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)

Comments (0)

ADD COMMENT

Link Copied!

Ozzy Tyres has launched a new MONSTA all-terrain tyre, engineered to align with the actual driving patterns of modern Australians. As the nation's utility vehicle market expands, with models like the Ford Ranger dominating sales, a clear trend has emerged: most 4x4 owners primarily use their vehicles on sealed roads for daily commuting and family transport, venturing off-road only occasionally. Founder and Director Hussein Chahine identified this shift, noting a significant market gap for a tyre that delivers the rugged, aggressive aesthetic and off-road assurance drivers desire, but without the traditional compromises.

Conventional all-terrain tyres, optimised for extreme off-road conditions with large tread blocks, often generate excessive road noise, vibration and a harsh, stiff ride on pavement. Ozzy Tyres addressed this by rethinking the design from the ground up. After six months of dedicated research and development, the new MONSTA tyre features a pattern with narrower gaps and smooth, curved tread lines. This design maintains crucial off-road traction and durability while ensuring a quiet and stable on-road performance. Furthermore, engineered sidewalls provide greater compliance than typical all-terrain tyres, enhancing ride comfort and reducing strain on vehicle suspension.

This product underscores MONSTA’s unique position as the only Australian-owned tyre brand in the market, a status that enables a direct, customer-led approach to manufacturing. The company’s vertically integrated model allows it to respond swiftly to local driving trends and feedback, rather than relying on imported products designed for different conditions. Manufacturing has now commenced, beginning with 10 sizes and plans for more as demand grows. The brand’s organic international expansion into markets like Japan and New Zealand continues, but the new MONSTA tyre is distinctly born from an understanding of Australian habits.

Ultimately, the tyre is built for the reality of Australian lifestyles. It provides the confident, aggressive look and sidewall strength that 4x4 drivers want, coupled with the daily comfort of a smooth and quiet ride. Chahine emphasises that by designing and developing their own products, Ozzy Tyres maintains full control over quality and performance, ensuring the tyre resonates with drivers who no longer need to sacrifice on-road comfort for off-road capability.

Comments (0)

ADD COMMENT

Link Copied!

Yokohama Tire Corporation, a subsidiary of The Yokohama Rubber Co., Ltd., has become a supporting sponsor for the new American Off-Road Racing Championship (AORC), which launches in 2026 as North America’s top desert racing series. The company will also equip competitors with its GEOLANDAR brand tyres for SUVs and pickup trucks.

The championship is a collaboration between Unlimited Off-Road Racing and the Best in the Desert Racing Association, consolidating several premier events, including the historic Best in the Desert series and the Mint 400. This five-race points championship will traverse demanding US desert courses, commencing with the Parker 400 in Arizona. As a sponsor, Yokohama Tire Corporation will deliver marketing and motorsport support throughout the series.

The provided tyres will include racing specifications derived from the GEOLANDAR M/T G003 mud-terrain model and overseas-market GEOLANDAR SD off-road racing tyres. Building on the proven track record of GEOLANDAR tyres in events now forming the AORC, TEAM YOKOHAMA is focused on securing series championships.

AORC Schedule

14–18 January: Parker 400 (Arizona)
4–8 March: Mint 400 (Nevada)
22–26 April: Silver State 300 (Nevada)
23–26 July: Vegas to Reno Legends Rally (Nevada) *Not included in AORC series points
13–16 August: Vegas To Reno (Nevada)
15–19 October: Laughlin Desert Classic (Nevada)

Comments (0)

ADD COMMENT

Link Copied!

Emerging as a direct answer to the mining industry's most persistent durability challenge, Triangle Tyre has comprehensively launched its groundbreaking giant OTR tyre bonding protection solution: EnsureX Efficient Technology. This innovation is specifically engineered for the world's most punishing environments, such as the Deo Nai coal mine in Vietnam's Quang Ninh province. There, extreme heat, prolonged humidity and rugged lignite terrain traditionally cause severe tyre ageing and delamination, leading to high failure rates and operational risk.

The core of EnsureX is a material science breakthrough that solves the critical problem of adhesion failure between rubber polymers and steel cords under heavy load and complex conditions. It centres on an ultra-high-performance cobalt-free bonding system paired with a gradient adhesion-layer distribution. This combination delivers transformative performance through three key pillars: exceptional fatigue resistance to handle constant deformation, enhanced ageing resistance that boosts adhesion strength by over 40 percent and long-lasting corrosion protection suited for harsh climates.

Already proven in rigorous field testing, the technology has been applied to 49-inch and 57-inch tyre series with remarkable results. It acts as a resilient mechanical anchor within the tyre's structure, deeply securing each steel cord to create a far more integrated and robust assembly. This engineering advancement reduces delamination failures by more than 95 percent and extends overall tyre service life by over 15 percent, directly addressing the costly cycle of premature scrapping.

The successful deployment of EnsureX Efficient Technology marks a significant leap forward in OTR tyre capability. By providing a stronger, more durable and stable solution, it not only elevates safety and efficiency for mining operations but also solidifies a new standard of performance through independent innovation in high-end tyre manufacturing.

Comments (0)

ADD COMMENT

Link Copied!

Apollo Tyres is preparing to introduce the Vredestein Quatrac Pro 2, a next-generation ultra-high-performance all-season tyre slated for release in the summer of 2026. This product is engineered with a completely new architecture, innovative materials and an advanced directional tread to achieve leading performance standards. It is specifically designed for compatibility with contemporary electric and hybrid vehicles, offering low rolling resistance and minimal noise alongside a reinforced structure to accommodate their greater weight without compromising dynamic response.

This breakthrough tyre is conceived as a versatile, performance-focused option suitable for a broad range of vehicles, including sports cars, high-performance saloons and SUVs, and will be available in a wide selection of sizes. The launch continues the Vredestein brand's longstanding leadership in the all-season category, a segment it has helped define since the 1990s and where it currently offers the most comprehensive product range.

Comments (0)

ADD COMMENT

Link Copied!