in demanding conditions.
Representatives from Thailand’s Ministry of Energy visited the ZC Rubber booth during the show, learning about the company’s brand structure, product uses and Asian market development. Their visit underscored local interest in tyre industry and supply chain progress, reinforcing ZC Rubber’s commitment to deepening its Southeast Asian presence. Moving forward, the company plans to leverage its multi-brand strategy, comprehensive product lineup and global service capabilities to deliver high-value tire solutions and unlock further growth opportunities across the region.
Shen Haoyu, Senior Vice President, ZC Rubber, said, “Asia is a key part of ZC Rubber’s global strategy. Through international platforms such as TyreXpo Asia, we are able to listen more closely to our customers while demonstrating to global partners ZC Rubber’s confidence, upward momentum and strength to grow with the market.”
Justin Cui, Asia Sales Director, ZC Rubber, said, “The Southeast Asian market is highly dynamic and continues to raise expectations for product adaptability and service responsiveness. We will continue to strengthen local market engagement, work closely with our partners and seize new growth opportunities together to create greater value for users across the region.”
Apollo Tyres reported a 14 percent rise in fourth-quarter revenue, supported by strong demand in India’s replacement and original equipment segments.
The tyre maker said consolidated revenue from operations for the quarter ended March 2026 rose to INR 73.36 billion from INR 64.24 billion a year earlier. Operating profit increased 28 percent to INR 10.69 billion, while net profit rose to INR 6.31 billion from INR 1.85 billion in the corresponding quarter last year.
The company said the latest quarterly profit included the estimated after-tax impact of restructuring and impairment charges of INR 3.38 billion, disclosed as exceptional items, as well as a one-off tax reversal of INR 5.74 billion linked to the adoption of a concessional tax regime.
For the full financial year ended March 2026, consolidated revenue increased 9 percent to INR 284.71 billion from INR 261.23 billion a year earlier. Operating profit rose 16 percent to INR 41.43 billion, while net profit stood at INR 13.72 billion compared with INR 11.21 billion in the previous year.
Apollo Tyres said its Indian operations delivered their highest-ever quarterly revenue during the period. Truck and bus radial tyre sales grew by more than 20 percent in the fourth quarter.
Onkar Kanwar, chairman of Apollo Tyres, said performance in India remained “robust”, particularly in the replacement and original equipment segments, while European operations were in line with prevailing market conditions. He added that geopolitical tensions in West Asia continued to pose challenges, although the company remained optimistic about demand momentum in India, supported by positive rural sentiment.
Apollo Tyres Posts 14% Rise In Q4 Revenue
Apollo Tyres reported a 14 percent rise in fourth-quarter revenue, supported by strong demand in India’s replacement and original equipment segments.
The tyre maker said consolidated revenue from operations for the quarter ended March 2026 rose to INR 73.36 billion from INR 64.24 billion a year earlier. Operating profit increased 28 percent to INR 10.69 billion, while net profit rose to INR 6.31 billion from INR 1.85 billion in the corresponding quarter last year.
The company said the latest quarterly profit included the estimated after-tax impact of restructuring and impairment charges of INR 3.38 billion, disclosed as exceptional items, as well as a one-off tax reversal of INR 5.74 billion linked to the adoption of a concessional tax regime.
For the full financial year ended March 2026, consolidated revenue increased 9 percent to INR 284.71 billion from INR 261.23 billion a year earlier. Operating profit rose 16 percent to INR 41.43 billion, while net profit stood at INR 13.72 billion compared with INR 11.21 billion in the previous year.
Apollo Tyres said its Indian operations delivered their highest-ever quarterly revenue during the period. Truck and bus radial tyre sales grew by more than 20 percent in the fourth quarter.
Onkar Kanwar, chairman of Apollo Tyres, said performance in India remained “robust”, particularly in the replacement and original equipment segments, while European operations were in line with prevailing market conditions. He added that geopolitical tensions in West Asia continued to pose challenges, although the company remained optimistic about demand momentum in India, supported by positive rural sentiment.
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