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)
Hankook Dynapro R213 Tyres Power WRC Rally Chile Biobío As Solberg Seals Second Win
- By TT News
- September 15, 2026
Hankook Tire, the exclusive tyre supplier for the FIA World Rally Championship, wrapped up its support for the 12th round of the season. The WRC Rally Chile Biobío concluded on 13 September near Concepción, Chile, with Hankook’s off-road Dynapro R213 tyres proving central to the event.
The rally featured 16 special stages covering 311.18 competitive kilometres. Competitors tackled forest roads and rugged, unpaved mountain terrain around Concepción and the Biobío region, beside Chile’s Pacific coast. The route blended fast corners with compacted gravel made of volcanic ash particles and small stones, severely testing both drivers and tyres. Repeated runs over rough ground magnified the difficulty.
Hankook’s Dynapro R213 was available in Hard and Soft compounds, letting teams strategically select tyres for surface and weather conditions. The tyre offered flexibility on steep slopes and across varied ground, from soft earth to thick gravel. Oliver Solberg of Toyota GAZOO Racing claimed his second win of the season, following his Rallye Monte-Carlo triumph. The result also earned Toyota the 2026 Constructors’ Championship, its sixth straight since 2021 and tenth overall.
The 2026 WRC season now moves to the 13th round, WRC Rally Italia Sardegna, scheduled for 1–4 October near Alghero, Sardinia. That event combines demanding coastal and interior mountain roads, with tight corners and blind crests that restrict forward visibility, placing high demands on tyre traction and durability.
Bridgestone Launches VHS3 Crane Tyre With Longer Wear Life
- By TT News
- September 15, 2026
Bridgestone has unveiled the V-Steel Highway Service 3 (VHS3), a new high-speed radial tyre engineered for mobile all-terrain cranes. As a global leader in premium tyres and sustainable mobility solutions, the company designed the product to enhance vehicle and fleet performance. The VHS3 delivers improved wear life while helping reduce downtime and maintenance costs, enabling operators to perform confidently in demanding environments.
Compared with its predecessor, the VHS2, the new tyre offers up to 12 percent longer wear life. Bridgestone achieved this through an advanced rubber compound technology and an optimised contact area that minimises irregular wear. A new tread design featuring wide grooves and extended lug blocks further combines longer wear life with improved grip and stability on highways and off-road terrain.
The VHS3 is also 24 kg lighter than the VHS2, assisting fleets in reducing fuel consumption and operational costs while maintaining durability and improving load capacity. This results from a lighter casing design with a lighter belt construction. Bridgestone's new crane tyre will be available from September 2026 in size 445/95R25 178F.
Bas Rijpma, Fleet Manager, Sarens Netherlands, said, "In our business, reliability, uptime and efficiency are critical. Bridgestone has been a trusted partner to Sarens for more than a decade. As the next generation crane tyre, the VHS3 is already delivering very promising results. We have observed no irregular wear, the robustness we require for demanding heavy transport operations and favourable fuel efficiency potential thanks to its lighter weight. Combined with the TPMS solution, which gives us real-time insight into tyre pressure and temperature, the VHS3 helps us optimise tyre performance and minimise downtime. Together with low noise levels, it gives us confidence that Bridgestone VHS3 is setting a new standard for crane tyre performance."
VMI Raises Euro 125,145 For Ventoux3 Charity Event
- By TT News
- September 15, 2026
VMI has raised Euro 125,145 for the Ventoux3 fundraising event in support of the Erasmus MC Foundation, marking the highest amount the company has generated for a charitable initiative.
The funds were raised through participation in Ventoux3, an annual sporting challenge held in the south of France. On 11 September, 66 employees of VMI climbed Mont Ventoux by road bike, mountain bike and gravel bike, as well as by running, walking and hiking. Participants completed between one and four ascents of the mountain, supported by a company team providing logistical and on-route assistance.
Proceeds from the event will support research into new treatments for brain cancer, conducted by the Erasmus MC Foundation, with the aim of improving outcomes for patients following diagnosis.
VMI presented the donation during an evening event, contributing to a total of €584,391 raised by all Ventoux3 participants.
The company organises an annual charitable challenge, with this year’s total representing a record contribution.
VMI is a wholly owned subsidiary of TKH Group N.V., with operations across Europe, Asia and the Americas and a workforce of more than 1,800 employees worldwide.
Goodyear Upgrades UltraGrip Arctic 2 To Meet Traficom A+ Standards
- By TT News
- September 15, 2026
Goodyear has upgraded its studded winter tyre, the UltraGrip Arctic 2, to meet evolving Nordic regulations. The tyre now complies with the latest Traficom A+ requirements, which apply to all newly produced studded passenger car tyres from 1 January 2027. The redesign introduces a new stud pin geometry while keeping the same number of studs, reducing road wear without sacrificing winter performance.
The company is also streamlining its product naming. The UltraGrip Arctic 2 designation will now cover all sizes, with the previous SUV-specific line discontinued. Updated tyres will carry a Traficom A+ sticker and comply with the latest UNECE regulation. Three new sidewall markings will appear: an updated 3PMSF symbol featuring the ‘Ш’ character, an ice symbol and the word ‘STUDDED’, improving transparency across markets.
The range is expanding with seven additional SKUs in 18 inches and above, bringing the total to 122 SKUs. This strengthens coverage for vehicles such as the Audi e-tron, Volvo EX60 and EX40, KIA EV5, Skoda Enyaq, Tesla Model 3, Volkswagen Tayron and ID. Buzz. Goodyear’s non-studded UltraGrip Ice 3 line is also growing, adding 18 SKUs for a total of 130, with 80 percent now in 18 inches and above. This improves compatibility with electric and high-spec vehicles including the Mercedes GLB EQ, Volvo EX60, Nissan Leaf, Skoda Elroq, Volkswagen ID.3 GTX, ID. Buzz, Tesla Model Y, ID.7 and Renault 5.
Engineered for Nordic conditions, the UltraGrip Ice 3 uses a softer compound for ice grip, an optimised footprint for stability on heavier vehicles, and high sipe density for traction on snow. Recognised in multiple Nordic winter tyre tests, it continues to deliver reliable real-world performance while Goodyear meets new regulatory demands without compromising the trusted grip, control and reliability of the UltraGrip Arctic 2.
Ben Glesener, Senior Technology Director, Product Development Consumer EMEA Goodyear, said, “We are continuously evolving our products to anticipate regulatory developments and customer needs. With the updated UltraGrip Arctic 2, we are ensuring drivers are ready for upcoming requirements while continuing to benefit from the outstanding winter performance they expect from Goodyear.”
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