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 German Rubber Industry Association (wdk) has urged policymakers in Berlin and Brussels to give the rubber sector a more prominent role in industrial, security and raw materials strategy. Speaking at the association's autumn conference in Frankfurt am Main before roughly 200 company representatives, wdk President Michael Klein argued that rubber serves not only mobility but also security and defence.

Elastomer products such as seals, hoses, membranes and vibration dampers are essential to the operation of modern industrial plants as well as military vehicles, aircraft and logistics infrastructure. Though frequently overlooked, their failure can cripple entire technical systems. Klein therefore called for the rubber industry to be included in security and defence planning at an early stage, particularly regarding the safeguarding of production capacity, raw material supplies and technological know-how. He described industrial resilience as an integral part of national resilience, warning that capabilities not maintained in peacetime cannot be restored quickly during a crisis.

The wdk identifies raw material supply as a pressing concern, contending that Germany and Europe need an independent rubber raw materials strategy covering both civilian and military crisis preparedness. Such a strategy would entail long-term, diversified supplier relationships, strategic reserves of critical raw materials and intermediate goods and the preservation of European processing and blending capacity.

Klein also renewed calls for a sustained improvement in industrial location conditions, citing competitive energy prices, faster permitting, meaningful reductions in bureaucracy and dependable investment frameworks as prerequisites for retaining industrial value creation in Germany. He stressed that economic growth stems from trust rather than regulation.

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The Goodyear Tire & Rubber Company closes its FIA World Endurance Championship campaign this weekend as the 6 Hours of Monza returns, marking the final race for the current Goodyear Racing Eagle LMGT3 tyre specification. Although the Milan-area circuit has appeared on the WEC calendar before, this is its debut in the LMGT3 era, and the November scheduling should deliver markedly cooler conditions than the series encountered during its July 2023 visit to the circuit known as ‘The Temple of Speed’.

Designed for swift warmup, the Goodyear Racing Eagle Medium compound should give professional and amateur drivers alike the assurance to push hard immediately upon leaving the pit lane despite lower temperatures. The layout's long straights and tight chicanes echo Le Mans, and Goodyear engineers have leaned on prior experience at Spa-Francorchamps and Silverstone to ready for the colder weather. Every LMGT3 team will have a designated Goodyear track support engineer on hand to advise on setup and race strategy across the weekend.

Single-stint tyre strategies are expected to be popular, mirroring last month's 6 Hours of Barcelona. If rain falls, the wide transition window of both the slick and wet tyres could open up intriguing strategic options on a drying surface. Beyond closing the third LMGT3 season in WEC, the weekend marks the last appearance of the current Racing Eagle slick and wet tyres; from next season, LMGT3 cars in WEC and the European Le Mans Series will race on new-specification tyres containing 66 percent sustainable material.

Across the Atlantic, Goodyear Racing Eagles will also be in action this weekend in the NASCAR Championship Races at Homestead-Miami Speedway. In addition, the NHRA Mission Foods Drag Racing Series wraps up next weekend at Pomona Dragstrip.

Stephen Bickley, Goodyear Endurance Program Manager, said, “Monza presents an interesting challenge to round out a competitive WEC season, particularly with the cooler conditions we expect at this time of year. Getting tyres up to temperature quickly will be important, but the fast warmup characteristics of our Goodyear Racing Eagle Medium should give drivers the confidence they need from the start of each stint. This weekend is a significant milestone for Goodyear as we conclude three seasons with our current LMGT3 tyre specification. After last month’s 6 Hours of Barcelona, teams have started testing our new tyres, which we’re looking forward to seeing in racing action next year.”

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Kuraray America, Inc. is commemorating 10 years of production at its Bayport facility, a milestone shaped by a workforce assembled from widely differing backgrounds. Since operations commenced in 2016, the site has drawn staff from the oil and gas sector, from other Kuraray America locations and from Kuraray Group operations in Singapore and Japan as expatriates. That blend of experience and perspective formed the groundwork on which the site was built.

Across its first decade, Bayport has delivered enduring value to the company and its customers, powered by employees who gave their time, passed on expertise, assisted colleagues and helped steer the site towards success. The occasion gains further meaning from its proximity to the Kuraray Group's 100th anniversary in June 2026.

Kuraray America thanked the employees and customers whose backing sustained Bayport through its opening decade and will remain crucial going forward. Jacqueline Unzueta received special mention for leading the anniversary event's coordination, while Hans Vandommele, Charles Neal, Nelson Rodriguez, Takehiro Kanno and Frank Taylor were also recognised in connection with the celebration. The company affirmed its commitment to carrying forward the teamwork, expertise and shared purpose that have characterised Bayport's first 10 years.

Reflecting on the site's growth and his own professional journey, Raymond Myska, Plant Manager at Kuraray America's Bayport site, said, "My own journey at Bayport began in 2017. I joined as Maintenance Manager, and in 2025, I had the privilege of stepping into the role of Plant Manager. Although I wasn't here when the doors first opened, I've had the opportunity to grow alongside this team, witness how far we've come and contribute to the success stories we're celebrating today."

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TyreSafe, UK’s leading tyre safety charity, has joined forces with Dudley Council Trading Standards for an enforcement operation targeting part-worn tyre retailers, with support from West Midlands Police. Unannounced audits followed earlier advisory visits during which traders had already received guidance on statutory obligations. Nonetheless, every business inspected failed to meet basic safety and legal standards, producing a 100 percent non-compliance rate.

The inspections exposed a range of serious breaches, including dangerous illegal string repairs, punctures in sidewall and shoulder areas that cannot be repaired, absent or temporary ‘PART-WORN’ markings, improper pressure testing, aged and hardened rubber and tread depth below the legal minimum. Under the Motor Vehicle Tyres (Safety) Regulations 1994, such tyres must be thoroughly inflation-tested before sale, have at least 2.0 mm of tread, be structurally sound and carry a permanent uppercase ‘PART-WORN’ stamp.

Each trader subsequently received an individual Trader Notice summarising visit findings, identifying specific concerns, acknowledging compliance where found and offering practical guidance on meeting legal duties. TyreSafe and Dudley Trading Standards now intend to use the case study to urge other UK local authorities to prioritise joint enforcement against part-worn tyre retailers and remove illegal stock from the consumer market.

Laura Reuben, Public Protection Manager, Dudley Council, said, “The findings of this operation are deeply concerning. Consumers purchasing part-worn tyres often assume they are buying a safe, legal alternative to pass an MOT or save money, but our joint checks show a widespread disregard for basic safety laws. Educational visits alone have proven insufficient, and we will not hesitate to use our formal enforcement powers to protect motorists from dangerous stock.”

Stuart Lovatt, Chairman, TyreSafe, said, “This operation with Dudley Trading Standards exposes a stark reality: 100 percent non-compliance among the retailers audited, even after receiving compliance advice. Dangerous tyres on the road pose an immediate threat to driver and pedestrian safety. We urge local authorities across the UK to follow Dudley’s lead and integrate targeted, unannounced part-worn checks into their enforcement schedules.”

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