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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Bridgestone has expanded its road safety efforts in Scotland by hosting its inaugural dedicated tyre safety event in the region. The initiative, held at Betty’s Diner off Westfield Road in Motherwell, drew such a strong response from local motorists that additional visits north of the border are already being arranged.

Working alongside Auchinlea Tyres, the company inspected over 100 tyres during the event while offering drivers guidance on tyre safety and the value of routine checks and maintenance. The results underscored the need for such efforts, with 16 percent of tyres requiring urgent attention and a further 24 percent flagged for close monitoring.

To encourage awareness of basic tyre checking practices, ‘Become a Bridgestone Road Safety Hero’ bags were distributed, and the firm’s branded VW Buzz drew considerable interest when parked at the site. Organised by Chris Liddle, Key Account Manager for Consumer and Commercial Products, the event forms part of Bridgestone’s wider Become a Road Safety Hero campaign, which sees colleagues across the UK engaging with motorists to promote essential tyre safety messages.

Recent data reinforces the campaign’s urgency. TyreSafe estimates that 6.1 million tyres on UK roads are illegal or dangerously worn at any given time, often because tread depth falls below the 1.6 mm legal limit. Meanwhile, the Department for Transport’s Reported Road Casualties Great Britain: Final Results 2025 report showed that people killed or seriously injured in collisions involving illegal, defective or underinflated tyres rose from 169 in 2024 to 201 in 2025. For Bridgestone, events like the Scottish check transform safety messaging into practical advice, letting motorists have their tyres inspected while learning simple self-checks.

Liddle said, “This was a really important event for us because it was the first time we have taken our road safety outreach into Scotland in 2026 and the response was fantastic. We inspected 25 vehicles and 100 tyres during the event, giving us a great opportunity to speak directly to motorists about the importance of checking their tyres and making sure they are safe and properly maintained. The feedback we've received since our visit has been extremely positive, and we've already been asked if   we could hold similar events with Auchinlea Tyres. That's a great indication of how successful the day was. We're now looking at the possibility of taking the Road Safety Buzz to different locations across Scotland before the end of the year, working with Scottish dealers to help engage local communities. The Buzz certainly attracted plenty of attention. It's a real head-turner and a great way of starting conversations with people about tyre safety.”

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Maxion Wheels has reaffirmed its dedication to responsible business practices, operational excellence and environmental stewardship by strengthening a resilient and sustainable global supply chain. The company emphasises that collaboration with suppliers sharing its values is vital for delivering long-term value to customers, communities and stakeholders while maintaining high expectations for performance in quality, delivery, sustainability, innovation and ethical conduct. The 2025 Maxion Wheels Supplier Awards recognise exceptional partners whose contributions have advanced the business and reinforced its supply chain worldwide.

Among the honourees, Akzo Nobel Coatings Ltda of Brazil received the Supplier of the Year award for the Americas. A global leader in paints and coatings, AkzoNobel supports Maxion facilities in Brazil and Argentina with liquid and powder coating technologies. In 2025, it earned an ‘A’ rating in the annual Supplier Performance Evaluation for its commitment to quality, innovation, sustainability and supply reliability.

For Asia, JSW Steel Limited of India was named Supplier of the Year. Part of the O.P. Jindal Group, JSW Steel is one of India’s leading steel manufacturers, with an annual production capacity of 35 million tonnes across six plants. As a strategic partner for Maxion India, it supports product development, operational flexibility and business growth. Its senior leadership engagement and strong collaboration helped it meet all environmental, social and governance requirements, securing an ‘A’ rating.

In the EMEA region, FreiLacke, a brand of Emil Frei GmbH & Co KG, received Supplier of the Year honours. The family-owned German coatings specialist, based in the Black Forest, supplies powder and liquid coatings to several Maxion aluminium wheel plants and supports development for both aluminium and steel applications. FreiLacke achieved Supplier Performance Evaluation scores above 97 and met all quality, ESG and governance requirements, earning an ‘A’ rating.

The Green Wheel Award for 2025 went to Akzo Nobel Coatings CZ of the Czech Republic. Based in Opava, the company is part of the AkzoNobel group and serves as a key supplier to Maxion Wheels Ostrava, providing high-quality coating solutions for wheel manufacturing while demonstrating responsible business practices.

Akzo Nobel Coatings CZ was recognised for outstanding sustainability performance, achieving a Supplier Performance Evaluation sustainability score of 24 out of 25 and full compliance with Maxion’s ESG, governance and responsible sourcing requirements. Supported by AkzoNobel’s ambitious sustainability agenda and strong transparency, the company exemplifies leadership in environmental stewardship and sustainable value creation across the supply chain.

