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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Scandinavian Enviro Systems AB (publ) has taken a significant step forward in its Nordic expansion by submitting an environmental permit application for its first wholly owned, full-scale pyrolysis plant in the region. The company has also secured an exclusive option to purchase the property where the facility is intended to be located.

Designed to process over 70,000 tonnes of end-of-life tyres annually, the proposed plant represents a core pillar of Enviro’s long-term strategy focused on wholly owned facilities. The permit submission and property option mark continued execution of the company’s industrial scale-up, supported by constructive dialogue with relevant authorities and stakeholders. Preliminary feedback from regulators could arrive before the end of the second quarter of 2026.

While the property option allows Enviro to reserve the site ahead of a final investment decision, the planned establishment remains conditional on receiving the necessary environmental approvals, a final investment decision and other standard project requirements.

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The U.S. Tire Manufacturers Association (USTMA) has thrown its support behind a legislative provision known as Section 114, or Advancing Tire Technologies, included in H.R. 7389. The House Energy and Commerce Committee voted favourably to advance the ‘Motor Vehicle Modernization Act of 2026’ during a markup session held yesterday. USTMA credited Congressman Russell Fry for his leadership on tyre safety and acknowledged the bipartisan committee staff work that successfully pushed for modernised federal motor vehicle safety standards.

The association stressed that tyres are critical to moving people and goods across the country. As representatives of the entire industry value chain, USTMA and its membership recognise the importance of fostering a safer and more connected society. The new language directs the Transportation Secretary to eliminate obsolete testing methods for radial tyres, update snow tyre failure modes, review similar updates for all tyres, adopt stricter speed symbol requirements and commission a GAO study to evaluate global regulations and recommend further safety improvements.

With the committee’s approval secured, USTMA has now urged all House members to pass the legislation on the floor and send it to the Senate for deliberation. The organisation is advocating for the removal of outdated plunger energy and bead unseat tests under federal standards while pushing for more stringent performance evaluations to ensure consumer access to the highest performing tyres available globally.

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Solvay has redirected funds from an internal carbon pricing mechanism on business travel towards local environmental projects, mobilising over EUR 750,000 since 2023. The company launched its Travel Carbon Fund that year, applying a EUR 100 per tonne of CO₂ levy on emissions from employee travel. Proceeds are reinvested directly at site levels into initiatives that might otherwise lack traditional investment backing.

In 2026, three new projects joined nine already-supported projects worldwide. In Dombasle, France, Solvay will restore more than 20 hectares of ecosystems and expand reforestation. In Brazil’s Paulínia and Santo André sites, two separate projects aim to boost energy efficiency, cut CO₂ output and conserve water. To date, collective results include nearly 72,000 trees planted, over 38,000 cubic meters of water saved annually and more than 80 hectares restored or replanted across seven countries.

These efforts have also helped reduce business travel emissions by 22 percent between 2024 and 2025. Solvay remains on track with broader sustainability targets, having already cut direct emissions by 29 percent against a 2030 goal of 30 percent, reduced value chain emissions by 13 percent toward a 20 percent goal and placed 16 percent of land under conservation or restoration towards a 30 percent target by the end of the decade.

Jean-Charles Djelalian, Chief Sustainability Officer, Solvay, said, “As a global company, we rely on business travel to stay close to our customers, develop strategic partnerships and engage with our teams. While the greenhouse gas emissions derived from our travels can be reduced through responsible practices, they cannot be eliminated entirely. The Travel Carbon Fund allows us to take responsibility for what remains and turn it into concrete sustainability projects, all while creating engagement and pride across our sites and teams. While relatively modest in scale, the Travel Carbon Fund illustrates a practical approach to scope 3 emissions: tackling what can be avoided and converting what remains into projects that deliver tangible environmental benefits.”

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Premium tyre manufacturer Hankook has secured a “Highly Recommended” rating for its Dynapro AT2 tyre in the Best Tyres for Pick-Up Trucks category of the DriverReviews 2026/27 Customer Choice Awards. The all-season Dynapro AT2 is engineered as a dependable all-terrain SUV tyre offering year-round safety and performance.

Three additional Hankook tyres also received recommendations in their respective segments. The Ventus S1 evo3 SUV, an ultra-high performance tyre blending sporty handling with everyday comfort, was cited in the Best Tyres for Large SUVs category. The Kinergy eco2 earned a nod in the Best Tyres for City Cars class for its efficiency and low running costs, while the Vantra LT, a durable light van tyre designed for high mileage and commercial use, was recognised in the Best Tyres for Vans category. These honours underscore Hankook’s consistent performance and popularity among drivers across France, Italy, Germany, and other key European markets.

Based on over 548,000 verified customer reviews, the DriverReviews awards reflect genuine on-road experiences across diverse vehicles and conditions, making the platform one of Europe’s largest and most trusted independent review sites. Since partnering with DriverReviews in 2021, Hankook has repeatedly demonstrated its innovative range and reliability, reinforcing its continental reputation for quality and customer satisfaction.

Paul Emery, Sales Director, Hankook Tyre UK, said, “We are delighted to be recognised across four categories in the DriverReviews 2026/27 Customer Choice Awards. Our longstanding partnership with DriverReviews continues to be incredibly valuable, as it reflects genuine customer feedback from across Europe. These results are a testament to the quality and performance of our tyre range, and further reinforce Hankook’s reputation as a trusted choice for drivers.”

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