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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Prinx Chengshan has introduced a new line of agricultural tyres at the 2026 Xinjiang International Agricultural Machinery Expo, which opened in Urumqi on 25 May. The Chengshan brand showcased products specifically designed for tractors and combine harvesters, responding to the growing performance demands of large-scale machinery driven by agricultural modernisation.

As tyres play a critical role in equipment efficiency, Prinx Chengshan has developed a full-chain innovation system covering fundamental research, application development and pilot verification. With a newly launched green and intelligent off-the-road tyre plant, the company now offers agricultural tyres that excel in durability and load capacity, providing cutting-edge solutions for global customers.

The Chengshan TX series addresses specific operational needs. The TX600, for tractors, features large tread lugs and flexible sidewalls to ensure stability and comfort during high-speed relocation. The TX700 uses a reinforced carcass and belt structure to handle heavy combined loads without deformation. The TX800 incorporates an R-1W deep tread pattern and wear-resistant compound to withstand sharp stubble, gravel and roots, extending tyre life and lowering costs. For combine harvesters, the TX2000 uses proprietary IF technology to deliver 20 percent higher load ratings at the same pressure, reducing soil compaction and protecting topsoil.

Moving forward, Prinx Chengshan will continue its product plus service strategy, supporting modern agriculture alongside global partners. The company aims to advance green farming practices and contribute to a sustainable future.

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Yokohama Tire has become a new partner of the Velocity Invitational, North America’s leading motorsport and lifestyle festival. The event is scheduled for 29-31 May at Sonoma Raceway in Northern California. The tyre manufacturer will showcase its ADVAN line of ultra-high-performance tyres and also support round four of the Porsche Sprint Challenge USA West by Yokohama.

The Velocity Invitational takes place in California’s wine country, blending world-class historic racing, modern hypercars, rare vehicle collections and immersive car culture. These attractions are paired with fine wines, luxury hospitality and exceptional culinary offerings.

Candace Cogan, Director of Product Marketing, Yokohama, confirmed several brand activations. These include ADVAN-livery vehicles on display and on track, such as the BBI Autosport Porsche 992 TurboCup ‘Dixie’ and a GT2 EVO tribute by Type-99. To mark the 75th anniversary of Porsche Motorsport, Yokohama will host a ‘Prost’ celebration featuring a curated video highlighting the longstanding relationship between the two brands.

Several Yokohama brand partners will attend. They include builder Vin Anatra, known for a Ferrari 360 rebuilt bolt-by-bolt on ADVAN A052 tyres; BBI Autosport founder Betim Berisha; photographer Larry Chen; filmmaker Sung Kang, famous for playing Han in ‘The Fast and the Furious’, whose upcoming film ‘DRIFTER’ features the ADVAN-shod hero car ‘Lola’ and Formula Drift hall of famer Daijiro ‘Dai’ Yoshihara.

Cogan said, “Yokohama is excited to be a sponsor of the Velocity Invitational, which is the ultimate festival of flat-out exhilaration and excitement. It’s a natural extension of our performance legacy and a powerful platform to showcase our iconic ADVAN tyres to enthusiasts united by a shared passion for car culture in every form.”

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The Tire Industry Project (TIP) has opened registration for its 2026 Tire Emissions Research Conference, scheduled for 8 to 10 December 2026 at the University of Cambridge in England. The event continues a series that began with successful gatherings in Munich in 2024 and Boston in 2025.

Building on prior editions, the 2026 conference maintains an exclusive focus on scientific research into tyre emissions and actionable countermeasures. This emphasis responds to rising global concern over tyre wear pollution, with organisers believing that progress depends on open knowledge exchange, multi-stakeholder collaboration and harmonised scientific methods.

The agenda covers the full scope of the issue, including tyre and road emission generation, environmental distribution and fate, ecological behaviour and impact, design alternatives and civil engineering or environmental practices for mitigating tyre and road wear particles and related chemicals. Participants range from scientists and industry practitioners to policymakers and experts in environmental and materials science.

Held at Jesus College within the prestigious University of Cambridge, the conference follows the tradition of partnering with world-class institutions such as the Technical University of Munich and the Massachusetts Institute of Technology. Abstract submissions are due by 29 May 2026, with further details and registration available on the event website.

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Kumho Tire has confirmed its participation at The Tire Cologne 2026, the world’s leading tyre exhibition, taking place in Cologne, Germany, from 9 to 11 June. The South Korean manufacturer will present key products at Hall 6.0, Stand B030 C039, including summer, winter, all-season and truck and bus tyres. The event is the largest and most prestigious global gathering for the tyre industry.

Under the theme ‘Innovation to Build the Future’, Kumho Tire will introduce its latest advancements and intelligent solutions for future mobility. The company aims to demonstrate technological excellence in stability and performance across driving conditions. Featured products include summer tyres such as the ECSTA SPORT S, ECSTA SPORT and ECSTA HS52, along with the winter tyre WinterCRAFT WP52+. Both ECSTA SPORT models are ultra-high-performance tyres gaining strong traction in the European market.

The WinterCRAFT WP52+, developed for European conditions, ranked third out of 51 entries in Auto Bild’s 2025 winter tyre test, earning an ‘Exemplary’ rating. Kumho Tire will also showcase MARSHAL brand products including the MU12, MH15 and MH22. The MU12 delivers stable handling, grip, braking and cornering at high speeds, as MARSHAL strengthens its global position combining performance with value.

Additional displays include the SOLUS HA32, WinterCRAFT ICE WI32, WI52, PorTran 4S CX11 and concept tyres Volume and Origami. Kumho Tire will invite key European customers for business meetings to explore partnerships, aiming to communicate its future vision, deepen engagement and expand its global footprint.

Tony Gangseung Lee, Head of Europe at Kumho Tire, said, “This exhibition presents a valuable opportunity to showcase our key products at the world’s largest tire event. We will leverage this platform to reinforce our position as a sustainable, future-oriented smart mobility partner and accelerate our transformation into a global premium brand.”

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