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-sponsored TGL presented by SoFi, a US-based team golf league, is set to host its ninth through twelfth matches over two days beginning 23 February at the SoFi Center in Florida. As the league’s first-ever Official Tyre Partner and a Founding Partner, Hankook Tire is maximising its involvement by showcasing its unified global ‘Hankook’ brand across on-site LED displays, television advertising and broadcast coverage. This strategic presence reaches fans in approximately 150 countries, delivering premium brand value and creating a distinctive brand experience at the crossroads of mobility and sports while broadening consumer engagement.

The upcoming matches carry significant weight as TGL Season 2 approaches its playoff phase. On 23 February, Atlanta Drive GC will face a demanding doubleheader, first confronting Boston Common Golf followed by Los Angeles Golf Club. The opening contest presents a compelling standings battle, with Atlanta seeking to defend its top position against a Boston team that recently surged into second place after a decisive victory over The Bay Golf Club. Although Atlanta opened the season with consecutive wins to claim the lead, Boston has narrowed the gap based on holes won, intensifying the stakes. The subsequent match against Los Angeles proves equally critical, as Atlanta holds merely a two-point advantage over a team tied in holes won, meaning a defeat could trigger a standings reversal.

The following day features New York Golf Club in its own doubleheader, beginning against The Bay Golf Club before meeting Boston Common Golf. Currently occupying sixth place, New York aims to close ground on fifth-place Bay, while The Bay seeks to overcome early-season inconsistencies and build playoff momentum through back-to-back victories. The twelfth matchup places New York against second-place Boston, with only two points separating them. New York will depend on Matt Fitzpatrick, undefeated in Season 2 singles competition, to anchor its postseason push.

With merely three regular season matches remaining before the playoffs, the battle for top-four positioning has intensified considerably. Atlanta Drive GC maintains its lead atop the standings, pursued closely by Boston Common Golf, Los Angeles Golf Club and Jupiter Links GC. Meanwhile, The Bay Golf Club and New York Golf Club occupy fifth and sixth places, respectively, rendering every remaining contest crucial for postseason aspirations.

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Tipler convened dealers from across Brazil and Latin America in a live online broadcast in February using its annual convention to reward top performers, outline strategy and tighten alignment across its commercial truck tire retreading network.

Branded the 2026 Convention – Tipler Champions League, the virtual gathering connected business owners, managers and sales teams in what the company described as a pivotal moment for recognition and planning ahead of its next expansion cycle. The event spotlighted standout performances in 2025 with dealers evaluated on sales results, management standards, market growth and operational excellence.

Beyond awards, the convention doubled as a strategic roadmap session for 2026. Executives detailed commercial targets, marketing and market intelligence investments and new technical and management training initiatives. The company also signaled plans to expand regional operations and further develop its Tipler Champions League program, while sharpening its focus on innovation, efficiency gains, customer proximity and territorial expansion in key Latin American markets.

Leadership underscored the dealer network’s role in driving sustainable growth. “Our business model is built by many hands. Each dealer is a key player in our story. The convention is the moment to celebrate achievements and, above all, align our course so we can continue growing together,” said Jandrei Goldschmidt, Marketing Executive at Tipler.

The high-engagement broadcast reinforced integration across the network and a collective push to bolster competitiveness as Tipler works to consolidate its position among sector leaders. By linking partners, sharing operational and commercial priorities and recognising performance, the company signaled its intent to accelerate growth while maintaining a focus on excellence, dealer partnership and value creation for the transportation market across the region.

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DRC (Doctors of Rubber Compounding) is set to participate in the 2026 edition of Tire Technology Expo, a premier European event focused on tyre manufacturing materials and technology. The exhibition will take place in Hannover, Germany, from 3 to 5 March 2026.

Bringing over four and a half decades of expertise as a specialist custom compounder, DRC supplies advanced rubber compounds to tire producers worldwide. These formulations are designed for various tyre components, such as treads, sidewalls, innerliners and other technical parts. Beyond developing compounds and offering large-scale mixing capabilities, the company also manufactures semi-finished tyre-related goods, including calendered rubber and retreading materials. DRC provides comprehensive support throughout the entire process, from the initial formulation stage to final application, backed by in-house testing and scalable production to guarantee consistent quality, processing efficiency and supply reliability.

Attendees are invited to visit Stand C114 in Hall 20 to engage with the DRC team, explore custom compound development, address specific performance criteria for tyre materials and learn more about their full range of compounded and semi-finished products.

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Left Lane Auto, a tyre retail and automotive services provider based in Champaign, Illinois, has expanded its footprint through a new partnership with Don Foshay's Discount Tire & Alignment. The Maine-based business operates six locations offering comprehensive vehicle repair and maintenance and is the latest addition to Left Lane’s growing portfolio, which is backed by private equity firm Bertram Capital. The financial details of the deal have not been released.

Founded in 1982 by Don Foshay Sr with a single shop in South Portland, the company has since grown to include six locations and a team of more than 75 employees. Over the years, the business has earned multiple industry accolades while building a strong reputation under its established local brand. Its service offerings are extensive and include tyre sales and installation, wheel alignments, preventive maintenance, diagnostics, transmission work and repairs to exhaust, cooling and belt systems for a wide range of vehicles. The organisation has also invested in modern diagnostic and repair technology to support its commitment to dependable service.

This acquisition represents a significant milestone for Left Lane, bringing its total number of owned stores to over 80 since its inception in 2021. It also marks the first transaction completed following the strategic partnership announced between Left Lane and Bertram Capital in late 2025.

Parham Parastaran, CEO, Left Lane, said, "We are excited to have the opportunity to carry on the strong legacy and operation that the Foshay family has built in Maine, which will serve as a strong entry point into the state for our platform. We plan to retain all upper management and employees across all locations and are excited to continue to grow both the Don Foshay's brand and the broader Left Lane platform's presence across the New England area."

Don Foshay Jr said, "We had multiple buyers to pick from but found that Left Lane Auto was the best match for our team and our customers going forward. The further we've gotten into the transition, the happier we are with that decision."

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