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)
Michelin Expands North India Retail Network With New MTS Stores In Amritsar And Panchkula
- By TT News
- July 07, 2026
Michelin has expanded its retail footprint in North India by inaugurating two Michelin Tyres & Services (MTS) outlets, located in Amritsar and Panchkula. The Amritsar location operates through a partnership with National Auto, while the Panchkula facility is a collaboration with Universal Tyres. This development underscores the French tyre giant’s strategy to place its globally recognised products and services within closer reach of consumers in a rapidly developing automotive market.
Each of the new establishments spans 5,000 square feet, situated strategically on Loharka Road and within Panchkula’s Industrial Area. Designed as modern service hubs, they provide a full spectrum of offerings, ranging from passenger car and two-wheeler tyres to advanced wheel alignment and mechanical maintenance. The stores stock renowned product lines such as the Primacy, Pilot Sport and Latitude Sport series, aiming to deliver a premium and seamless experience for vehicle owners.
The selection of Amritsar and Panchkula reflects Michelin’s assessment of their growth potential, driven by tourism, infrastructure projects and a rising number of private vehicle owners. To capitalise on these opportunities, Michelin has aligned with established regional players. National Auto, a trusted entity in Amritsar since 1927, brings a long-standing reputation for quality service, while Universal Tyres contributes over three decades of technical expertise and market knowledge in the Panchkula region.
These partnerships are central to Michelin’s broader objective of delivering superior mobility solutions rooted in safety and durability. By combining its own technological leadership with the local acumen of its partners, the company aims to strengthen its service ecosystem and cater to the evolving demands of the northern Indian automotive sector.
Shantanu Deshpande, Managing Director, Michelin India, said, “North India continues to be a key market in Michelin's growth journey, supported by rising vehicle ownership, improving road infrastructure and growing demand for premium mobility solutions. The launch of our new Michelin Tyres & Services Stores in Amritsar and Panchkula marks another important step in strengthening our retail presence and bringing Michelin's globally benchmarked products and services closer to customers across the region. As we prepare to introduce Made-in-India passenger car tyres, we remain focused on delivering solutions tailored to the evolving needs of Indian consumers.”
Tyres Europe Seeks Expanded Scope For Tyres Under EU Industrial Accelerator Act
- By TT News
- July 07, 2026
Tyres Europe has issued a formal call for the Industrial Accelerator Act to be revised, urging policymakers to grant greater recognition to the tyre sector’s strategic importance within the continent’s automotive ecosystem. In a newly published position paper, the organisation argues that the current framework insufficiently addresses the industry’s unique contributions and challenges.
The association is advocating for several key amendments, including an expanded scope that acknowledges tyres as critical components in both the replacement and original equipment markets, thereby stimulating demand for EU-manufactured products. Additionally, Tyres Europe proposes the establishment of a Union origin definition that would prioritise European production in public procurement and state-aid schemes. The paper also highlights tyres’ potential to enhance energy efficiency and lower CO2 emissions for light vehicles, while calling for dedicated backing for retreaded and EU-made truck and bus tyres, alongside increased financial mechanisms for industrial decarbonisation and improved governance of manufacturing acceleration zones.
With these targeted modifications, Tyres Europe contends that the Industrial Accelerator Act could effectively foster a market for low-carbon, high-performance tyres produced domestically. Such adjustments would simultaneously bolster competitiveness, support decarbonisation goals and reinforce the overall resilience of Europe’s automotive supply chain.
Word Academy Summer Camp Concludes With Support From Tegeta Green Planet And Toyota Center Tegeta
- By TT News
- July 07, 2026
Tegeta Green Planet and Toyota Center Tegeta served as the primary backers for a summer camp organised by Word Academy, which brought together adolescents between the ages of 8 and 17 in the Kakheti region. The initiative was designed as a digital detox, with all forms of screens and online platforms set aside in favour of immersive, real-world learning experiences.
The week-long agenda was deliberately varied, mixing educational seminars with hands-on exercises, strategic games, and open-forum conversations. Campers were given the opportunity to interact with experts from a range of occupations, all while developing their abilities in analytical reasoning, group coordination and ethical decision-making through carefully structured activities.
A significant portion of the schedule was given over to ecological subjects, with Shalva Akhvlediani, Director of Tegeta Green Planet, and his colleagues leading sessions on waste management and sustainability. The discussions centred on closed-loop systems, producer accountability frameworks and the correct disposal methods for vehicle-derived refuse, including used tyres, spent batteries and lubricating oils. Following these briefings, the teenagers engaged in spirited debates and cooperative challenges that explored the connection between daily habits and broader environmental health.
By the conclusion of the camp, the participants had reached a collective understanding that safeguarding nature is a duty shared equally by citizens, public institutions and commercial entities. Tegeta Green Planet views such educational outreach as a cornerstone of its mission. Toyota Center Tegeta echoed this sentiment, stating through its actions that nurturing youthful minds and ecological mindfulness are indispensable steps toward a resilient and enlightened tomorrow.
Maxxis Debuts Next-Gen MaxxTerra Compound With 30% Longer Tread Life
- By TT News
- July 07, 2026
Maxxis has unveiled the next iteration of its MaxxTerra rubber compound, engineered to substantially enhance both durability and traction for mountain bike tyres. The updated formulation maintains the low rolling resistance that characterises the brand’s performance range, addressing rider demands for extended tyre life without compromising capability on difficult trails.
Following extensive laboratory development and testing, Maxxis engineers achieved measurable improvements over the original compound. The new version exhibits a minimum 30 percent increase in tread wear resistance and a 15 percent gain in grip, all while preserving rolling efficiency. This advancement translates to prolonged riding sessions and reduced frequency of tyre changes for end users.
The enhanced compound will be progressively integrated across the entire trail tyre lineup, with the initial phase currently available. Consumers can distinguish the updated product through packaging marked with a ‘New MaxxTerra’ graphic, while the tyre’s sidewall badge now simply displays ‘MaxxTerra’, replacing the previous ‘3C MaxxTerra’ designation.
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