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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Partnership targets passenger car radial tyres, with new plant planned and joint venture agreement due by 2030.

Balkrishna Industries (BKT), the Indian maker of off-highway tyres, has agreed to establish a 50:50 joint venture with Italian tyre manufacturer Pirelli to manufacture passenger car tyres in India, as both companies seek to expand their presence in the market.

BKT and Pirelli signed a framework agreement on Thursday setting out the proposed venture’s structure and timelines, alongside separate agreements covering tyre manufacturing and technical support, according to a stock exchange filing by BKT.

The proposed joint venture will manufacture passenger car radial (PCR) tyres under the Pirelli and BKT brands and establish a new manufacturing plant in India. The partners intend to share the venture’s manufacturing capacity equally, with each nominating two directors to a four-member board and the chairmanship rotating between them.

The joint venture agreement is yet to be signed. The companies have agreed to incorporate the venture by December 31 2030, subject to the fulfilment or waiver of specified conditions.

Under an interim offtake agreement, BKT will manufacture Pirelli-branded passenger car tyres at its existing plant in Bhuj, Gujarat, using Pirelli’s specifications and know-how. Pirelli and its affiliates will purchase the tyres, with pricing based on actual raw material costs plus conversion costs. Payments will be made in rupees for domestic supplies and euros for exports.

The agreement includes a minimum annual purchasing commitment from Pirelli, matched by a corresponding capacity commitment from BKT. The arrangement is expected to remain in force until the joint venture becomes operational and can meet Pirelli’s demand. Otherwise, it will continue until December 31 2031, subject to a possible extension by mutual agreement.

The partnership also provides for Pirelli to supply technical support for testing BKT-branded tyres, including products for sport utility vehicles, passenger cars and two-wheelers. The services will use Pirelli’s testing facilities outside India, with BKT paying fees in euros under an agreed pricing schedule.

For Pirelli, which the filing says currently has a commercial presence in India, the venture represents a step towards strengthening its position in a market with growing demand for higher-value tyres. The company reported consolidated revenue of approximately €6.78bn for the year ended December 2025.

For BKT, the agreement offers a route into the passenger car tyre segment beyond its established business, potentially opening opportunities in domestic and international markets.

The agreements also contain restrictions on competing arrangements. While the framework agreement remains in force, neither company may enter a joint venture or similar arrangement with a third party in India to manufacture car, light truck, motorcycle or bicycle tyres, although wholly owned plants are excluded. Under the offtake agreement, BKT cannot manufacture comparable or competing passenger car tyres for third parties, but remains free to develop and sell its own BKT-branded products.

The proposed joint venture’s completion remains subject to the conditions specified in the agreements. The companies have not disclosed a financial value for the transaction or the proposed plant’s investment cost in the filing.

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The Yokohama Rubber Co., Ltd. is set to appear at the IRC2026 AICHI Rubber & Elastomer Technical Exhibition, a four-day gathering running 3–6 November at the Aichi Sky Expo in Tokoname City, Aichi Prefecture. Held in tandem with the International Rubber Conference 2026, which convenes rubber and elastomer scientists and engineers from across the globe, the event carries the theme ‘Future Rubber Technology toward Sustainability’.

Yokohama Rubber's own display, billed as ‘Yokohama's Technology Supporting a Sustainable Society’, will spotlight innovations embedded in tyres and industrial goods that tackle societal challenges through diminished environmental footprints, stronger safety and cost efficiency and lighter labour burdens.

On the tyre front, visitors will encounter the iceGUARD 8 for passenger cars and the newly launched iceGUARD 8 SUV, introduced in September. Explanations will cover the tread patterns and the AQUA BUSTER naturally derived, highly absorbent compound responsible for grip on frozen roads. Racing fans will note ADVAN tyres built from renewable and recycled feedstocks and supplied to Japan's SUPER FORMULA Championship, alongside a BluEarth-GT AE51 prototype incorporating biomass-derived butadiene rubber. The company will also outline R&D balancing performance retention with greater sustainable material uptake and reduced petroleum dependence in synthetic rubber.

Industrial offerings include the Smart Belt, a conveyor belt carrying embedded RFID tags, together with maintenance support services that harvest wear and temperature readings to recommend upkeep approaches and belt specs matched to operating conditions – enhancing safety while trimming inspection and maintenance effort. Cutaway samples will reveal automotive air-conditioning hose construction using lightweight resin liquid piping and marine hose architecture underpinning safe seaborne crude and petroleum product transport.

