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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Prometeon Tyre Group has marked a significant advancement in its enduring technical alliance with MM Technology following the unveiling of the Czech firm’s latest rally competition truck, the MMT EVO5. As a global manufacturer of tyres for commercial, agricultural and off-the-road sectors, Prometeon continues to solidify its role as a key partner in high-performance motorsport engineering.

The MMT EVO5 emerges as the newest iteration of MM Technology’s rally truck lineage, incorporating direct feedback and performance data from this year’s Dakar Rally. The company, co-founded by two-time Dakar champion Martin Macík Jr, has integrated reinforced chassis components, a more robust cab structure and a newly developed shock absorber setup. These enhancements were formulated through close collaboration with suppliers, reflecting the real-world experience of both the factory team and client squads.

As the exclusive original equipment tyre supplier, Prometeon equips every rally truck produced at MM Technology’s Sedlčany facility. This partnership underscores a mutual dedication to research and development, with the joint engineering programme driving the evolution of Prometeon’s rally tyre range. The progression from the extreme-condition S02 Pista to the current S02 Rally EVO demonstrates this continuous refinement, representing the manufacturer’s most advanced competition tyre to date.

The effectiveness of this collaboration was prominently displayed at the 2026 Dakar Rally, where nine MM Technology trucks entered and eight finished, with six securing top-10 overall positions. Both the MM Technology Factory Team and the ItalTrans Racing Team, running on Prometeon tyres, concluded the event within the overall top nine. Recent intensive testing in the Tunisian desert has further informed ongoing developments for both tyres and the new vehicle. Ultimately, motorsport remains a critical testing ground for Prometeon, where every race kilometre contributes directly to the advancement of future commercial products.

Francisco Nascimento, Head of R&D Product at Prometeon, said, "Our collaboration with MM Technology goes far beyond a technical partnership. It is a genuine joint development programme built around continuous innovation. Having one of the world's leading rally truck manufacturers choose Prometeon as its exclusive original equipment tyre supplier is a source of great pride and enables us to develop our products in the most demanding environments imaginable.

“Martin Macík Jr is an exceptional development driver whose feedback constantly pushes us to raise the bar. Together with the expertise of the MM Technology engineering team and our drive for innovation, we are even more confident in the capabilities of our latest generation of tyres, and are proud to see them fitted as original equipment on the new MMT EVO5 as it embarks on its competitive journey.”

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Pirelli has designated the SC0 rear tyre as the new benchmark for Moto2 as the MotoGP World Championship resumes its season this weekend at Silverstone for the 12th round. The Italian manufacturer is supplying its standard range compounds for both support classes, with the updated SC0 making a notable return to the British circuit following its successful evaluation there last year.

The 2026-spec soft rear tyre, which initially debuted as a development prototype, features an altered structure from its predecessor and was universally embraced by competitors during practice sessions, even contributing to a new lap record. Its promotion to the standard lineup sees it joined at the rear by the new medium SC1 compound, formerly a development specification, while front tyre duties are covered by the soft SC1 and the medium SC2 options.

Silverstone presents a formidable technical challenge as the longest venue on the calendar at 5.9 kilometres, demanding exceptional machine and rider performance through high-speed corners and rapid directional shifts. The circuit’s low-abrasion surface and notably wide racing corridor allow for varied lines, adding another layer of strategic complexity to the already fast-paced weekend.

In the Moto3 class, Pirelli has made available the soft SC1 and medium SC2 compounds for both front and rear positions. The majority of the field last year favoured the medium SC2 at both ends, a choice that propelled José Antonio Rueda to victory from the back of the grid, though a segment of riders alternatively selected the softer SC1 option for their machines.

Giorgio Barbier, Pirelli Motorcycle Racing Director, said, “For this weekend's round at Silverstone, one of the most iconic and technically demanding circuits on the World Championship calendar, Pirelli will once again provide standard range tyres for both classes, featuring the rear soft SC0 compound that made its Moto2™ debut at this very circuit last year as the E0125 development option. The E0125, which complemented the then standard soft tyre, was immediately appreciated by the intermediate class riders, who, on a highly demanding circuit characterised by numerous high-speed corners and changes of direction where stability is essential, focused exclusively on this new solution from Friday onwards.

“Introduced again at subsequent events, the former E0125 quickly became the Moto2™ riders' benchmark, offering greater stability, outright one-lap performance and consistent performance across a wide variety of weather and track conditions. As a result, it was promoted to the new standard soft tyre for this season. More than a year after its debut, and thanks to the significant development work carried out by the teams during this period, the SC0 has already contributed to numerous lap records this season. Weather conditions permitting, it will therefore be interesting to see whether Silverstone can deliver further progress compared with last year's benchmark.”

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Hankook Tire, the exclusive tyre supplier for the FIA World Rally Championship, played a central role in the season's 10th round at Secto Rally Finland. The event concluded on 2 August in Jyväskylä, where the company’s Dynapro R213 extreme all-terrain rally tyre was put to the ultimate test across the demanding Finnish landscape.

Competitive action unfolded over 20 Special Stages, covering a total distance of 316.04 kilometres. Renowned as the fastest rally on the WRC calendar, the event subjected vehicles and tyres to extreme speeds. The challenging route was characterised by blind crests that impaired visibility, frequent jumps and narrow forest roads, placing a premium on tyre durability and overall driving stability.

The supplied Dynapro R213 tyre proved instrumental in managing these severe conditions. On the ultra-high-speed gravel sections, it effectively absorbed the impact of repeated landings while delivering consistent grip and precise steering response. Its robust construction ensured reliable performance across the loose dirt and forest roads, allowing competitors to push their vehicles to the limit.

Sami Pajari of Toyota GAZOO Racing claimed a home victory, securing back-to-back wins after his success in Estonia. This result advanced him to second in the Drivers’ Championship with 171 points. Looking ahead, Round 11 is the ueno Rally del Paraguay from 27 to 30 August, featuring gravel stages that will demand exceptional tyre resilience. Hankook applies data from its WRC involvement and other global motorsport events to its R&D, fostering continuous innovation and reinforcing its status as a leading global brand.

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Legislation aimed at overhauling decades-old federal tyre safety regulations has been introduced in the United States Senate. The Tire Safety Modernization Act of 2026, sponsored by Senators Roger Wicker of Mississippi and Raphael Warnock of Georgia, seeks to replace outdated testing mandates with contemporary performance standards that better reflect current manufacturing innovations and production techniques.

The proposed bill directs the Department of Transportation to revise federal testing protocols, retiring obsolete requirements in favour of more relevant criteria. A key component of the legislation involves aligning high-speed testing procedures with internationally recognised best practices while also clarifying existing safety criteria to ensure more effective regulatory oversight. The measure preserves a strong emphasis on passenger safety while adapting to the capabilities of modern tyre engineering.

Strong support for the initiative has emerged from the tyre manufacturing sector. Anne Forristall Luke, President and CEO of the U.S. Tire Manufacturers Association, praised the bipartisan effort as a crucial step towards aligning American rules with technological progress, bolstering road safety and enhancing the industry’s global competitiveness. Executives from major manufacturers, including Continental Tire, Goodyear and Yokohama, have similarly endorsed the update, noting that it would allow engineering and compliance resources to focus on innovations that genuinely benefit drivers.

Senator Warnock highlighted the importance of Georgia’s prominent tyre production sector, while Senator Wicker emphasised that federal regulations have failed to keep pace with evolving manufacturing technology. Industry leaders collectively view the act as a thoughtful, science-based modernisation that supports domestic manufacturing competitiveness and ensures that safety standards reflect the demands of modern vehicles, roads and driving conditions across the country.

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