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)
Continental Unveils Next-Gen ContiTread HDL 5 EP Retread For Long-Haul Fleets
- By TT News
- July 16, 2026
Continental has expanded its ContiTread product line by introducing the HDL 5 EP, a new long-haul drive retread engineered to meet the rigorous demands of modern fleet operations. This next-generation offering is designed to deliver consistent performance while simultaneously improving fuel economy and reducing the overall cost per kilometre for commercial carriers.
The retread incorporates a five-rib tread architecture that ensures reliable traction across extended highway routes. Its specially optimised contact patch, working in conjunction with V-shaped grooves, promotes uniform rubber wear, thereby prolonging the service life of the tread and enhancing the return on investment for each retreading cycle. The tyre is currently produced in sizes 220, 230 and 240, all featuring a uniform tread depth of 21/32.
By focusing on increased durability and operational uptime, Continental positions the HDL 5 EP as a sustainable and intelligent choice within its broader ContiTread portfolio. The tyre aims to provide a practical solution for fleets seeking to balance high performance with long-term efficiency in challenging over-the-road environments.
Galaxy Enters Fast-Growing UTV/ATV Segment With Hulk PSX And Everest PSX Tyres
- By TT News
- July 16, 2026
Galaxy, a leading global brand of construction, earthmoving and material handling tyres, has announced its entry into the rapidly expanding UTV and ATV market. The company is launching two flagship product lines, the Hulk PSX and the Everest PSX, which build upon the firm’s century-long heritage in engineering high-performance tyre solutions.
The new tyres are specifically engineered for off-road and utility applications, promising superior durability, extended service life and enhanced traction on challenging surfaces. Both ranges also prioritise puncture resistance, stability and ride comfort, catering to a diverse array of recreational and operational needs.
The Hulk PSX is positioned for off-road enthusiasts, featuring a durable compound for longevity, tough sidewalls to resist cutting and a radial construction that supports high-speed performance. Its design includes shoulder blocks for improved cornering, a deep tread for traction, and a high tread-to-void ratio for stability, with various sizes available for 12- and 14-inch rims.
Conversely, the Everest PSX targets utility-focused users, offering resistance to cuts and abrasions, reduced vibration through pattern continuity and strong wet-surface grip. It includes rim protection and puncture-resistant features to ensure durability and is offered in multiple sizes for 12-, 14- and 15-inch rims to suit a wide range of UTV configurations.
Dyutiman Chattopadhyay, Chief Technology Officer, Yokohama-ATG, said, “Building on its 100+ years legacy, Galaxy’s entry into the UTV/ATV category is a strategic step in strengthening its presence globally. These tyres are designed to meet the evolving needs of customers seeking performance, reliability and durability in extreme conditions.”
Bridgestone Issues Summer Heat Safety Advisory For Motorists
- By TT News
- July 16, 2026
Bridgestone has issued a comprehensive advisory for motorists confronting the perils of summer heatwaves, which present significant challenges for both drivers and their vehicles. The combination of scorching tarmac, fully laden holiday luggage and extensive motorway travel can subject tyres to extraordinary strain. In response, the tyre manufacturer has outlined essential precautions to enhance road safety during elevated temperatures.
When temperatures climb beyond 30 degrees Celsius, the company emphasises the need for drivers to prioritise personal wellbeing. Adequate hydration and regular respite are paramount, as excessive heat can impair concentration and slow reaction times. Experts suggest scheduling a break at least every two hours, while seeking shaded parking areas is recommended to curb heat accumulation inside the vehicle.
Beyond passenger comfort, Bridgestone highlights critical technical considerations for hot weather. Tyres are particularly susceptible to added stress, prompting the company to urge pre-trip inspections. Prior to lengthy excursions, tyre pressure should be checked when cold, as heavier holiday loads require adjustment. Under-inflation can exacerbate heat generation, adversely affecting wear, stability and braking distances, with specific pressure guidelines often available for laden vehicles.
Driving behaviour requires modification under these conditions. High speeds on hot road surfaces generate significant additional heat within tyres, a risk that escalates with a full vehicle or trailer. Bridgestone counsels motorists to moderate speed and adopt a smooth driving style. A visual inspection for cracks, bulges or embedded debris is also imperative, as high temperatures intensify the effects of damage, with older tyres being especially vulnerable.
The advisory also addresses unpredictable summer weather, where heatwaves can abruptly give way to thunderstorms and heavy rain. The sudden shift from hot tarmac to a wet surface places tremendous demands on tyres and drivers. Maintaining sufficient tread depth and equipping the car with high-performance summer tyres is essential for effective water dispersal and control during these sudden changes.
Bridgestone points to its Turanza 6 tyre as a solution for these demands, offering excellent wet grip and short braking distances on wet roads. This premium touring tyre also provides enhanced driving comfort, improved mileage and optimised fuel efficiency. Motorists can therefore navigate changeable summer weather with heightened confidence and peace of mind.
Andy Mathias, Head of Marketing, North Europe, said, “The high temperatures we are currently experiencing in many parts of Europe pose particular challenges for drivers and vehicles. This makes it all the more important to pay special attention to road safety. With well-maintained tyres, regular checks and anticipatory driving, motorists can significantly improve their own safety and that of their passengers.”
AZuR Launches European Project Group To Advance Tyre Retreading Industry
- By TT News
- July 15, 2026
The Alliance for the Future of Tires (AZuR) is broadening its international footprint with a new European project group focused on tyre retreading. An inaugural online meeting for this initiative is scheduled for 22 July 2026, marking the first step in creating a pan-European network uniting companies, research bodies and sector specialists.
Retreading extends the lifespan of premium tyre casings, conserving raw materials and reducing CO₂ emissions while supporting Europe's circular economy. The sector faces regulatory shifts, including the ESPR Regulation, the Digital Product Passport and heightened traceability mandates.
The AZuR project group will serve as a permanent forum for retreaders, tyre makers, equipment suppliers, research institutes and associations. The agenda prioritises innovation, digitalisation, legislation, best practices and joint ventures, with the kick-off session defining the group's mission, thematic focus and structure.
The online meeting via Microsoft Teams on 22 July from 10:00 AM to 12:00 PM CEST invites existing AZuR partners and new European stakeholders. Retreaders, manufacturers, academic institutions and associations are encouraged to participate and shape the platform from its inception.
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