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Pirelli has confirmed its tyre compound choices for the United States Grand Prix at the Circuit of the Americas, selecting the C2 as Hard, the C3 as Medium and the C4 as Soft. This marks a return to a familiar combination after the 2025 experiment that introduced an additional step between the Hard and Medium compounds. Last year the C1 served as the hardest available tyre but was unused in the race, with teams preferring one-stop strategies built around the softer C3 and C4 options. The Austin round opens a triple-header on the American continent that also includes Mexico City and São Paulo, and it stands as the second of three United States-based events this season ahead of Las Vegas.

The weekend reverts to the traditional format without a Sprint, giving teams three free practice sessions to refine car balance and set-ups on a circuit that does not demand extreme compromises. The 5.513-kilometre COTA layout blends high-speed corners, rapid direction changes and slower sections requiring strong traction, so competitiveness depends on pairing straight-line speed with efficient aerodynamic load through technical passages. From a tyre perspective, the track loads both axles: the fast corners of the first sector stress the front tyres, while the acceleration zones out of slow corners in the third sector generate thermal degradation primarily at the rear.

The asphalt is not especially abrasive, and a section between Turns 9 and 11 was resurfaced earlier this year, though ageing across the remainder of the circuit contributes to significant wear. Tyre wear rather than graining could therefore prove decisive, as several tyres reached very high wear values at last year's event. Strategically, the C2 Hard could favour long stints in what is likely a one-stop race, though typically high Texan temperatures may increase degradation and open alternative approaches. Medium-Soft was last year's most popular strategy, used by 13 drivers, with Charles Leclerc the lone podium finisher to start on Softs.

Austin has hosted the United States Grand Prix 13 times, though the event's total history spans 46 editions across six circuits; Lewis Hamilton leads with six victories, one shy of Michael Schumacher's record, and Ferrari holds the constructors' mark with 11 wins. The Porsche Carrera Cup North America season, supplied by Pirelli for the first time, concludes at COTA during the Grand Prix weekend, with Tyler Maxson leading the Mobil Pro standings by 27 points after Road Atlanta, though Aaron Jeansonne remains in contention with two races and bonus points available. Pirelli Design has also created a special podium cap by designer Denis Dekovic, featuring a star pattern inspired by the American flag alongside cacti and rattlesnakes as Texan desert symbols.

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TyreSafe, UK’s leading tyre safety charity, has forged a new alliance with Donna Jones, the Police and Crime Commissioner (PCC) for Hampshire and the Isle of Wight, as part of its ongoing drive to strengthen road safety and curb tyre-related incidents nationwide. The partnership reflects the organisation's wider commitment to working with policing and other stakeholders to reduce preventable harm on UK roads.

Jones has placed road safety at the heart of her agenda, prioritising action against dangerous driving, tougher enforcement and a reduction in deaths and serious injuries on local roads. The scale of the challenge is clear from figures covering October 2024 to September 2025, during which 1,286 people were killed or seriously injured across the two areas. A dedicated Roads Policing Tasking Team, unveiled by Jones in March 2026, now targets dangerous driving and high-risk collision hotspots, focusing on the Fatal Five: speeding, drink and drug driving, mobile phone use, seatbelt non-compliance and careless driving.

In TyreSafe's view, illegal and badly maintained tyres – alongside general vehicle upkeep – deserve greater prominence within a joined-up road safety strategy that builds on existing enforcement and education programmes. The partnership opens the door to joint work between TyreSafe and the Commissioner's office on raising public awareness, encouraging responsible driving and supporting efforts to prevent avoidable road incidents. It also highlights how enforcement, education and prevention can work together, helping motorists recognise their obligations and the serious risks posed by unsafe tyres.

Crime prevention and making Hampshire and the Isle of Wight among the safest places to live nationally have also been flagged as priorities by the Commissioner. TyreSafe intends to use the partnership to back broader road safety work in the region while deepening its collaboration with policing and other stakeholders across the country, all in support of its Vision Zero goal of eliminating harm to road users caused by illegal and poorly maintained tyres.

Jones said, “Tyre safety is an essential part of keeping our roads safe. Illegal and poorly maintained tyres can put drivers, passengers and other road users at serious risk, and it is important that we do more to raise awareness of these dangers. I welcome the opportunity to work with TyreSafe to help educate drivers, encourage regular tyre checks and support efforts to prevent avoidable collisions. By working together on education, prevention and enforcement, we can help make Hampshire and the Isle of Wight’s roads safer for everyone.”

Stuart Lovatt, Chairman, TyreSafe, said, “Working with police forces and Police and Crime Commissioners is an important part of our ambition to reduce tyre-related incidents and make our roads safer. Our four strategic goals set out the changes we believe are needed, from improving enforcement and driver education to strengthening the evidence available to policymakers. We welcome the opportunity to work with Donna Jones and her team to explore how we can support greater awareness of tyre safety and encourage practical action to address the risks posed by illegal and poorly maintained tyres.”

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