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 Signals Long-Term European Commitment At THE TIRE COLOGNE 2026
- By TT News
- June 12, 2026
ZC Rubber made a strategic statement at THE TIRE COLOGNE 2026, held from 9 to 11 June, using the event to reaffirm its enduring dedication to the European automotive sector. The manufacturer placed its advanced WESTLAKE and GOODRIDE tyre families at the forefront of its exhibition.
A clear strategic pivot for the region was evident, as the company mapped out a wider European direction. Visitors were shown a full pipeline of new passenger car and light truck tyres destined for a second-half 2026 release, presented alongside the proven commercial truck portfolio and a handful of carefully selected previews set for 2027.
Considerable interest gathered around the passenger car and light truck offerings, specifically the upcoming summer and all-season ranges. Performance enthusiasts examined the WESTLAKE ZuperFlex Z-137 and GOODRIDE RideMax G-147 for ultra-high-performance vehicles, while off-road specialists focused on the WESTLAKE TERRA LEGEND SL399 and GOODRIDE MUD LEGEND SL388.
The WESTLAKE Zuper4S Z-411 emerged as a central solution for Europe’s unpredictable seasons. Engineered to manage wet roads, snow and dry tarmac in one package, the tyre uses V-shaped grooves to rapidly clear water and slush. Its high-density 3D siping provides braking stability on icy surfaces, while a specialised compound ensures consistent grip and long life across wide temperature ranges.
Within the commercial truck arena, ZC Rubber highlighted its established WESTLAKE Gen II series, already valued by European fleets for mileage. The WSL2 steer tyre was presented as a tool for stable handling and fuel savings, featuring optimised pressure distribution and a low-heat compound. The WDL2+ drive tyre was shown to deliver strong traction and even wear thanks to its rigid blocks and belt-wrap technology. Motorsport attendees saw the upgraded WESTLAKE Sport RS2 displayed alongside the Red Bull Driftbrothers’ drift car, a product of close racing collaboration now under consideration for future public sale.
The company also offered glimpses of 2027 innovations, including the WESTLAKE Z-301 van tyre, the GOODRIDE All Season G-721 and new truck solutions like the WTL2 and GOODRIDE M2. The latest passenger car and light truck tyres are expected across Europe in the latter half of 2026, while the premium WSL2 and WDL2+ truck tyres are already available. ZC Rubber confirmed it will continue advancing product development and regional support tailored to Europe’s varied climate and transport needs.
Leo Liao, General Manager, ZC Rubber Europe, commented, “The Tire Cologne gave us an important opportunity to show not only a broader product portfolio but a clearer direction for Europe. We are focusing on products that respond to the way European customers actually drive, operate and make purchasing decisions – from year-round mobility to long-haul efficiency and durability. These products reflect how we are listening to European customers and partners, and how we are building a portfolio that is more closely aligned with local market needs.”
Nokian Tyres Launches Road Trip Guide Featuring Driver-Submitted Destinations
- By TT News
- June 12, 2026
Nokian Tyres has launched its Road Trip Guide consumer campaign, running from Monday through 19 June at NokianTyresdotcom/Guide. The initiative, themed around real drivers, real destinations and real roads, invites motorists to submit lesser-known travel spots including roadside diners, remote trails, scenic views and unique landmarks.
The campaign website includes a tyre quiz to assist drivers in selecting the appropriate tyres for their journeys, along with safety tips designed to keep attention on the scenery rather than roadside issues. On its social media channels, including Instagram, Facebook, TikTok and Threads under the handle @NokianTyresNA, the global tyre maker is sharing road trip safety advice, aspirational travel ideas and destination recommendations from tire dealers.
Several all-season, all-terrain and all-weather tyres from Nokian Tyres’ North American factory in Dayton, Tennessee, supply shops across United States and Canada. Popular models include the Nokian Tyres One, the Outpost all-terrain family, the all-weather Remedy WRG5 and the Surpass AS01, an ultra-high-performance tyre with puncture-resistant Aramid fibres introduced last year. The company, which invented the winter tyre, also unveiled the studded Hakkapeliitta 01, the first studded winter tyre with on-demand grip, available at tyre shops this fall.
