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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Michelin has strengthened its retail presence in India by launching two Michelin Tyres & Services outlets in Delhi, located in Dwarka and Karol Bagh. The openings make Michelin's premium tyre range, including the Made-in-India Primacy 5, accessible to customers in west and central Delhi, alongside professional fitment and tyre care. The Dwarka facility was inaugurated by Benjamin Coesnon, Marketing Director India.

The Dwarka outlet, operated with Excellent Tyres, covers 1,500 sft and caters to one of Delhi's largest planned residential sub-cities and its expanding south-west corridor. Excellent Tyres, established in 1994, brings over 30 years of experience in the capital's tyre trade. Meanwhile, the Karol Bagh store, run with Rana Tyres, spans 1,000 sft in a prominent automotive trade hub. Founded in 1977 and now led by its third generation, Rana Tyres contributes nearly five decades of technical knowledge and a loyal clientele.

The expansion reflects Michelin's sustained commitment to India. Its distribution network now exceeds 800 points of sale, while over INR 28 billion has been invested in the Chennai manufacturing plant. A further INR 6.86 billion went into a passenger car tyre line that now produces the Primacy 5 for Indian buyers. The new stores aim to deliver safer, more durable and higher-performing mobility.

Shantanu Deshpande, Managing Director, Michelin India, said, " Delhi is one of the largest premium car markets in the country. Expanding our presence in Delhi will provide accessibility to today's customers and serve the next wave of premium car owners. With the Made-in-India Primacy 5 now available at these stores, customers in the capital can get Michelin's globally benchmarked safety and longevity, backed by expert service from trusted partners. India remains a key growth market for Michelin, and Delhi is central to how we continue to build our presence."

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Pirelli has completed the renewal of its winter range with the Scorpion Winter 3, a tyre developed for SUVs in cold-weather conditions. That segment now accounts for more than half the global market and brings distinctive traits, notably greater weight and a higher centre of gravity, which demand dedicated internal structures and tread patterns.

The result is a tyre balancing performance across the many conditions of winter, from snow and wet roads to dry asphalt. It overcomes a traditional winter tyre compromise, giving SUV drivers consistent strength even in demanding situations, a claim already supported by a first independent test that ranked it best among its competitors. At launch, every size carries an A wet-grip rating on the EU tyre label, with noise between classes A and B. For the growing electric and plug-in hybrid portion of this segment, Pirelli also offers Elect technology, engineered specifically for those powertrains.

Development began with how tyres behave under heavy loads. The contact patch was redesigned to optimise pressure peaks, critical for mileage and even wear on heavy vehicles. This produced the generation's first major innovation: as the tread wears, the active edges within the contact patch, and therefore snow and wet grip, stay consistent over time. A dedicated carcass and tread design were likewise engineered for high vehicle weights.

The tread geometry adopts several Cinturato Winter 3 solutions, that tyre having recently won a test by the independent German association ADAC. These include a zigzag central groove for water evacuation and lateral snow grip, patented Snow Keeper Teeth that retain snow in the grooves to exploit snow-on-snow contact, and a high void ratio that aids snow and wet performance while countering aquaplaning. SUV-specific additions include stiffer tread blocks for handling and wear resistance under load, plus calibrated sipe density to preserve dry-road behaviour.

The compound draws on P Zero Winter 2 experience, using specific polymers such as Dual-Core Polymer, whose dual mechanism improves grip across conditions, while plasticisers broaden the operating temperature range. Engineers at Bicocca made extensive use of advanced Virtual Development techniques, simulating variables for precise results while cutting development time and prototypes, and driving simulators from static to dynamic helped target dry handling and enjoyment. The Pirelli Sottozero Center in Swedish Lapland enabled year-round snow and ice testing, partly indoors.

Launching in 30 sizes from 18 to 22 inches, the tyre offers Elect technology, which can raise electric and plug-in hybrid range by up to 10 percent, the Pirelli Noise Cancelling System that reduces perceived cabin noise via internal sound-absorbing material and Seal Inside for pressure retention after external punctures. It joins the Scorpion family begun in 1986 for high-riding vehicles and first fitted to the Lamborghini LM002, now spanning summer, winter and all-season road and off-road products with a strong original equipment focus. It adds to more than 1,200 homologations, including bespoke work for Aston Martin, Porsche, Lamborghini, Lotus, Audi, BMW, JLR and NIO. With winter tyre or snow chain rules starting 15 November, it completes a Winter range fully renewed over two years, alongside P Zero Winter 2 and Cinturato Winter 3.

