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)
Hankook Ventus evo Earns Auto Express Summer Tyre Commendation For 2026
- By TT News
- July 13, 2026
Hankook Tire has earned a notable honour in the 2026 Auto Express Product Awards, with its Ventus evo model receiving a commendation within the Summer Tyre classification. The recognition places the company’s flagship ultra-high-performance tyre among the year’s most impressive automotive products as determined by the influential British publication.
This accolade traces back to an extensive comparative analysis conducted by Auto Express, the findings of which first appeared in the magazine’s August 2025 edition. The testing regimen focused on the widely used 225/40 R18 size and featured nine competing brands. The subsequent awards announcement, which included this commendation, was made public in the periodical's April 2026 issue.
Evaluation protocols were notably exhaustive, encompassing both wet and dry surface assessments alongside metrics such as rolling resistance and acoustic comfort. Wet-track drills scrutinised braking distances, cornering stability and aquaplaning resistance, while dry-track sessions measured steering precision, grip levels and chassis balance. Judges additionally conducted subjective road tests to gauge steering feedback and ride quality across diverse pavement types.
The Ventus evo ultimately claimed third position overall, distinguishing itself particularly through superior wet-weather capabilities, including braking performance that rivalled the category leader. Designed as the newest iteration of Hankook’s premier summer tyre line, the product incorporates sophisticated tread architecture aimed at premium sports sedans and coupes. This commendation bolsters Hankook’s reputation for engineering tyres that adeptly harmonise dynamic handling, safety margins and cost-effectiveness for discerning motorists.
Ho Seok Chea, Managing Director, Hankook Tyre UK, said, “Independent third-party testing is a valuable endorsement of our engineering standards, confirming that our products provide the quality, performance and long-term reliability expected in real-world conditions.”
Mitas Named Main Sponsor Of World Ploughing Championship 2026
- By TT News
- July 13, 2026
Mitas has confirmed its role as the Main Sponsor for the 71st World Ploughing Championship, scheduled to take place from 3 to 6 September 2026 in Osijek-Baranja County, Croatia. This engagement follows the brand’s notable participation in the 2025 edition held in the Czech Republic, reinforcing its dedication to premier agricultural events that honour farming heritage.
Organised under the World Ploughing Organisation, the competition will draw participants and agricultural professionals from over 30 nations. The event serves as a global stage for ploughing proficiency, embodying precision and land stewardship – principles that resonate with Mitas’ ongoing mission to support the farming community worldwide. The company will leverage its sponsorship to secure a visible event presence, facilitating direct interaction with farmers, dealers and industry partners at its dedicated stand.
Attendees can explore the company’s latest agricultural tyre innovations, including the GRANTERRA series for high-horsepower tractors and the AGRITERRA ULTRA for transport applications. Additionally, Mitas will back the Croatian national ploughing team, aiding local competitors in their home-country challenge against elite international ploughmen and women.
Roberta D'Agnano, Global Brand Director Mitas at Yokohama TWS, said "Ploughing is one of the oldest agricultural skills, yet it remains a powerful symbol of everything that makes farming extraordinary: precision, experience and dedication to the land. That is why the World Ploughing Championship feels so close to the Mitas spirit. It brings together people who share a genuine passion for agriculture and a constant drive to do things better. We are proud to return as Main Sponsor, supporting these passionate teams and showcasing solutions that help farmers tackle today's challenges with confidence."
TyreSafe And Sheffield City Council Join Forces On Tyre Safety Initiative
- By TT News
- July 13, 2026
TyreSafe, UK’s charity dedicated to raising tyre safety awareness, has forged a new alliance with Sheffield City Council aimed at elevating tyre safety awareness among the city's motorists. This initiative specifically targets Sheffield’s substantial student demographic and its numerous newly qualified drivers, recognising their particular vulnerability on the roads.
Sheffield's urban transport network accommodates over 1.7 billion vehicle miles annually, predominantly through short, daily commutes that exert significant stress on tyres. The city's diverse vehicle fleet includes a notable proportion of older or shared cars, which underscores the critical necessity for regular tyre maintenance. The collaboration will promote straightforward, preventative checks focusing on air pressure, tread depth and overall tyre health.
This partnership will weave tyre safety education into various local road safety campaigns, aiding the Council's broader objectives to diminish casualties on city roads. By instilling good vehicle maintenance habits early, especially among learners and students, the programme aims to foster lifelong safety practices. This concerted effort supports the Council's ongoing mission to reduce the number of individuals killed or seriously injured on Sheffield's thoroughfares.
Stuart Lovatt, Chair of TyreSafe, said, “In a city like Sheffield, where traffic density is high and journeys are frequent, making sure tyres are properly maintained is essential. By partnering with Sheffield City Council, we can reinforce these vital safety messages and encourage road users to make tyre checks part of their regular routine.”
Cllr Alexi Dimond, Chair of the Transport, Regeneration and Climate Policy Committee at Sheffield City Council, said, “Tyre safety is a fundamental part of road safety, but it’s something many road users – particularly those newer to driving and riding – don’t always remember to check. I’m pleased to announce this new partnership with TyreSafe, which will help ensure that practical tyre safety advice reaches road users at all stages. This scheme will give them the knowledge and confidence to keep vehicles safe and roadworthy in all weather conditions. Tyre safety can help reduce collisions and contribute to Vision Zero: our ambition to have no fatalities on Sheffield’s roads.”
Atturo Tires Secures Exclusive Sponsorship With Mecum Auctions For 2026–27 Season
- By TT News
- July 13, 2026
Atturo Tires has entered into a multiyear agreement to serve as the exclusive tyre brand for Mecum Auctions, the host of the World’s Largest Collector Car Auction. This strategic alliance positions Atturo at the heart of a dedicated automotive community that includes collectors, builders and daily drivers who value performance, style, durability and affordability – principles that have guided the tire manufacturer since its inception in 2009.
As the category-exclusive tyre sponsor for Mecum’s 2026-27 auction calendar, Atturo will benefit from extensive branding and promotional integration. This includes visibility across live events, television broadcasts, digital platforms, print media and social channels, all aimed at increasing brand recognition among consumers who actively seek Atturo products through dealerships.
The auction’s diverse lineup of muscle cars, luxury vehicles and off-road models aligns perfectly with Atturo’s target audience, showcasing Trail Blade and AZ tyres alongside enthusiast favourites. To support its dealer network, Atturo will provide co-brandable materials, event photography and sponsorship talking points via the dealer portal, reinforcing the brand’s national presence and its message of accessible performance.
Michael Mathis, President, Atturo Tires, said, “Mecum's audience is our audience. The people who show up to watch a Challenger cross the block or a built Bronco roll through the lot are the same drivers who trust Atturo on their daily vehicle, their weekend build and everything in between. This partnership puts our Trail Blade and AZ lines directly in front of them – and gives our dealer network another example of how Atturo is becoming the best-known private brand in the country.”
Breeann Poland, Director – Marketing and Communications, Mecum, said, “Mecum Auctions is excited to join forces with Atturo Tires by bringing them on as our official and exclusive tyre partner. Atturo has earned a reputation for delivering high-quality tyres for automotive enthusiasts of every kind, from racers and off-road enthusiasts to the everyday driver and weekend cruiser. That diverse range of customers they serve makes Atturo an excellent choice for our equally wide-ranging Mecum community.”
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