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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The Yokohama Rubber Co., Ltd. has announced that Y.T. Rubber Co., Ltd. (YTRC), its Thai subsidiary focused on natural rubber processing, earned the Outstanding Provincial-Level CSR Organization Award. The honour formed part of the ‘CSR Award 2026’ initiative run by Thailand’s Ministry of Social Development and Human Security, and the presentation took place on 22 August 2026.

Built around the idea of ‘CSR Partnerships for Sustainable Thailand’, the award programme highlights organisations demonstrating exemplary corporate social responsibility at provincial or metropolitan level throughout the country’s 76 provinces and Bangkok. A total of 92 recipients – among them YTRC, other firms and bodies chosen nationwide and provincial CSR centres – convened at IMPACT Challenger Hall in Nonthaburi Province to collect commemorative plaques.

Governor Jumpot Wannachatsiri (left) presents flowers to YTRC Managing Director Noboru Takita (centre) and Department Manager Supachai Choosuwan at the Surat Thani Provincial Council.

YTRC, established in Surat Thani Province in 2008, has long pursued environmental preservation and dependable ties with nearby communities. Working with the Rubber Authority of Thailand (RAOT), it surveys natural rubber plantations and supplies management assistance to farmers, supporting sustainable procurement of the material. The company further backs agroforestry practices that give rubber farmers steadier incomes while partnering with the Surat Thani Provincial Office of Social Development and Human Security on efforts to nurture constructive community relations.

The recognition reflects YTRC’s continuous community-oriented CSR work and its notable local impact. A special event on 31 August saw the Surat Thani Provincial Council once more acknowledge those contributions, with the governor presenting a celebratory bouquet. Separately, the CSR Center of Surat Thani Province ranked among only nine centres nationwide to win the Outstanding Provincial CSR Promotion Center Award.

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Hankook Tire has unveiled a new generation of winter tyres for trucks, introducing the Smart Control AW53 for steering axles and the Smart Control DW53 for drive axles. Designed for harsh winter conditions, these models will eventually replace the previous Smart Control AW02 and DW07 winter tyres. They combine high traction on snow and ice with strong cornering and braking performance, along with high mileage. The pair debuts at IAA Transportation 2026 in Hannover, where the company exhibits from 15 to 20 September at stand E09 in hall 11.

Development prioritised strong winter performance across the tyres' full lifespan. Hankook achieves improved winter traction through advanced technology and a blend of tread features. Zigzag grooves and 3D sipes add grip on snow and ice, while tie bars stiffen tread blocks, supporting precise handling and stable driving.

Internal testing at the UTAC Test Centre in Ivalo, Finland, showed the AW53 and DW53 outperforming the earlier AW02 and DW07 models. Braking on snow improved by 2.8 percent, acceleration by 4 percent and handling by 3.7 percent. Central to the design is Hidden Groove technology, in which extra tread grooves emerge as wear progresses, maintaining snow traction and wet grip even when well worn. At 40 percent wear, additional 3D sipes appear, increasing tread block stiffness and improving grip while lowering rolling resistance. At 70 percent wear, further concealed grooves enhance wet grip. Alongside self-regenerating sipes, this sustains winter performance across the service life and extends it by as much as 15 percent.

Stone ejectors in the main grooves and Y-shaped lateral grooves reduce stone retention and shield the tread and carcass from damage. A newly developed compound further contributes to balanced grip. At launch, the AW53 comes in size 385/65 R22.5 164K (158L), rated for 5,000 kg per tyre. The DW53 is offered in size 315/80 R22.5 (156/150L), with a maximum load of 4,000 kg per tyre for single fitments or 3,350 kg for twin fitments. More sizes are planned. All new Smart Control winter tyres carry the 3PMSF label and both can be regrooved and retreaded to extend their working life further.

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Dunlop Motorcycle Europe is set to back teams and riders contending for championship honours at the 2026 FIM Endurance World Championship (EWC) finale, the 89th Bol d’Or, held at Circuit Paul Ricard.

The tyre manufacturer will assist 43 teams in total, serving as exclusive tyre supplier to all 24 Superstock and 13 Production Trophy entrants. Five manufacturers will contest the Production Trophy’s second title, while six privateer squads in the open-tyre Formula EWC class have opted for Dunlop, among them the No. 6 ERC Endurance Team, which recorded a 1:52.173 best lap in Bol d’Or testing.

