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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Sri Trang Agro-Industry Public Company Limited (STA) has been named a Sustainability Yearbook Member in the Auto Components category for the first time. The recognition took place on 11 May 2026 at the S&P Global Sustainability Yearbook Distinction Ceremony hosted by S&P Global at the Eastin Grand Hotel Phayathai, where Thai companies featured in the Sustainability Yearbook 2026 were celebrated. From over 9,200 firms assessed in the 2025 Corporate Sustainability Assessment (CSA), only 848 earned Yearbook membership.

STA’s inclusion highlights its strengths in the Social Dimension, particularly human rights, occupational health and safety and employee development. Environmentally, the company has committed to achieving net zero greenhouse gas emissions by 2050, with a short-term target of reducing Scope 1 and 2 emissions per product unit by 10 percent by 2026, compared to the 2021 baseline.

The S&P Global assessment reaffirms STA’s leadership in the integrated rubber industry under its Sri Trang Green Rubber vision. The company drives product quality while managing environmental, social, governance and emerging risks, thereby creating stakeholder value and strengthening trust among partners and consumers.

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American tyre brand General Tire has released a new all-season tyre aimed at drivers who refuse to compromise between on-road precision and off-road toughness. The Grabber Cross A/S achieves this balance by marrying an unusually stiff tread pattern with a rubber mix explicitly formulated to resist cutting and chunking on harsh terrain.

For drivers who spend time on rocky or uneven terrain, the tyre’s hexagonal tread blocks deliver grip through sharp biting edges, while chamfered groove edges further boost off-road traction. A highly resistant crossover compound protects against tread damage on rough ground. Meanwhile, transverse and longitudinal sipes carved into the blocks provide wet and snowy road grip, and an open shoulder design rapidly channels water away to prevent aquaplaning. On dry roads, internal support elements between the blocks create an extra-stiff tread that distributes pressure evenly, allowing precise steering and sustained high-speed running without sacrificing mileage. Importantly, that stiffness does not come at the cost of comfort, as the tyre also delivers low rolling noise and a smooth ride.

Certified for winter use, the Grabber Cross A/S carries both the M+S marking and the three-peak mountain snowflake symbol, the latter being mandatory in Germany and France since 2024. General Tire offers the model in 44 sizes spanning 16 to 22 inches in diameter, with top speed approvals reaching 240 kmph depending on the size. The tyre fits a broad range of two- and four-wheel-drive vehicles, including popular SUVs such as the VW Tiguan, KIA Sorento, Ford Kuga, Mazda CX 90 and Volvo XC90. An ‘EV Compatible’ sidewall logo also confirms its readiness for electric vehicles.

The Grabber Cross A/S is now reaching dealer shelves and service centres. According to the EU tyre label, this all-season 4x4 tyre earns a rolling resistance rating of C or D, a wet grip score of C and a B classification for rolling noise – positioning it as a versatile option for SUV and EV owners who want one tyre for all seasons.

Matthias Bartz, Business Development Manager for General Tire in Europe, the Middle East and Africa, said, "The Grabber Cross A/S is General Tire's entry into a new product segment. The tyre is designed for high speeds on fast roads but also offers excellent off-road performance in challenging terrain. With our extensive size portfolio, we can offer tyres for about 85 percent of the most popular crossover SUVs.”

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Portronics has launched a compact portable tyre inflator named the Vayu Nano, designed specifically to address the space constraints faced by bicycle and motorcycle commuters. Weighing just 185 grammes, the device easily fits into a jacket pocket, small bag or scooter storage compartment. Its matte-black finish and short 7.5-centimetre air hose make it suitable for two-wheelers and minor pressure top-ups rather than inflating car tyres from scratch.

The Vayu Nano delivers up to 120 PSI, sufficient for motorcycles requiring around 45 PSI, bicycles needing approximately 35 PSI and standard sports balls. It can fill a tyre from zero to 35 PSI in under five minutes. A digital display shows pressure in PSI or BAR alongside a battery indicator, while preset modes for various inflatables and a manual custom setting are included. An auto shut-off function stops the device once the target pressure is reached to prevent over-inflation.

Power comes from a dual 600 mAh battery setup with USB-C charging, allowing use with existing phone chargers or power banks. A built-in LED light features an SOS mode for low-light conditions. Priced at INR 4,999, the Vayu Nano is available at a launch price of INR 2,999. It comes with a 12-month warranty and can be purchased through the company’s website or at ecommerce websites and standard offline stores.

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Hankook Tire has secured the International Sustainability & Carbon Certification (ISCC) PLUS for its Jiaxing Plant in Zhejiang Province, China. This globally recognised voluntary certification verifies the sustainability of bio-based and recycled materials while ensuring full supply chain transparency. The certification imposes strict verification standards across every stage, from raw material sourcing and manufacturing to the final product output.

The Jiaxing facility’s achievement marks the company’s fourth ISCC PLUS certification. Hankook first earned the distinction for its Geumsan Plant in 2021, becoming the first in the tyre industry to do so. The Rácalmás Plant in Hungary followed in 2023, and the Daejeon Plant received certification in 2025. With this latest addition in China, Hankook has significantly expanded its sustainable manufacturing network across both Asia and Europe.

The Jiaxing Plant has enhanced its production capabilities by increasing the use of sustainable materials and optimising processes. It has established a stable system for products incorporating bio-based and recycled inputs, operating a quality management system based on the mass balance approach. Under its circular economy strategy named E.Circle, Hankook continues to raise the share of sustainable materials. For example, the iON evo tyre, supplied as original equipment for the Porsche Taycan, contains around 45 percent sustainable materials, while the iON GT for the European replacement market has raised that share to up to approximately 77 percent.

Hankook is also applying sustainable materials to tyres used in the FIA World Rally Championship and the ABB FIA Formula E World Championship, reinforcing its technology leadership in global motorsports. Through open innovation with global partners, the company is advancing low-carbon raw materials. Its sustainability efforts have earned it inclusion in the Dow Jones Sustainability Indices World and the highest EcoVadis rating. Looking ahead, Hankook plans to transform the Jiaxing Plant into a key sustainable manufacturing hub in China while continuously upgrading production systems across its global facilities to strengthen supply chain sustainability and ESG competitiveness.

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