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)
AZuR To Make Case For Circular Tyre Economy At DKG's 100th Anniversary
- By TT News
- September 25, 2026
The AZuR network will take centre stage at the centenary annual conference of the German Rubber Society (DKG) in Fulda on 24 and 25 September 2026, where network coordinator Christina Guth will deliver a presentation titled ‘The Next 100 Years Are Circular’. Her address will illustrate how the network links rubber industry stakeholders and underline why collaboration across the entire value chain is indispensable to establishing a circular economy in the tyre sector.
Founded in Düsseldorf in 1926, the DKG marks its 100th anniversary by once again convening specialists from research, development and industry. The two-day gathering, held under the banner ‘100 Years of the DKG’, blends professional exchange with an examination of the sector's future direction. Guth's contribution centres on the argument that coming decades must be defined by circularity, as rubber and tyre manufacturers confront the pressing task of retaining products and raw materials in circulation for as long as feasible.
Achieving this demands more than isolated recycling solutions. It requires coordinated effort spanning producers, traders, collection and sorting operations, repair and retreading services, mechanical and chemical recycling, alongside science and policymaking. The AZuR network, established in 2020, now encompasses over 90 partners across Germany and Europe, uniting actors committed to a resource-efficient tyre circular economy. Science-industry cooperation features prominently, with materials analysis, life cycle assessments, sorting technologies and process research supplying the evidence base for advancing circular methods and informing sound commercial and political choices.
Numerous synergies exist between the DKG and AZuR, including expanded scientific exchange, joint work on recovered carbon black and other recyclates, quality standards for secondary raw materials, and knowledge transfer to emerging scientists and engineers. Guth maintains that materials expertise and circular economy competence are inseparable, arguing that reusing high-quality secondary raw materials in rubber compounds requires research, industry and recycling to jointly refine quality, processes and standards. The anniversary prompts AZuR to look forward, with digital product passports, circular design, greater secondary raw material use and shared quality standards offering pathways towards a circular tyre and rubber industry sustained by strong networks.
Just Tires Brings Tyre And Auto Care To Joliet Drivers
- By TT News
- September 25, 2026
Just Tires has opened a new location at 112 N Larkin Ave. in Joliet, bringing expert tyre and automotive care to a community known for its cruise nights and race weekends. The store welcomed customers on 23 September 2026, offering drivers a trusted destination for maintaining the vehicles that keep them moving.
Backed by more than 125 years of Goodyear expertise, the Joliet store’s technicians help customers select the right tyres and care for their vehicles, whether for daily commutes or trips to the track. The location carries a broad selection of Goodyear and Cooper tyres, including the Eagle F1 All Season for year-round performance, the Wrangler Steadfast HT for highway comfort, the Assurance WeatherReady 2 for all-weather driving and the ElectricDrive 2 for EV-focused performance, along with high-performance, all-weather and all-terrain options.
Services at the new store include tyre installation, TPMS sensors, air refills, oil changes, wheel alignments, brake service, battery replacement and free maintenance inspections. With cooler weather approaching, every service includes a complimentary Courtesy Tire & Maintenance Inspection covering tyre pressure, tread depth, battery, brakes and accessible fluids, plus free air to support proper inflation, performance and fuel efficiency.
To celebrate the opening, a sweepstakes running from 15 September through 15 October invites fans to purchase a set of four Goodyear tyres on Goodyear.com or through Goodyear Auto Service and Just Tires stores and submit an entry form. One randomly selected winner will receive a blimp flight certificate for two passengers, redeemable at any of Goodyear’s three US airship bases in Akron, Ohio, Carson, California or Pompano Beach, Florida.
Sri Trang Group Honoured With Plaque Of Appreciation At Mahidol Day 2026 Ceremony
- By TT News
- September 25, 2026
Sri Trang Group has been recognised for its philanthropic support with a plaque of appreciation at the Mahidol Day 2026 ceremony. The award was accepted by Somporn Pannarai, Chief Procurement Officer of Sri Trang Agro-Industry Public Company Limited (STA), on behalf of the Group's management. The presentation took place on 24 September 2026 at the Faculty of Medicine, Prince of Songkla University.
The plaque honoured benefactors who contributed to the work of the Faculty of Medicine and the Songklanagarind Hospital Foundation during the southern Thailand floods in 2025. Mahidol Day itself commemorates His Royal Highness Prince Mahidol Adulyadej and his lasting contributions to medicine and public health across the nation.
With its origins in southern Thailand, Sri Trang Group – represented by STA and Sri Trang Gloves (Thailand) Public Company Limited (STGT) – stated it was honoured to have backed initiatives benefiting the public. The Group reiterated its dedication to enhancing quality of life and supporting communities both in the South and throughout the country.
Endurica Founder To Receive ACS Rubber Division's Top Technology Honour
- By TT News
- September 25, 2026
Dr William Mars, Founder and President of Endurica, has been named the 2026 recipient of the Rubber Division, American Chemical Society (ACS) Melvin Mooney Distinguished Technology Award. The honour recognises exceptional technical competency demonstrated through significant and repeated contributions to rubber science and technology.
Dr Mars is widely regarded as a pioneer in elastomer durability, having developed critical plane analysis methods and fatigue life simulation techniques that are now employed throughout the global tire and rubber industry.
The award will be presented during a special event at the Global Polymer Summit (GPS), scheduled for 28–30 September in Louisville, Kentucky. As part of a science and technology awards symposium at the summit, the Endurica leader will deliver a special lecture.
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