The season-closing 24-hour race poses a demanding mix of technical corners and fast stretches, notably the 1.8-kilometre Mistral Straight, alongside day-to-night running and traditionally changeable weather that may test both dry and wet KR allocations.

Dunlop will provide its established KR108 and KR109 slicks, plus a latest-generation medium front specification, developed as G2_01 VAL3 and validated with EWC teams in 2025 for improved durability and performance. The range targets single-lap speed and multi-stint longevity, with intermediate and wet tyres available for all conditions.

David Auerbacher, International Motorcycle Race Event Leader, Dunlop Motorcycle Europe, said, “We’re excited to return to Circuit Paul Ricard for the season finale, where both the Superstock and Production Trophy champions will be crowned. It’s been another strong season for Dunlop across all categories, as we celebrate five years as the exclusive tyre supplier to the Superstock Trophy and two years supporting the Production Trophy. Both categories have continued to grow and develop, while leading privateer teams also continue to choose Dunlop as they fight for wins and podiums in the Formula EWC class. We’re looking forward to an exciting season finale and are proud to support all the teams and riders as they battle for championship success at the biggest race of the EWC calendar.”

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The Tyre Recovery Association convened its Briefing Day 2026 at Coombe Abbey Hotel in Warwickshire, drawing more than 100 senior figures from the UK tyre recovery, retreading, retail and manufacturing sectors alongside national regulators, parliamentarians and trade bodies. The event served as a platform to press for meaningful reforms covering tyre recovery, green procurement and domestic circular resilience.

Tessa Munt, the MP for Wells and Mendip Hills, delivered a keynote address that attacked the enduring disconnect between government policy rhetoric and industrial reality. Drawing on her parliamentary work regarding end-of-life tyre exports to India and her engagement with Somerset businesses, she condemned official inaction and set out four priority areas for reform, criticising a reliance on superficial slogans while domestic capacity lies stranded.

The MP highlighted what she described as a double standard, noting that the Environment Agency imposes strict Digital Waste Tracking on compliant domestic operators while granting misplaced goodwill and deadline extensions to non-compliant overseas exporters. Before the rules were diluted, proof-of-arrival compliance stood at just 20 percent. She further noted that more than 150,000 tonnes of licensed UK recycling and remanufacturing capacity remains entirely idle while raw waste is shipped abroad.

Her proposed reforms comprised the immediate statutory withdrawal of T8 exemptions to establish an audited permit regime, adoption of the Australian shred-only export model to end whole and baled tyre exports, instant revocation of export licences for brokers failing to supply timestamped and geotagged proof of delivery and mandatory green public procurement quotas for remanufactured tyres and rubberised asphalt. The RAC Foundation's Steve Gooding also addressed the conference, explaining that a modest 10 percent rubberised asphalt target in public highway contracts would absorb all idle UK crumb capacity, reduce road noise by three to five decibels and produce longer-lasting roads. Strong participation from the Tyre Recovery Association (TRA), the National Tyre Distributors Association (NTDA), the British Tyre Manufacturers' Association (BTMA) and the Imported Tyre Manufacturers Association (ITMA) underscored growing cross-sector unity.

Peter Taylor OBE, Secretary General, TRA, said, "The TRA Briefing Day proves that the British tyre recovery sector is united, highly innovative and ready to grow. Having around 100 key players and all four leading trade associations in one room shows that our industry is speaking with one voice. If the UK’s tyre recovery sector does not grow, it will soon disappear from these shores. We are gradually making progress in getting government to understand this, but there is a long way to go. We have the domestic processing infrastructure, the technical capability and the private capital ready to build a world-class circular economy. What we lack is a regulator and a government willing to back domestic industry by ending illegal whole tyre exports and enforcing green procurement. Tessa Munt MP highlighted this in her powerful speech. We are very grateful to her, Steve Gooding and all those who spoke yesterday, as well as our sponsors Vaculug, Murfitts and KwickFit. These contributions made the event an overwhelming success. The message from industry is clear: the time for policy talk is over, we need to statutory reform."

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