Beyond the guide, Nokian Tyres is engaging travellers through a partnership with Alterra Mountain Company and appearances at Overland Expo events across United States. Globally, the company served as an Official Sponsor of the 2026 IIHF Ice Hockey World Championships, which concluded at the end of May.
Hans Dyhrman, Director of Marketing, Nokian Tyres North America, said, “Safety is the foundation of every journey, from daily errands to cross-country road trips. Our Road Trip Guide is a great place for drivers to turn for inspiration and information that will help them make the most of their summer travels.”
Michelin Puts Speciality Tyres In The Spotlight As Growth Driver
- By TT News
- June 12, 2026
Michelin has redirected industry focus towards its speciality tyre division, a lesser-known but strategically essential part of the group’s operations. During its latest Media Day, held on 9 and 10 June 2026, the company welcomed visitors to its Almería Test Center in Spain, known as CEMA – a facility deliberately chosen for its exposure to Europe’s most punishing weather conditions. At this site, the group rigorously pushes its products to their breaking points, underscoring how critical this lesser-known division is to overall corporate strategy.
Specialty tyres are presented as vital components for industries where operational failures carry severe economic and human risks. They ensure safe aircraft landings, maintain continuous mining output and boost agricultural machinery performance under strict technical and regulatory demands. Rather than simple rubber parts, these products function as high-technology assets that keep the global economy running smoothly, performing reliably in some of the harshest environments on earth.
Financially, this segment has become Michelin’s most lucrative tyre activity, generating 17 percent of group revenue with a 13.1 percent operating margin in 2025. First-quarter 2026 data showed volume growth of 2.5 percent, with further expansion expected in structurally growing markets like air transport, logistics and defence, where annual growth rates range from three to eight percent. Research and development investments, 90 percent of which remain in France, support this trajectory alongside a manufacturing scale-up at Bourges and new industrial processes in Le Puy, Troyes and Montceau-les-Mines.
Michelin enhances client performance through specialised teams, digital services and enduring partnerships backed by 6,000 researchers and deep materials science expertise. Motorsport activities accelerate innovation by pushing tyres to their limits, while the CEMA facility itself serves as a unique living laboratory. With 113 kilometres of tracks, vast terrain and custom-built measurement tools from Clermont-Ferrand engineers, the centre is far more than a test track, standing as a central pillar of Michelin’s innovation strategy.
Pirelli P Zero Trofeo RS Breaks Seven-Minute Barrier With Electric Porsche At Nürburgring
- By TT News
- June 12, 2026
Pirelli has achieved a historic electric vehicle lap record at the Nürburgring, courtesy of its P Zero Trofeo RS semi-slick tyres fitted to a Porsche Taycan Turbo GT with Manthey Kit. The car demolished the traditional seven-minute barrier by posting 6:55 minutes, outperforming all other production electric vehicles on the punishing circuit. A bespoke tyre version delivered decisive extra grip. This result marked a major improvement over the 2023 benchmark of 7:07.5 set by the Taycan Turbo GT Weissach. The rubber also features Pirelli Elect technology, designed to boost electrified vehicle dynamics.
The latest Nürburgring triumph cements the P Zero Trofeo RS as the definitive track tyre. Originally created as original equipment for hypercars and supercars, including custom variants for the Porsche 911 GT3 and GT3 RS, it has now entered the replacement market. This move brings Pirelli’s expertise from premium fitments directly to customers. Intended for drivers who demand ultra-high performance, the tyre also carries road homologation despite its track-focused design.
Developed specifically for the Porsche Taycan Turbo GT with Manthey Kit, this tyre is the first production model made with over 50 percent certified bio-based and recycled materials to contribute to a Nürburgring record. A dedicated logo on the sidewall identifies this composition. The natural rubber used holds Forest Stewardship Council certification, ensuring responsible supply chain management.
The P Zero Trofeo RS has recently earned top recognition from Tyre Reviews as the finest among the fastest tyres globally, citing dry grip and consistency. Auto Bild Sportscars also gave an exemplary rating after comparing five road-legal semi-slick tyres. Since its debut, the tyre has accumulated multiple records on the German circuit, including three in 2025: the electric vehicle lap record, the first 7:30 time for compact cars and the fastest touring car record.
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