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)
Sailun Participates In BAUMA CONEXPO INDIA 2026 With MAXAM Brand And OTR Tyre Lineup
- By TT News
- October 13, 2026
Sailun Group made its first substantial appearance at BAUMA CONEXPO INDIA 2026, which opened on September 15 in India. The company attended the event with its MAXAM brand and a selection of core products, holding detailed talks with construction equipment manufacturers, industry customers and partners from around the world. These discussions focused on emerging trends and new opportunities shaping the sector.
Recognised as one of the most influential construction equipment trade shows in India and South Asia, the exhibition spans construction machinery, mining equipment, off-highway vehicles and related value-chain industries. It provides a key platform for global companies to present innovations, connect with industry resources and build regional partnerships. For Sailun, the event marked a significant step in strengthening brand presence and advancing localized development in the Indian market.
The company displayed a broad range of tread patterns, including the MS401, MS308, MSV01 and MS701+, suited to mining, infrastructure development, construction and material transportation. These products are designed for varied equipment configurations and operating demands, reflecting Sailun’s ongoing efforts to strengthen its OTR tyre portfolio and address complex conditions.
Sailun’s booth drew numerous OEMs, distributors, contractors and industry customers. Teams discussed product performance, equipment compatibility, application scenarios and specific requirements while exploring market development, product supply and long-term cooperation. The professional portfolio and solutions for demanding conditions earned strong recognition, raising market awareness of Sailun and MAXAM.
Gislotica, a manufacturer of machinery for the tyre industry, has joined APIB as a supplier member, strengthening its links with the rubber sector and expanding its engagement with industry participants.
The company also took part in an APIB panel recently, providing an opportunity to exchange views with professionals and businesses across the sector.
Membership of APIB is intended to help Gislotica build relationships with manufacturers, suppliers and other industry partners, while sharing knowledge of the challenges and opportunities facing the sector.
Gislotica considers collaboration across the industry essential to driving innovation, developing technological solutions and supporting growth. The company plans to continue developing machinery solutions that address the needs and challenges of its partners.
Prinx Chengshan Hosts 2026 International Dealer Conference Amid 50th Anniversary Milestone
- By TT News
- October 13, 2026
Prinx Chengshan marked a significant double milestone this October by hosting the 2026 Prinx Chengshan International Dealer Conference in Rongcheng, Shandong Province, coinciding with the 50th anniversary of Chengshan Group's manufacturing operations. The event drew over 100 international dealer representatives from Europe, North America, the Asia-Pacific, Latin America, Middle East and Africa, underscoring the company's determination to strengthen its global footprint, build a premium brand, and pursue shared success through collaboration.
Che Hongzhi, Chairman of Chengshan Group, reflected on how five decades of perseverance have forged a distinctive corporate culture and rich brand heritage rooted in integrity, craftsmanship and mutual success. This foundation, he noted, has enabled steady and sustainable growth in global markets, while the steadfast support of partners has given Prinx Chengshan the confidence to expand worldwide through deeper, higher-quality collaboration.
Jiang Xizhou, President of Prinx Chengshan, analysed the core competitive advantages built over 50 years across products, services and supply chain development. He outlined a strategic shift from price competition toward value competition, translating the company's ‘product plus service’ philosophy into tangible benefits for market partners. Vice President Che Jing added that five decades of weathering challenges alongside partners have yielded both cultural heritage and practical experience, with five key growth engines – including tyres for new energy vehicles and speciality tyres – set to drive further upmarket movement and comprehensive value-chain support for international dealers.
The conference gave partners comprehensive insight into Prinx Chengshan's research and development capabilities, product portfolio and supply chain system. Li Chongbing, Director of the R&D Center, stressed that continuous innovation remains the only path to future growth. Wang Hongdian, Director of the Marketing Center, detailed comprehensive solutions and upcoming plans for passenger, commercial and specialty tyres, while Sun Yaping, Director of the Supply Chain Management Center, used case studies and data to demonstrate resilience in fulfilling orders amid international trade challenges.
Dealer representatives from Brazil, Thailand and Puerto Rico addressed attendees, sharing local market achievements and praising the company's overseas competitiveness while congratulating Chengshan Group on its manufacturing anniversary. International dealers also toured the showroom and six laboratories, including noise testing and static performance facilities, holding in-depth discussions on product upgrades, regional expansion, supply chain coordination and after-sales service improvements that helped remove communication barriers and build consensus.
Looking ahead, Prinx Chengshan intends to collaborate with partners worldwide under an open and inclusive global outlook, building a new ecosystem in which resources are shared, strengths are complementary, risks are jointly managed and benefits are distributed among all stakeholders.
DUNLOP To Bring Tyres, Racing Heritage And Interactive Fun To 2026 Paris Motor Show
- By TT News
- October 13, 2026
DUNLOP is set to appear at the 2026 Paris Motor Show, using its exhibition to highlight the brand’s diverse character. Located in pavilion 7.1 at stand D27, the company will occupy 105 square metres with a display combining current tyres, a historic racing vehicle and interactive features. The event runs from 12 to 18 October 2026.
Visitors will be able to view several products from the current portfolio, including the DUNLOP SPORT MAXX RACE 2 in 325/30R21, the DUNLOP BLUE RESPONSE TG in 245/40R18, a winter tyre in 255/45R19 and the DUNLOP ALL SEASON 2 in 225/45R18. Together, these exhibits illustrate the brand’s coverage of different driving needs and showcase some of its best-selling lines.
A special emphasis will also be placed on DUNLOP’s motor-racing heritage. A historic Porsche from 1984 will form part of the stand, bringing a sense of tradition to Paris and helping connect past racing achievements with contemporary technology through the overall exhibition concept.
Beyond tyres, DUNLOP will offer insights into its sporting activities and present tennis, padel and squash rackets. Two driving simulators running Gran Turismo 7 on PlayStation 5 will further engage attendees, allowing them to test their skills and compete for best times on DUNLOP tyres.
Laurent Crampette, Sales Manager – France, Dunlop Tyre Europe GmbH, said, “The Paris Motor Show is one of the most important shows for automotive industry in Europe and a great opportunity for DUNLOP to present itself once again. France is an important market for the brand and the show gives us the opportunity to hold talks with visitors and industry partners. With our appearance, we want to show everyone what DUNLOP stands for today: a mix of contemporary tyre solutions, a longstanding motor-racing tradition and close links with the world of sport.”
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