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Tyres Europe has joined 44 European organisations in backing a joint statement spearheaded by European Metals, which urges EU Member States to endorse a more rapid and robust application of the bloc’s trade defence arsenal. The statement advocates for extra personnel within DG TRADE’s trade defence units and greater reliance on existing instruments while pressing the Commission to introduce a fresh policy toolkit targeting state-driven market distortions.

For the tyre industry, these concerns carry direct consequences. European tyre production remains capital-intensive, encompassing over 70 plants, including retreading operations, alongside roughly 20 research and development centres. Of the 398 million tyres newly fitted across the EU in 2024, approximately 40 percent originated beyond the Union’s borders. In recent tyre proceedings, trade patterns evolved more swiftly than the EU could respond, both prior to and following the imposition of measures.

On 5 October, Tyres Europe published its position paper, ‘Towards a more effective EU Trade Defence Policy’, outlining its recommendations. Mirroring the joint statement, the paper requests additional resources for DG TRADE and advocates launching work on a new instrument designed to tackle systemic distortions.

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Sri Trang Group, the world’s largest fully integrated natural rubber company and the parent organisation of Sri Trang Agro-Industry Public Company Limited (STA) and Sri Trang Gloves (Thailand) Public Company Limited (STGT), concluded its flagship ‘One Sri Trang CG Day 2026’ initiative, built on the premise that strong governance underpins sustainability. The hybrid programme combined online participation with interactive training, drawing over 1,070 attendees, including directors, executives, staff and factory workers nationwide. Artificial intelligence made the material more engaging and accessible. Topics spanned business ethics, anti-corruption compliance, conflict-of-interest management, inside information handling and complaint procedures – framed as the bedrock of transparent operations that earn stakeholder trust.

Direction came from STA Executive Director Vitchaphol Sincharoenkul and STGT Chief Executive Officer Jarinya Jirojkul, who outlined the Group's governance policies and strategic priorities. Those policies provide guardrails for transparency, risk prevention, traceability and sustainable expansion, consistent with the organisation's vision and commercial goals. Both stressed that a culture of integrity and responsibility, grounded in Sri Trang's core values, buffers against pressures ranging from economic and technological disruption to natural disasters and competitive threats.

Rather than conventional lectures, organisers chose edutainment. A two-part miniseries, ‘The Domino Effect’, walked participants through real-world dilemmas in procurement, gift-giving and business hospitality, illustrating how conflicts of interest, misuse of inside information and whistleblowing cascade into consequences. AI-generated content added another layer, with virtual characters and simulated videos addressing code-of-conduct compliance, corruption, whistleblowing and complaint investigations. These dramatised situations helped staff grasp the fallout of poor decisions and recognise the right course of action, showing how AI can strengthen governance culture and broaden learning participation.

An interactive live quiz and discussion segment gave participants room to unpack scenarios and draw lessons on ethical decision-making, tied to the Group's code of business conduct and anti-corruption policy. The session reinforced the expectation that gifts be declined on all festive occasions and highlighted whistleblowing channels designed to safeguard reporters and keep identities confidential. Beyond the event, Sri Trang Group plans to continue the programme via its online self-learning platform, targeting full completion of refresher training and knowledge assessments within a month.

The effort dovetails with external benchmarks, including requirements of Thailand's Private Sector Collective Action Against Corruption, notably its top three-star CAC Change Agent status, alongside domestic and international ESG assessment standards. By tying its internal training push to these frameworks, Sri Trang Group signals that governance is not a one-off exercise but an ongoing commitment woven into how the organisation operates.

Highlighting the importance of corporate governance in global trade, Sincharoenkul said, “Transparency and good corporate governance are fundamental to business credibility, particularly within global supply chains, where stakeholders increasingly priorities raw material origins, traceability and responsible operations. Sri Trang Group is therefore committed to raising operational standards across every process so that our business partners, customers and stakeholders worldwide can be confident that every product comes from a transparent, traceable supply chain that supports our shared sustainable growth.”

Elaborating on the importance of instilling ethical awareness among employees, Jirojkul said, “Building confidence among customers worldwide depends on more than product quality. It also depends on the integrity, responsibility and commitment of every employee to doing what is right. STGT therefore prioritises embedding a corporate governance mindset into everyday work, because every action we take affects the trust that customers and stakeholders place in our organisation. When everyone upholds the same principles, we can deliver both quality products and lasting confidence to customers around the world.”

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