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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Hankook Tire has underscored the competitiveness of its winter and all-season portfolio through strong showings in two recent independent assessments. The Kinergy 4S 2 all-season tyre and the Winter i*cept RS 3 winter tyre both earned top-tier results in tests conducted by Auto Zeitung, in its issue 20/2026, and by the Automobilclub von Deutschland (AvD) in August 2026. The evaluations positioned the manufacturer’s products favourably across multiple performance and economic criteria.

In the Auto Zeitung all-season comparison, the Kinergy 4S 2 was assessed in the widely used 225/45 R 17 fitment and received the publication’s ‘Highly recommended’ designation. The tyre demonstrated notable composure on snow, with predictable cornering behaviour that testers described as making it a comfortable winter-capable option. It also excelled in aquaplaning resistance while cornering and recorded the quickest wet-handling lap on the circular track. On dry surfaces, the editorial team noted trouble-free behaviour at the limits, solid projected mileage, and strong value for money.

The AvD’s 2026 all-season test delivered similarly positive outcomes. Evaluated in size 225/50 R 17, the Kinergy 4S 2 claimed the best value-for-money ranking and performed strongly in the economy and environment category, earning 4.78 out of five stars overall. It achieved five stars each for mileage and fuel consumption, along with 4.9 stars for tyre wear. Against a twelve-tyre field, it also placed highly for aquaplaning and aquaplaning in curves, securing 4.20 stars in the final ranking and an overall ‘Good’ rating.

Separately, the Winter i*cept RS 3, tested in 225/45 R 17, received an overall ‘Good’ verdict with 4.26 stars in the AvD winter tyre evaluation. It performed particularly well in snow braking and traction, scoring 4.4 and 4.3 stars, and in aquaplaning in curves and straight-line aquaplaning, with 4.5 and 4.4 stars. The tyre also earned 4.43 stars across economic and environmental criteria, including 4.6 stars for weight and 4.5 stars each for fuel consumption, mileage and tyre wear.

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Bridgestone Corporation has confirmed it will become the exclusive tyre supplier for the ABB FIA Formula E World Championship, the foremost all-electric motorsport series, beginning with the 2026/27 season. The announcement positions the Japanese manufacturer at the centre of a championship that has grown into a global platform for electric racing since its founding in 2014.

The forthcoming season will mark the competitive debut of the GEN4 car, a machine that redefines performance boundaries. With permanent active All-Wheel Drive, remarkable torque and acceleration, the GEN4 reaches 100 kmph in 1.8 seconds and attains a top speed of 335 kmph, while producing a peak output of 815 bhp. These figures make it the quickest and most potent Formula E vehicle ever built.

(From left) Emilio Tiberio (WEST CTO, Bridgestone), Jeff Dodds (CEO, Formula E), Yasuhiro Morita (Global CEO and Representative Executive Officer, Bridgestone), Marek Nawarecki (Senior Circuit Sport Director, FIA) and Hiroshi Imai (Executive Officer, CPO, Global Motorsports, Bridgestone)

To harness this performance, Bridgestone has engineered the POTENZA GEN4 tyre, designed to deliver high grip, broad adaptability across varied road and weather conditions and durability that sustains performance throughout a race. A second specification, the POTENZA GEN4 for TYPHOON TYRE, has also been created to ensure stable handling and strong grip when heavy rain leaves substantial water on the track.

Sustainability features prominently in the tyre programme. Each GEN4 tyre incorporates a 65 percent allocation of recycled and renewable materials, including carbon black recovered from pyrolysis oil of end-of-life tyres and silica derived from rice husks. Natural rubber is drawn from supply chains subject to Bridgestone due diligence, compliant with the GPSNR Assurance System and verified by an independent third party. Manufacturing uses 100 percent renewable energy for both heat and electricity, while low-carbon logistics help curb CO₂ emissions, with chemical recycling of end-of-life tyres among wider value-chain initiatives pursued alongside partners.

Formula E, governed by the FIA, has expanded rapidly through street races in cities such as Monaco, Sao Paulo, Sanya and Tokyo, alongside traditional circuits. Its digital engagement and programmes such as FIA Girls on Track have helped build a fan base exceeding 400 million. Committed to Making Progress Thrilling, the championship demonstrates that electric racing can drive measurable change rather than merely inspire.

The Bridgestone Formula E World Premiere, held in Rome on 30 September ahead of the 2026/27 season, drew representatives from the FIA, Formula E, teams, drivers, international media and influencers. Global CEO Yasuhiro Morita shared his enthusiasm for the entry, while Chief Product Officer for Global Motorsports Hiroshi Imai and WEST Chief Technology Officer Emilio Tiberio detailed the tyre technology behind the GEN4. The new Bridgestone motorsport logo and design elements appeared on the GEN4 tyres for the first time, and Bridgestone’s Technical Center Europe subsequently offered demonstrations of the production site and the development work of engineers and test drivers.

Bridgestone will supply tyres for all races in the 2026/27 Season and will also serve as the title sponsor for the following four races:

Yasuhiro Morita, Global CEO and Representative Executive Officer, Bridgestone Corporation, said, “Our return to the FIA World Championship is an exciting re-entry that embodies Bridgestone’s history of passion and innovation. Under our Mission ‘Serving Society with Superior Quality’, we have continued to push the limits with an insatiable quest for performance and a sense of responsibility for a better future through motorsport activities. On the supreme stage of Formula E, we will further evolve the balance of performance and sustainability and pioneer a new future for mobility. Together with organisers, teams, drivers, partners and fans, we look forward to creating a new future.”

