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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Pirelli has designated the SC0 rear tyre as the new benchmark for Moto2 as the MotoGP World Championship resumes its season this weekend at Silverstone for the 12th round. The Italian manufacturer is supplying its standard range compounds for both support classes, with the updated SC0 making a notable return to the British circuit following its successful evaluation there last year.

The 2026-spec soft rear tyre, which initially debuted as a development prototype, features an altered structure from its predecessor and was universally embraced by competitors during practice sessions, even contributing to a new lap record. Its promotion to the standard lineup sees it joined at the rear by the new medium SC1 compound, formerly a development specification, while front tyre duties are covered by the soft SC1 and the medium SC2 options.

Silverstone presents a formidable technical challenge as the longest venue on the calendar at 5.9 kilometres, demanding exceptional machine and rider performance through high-speed corners and rapid directional shifts. The circuit’s low-abrasion surface and notably wide racing corridor allow for varied lines, adding another layer of strategic complexity to the already fast-paced weekend.

In the Moto3 class, Pirelli has made available the soft SC1 and medium SC2 compounds for both front and rear positions. The majority of the field last year favoured the medium SC2 at both ends, a choice that propelled José Antonio Rueda to victory from the back of the grid, though a segment of riders alternatively selected the softer SC1 option for their machines.

Giorgio Barbier, Pirelli Motorcycle Racing Director, said, “For this weekend's round at Silverstone, one of the most iconic and technically demanding circuits on the World Championship calendar, Pirelli will once again provide standard range tyres for both classes, featuring the rear soft SC0 compound that made its Moto2™ debut at this very circuit last year as the E0125 development option. The E0125, which complemented the then standard soft tyre, was immediately appreciated by the intermediate class riders, who, on a highly demanding circuit characterised by numerous high-speed corners and changes of direction where stability is essential, focused exclusively on this new solution from Friday onwards.

“Introduced again at subsequent events, the former E0125 quickly became the Moto2™ riders' benchmark, offering greater stability, outright one-lap performance and consistent performance across a wide variety of weather and track conditions. As a result, it was promoted to the new standard soft tyre for this season. More than a year after its debut, and thanks to the significant development work carried out by the teams during this period, the SC0 has already contributed to numerous lap records this season. Weather conditions permitting, it will therefore be interesting to see whether Silverstone can deliver further progress compared with last year's benchmark.”

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Hankook Tire, the exclusive tyre supplier for the FIA World Rally Championship, played a central role in the season's 10th round at Secto Rally Finland. The event concluded on 2 August in Jyväskylä, where the company’s Dynapro R213 extreme all-terrain rally tyre was put to the ultimate test across the demanding Finnish landscape.

Competitive action unfolded over 20 Special Stages, covering a total distance of 316.04 kilometres. Renowned as the fastest rally on the WRC calendar, the event subjected vehicles and tyres to extreme speeds. The challenging route was characterised by blind crests that impaired visibility, frequent jumps and narrow forest roads, placing a premium on tyre durability and overall driving stability.

The supplied Dynapro R213 tyre proved instrumental in managing these severe conditions. On the ultra-high-speed gravel sections, it effectively absorbed the impact of repeated landings while delivering consistent grip and precise steering response. Its robust construction ensured reliable performance across the loose dirt and forest roads, allowing competitors to push their vehicles to the limit.

Sami Pajari of Toyota GAZOO Racing claimed a home victory, securing back-to-back wins after his success in Estonia. This result advanced him to second in the Drivers’ Championship with 171 points. Looking ahead, Round 11 is the ueno Rally del Paraguay from 27 to 30 August, featuring gravel stages that will demand exceptional tyre resilience. Hankook applies data from its WRC involvement and other global motorsport events to its R&D, fostering continuous innovation and reinforcing its status as a leading global brand.

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Legislation aimed at overhauling decades-old federal tyre safety regulations has been introduced in the United States Senate. The Tire Safety Modernization Act of 2026, sponsored by Senators Roger Wicker of Mississippi and Raphael Warnock of Georgia, seeks to replace outdated testing mandates with contemporary performance standards that better reflect current manufacturing innovations and production techniques.

