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)

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The Indian tyre major adds 22-inch SUV tyres, new truck and bus sizes and racing motorcycle tyres to its second factory

CEAT has expanded manufacturing at its Chennai plant to produce more premium tyres for India, Europe and North America, the Indian tyremaker.

The expansion covers passenger car and sports utility vehicle (SUV), commercial vehicle and two-wheeler tyres.

CEAT said it had developed the capability to make the SportDrive SUV ZR22, making it the first Indian tyre company to produce 22-inch tyres in India. The range, aimed at large-rim, ultra-premium SUVs, uses CEAT CALM technology and is being introduced for sale in India.

The plant also makes the 4SeasonDrive+, an all-season tyre to European standards, designed for changing weather with a focus on wet grip. Another product, the CrossDrive RT, is a rugged-terrain tyre developed for the US off-road market. CEAT said it also suits regular road use and widens its premium SUV range in India.

Arnab Banerjee, managing director and chief executive, said: "The Chennai plant is an important part of CEAT's growth in India and international markets. The expanded capabilities allow us to manufacture increasingly sophisticated products across passenger vehicles, two wheelers and commercial vehicles, while responding to the distinct requirements of customers in markets such as Europe and North America. This investment strengthens our ability to compete in premium segments with products developed and manufactured in India."

Truck and bus tyres

The plant can now make seven advanced truck and bus radial (TBR) sizes for some of the fastest-growing premium segments in Europe and North America. CEAT said fleets now want lower fuel consumption, better ride comfort and handling, and readiness for electric vehicles, as well as durability and mileage.

The company said its new wide-base tyres can replace the traditional two-tyre arrangement on each wheel. That makes vehicles lighter, improves fuel efficiency and frees capacity to carry more load. The low-profile sizes are aimed at modern tractors, regional haulage, trailers and urban distribution fleets.

The plant is also scaling up production of light truck steel radial tyres in 15-inch, 16-inch and 17.5-inch sizes. CEAT said demand is rising in India and overseas as manufacturers introduce new light trucks and buses.

Two-wheeler range

In motorcycles, CEAT's SportRad Racing Slick range has been developed for racing and tested on demanding tracks by expert riders. The SportRad ST is a sport-touring range for motorcycles above 650cc, designed for long-distance riding, high-speed stability and cornering grip.

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Nova Motorsport has secured a multi-year agreement to become the Official Tyre Partner of the PartsForCars.ie Irish Rallycross Championship (IRX). The deal, struck with championship promoter Mondello Park, also brings in leading Irish motorsport supplier Euro M-Sport as a third partner. Under the arrangement, Nova Motorsport will serve as the exclusive tyre supplier to three headline classes from Rounds 3 and 4 of the 2026/27 season onward.

The affected categories are Supercar, Super Buggies and FIA Cross Car. Euro M-Sport will be present at every IRX event to supply and fit Nova Motorsport tyres for all competitors in these classes, ensuring consistent product availability and expert trackside assistance throughout the campaign. The collaboration links Ireland’s foremost rallycross promoter with a tyre brand whose lineage is deeply rooted in the discipline.

Nova Motorsport manufactures the former Avon Motorsport range under licence and owns the assets and intellectual property previously employed to produce Cooper Tires competition products. This gives the brand direct continuity with tyres that have long dominated rallycross, from national events to the FIA World Rallycross Championship. In the Supercar class, IRX competitors will use the Nova ACB11 in 225/640-17 fitment, with the Nova RALLYCROSS WET 210/635R17 available for wet conditions.

The ACB11 stands as the most successful rallycross tyre ever produced, with 10 FIA World Rallycross Championship titles, over 20 consecutive European crowns and numerous national honours. Relaunched in 2024, it is manufactured in Portugal using the original moulds, compound and construction, allowing IRX drivers to race on the same specification that has defined the sport’s elite level. Super Buggies and FIA Cross Car will run the all-new Nova ZZXC, revealed in August 2026 and developed specifically for Cross Car competition.

The ZZXC is Nova Motorsport’s first clean-sheet design. Its asymmetric rear tread fits either side of the car, reducing spare requirements, while a larger-block outer shoulder boosts durability and a more open inner pattern generates traction. Tyre pressure adjustments alter the rear profile for dry, wet or muddy conditions. Benchmark testing with three-time FIA European Cross Car Champion David Méat confirmed strong start-line traction, lateral grip and durability. The partnership also includes branding on every car in the exclusive categories, winner’s caps, Mondello Park signage, digital promotion and website features.