Pia Schütz, Vice President – Global Purchasing, Maxion Wheels, said, “At Maxion Wheels, we view our suppliers as strategic partners in our success. Their dedication to quality, innovation, sustainability and operational excellence enables us to better serve our customers and continuously improve our performance. These awards recognise organisations that have distinguished themselves through exceptional collaboration and a shared commitment to creating long-term value.”

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Hankook Tire has renewed its FIA Three-Star Environmental Accreditation, retaining the highest rating awarded under the Fédération Internationale de l’Automobile’s environmental certification framework. The renewal follows a rigorous assessment by FIA Sustainability, with final approval securing the accreditation through July 2028. Hankook first earned the distinction in 2024 while serving as exclusive tyre supplier and official partner of the ABB FIA Formula E World Championship.

The FIA programme evaluates environmental management across motorsports and mobility, covering performance, energy reduction, logistics efficiency, waste optimisation and carbon neutrality initiatives. Hankook’s renewed status confirms that its motorsport environmental systems satisfy FIA standards. The company has also conducted life cycle assessments for Formula E tyres, spanning raw material procurement, manufacturing and transportation, while tracking carbon footprints throughout production.

Beyond racing, Hankook’s Geumsan Plant became Korea’s first tyre facility to obtain ISCC PLUS certification in 2021. The certification has since expanded to plants in Hungary, Daejeon and Jiaxing, China. The company has additionally secured a long-term renewable energy power purchase agreement for its Hungary Plant and installed solar systems for on-site use at Geumsan, Chongqing and Jiaxing.

Hankook plans to keep reviewing and strengthening ESG management and environmental capabilities across its unified global brand. The renewed accreditation reaffirms the company’s commitment to sustainable motorsport operations while advancing broader environmental goals throughout its international manufacturing network.

Willem Groenewald, FIA Secretary General for Automobile Mobility, Sustainability and Tourism, said, “Congratulations to Hankook on renewing its FIA Three-Star Environmental Accreditation. Earning our highest environmental standard once is an achievement; renewing it shows a commitment that runs deep. As a Global Partner of the FIA, Hankook shares our belief that motor sport can drive innovation from the track to the road, and this renewal is a fitting reflection of the partnership we are building together.”

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Pirelli is all set for Formula 1's newest venue, the Madring, which hosts its first Spanish capital Grand Prix next weekend. The tyre supplier has nominated the C2 as Hard, the C3 as Medium and the C4 as Soft for the 5.416-kilometre circuit, which blends a street section threading between exhibition district buildings with a permanent layout and boasts 22 corners, among them the 550-metre Monumental with its 24 percent banking.

Only 200 metres separate the start-finish line from Turn 1, and the opening sector is extremely fast. The middle part of the lap brings several medium and low-speed corners, including the banked Turn 12, while the closing stretch serves up 90-degree turns reminiscent of Baku.

Pirelli's involvement stretches back three years, when circuit designers first shared details of the intended layout. Simulation tools enabled engineers to trace the paths cars would take and compute the forces tyres would face. Once construction concluded, Pirelli personnel travelled to Madrid to gauge the asphalt's macro and micro roughness, sharpening their simulations and preparing a technical document distributed to teams ahead of the event.

In energy terms, the track sits among the five most taxing on the calendar, generating lateral forces on par with Barcelona and Silverstone. The Monumental produces the year's highest vertical load thanks to both its banking and its length, and it also tests grip, with drivers likely to choose differing approaches depending on whether they favour setting up an attack into the next corner.

Because the asphalt is unusually smooth and offers modest grip, it has been cleaned with high-pressure water jets to strip away dust and oily deposits typical of fresh surfaces, a practice already employed at circuits such as Singapore. Elevation also distinguishes the layout: Turn 7 marks the highest point at roughly 700 metres above sea level, reached via an 8 percent gradient and 10-metre climb from Turn 6, while Turn 2 is the lowest, sitting 26 metres below.

With no testing possible before the weekend, teams will only finalise their programmes and tyre strategies after first practice, possibly reserving Hard sets for Sunday if softer rubber degrades sharply. Last year brought ambient highs of 29°C, though the circuit's altitude makes severe heat improbable. Madrid's region previously staged nine Spanish Grands Prix at Jarama from 1968 to 1981, where Mario Andretti won twice and Lotus took four wins. Across 55 Spanish Grands Prix at five venues, Michael Schumacher and Lewis Hamilton each have six victories, while Ferrari leads constructors with 12.

The Pirelli Design podium cap by Denis Dekovic carries a white crown and the seven stars of Ursa Major under the peak and is on sale through Pirelli's e-commerce platform.

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