The proposed bill directs the Department of Transportation to revise federal testing protocols, retiring obsolete requirements in favour of more relevant criteria. A key component of the legislation involves aligning high-speed testing procedures with internationally recognised best practices while also clarifying existing safety criteria to ensure more effective regulatory oversight. The measure preserves a strong emphasis on passenger safety while adapting to the capabilities of modern tyre engineering.

Strong support for the initiative has emerged from the tyre manufacturing sector. Anne Forristall Luke, President and CEO of the U.S. Tire Manufacturers Association, praised the bipartisan effort as a crucial step towards aligning American rules with technological progress, bolstering road safety and enhancing the industry’s global competitiveness. Executives from major manufacturers, including Continental Tire, Goodyear and Yokohama, have similarly endorsed the update, noting that it would allow engineering and compliance resources to focus on innovations that genuinely benefit drivers.

Senator Warnock highlighted the importance of Georgia’s prominent tyre production sector, while Senator Wicker emphasised that federal regulations have failed to keep pace with evolving manufacturing technology. Industry leaders collectively view the act as a thoughtful, science-based modernisation that supports domestic manufacturing competitiveness and ensures that safety standards reflect the demands of modern vehicles, roads and driving conditions across the country.

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Bridgestone's e-CENTRE Excellence Programme has delivered a significant financial boost to two community organisations in South London, with nearly GBP 1,000 raised through a charity initiative run by Merityre Southfields, a flagship Bridgestone e-CENTRE. The campaign generated a total of GBP 938, which was evenly distributed between St Michael's Church Social Projects and the Friends of Wimbledon Park, both of which are vital to the Wandsworth area.

Over a five-month period spanning November and December 2025, as well as February to April 2026, motorists were given a one-pound donation token with every Bridgestone tyre purchased. Customers were then able to choose which of the two local causes would receive their contribution, resulting in GBP 464 for St Michael's and GBP 474 for the Friends of Wimbledon Park.

The funds allocated to St Michael's Church Social Projects will finance the installation of an additional water tap at its Kitchen Garden Project, located on the Church Memorial Field. Since its establishment in 2020, the garden has expanded into a productive allotment with over 30 raised beds, providing fresh organic produce for community lunches and a weekly food bank. The new tap is expected to reduce watering time for volunteers, enabling them to dedicate more attention to the retired, unemployed, isolated and vulnerable individuals who rely on the project for support, skill development and social connection.

Meanwhile, the Friends of Wimbledon Park will direct its share towards a new seating area in the Waterfall Garden, with any leftover funds supporting tree and bulb planting as well as maintenance materials. This retail-led effort exemplifies a core component of Bridgestone's broader e-CENTRE Excellence Programme, which has allocated over GBP 1 million to encourage retailers to adopt sustainable practices and foster positive social and environmental change within their localities.

Dene Arnold, Director, Merityre, said, “As a business rooted in the local community, we wanted to give our customers the opportunity to support causes that really matter to people in Southfields. We're incredibly grateful to everyone who got behind the campaign and helped us raise such a fantastic amount. Being part of Bridgestone's e-CENTRE network is about much more than providing premium products and services. It's about making a meaningful contribution to the communities we serve and creating a positive impact beyond the garage doors. It's especially rewarding to know exactly where the money is going. Whether it's helping volunteers continue to grow fresh produce for people in need or creating new spaces for the community to enjoy in Wimbledon Park, these are projects that will make a lasting difference locally.”

Gresia Cabrera, Bridgestone's Business Development Manager and project lead for the e-CENTRE programme, said, “Community engagement sits at the heart of the eCentre philosophy, so it's fantastic to see Merityre Southfields bringing that vision to life. The team continues to demonstrate that modern tyre retailers can be a force for good, supporting local people and causes while delivering outstanding service for motorists. Initiatives such as this show that the industry can make a genuine difference and create value far beyond tyres alone. One of the strengths of the e-CENTRE programme is that it empowers retailers to make a meaningful impact in the communities they serve. Seeing these donations translated into practical improvements that will benefit local people for years to come is exactly what the programme is all about.”

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