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)
AZuR Closes Applications For LOOP THE TYRE 2026 Startup Competition
- By TT News
- May 21, 2026
The Alliance for the Future of Tires (AZuR) has closed the application phase for its startup competition, LOOP THE TYRE 2026, as of 15th May. Innovative project teams and startups from Germany, Austria and the Netherlands submitted a range of forward-looking concepts focused on advancing the sustainable tyre circular economy. The entries collectively highlight a strong innovation potential within the industry.
The submitted projects cover a wide technical spectrum, including advanced devulcanisation and recycling processes, functionalised recyclates for new tyre production and artificial intelligence solutions for quality control and tyre sorting. Other notable concepts feature chemical-free rubber waste recycling methods and novel applications for used tyres in flood control, infrastructure management and disaster relief. This diversity underlines the growing role of new technologies and business models in fostering a climate-friendly circular economy.
An independent expert jury, comprising Dr Danka Katrakova-Krüger from TH Cologne, AZuR network coordinator Anna-Maria Guth, Dr Ulrich Giese of the German Institute for Rubber Technology and Stephan Rau from the German Rubber Industry Association (wdk), is reviewing all submissions. The winners are scheduled to be determined by 1 June 2026.
Regardless of the outcome, AZuR has invited all participants to the awards ceremony at THE TIRE COLOGNE 2026 on 11 June at 2 pm. The winning startups will receive a total prize money of EUR 6,000 and a free two-year AZuR partnership, granting access to the Europe-wide network and increased industry visibility. Through LOOP THE TYRE, AZuR continues to promote business ideas and technologies that extend tyre material life cycles, conserve resources and reduce carbon emissions.
Tegeta Holding And Tegeta Green Planet Lead Major Restoration Of Rustavi Riparian Forest
- By TT News
- May 21, 2026
Tegeta Holding and Tegeta Green Planet have joined a large-scale greening campaign to restore the Rustavi riparian forest along the Mtkvari River. The initiative, implemented in partnership with Rustavi City Hall and Georgia’s Ministry of Environmental Protection and Agriculture, aims to rehabilitate one of the city’s most vital ecological zones.
During the latest phase of the project, employees of Tegeta Holding took part in tree planting alongside volunteers, while representatives of Tegeta Green Planet engaged participants in discussions on circular economy principles and environmental responsibility. The first stage of the restoration plan includes planting 10,000 endemic trees and plants, funded by the Environmental Protection Fund.
The Rustavi riparian forest, stretching approximately 300 hectares between the old and new bridges, serves as a natural air filtration zone for the city’s industrial area and hosts around 140 bird species. Beyond restoring native flora, the project also envisions developing picnic and tourist infrastructure, with active involvement from local youth, athletes, actor, and private sector members as part of corporate social responsibility efforts.
Parallel to the greening campaign, Tegeta Holding launched an internal Green Challenge for its employees, organising a paper collection point at its headquarters and across its branches. Nearly one tonne of waste paper was collected and sent to a recycling partner, saving an estimated 15 trees. The holding also recognised the most eco-friendly branch and department as part of the initiative.
Dedicated to Earth Day and its 2025 slogan ‘Our Power, Our Planet’, Tegeta has now participated in the riparian forest restoration for three consecutive years. Volunteers previously planted 3,000 saplings, and this year’s efforts have expanded significantly. The Green Challenge has also become an annual tradition, with over three tonnes of waste paper collected to date. In exchange, the company receives books donated to rural libraries for children.
Environmental protection remains a strategic pillar of Tegeta Holding’s corporate social responsibility. Together with Tegeta Green Planet, the company collects thousands of tonnes of automotive waste annually, including tyres, batteries and oils, for compliant recycling. It is also expanding its electric vehicle charging network, using hybrid and electric vehicles in its fleet, installing solar panels and running customer engagement campaigns such as ‘Don’t Throw It Away – Recycle It’, alongside cleaning, greening and youth education initiatives.
