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)
Michelin Launches Next-Generation XHA3 Tyre for Construction Sector
- By TT News
- August 26, 2026
Michelin has introduced the new MICHELIN XHA3 tyre, a next-generation product engineered to meet the escalating productivity demands of modern construction equipment. Building on the established legacy of the MICHELIN XHA2, this latest release is designed to support faster operational cycles and the increased capabilities of contemporary machinery, all while prioritising uptime and efficiency through a combination of versatility and innovation.
Developed for a broad spectrum of heavy machinery, the MICHELIN XHA3 is suitable for loaders, articulated dump trucks and graders, covering E3, L3 and G3 applications. Its multi-machine design allows it to perform effectively across diverse terrains, ranging from mud and asphalt to more aggressive environments. This adaptability not only simplifies fleet management but also reduces inventory complexity by minimising the number of tyre references needed on site.
The tyre’s advanced structure and new tread design, which incorporates increased rubber volume, deliver up to 20 percent greater wear life compared to the previous generation. Enhancements such as a reinforced bead area provide up to 20 percent additional load capacity depending on the size, accommodating high-torque machinery. Furthermore, the new four-block tread pattern and optimised shoulder radius improve traction and stability, contributing to reduced vibration and enhanced operator comfort.
A standout feature of the MICHELIN XHA3 is the patent-pending Michelin Visual Pressure Control, an integrated sidewall indicator that allows for immediate visual inspection of tyre inflation without the need for sensors or electronic devices. This system facilitates routine safety checks and streamlines workflows, contributing to lower maintenance costs and reduced unplanned downtime. With a high retreadability rate and an estimated 16 percent reduction in Total Cost of Ownership, the tyre is positioned as a durable, reliable solution that will be progressively rolled out worldwide in multiple dimensions.
Continental Unveils ZEvRA Concept Tyre With 43 Percent Recycled Materials
- By TT News
- August 26, 2026
Continental has unveiled a concept tyre developed under the EU-funded ZEvRA project, which is composed of approximately 43 percent recycled materials. The innovation serves as a demonstration of the potential inherent in advanced material approaches while simultaneously underscoring the critical need for a dependable regulatory framework to facilitate the industrial-scale adoption of recycling technologies.
The technical achievement is set against the backdrop of the ZEvRA initiative, an acronym for ‘Zero Emission Electric Vehicles Enabled by Harmonized Circularity’. This two-year EU project, slated to conclude in 2026, is dedicated to enhancing the circular economy for electric vehicles across the entire value chain. As the sole tyre manufacturer participating in the consortium, Continental brings specialised expertise to the collaborative effort.
Addressing the complexities of tyre production, which requires a precise balance of numerous high-performance raw materials to guarantee safety, efficiency and durability, the concept tyre represents a significant milestone. The successful integration of a substantial proportion of recycled content into a safety-critical component, without compromising performance standards, highlights the compatibility of ecological responsibility and product excellence. The tyre has achieved the highest possible rating on the EU rolling resistance label.
The ZEvRA concept tyre incorporates a variety of recycled materials, including tall oil, steel, rubber derived from end-of-life tyres and polyester fibres sourced from recycled PET bottles. Continental employs advanced methodologies such as pyrolysis to extract recovered carbon black from old tyres for repurposing. Since 2023, this material has been utilised in all newly manufactured solid rubber tyres at the Korbach facility. Additionally, the company uses sand residue from foundries in a recycling process to produce an alternative silica variant, effectively keeping materials in circulation and reducing the demand for primary resources.
Continental executives have articulated the strategic importance of this development. Dr Andreas Topp, head of Platform Development and Industrialization for passenger-car tyres, emphasises that while circular materials are key to sustainable mobility, the full impact of technological progress requires reliable and aligned policy frameworks. Jorge Almeida, head of Sustainability for Continental’s Tires group sector, stresses the necessity of establishing innovative recycling technologies on an industrial scale and creating closed material flows. He advocates for a standardised, transparent approach to calculation and reporting, developed through close dialogue between policymakers and stakeholders.
Beyond the recycled content, the concept tyre also features approximately 13 percent renewable raw materials and 25 percent mass-balance-certified materials, bringing the total share of sustainable sources to over 80 percent. Continental is progressively increasing the use of such materials across its portfolio, with the share of purchased renewable and recycled production materials reaching 28 percent in 2025, with a target of at least 40 percent by 2030. Insights from the ZEvRA project will guide the company’s future development of materials and technologies, focusing on industrial availability and scaling manufacturing processes.
Doublestar Showcases Customised Tyre Solutions At Latin Tyre & Auto Parts Expo 2026
- By TT News
- August 25, 2026
Doublestar Tire emerged as a prominent exhibitor at the 2026 Latin Tyre & Auto Parts Expo in Panama City. The premier industry gathering for the Americas attracted over 700 international exhibitors and more than 30,000 professional trade visitors, providing a substantial platform for automotive parts and tire manufacturers.
The Panamanian event serves as a critical commercial gateway, radiating trade opportunities across more than 20 neighbouring nations. Given Latin America’s varied topography and climatic extremes, which demand superior tyre resilience and wet traction, Doublestar has collaborated with regional partners to engineer customised products. These targeted solutions have secured considerable market acceptance and popularity throughout the area.
Among the showcased innovations, the TBR tyre D902 integrates a wear-resistant compound with an advanced tread pattern, ensuring dependable stability for long-haul routes in tropical heat. The DSU02, a premier passenger car tyre, demonstrates exceptional protection against abrasion and impact, coupled with superior handling in both wet and dry conditions. A diverse portfolio of economically priced models further drew significant attention from purchasing agents.
This strategic participation has notably amplified Doublestar’s brand presence across the American markets and established a robust framework for deeper local engagement. Committed to delivering high-performance, value-added transportation solutions, Doublestar continues to reinforce the international standing of Chinese tyre manufacturers through quality-driven innovation.
Barez Marks 29 Years On Tehran Securities Exchange Amid Market Dominance
- By TT News
- August 25, 2026
Barez Industrial Group, Iran’s leading tyre manufacturer, observed its 29th consecutive year of activity on the Tehran Securities Exchange during a commemorative event held on 23 August 2026. The gathering featured the traditional exchange bell ceremony, underscoring the company’s enduring footprint in Iran’s capital markets.
Speaking on the occasion, Jamal Mirzaei, CEO of Barez Industrial Group, spoke of the organisation’s momentum, asserting that current undertakings and forward-looking blueprints are steadily carving out its tomorrow. The firm’s leadership used the platform to reaffirm its commitment to sustained growth and operational excellence.
Originating as a provincial manufacturer in Kerman back in 1985, Barez has since risen to become a linchpin of the national tyre industry. Strategic upgrades to production lines and the integration of cutting-edge manufacturing processes have propelled its reach beyond borders. Since joining the TSE in 1997, it has outshone six other listed peers in the rubber and plastics category, claiming the largest share of the sector’s overall valuation, which exceeded IRR 330 trillion at the prior session, with the group responsible for over IRR 120 trillion of that figure.
The proceedings also included an award presentation, with TSE Chief Mahmoud Goudarzi offering a commemorative token to Mirzaei in appreciation of the firm’s three-decade record of transparent engagement with the exchange. Later, a press engagement allowed the executive team to walk reporters through notable milestones, pipeline ventures and strategic forecasts, fostering a clearer view of the company’s roadmap for investors and analysts alike.
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