Roddy Greene, Managing Director, Mondello Park, said, “We are excited to have Nova Motorsport as our Tyre Partner as we enter a new era in the promotion of the Irish Rallycross Championship. Although Nova Motorsport is a relatively new company, it comes with a huge heritage, particularly in rallycross. Rallycross demands specialist tyres, so bringing on board a company as synonymous with rallycross as Nova Motorsport was an easy decision. We look forward to working with Nova as we continue to promote rallycross within Irish Motorsport.”

Matthew Vincent, Senior Product Category Manager, Nova Motorsport, said, “Nova Motorsport is proud to become Official Tyre Partner of the Irish Rallycross Championship. Irish rallycross has a long history and a passionate following, and under Mondello Park’s promotion, the IRX is a championship with real momentum. This agreement reinforces our commitment to rallycross at every level of the sport and gives us the ideal platform to bring both the ACB11 and the all-new ZZXC to a new group of competitors. The ACB11 needs little introduction. It is the most successful rallycross tyre ever made, and IRX Supercar drivers will race on exactly the construction and compound that has won world championships. The ZZXC is the first product we have created from a clean sheet, developed specifically for Cross Car, so it is fitting that the Super Buggies and FIA Cross Car classes will be among the first to compete on it. With Euro M-Sport delivering trackside supply and fitting at every round, competitors can be confident of consistent product and the highest level of support throughout the season.”

Mick McCullagh, Director, Euro M-Sport, said, “Rallycross, with the help of Mondello Park, has gone from strength to strength and is now one of the most exciting spectacles in Irish Motorsport. Euro M-Sport has a growing professional track record across multi-discipline motorsports, such as BSB, WEC, Motorsport Ireland Stages Events and contractual work with OEM Manufacturers. We are now delighted to partner with Nova Motorsport and the IRX to provide a world-class tyre and fitting service and help continue the growth of Rallycross in Ireland.”

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Hankook Tire has been named a Finalist in two categories at the 2026 International Design Excellence Awards, presented by the Industrial Designers Society of America. The IDEA programme ranks among the world’s three leading design honours, alongside Germany’s Red Dot and iF awards, with entrants judged across more than 20 categories on factors such as innovation, user experience and social responsibility.

One finalist entry came in the Social Impact Design category for re:move, an upcycling initiative that converts tyre-curing bladders into new resources. Developed with Seoul National University’s DISCO Lab, the Bladder Upcycling Series includes furniture, bricks and lifestyle products, while a Kinetic Wall built from those bricks expresses the company’s sustainability vision. The project has now collected four major international design honours this year, adding the IDEA recognition to a Red Dot Winner title, an A’ Design Gold award and a Green Good Design award.

The second finalist placement, in Concepts and Speculative Design, went to WheelBot2, a modular robotic wheel system. Using built-in and crab-walk drive motors, it achieves three-axis movement and full 360-degree omnidirectional motion, allowing precise control in tight spaces and along complicated routes. Judges praised the concept for expanding mobility possibilities in an era of smart cities and autonomous driving.

Hankook Tire’s latest showing follows success across all three of the world’s top design competitions, underscoring its global design credentials. The company has continued to sharpen that competitiveness by pushing innovation further into future mobility and sustainable design while reinforcing the premium positioning of its unified global brand, Hankook.

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Fornnax Technology has received the Special Export Award – Rubber Machinery for 2025–26 from the All-India Rubber Industries Association (AIRIA). The recognition stems from the company recording the highest export volume of tyre recycling plants to Europe, marking a significant achievement in its international trade performance.

For more than 10 years, Fornnax has driven innovation within India’s tyre recycling sector. The firm now holds a 90 percent share of the domestic market, while exports constitute 30 percent of its operations, serving regions such as Europe, Australia and the GCC. Its integrated, high-capacity recycling lines and shredding systems support a more circular ecosystem.

The company’s approach centres on complete infrastructure rather than standalone equipment, combining multiple shredding and size-reduction stages to boost throughput and reliability. Fornnax aims to expand its global footprint and advance technologies suited to rising international recycling demands.

Jignesh Kundaria, Founder and Director, Fornnax, said, “This honour from AIRIA is a reflection of an incredible journey we have undertaken over the years. When we started Fornnax, there was no established recycling industry in India to follow. We chose to build for the future instead. Today, when you see India’s tyre recycling sector, it has already transformed into a dynamic, high-growth industry, and we are proud to have played our part in building it.”

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