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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Birla Tyres has officially joined the Automotive Tyre Manufacturers’ Association (ATMA), becoming the newest member of the leading industry body. The company, with its registered office in Kolkata, operates a large-scale manufacturing facility in Balasore, Odisha, which spans 195 acres and is dedicated to producing a diverse range of speciality tyres.

Based in New Delhi, ATMA represents major tyre manufacturers that account for more than 80 percent of domestic production. The association serves as a vital link between the government and the industry while also engaging with media, opinion leaders and international trade bodies to advocate for the sector’s perspectives.

ATMA actively participates in policy formulation and regularly consults with government departments on economic challenges affecting the industry. Its existing membership includes prominent firms such as MRF Tyres, JK Tyre & Industries, CEAT Ltd and Bridgestone India, the local subsidiary of the Japanese tyre giant.

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Bridgestone has reported a significant shift in UK consumer sentiment regarding electric vehicles, with new data indicating a sharp rise in drivers who reject the technology. The tyre manufacturer's survey reveals that 26 percent of motorists now declare they will never purchase an EV, up from 17 percent in 2025, while only 16 percent plan to acquire one within the coming year.

Persistent operational anxieties continue to overshadow the market. Battery durability and replacement costs trouble 55 percent of respondents, half worry about charging expenses and 44 percent express unease over range limitations and high sticker prices.

Infrastructure inadequacies further compound hesitancy, as 43 percent feel public charging stations remain insufficient and 41 percent are deterred by prolonged recharging times. Despite these barriers, 53 percent anticipate purchasing an EV within five years, while seven percent remain undecided.

Bridgestone is reinforcing its commitment through 'EV Ready' tyres like the Turanza 6, engineered for efficiency, safety and wear life across electric and combustion vehicles. These innovations align with the company's E8 Commitment and Ecology pillar, advancing sustainable tyre technologies and mobility solutions.

Drew Chapman, North Region Consumer Sales Director at Bridgestone, said, "Electric vehicles are becoming an increasingly familiar sight on our roads, but our research shows that many drivers still have genuine questions and concerns about making the switch. While some of the barriers are gradually reducing, issues such as battery life, charging costs and infrastructure remain front of mind for many motorists. The industry has made significant progress, but it's clear there is still work to do in building confidence among consumers.

"Whether drivers are behind the wheel of an EV, hybrid or conventional vehicle, they want products they can trust. Our focus is on helping motorists get the very best from their vehicles today while supporting the mobility solutions of tomorrow."

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The Yokohama Rubber Co., Ltd. has secured its place in three major global ESG stock indexes, marking over two decades of sustained recognition in sustainable investing. The company’s inclusion in the FTSE4Good Index Series now extends to 22 consecutive years, while its presence in the FTSE JPX Blossom Japan Index has reached a 10th year and the Sector Relative Index a 5th year.

Developed and administered by FTSE Russell, a London Stock Exchange Group subsidiary, these benchmarks serve distinct investment purposes. The FTSE4Good Series is widely utilised by international investors as a reference for responsible portfolios. Meanwhile, the two Japan-specific indexes, designed to highlight domestic firms with exemplary ESG performance, have been adopted by the Government Pension Investment Fund to steer its own sustainable asset allocation.

Under the corporate sustainability motto of caring for the future, Yokohama Rubber continues to integrate social problem-solving into core business operations, thereby generating shared value. This longstanding index qualification reflects the firm’s consistent commitment to transparent governance, environmental stewardship and social responsibility, reinforcing its strategic focus on long-term value creation through ethical business conduct.

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Apollo Tyres Ltd has launched the Apollo Altrust Winter van tyre, a new addition to its commercial vehicle lineup engineered to deliver extended durability alongside reliable snow and wet-weather traction. Scheduled for European release in July 2026, this winter variant finalises the Altrust family, which already includes the popular summer and all-season iterations.

Developed entirely within Europe, the tyre achieves a top wet grip classification of ‘A’ and a noise rating of ‘B’ at 72 decibels. Offered in 15 size options across 15- to 17-inch rim diameters, the Altrust Winter is designed to accommodate a broad spectrum of vans and light commercial vehicles, including contemporary models such as the Ford Transit, Mercedes Sprinter and IVECO Daily.

Superior handling on snow, ice and rain-soaked roads stems from several engineering innovations. A multi-pitch tread pattern optimises block sizing and spacing for consistent performance, while three-dimensional sipes enhance road biting capability. Additionally, the centre and shoulder lateral grooves have been strategically configured for swift water dispersal, which bolsters wet grip and lessens aquaplaning risks.

For fleet operators, longevity and reduced wear are critical to lowering total cost of ownership. Apollo’s research division formulated a compound with a balanced polymer-and-filler mix to boost abrasion resistance and curb material degradation. Reinforced shoulder tie-bars preserve a stable contact patch under heavy use, promoting even tread wear and sustaining all-weather effectiveness over the tyre’s lifespan. Noise management was also prioritised, with careful tuning of pitch sequences and shoulder block bridges to minimise acoustic output.

Udyan Ghai, Group Head – Marketing, Apollo Tyres Ltd, said, “Our research and development team in Enschede, The Netherlands, spent over two years exploring the needs of van owners and users, creating a winter van tyre that delivers an optimal balance of performance and value. They focused on those attributes that matter most to fleet operators and van drivers: safety, durability and low operating costs. We know that wet-weather performance is becoming increasingly important for operators across Europe, so we are particularly pleased to see the tyre secure an A rating for wet grip.”

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