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)
ZC Rubber Expands Global Footprint With Vietnam Manufacturing Facility
- By TT News
- November 13, 2026
ZC Rubber has unveiled plans to establish a new tyre production base in Vietnam, adding another site to its worldwide manufacturing map. The plant, occupying 344,195 square metres within IDICO Phu My II Expansion Industrial Park, is targeted to start output in 2027.
A newly created subsidiary, ZHONGCE RUBBER VIETNAM COMPANY LIMITED (ZCV), will run the operation. The company marked a developmental milestone in Ho Chi Minh City on 12 November 2026, when it obtained the investment registration certificate and formalised a land sublease with IDICO Corporation.
The Southeast Asian nation's location, trade relationships and maturing industrial base make it a sound choice for the venture, which will cater to Vietnamese and regional demand while reaching European and North American buyers. The move fits ZC Rubber's wider push to spread production across multiple countries and reinforce supply flexibility for distributors and customers globally.
Henry Shen, Senior Deputy General Manager, ZC Rubber, said, “Our overseas investments are guided by a long-term goal: to build a manufacturing network that supports our customers as their markets evolve. The Vietnam facility will give us greater flexibility to serve key markets and support our partners’ growth. We appreciate the support of the local authorities and will work closely with IDICO to deliver this project to high standards.”
Tyres Europe Reports Mixed Performance For Replacement Tyre Sales In Q3 2026
- By TT News
- November 13, 2026
Tyres Europe has released its members’ replacement tyre sales figures for Q3 and the first nine months of 2026. Secretary General Adam McCarthy cautioned that modest nine-month gains should not obscure a weak third quarter. Consumer tyres across passenger car, SUV and light commercial dipped 1 percent in Q3 versus 2025, though nine-month volumes stayed 1 percent ahead, with all-season tyres up 13 percent in the quarter and 10 percent over nine months.
Summer tyres slipped 1 percent in both periods as demand shifted towards all-season, while winter tyres fell 11 percent in the quarter and remained 9 percent lower over nine months. Miles travelled declined again on high fuel prices and weak consumer confidence amid Middle East conflict, at about half Q2's pace, and PCLT imports into the EU27 plus UK dropped 7 percent from January to August.
Chinese imports more than halved year on year in July and August after July's anti-dumping duties. Truck & Bus tyres were stable in the quarter after strong Q2 growth and stood 4 percent higher over nine months, with freight volumes beating expectations and truck tyre imports up 26 percent. Agricultural tyres fell 34 percent quarterly and 17 percent over nine months, Moto & Scooter tyres dropped 5 percent in the quarter but stayed 2 percent higher over nine months. The full report is available on Tyres Europe's website.
Goodyear Showcases Performance Legacy At 2026 SEMA Show
- By TT News
- November 13, 2026
Goodyear brought generations of performance heritage to the 2026 SEMA Show in Las Vegas, where its tyres appeared on some of the event's most talked-about vehicles. The annual automotive aftermarket gathering ran from 3–6 November at the Las Vegas Convention Center, drawing builders, manufacturers, buyers, media and enthusiasts for four days centred on innovation, new products, craftsmanship, performance and emerging trends. For Goodyear, the setting was familiar territory, as racing has long served as both a proving ground and an inspiration for its street products.
A 1928 Ford Model A reimagined by TQ Customs as an F1-inspired mid-engined hot rod stood out among the featured builds. It pairs a custom chassis and roll cage with a Honda K20 engine and Porsche transaxle, riding on custom Goodyear Eagle F1 tyres sized 275/45R18. Three F-550 Super Duty trucks wore Goodyear's heavy-duty G275 MSA in 335/80R20, while the new 819-horsepower Ferrari 12 Cylindri was fitted with application-specific Eagle F1 SuperSport tyres, sized 275/35R21 front and 315/35R21 rear.
Goodyear's presence also extended through Mickey Thompson Tires & Wheels, the enthusiast performance brand within its portfolio. Mickey Thompson maintained a significant show footprint with displays in the Race/Performance section of Central Hall and the Silver Lot, showcasing products and builds spanning street, strip and off-road performance. Its SEMA programme highlighted the limited-edition Street Comp GHT Signature Series street-performance tyre, expanded Baja Boss A/T and Baja Boss M/T sizes and new MT Classic Forged wheel sizes.
The vehicles on display ranged from vintage American muscle to cutting-edge performance machines and purpose-built off-road rigs, yet they shared a fundamental drive to perform better, make a statement and become more personal.
Andrew Lau, Enthusiast Account Lead at Goodyear, said, "The SEMA Show highlights the best of the industry – emotionally charged and technology-filled and crossed with dramatic and eye-catching, which is where Goodyear and our dynamic portfolio really shine. For cars worth bragging about, we make tyres worth bragging about! Our Goodyear Eagle lineup fits the ever-growing supercar market, which we see growing especially as more enthusiasts get their hands on these cars at a range of price points. And it wouldn’t be SEMA without giant trucks and extreme lift kits, where we saw Mickey Thompson and Goodyear tyres shown off in a dramatic fashion.”
Yokohama Tire Offers GEOLANDAR Prize Drawings In Tread Lightly! Fundraiser
- By TT News
- November 13, 2026
Yokohama Tire has partnered with Tread Lightly! for the Protect What Moves You fundraiser, running through 30 November. Consumers who donate can enter to win GEOLANDAR tyre prize packs or a full set of tyres. Proceeds support trail stewardship, responsible recreation and keeping public lands open.
According to Yokohama’s Senior Manager of Corporate Communications Melissa Aguirre, each USD 10 donation earns one entry for a GEOLANDAR prize pack, while donations of USD 100 or more earn one entry for a set of Yokohama tyres. The initiative complements Yokohama’s environmental ‘Caring for our Communities’ partnerships, which include Surfrider North Orange County and the California State Parks Foundation.
Aguirre said, “We’ve been an official partner of Tread Lightly! for three years and have collaborated on several stewardship projects across the country to improve access, restore trails and protect natural resources for off-road enthusiasts and outdoor adventurers. The Protect What Moves You campaign will definitely help with those efforts.”
James Boyd Jr., Executive Director of Tread Lightly!, said, “We’re grateful for Yokohama Tire’s continued partnership and commitment to protecting the places we all love to explore. Through our work together, we’ve made a meaningful impact on trails and public lands across the country. The Protect What Moves You fundraiser gives outdoor enthusiasts an opportunity to support responsible recreation and hands-on stewardship while helping ensure these places remain accessible for future generations.”
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