Mariam Japaridze, Corporate Social Responsibility Coordinator, Tegeta Holding, said, “Environmental protection and raising public awareness are among the strategic pillars of Tegeta’s corporate sustainability efforts. We are pleased that tree planting has become part of a project that aims to bring new life to the Rustavi riparian forest. Tegeta has extensive experience supporting similar initiatives. It is especially important for us that Tegeta employees themselves participated in the project. We are proud to contribute both to the greening of Rustavi and the improvement of its ecosystem, as well as to strengthening an internal organisational culture focused on collecting and recycling paper waste.”
Shalva Akhvlediani, Director, Tegeta Green Planet, said, “The activities of ‘Tegeta Green Planet’ are directly connected to environmental protection. The company’s mission is the management of specific waste streams, including recycling, recovery and processing. Alongside recycling environmentally harmful waste, we actively support initiatives focused on greening, forest restoration and ecosystem improvement. The Rustavi riparian forest once played a vital role in the life of the city, but the situation changed in the 1990s: the forest was cut down, biodiversity deteriorated and the ecosystem was damaged. At ‘Tegeta Green Planet,’ we fully understand our responsibility in helping restore this area to its original condition. We hope that such an important and large-scale project will continue in the future.”
Zeon To Boost DCPD Production Capacity By 20 Percent At Mizushima GPI Facility
- By TT News
- May 21, 2026
Zeon Corporation has announced a strategic investment to expand production capacity for dicyclopentadiene (DCPD) at its GPI plant, located within the Mizushima Plant in Kurashiki City, Okayama Prefecture. The initiative will raise DCPD output by roughly 20 percent from current levels. DCPD serves as the primary raw material for Cyclo-Olefin Polymers and COP optical film, which are central to the company’s C5 business and its growth trajectory. The new facility will secure a stable DCPD supply without boosting production of piperylene or other commodity chemical materials while also utilising previously unused components to help reduce carbon dioxide emissions. Construction is set to begin in the second half of fiscal 2026, with completion scheduled for September 2028.
The Mizushima Plant, Zeon’s flagship facility, commenced operations in 1969 and is known for the GPI process (Geon Process of Isoprene), the company’s proprietary extractive distillation technology that isolates high-purity active components from C5 fractions in naphtha. Products from this process include isoprene, DCPD, piperylene and 2-butyne, which are used in synthetic rubbers, COP, petroleum resin and synthetic aroma chemicals.
Under the company’s STAGE30 medium-term business plan, Zeon has positioned COP and COP optical film as key growth drivers, anticipating steadily expanding demand. DCPD is also a raw material for other high-profit products such as RIM compounds. To meet rising demand without procuring additional C5 fractions, Zeon developed a technology that enables the use of previously unused feedstock components. This new process is expected to cut CO2 emissions more effectively than conventional extraction methods, supporting carbon neutrality goals.
Through STAGE30, Zeon is restructuring its portfolio via selection and concentration, and this latest investment aims to boost competitiveness while further expanding the C5 business. The company continues to address market needs and societal expectations, striving to contribute to more comfortable living standards worldwide.
Apollo Tyres Launches Rural Mobile Store To Bridge Rural Tyre Connectivity Gap
- By TT News
- May 21, 2026
Apollo Tyres Ltd has launched its first Apollo Rural Mobile Store, a new initiative aimed at improving last-mile connectivity and tyre access in rural India. The fully equipped mobile van was flagged off by company Vice President Rajesh Dahiya at a special event.
The customised vehicle travels to villages, allowing customers to explore and purchase tyres without long journeys. Stocked with a curated product range and staffed by trained representatives, the mobile store offers on‑the‑spot guidance on tyre selection, usage and maintenance. The first unit began operating in Pandavapura village, Mandya, Karnataka, with plans to deploy 25 such stores nationwide over the next 18 to 24 months.
The launch event also included a free health check‑up camp organised with the Apollo Tyres Foundation, underscoring the company’s community commitment. By combining convenience with expert support, the mobile store aims to empower rural customers to make informed decisions for safe and efficient vehicle operation.
Rajesh Dahiya, Vice President – Commercial, Apollo Tyres Ltd, said, “This initiative reflects our commitment to bridging access gaps in rural markets. By bringing our products and expertise directly to the customers’ doorstep, we aim to simplify the buying journey and ensure that even the most remote communities have access to the right mobility solutions.”
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