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)
Apollo Tyres Unveils New TBB Range To Cut Fleet Operating Costs
- By TT News
- January 29, 2026
Apollo Tyres has introduced a new series of truck and bus bias (TBB) tyres, marking a significant expansion of its commercial vehicle portfolio. This launch centres on three distinct models within the popular 10.00-20 size category, each engineered to address specific operational needs while contributing to a lower total cost of ownership for fleet operators. The development process involved rigorous collaboration between global research and plant teams, ensuring the tyres deliver enhanced durability, reliability and extended mileage through advanced technological features.
The new range includes the XT 1x and XT 2x, both designed as drive pattern tyres. The XT 1x focuses on profitability through a robust lug design that resists cuts and chips, along with a durable carcass structure. For operations demanding extra strength, the XT 2x incorporates an extra-deep tread and a reinforced casing to improve load capacity and longevity. Complementing these is the XR 1x, a steer pattern tyre built for an extended service life. It utilises a specialised tread matrix to minimise wear and incorporates design elements for improved heat dissipation and overall durability.
Collectively, these tyres are engineered to maximise vehicle uptime and operational efficiency. The drive patterns are constructed to provide superior traction across diverse conditions, while the steer pattern prioritises stability, even wear and responsive handling. This balanced approach offers a comprehensive solution for transport businesses. Through this strategic product introduction, Apollo Tyres reaffirms its dedication to innovation and developing solutions that support more efficient, profitable and dependable mobility for its customers.
Rajesh Dahiya, Vice President – Commercial (India, SAARC and Southeast Asia), Apollo Tyres Ltd, said, “This new TBB tyre range is a strong step forward in our journey to deliver superior performance and value. By combining advanced design, robust construction and application-focused patterns, we aim to help our customers achieve lower operating costs while meeting the demands of newer and growing vehicle segments.”
Goodyear And TIP Group Cement Two-Decade Alliance With Five-Year Renewal
- By TT News
- January 29, 2026
Goodyear and TIP Group, a prominent European equipment solutions provider, have renewed their longstanding partnership for another five-year term. This extension coincides with a significant milestone, celebrating two decades of joint efforts supporting fleet operations across the continent. Throughout this period, Goodyear has provided TIP's fleets with tailored, high-performance commercial tyre solutions designed to meet specific operational demands.
A central pillar of the renewed alliance is a shared commitment to sustainability. By integrating Goodyear's latest product innovations, such as the KMAX GEN-3 range, TIP can now offer its customers truck tyres constructed with a minimum of 40 percent sustainable materials. These products are engineered to deliver the expected durability while also featuring B-label rolling resistance to enhance fuel efficiency. Further supporting sustainable operations, Goodyear’s retreading services aid TIP in prolonging tyre life cycles, which helps reduce waste, conserve resources and manage operational expenses.
Complementing the supply of tyres, TIP’s clients gain access to extensive service support through Goodyear’s expansive TruckForce Network of over 2,000 locations. This network is critical for minimising vehicle downtime, optimising tyre performance and ensuring fleet reliability. These combined efforts actively contribute to TIP Group’s broader environmental, social and governance objectives, enabling more sustainable fleet management without sacrificing efficiency or customer value.
Concurrently, TIP continues to advance its own modernisation initiatives, investing in sustainable fleet solutions, advanced telematics and refurbishment capabilities. These investments help customers extend asset lifecycles, improve regulatory compliance and lessen their environmental impact. The enduring partnership with Goodyear thus serves as a key component in TIP’s comprehensive strategy to navigate evolving market and regulatory landscapes.
Piotr Czyżyk, Vice President – Commercial Sales EMEA, Goodyear, said, “This partnership is built on trust, long-term thinking and a deep understanding of the transport fleet market. For 20 years, we have worked closely with TIP Group to deliver reliable products, innovative fleet solutions and retreading services that help keep their customers moving. Extending our agreement for another five years reflects our shared commitment to performance, efficiency and sustainability – and to continuously evolving together as market expectations change.”
Paul Beadle, COO, TIP Group, said, “Our collaboration with Goodyear is a strong example of how strategic partnerships can create real value for fleet operators. Managing more than 90,000 trucks, trailers and specialised assets across Europe means reliability is critical, which is why we value long-term partners like Goodyear. By combining high-performance tyres and mobility solutions with our operational experience, we deliver more efficient and more sustainable fleet solutions and ultimately more value for our customers.”
Maxam Tyre Europe To Showcase Agricultural Tyres At Fieragricola 2026
- By TT News
- January 29, 2026
Maxam Tyre Europe will showcase its comprehensive portfolio of agricultural tyres at Fieragricola 2026 in Verona from 4–7 February. Under the banner ‘More Pull. Less Fuel’, the company's participation highlights a core commitment to efficiency and enhanced productivity through smart tyre performance. Exhibiting in Hall 6, Stand D4, the Sailun Group subsidiary will feature a curated selection from its diverse range.
Among the products on display will be the MAXAM AgriXtra XL VF tyre, a model recognised by the German Agricultural Society, the DLG, for its contributions to soil preservation, improved traction and reduced fuel consumption. The event provides an opportunity for attendees to engage directly with the Maxam brand and its innovative solutions. This focus on sustainable technology aims to demonstrate how advanced tyre engineering can significantly improve operational efficiency and support modern, responsible farming practices.
Prinx Chengshan Rolls Out First OTR Giant Tyre
- By TT News
- January 29, 2026
Prinx Chengshan has successfully rolled off its first off-the-road giant tyre, model 30.00R51, a milestone celebrated by company leaders and Rongcheng Mayor Liu Jinjun. This achievement marks a crucial step in the construction of the firm's new green and intelligent off-road tyre factory and represents significant progress in enhancing its high-end product portfolio, effectively addressing a gap in the domestic market for premium off-road tyres.
The newly produced tyre, with an outer diameter of nearly three metres and a weight of 1.8 tonnes, is engineered for massive dump trucks operating in open-pit mines, capable of carrying loads over 120 tonnes. Its design features a wide, deep tread pattern for superior traction and a specialised shoulder cooling system that promotes heat dissipation. This innovation enhances safety by reducing risks such as blowouts while also improving operational efficiency and cost-effectiveness in demanding mining environments.
This strategic development responds to steadily rising global demand for high-end off-road tyres, fuelled by growing infrastructure investment and mining industry modernisation. The company's significant investment of over CNY 1.1 billion (approximately USD 158 million) in its new production base, initiated in 2025, underscores this focus. The facility, covering more than 100,000 square metres, is planned to have an annual capacity of 84,000 engineering tyres and 10,000 giant tyres for diverse applications across mining, construction and industrial sectors.
From its inception, the project has been guided by principles of high-end intelligence and green environmental protection. It incorporates modern workshops, smart manufacturing processes and sustainable initiatives like rooftop solar power generation to ensure energy-efficient development, reflecting a firm commitment to circular economy practices and Industry 4.0 standards.
Moving forward, Prinx Chengshan will leverage its global network of research and development centres to continue advancing independent innovation. By fully implementing a ‘Product + Service’ model, the company is committed to its in-depth transformation towards high-end, intelligent and green manufacturing. This direction aims to provide efficient and reliable solutions for global mining progress, injecting robust momentum from ‘China Smart Manufacturing’ into the industry's future.
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