Jeff Dodds, CEO, Formula E, said, “We are delighted to welcome Bridgestone to Formula E as our sole tyre supplier for the 2026/27 Season and beyond. Combining rich motorsport heritage with cutting-edge sustainable innovation, Bridgestone is a fitting partner as we embark on this exciting new era. The GEN4 car represents the pinnacle of sustainable motorsport design, and we look forward to working with Bridgestone as we continue to redefine electric racing and lead the race for progress both on and off the track.”

Marek Nawarecki, Senior Circuit Sport Director, FIA, said, “Bridgestone’s appointment as the sole tyre supplier for the ABB FIA Formula E World Championship marks an exciting new chapter as we enter the GEN4 era. The tyres will play a key role in delivering the performance and efficiency expected from this new generation of Formula E cars. Building on the collaboration already established during the development of the GEN4 tyres, we look forward to continuing this work with Bridgestone, Formula E and the teams to deliver tyres that meet the demanding requirements of the ABB FIA Formula E World Championship and contribute to close, competitive racing for drivers and fans.”

Hiroshi Imai, Executive Officer, CPO, Global Motorsports, Bridgestone Corporation, said, “We are truly delighted to showcase Bridgestone’s technology and passion to the world on the new stage of Formula E. In developing POTENZA GEN4, we pushed the limits of our technology to fully unlock the overwhelming performance of GEN4. In particular, the newly introduced POTENZA GEN4 for TYPHOON TYRE represents a symbolic evolution for the GEN4 era, enabling drivers to confidently take on even wet conditions. By supporting the dramatically evolved GEN4 from the ground up, we are also advancing initiatives towards carbon neutrality and resource circulation, striving to realise sustainable motorsport. We will continue to deliver the superior quality to circuits around the world, bringing new excitement and inspiration to racing fans worldwide.”

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Kumho Tire USA celebrated a strong result at Round Seven of the Formula DRIFT PRO Championship, where KUMHO driver Jack Shanahan drove his E82 BMW to a third-place finish at The Bullring at Las Vegas Motor Speedway on KUMHO Ecsta V730 tyres. The Las Vegas podium was Shanahan’s third of the season, following a third-place result at the Streets of Long Beach opener and a second-place finish at Round Four in Stafford Springs, Connecticut.

After qualifying sixth, Shanahan advanced through the main competition by defeating Jhonnattan Castro in the Top 32, Ryan Tuerck in the Top 16 and Chris Forsberg in the Great 8. In the Final 4, he faced his younger brother, Conor, in a close battle that ended when Jack dropped two tyres off course in Zone 4. Despite the narrow loss, he remains fourth in the standings with one round left in Long Beach, California, on 23–24 October.

The KUMHO Ecsta V730 is an extreme-performance summer tyre designed for exceptional grip, responsiveness and consistency under demanding track conditions, making it a proven option for competitive motorsports and enthusiast drivers.

Ed Cho, CEO, Kumho Tire USA, said, "Jack's performance this season continues to demonstrate not only the determination and skill of our drivers but also the reliability of KUMHO tyres. In high-pressure situations, our drivers can rely on KUMHO tyres to deliver the traction, responsiveness and control they need to compete at their best."

Shanahan said, "It's been an exciting season, and I'm proud to have secured another podium finish with the consistent performance of the KUMHO Ecsta V730 tyres. The team and I are looking forward to carrying this momentum into the final round next month and fight for the Championship podium."

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Shalva Akhvlediani, Director of Tegeta Green Planet, took part in a training course titled ‘Circular Economy and Sustainable Business Models’, organised by the UN Global Compact Network Georgia on 17 September. He presented his organisation’s practical experience in applying circular economy principles and sustainable business models to the participants.

Tegeta Green Planet serves as Tegeta Holding’s environmental arm and operates as an Extended Producer Responsibility (EPR) organisation in Georgia. It focuses on collecting and recycling specific waste streams, including used tyres, waste oils and automotive batteries. Its work is grounded in circular economy principles, aiming to improve waste management, convert waste into resources and lessen environmental harm.

The UN Global Compact Network Georgia delivered a 10-hour training course across 16 and 17 September, designed to give businesses practical knowledge about circular economy principles and sustainable business models. Participants explored core circular economy concepts, ways to integrate them into business operations, modern waste management approaches, circular business models and Life Cycle Assessment (LCA) for products and materials. Giorgi Berechikidze, Environmental Manager at the UN Global Compact Network Georgia, led sessions on these main topics, offering practical approaches to circular economy, waste management and LCA.

International perspectives were provided online by Anders Ladefoged, a member of the European Economic and Social Committee (EESC) and representative of the European Circular Economy Stakeholder Platform (ECESP), who discussed European circular economy standards, and Dr Silke Megelski, a circular economy advisor at Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), who presented the Circular City Lab approach and deposit return system pilot experiences in Georgia. The course concluded with certificates for participants, supporting the spread of practical knowledge and resource-efficient, sustainable, circular business models.

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