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)
Kumho Tire USA Signs Long-Term Agreement To Support Georgia’s 680,000 Veterans
- By TT News
- May 25, 2026
Kumho Tire USA has formalised a new long-term partnership with the Georgia Department of Veterans Service and the Georgia Veterans Service Foundation through the signing of a Memorandum of Understanding. The agreement aims to serve approximately 680,000 veterans and their families across the state, uniting private industry, state government and a nonprofit organisation under a shared commitment to supporting those who have served in the military.
Under the newly established collaboration, Kumho Tire USA and the Georgia Veterans Service Foundation will work together to identify and deliver programmes designed to create meaningful impact for Georgia’s veteran community. While specific initiatives have yet to be announced, they will be revealed as the partnership continues to develop. The alliance reflects a sustained, active approach to veteran support rather than one-time gestures.
The partnership first drew public attention earlier this year during Kumho Tire Night at State Farm Arena, where Georgia Veterans Service Foundation representatives were honoured as Co-Captains before an Atlanta Hawks game against the Boston Celtics. That moment, occurring ahead of the NBA matchup, symbolised the mutual respect and recognition now codified in the formal agreement.
Edmund Cho, CEO, Kumho Tire USA, Inc, said, "At Kumho Tire USA, we believe that doing business in America means giving back to America. We are honoured to stand alongside the GVSF in this commitment, and we look forward to building something lasting together for Georgia's veterans."
Dr Patricia Ross, Ed.D. (Col, USAF Ret.), Commissioner, Georgia Department of Veterans Service, said, "Georgia's veterans have earned our unwavering support, and partnerships like this one are exactly how we deliver on that promise. We are proud to welcome Kumho Tire USA as a committed partner alongside GVSF, and we look forward to the meaningful work ahead for the veterans and families we serve across this state."
Joe Higgins, Board Chair, Georgia Veterans Service Foundation, said, "The Georgia Veterans Service Foundation exists to connect Georgia's veteran community with the resources and support they deserve, and that work is always stronger when the private sector steps forward as a true partner. We are grateful for Kumho Tire USA's commitment and excited about what this three-way collaboration will make possible."
Sun Auto Tire & Service Expands Midwest Presence With Virden Acquisition
- By TT News
- May 23, 2026
Sun Auto Tire & Service has expanded its Midwest footprint by acquiring the Main Street Tire & Auto location in Virden, Illinois. The transaction took effect immediately, and the newly acquired store will become part of the Sun Auto Network before rebranding under the Plaza Tire Service name.
Plaza Tire Service, a Midwest institution known as the ‘Quick Change Artist’ for more than six decades, will see its Illinois presence strengthened through this addition. The move broadens regional service coverage by integrating a trusted community shop with the extensive resources of a national network. Customers at the Virden location will continue to benefit from familiar local relationships while gaining access to enhanced operational support, advanced technology and customer-focused tools.
The Virden site offers a full range of automotive care, including major tyre brands backed by Sun Auto’s price match guarantee, alignments, brake service, oil changes, batteries, diagnostics and preventative maintenance. This acquisition marks the 16th Plaza Tire Service location in Illinois and supports Sun Auto’s ongoing expansion across key Midwest markets.
Rob Kingery, Regional Vice President, Operations, said "Virden represents an important opportunity to continue growing the Plaza Tire Service brand in Illinois. This location allows us to expand our reach while reinforcing the operational strength and consistency our network is known for."
Pirelli Design And Santini Cycling Unveil 2026 Sport Club Collection
- By TT News
- May 23, 2026
Pirelli Design and cycling apparel leader Santini Cycling have unveiled the Santini x Pirelli Sport Club 2026 collection, an evolution of their partnership launched in 2024. Inspired by the Pirelli Sport Club, founded in Milan in 1922 to encourage employee physical activity, the line celebrates Italian craftsmanship, performance and style.
The 2026 collection expands with fresh garments and graphic updates. Among the technical highlights is the new Fast jersey, engineered for maximum aerodynamics with ultralight fabrics and a second-skin fit. Returning Ruota and Tape models receive refined detailing, while the Pirelli SC jersey now features an all-over logo pattern in black and a new chocolate colourway.
All jerseys have a unisex fit and pair with Pirelli SC bib shorts with a C3 chamois for long-distance comfort. A heritage wool jersey features an embroidered Pirelli logo, mother-of-pearl buttons and a metal zipper. The new road skinsuit maximizes aerodynamic efficiency with breathable upper fabrics, woven striped sleeves and high-density lower section for muscular support.
Technical pieces include baselayers, a packable wind jacket and vest, plus socks, caps and bottles. A lifestyle line offers T-shirts, sweatshirts and casual garments with premium materials and distinctive graphics. The collection unites sporting passion, industrial heritage and design excellence, offering cyclists a cohesive wardrobe for both competition and daily life.
TyreSafe Formalises Partnership With On Air Media Group To Amplify Tyre Safety Messaging
- By TT News
- May 23, 2026
TyreSafe has formalised a new media partnership with On Air Media Group, marking a strategic push to expand its road safety messaging through high-impact radio broadcasting. The arrangement cements a previously informal working relationship that had already produced several nationwide campaigns, including a 2025 effort conducted alongside the Diabetes Safety Organisation focused on diabetic drivers and the recent ‘Under Pressure’ initiative for Tyre Safety Month.
Under the deal, On Air Media Group’s production strength and wide broadcast reach will amplify TyreSafe’s technical knowledge, ensuring that critical warnings about tyre maintenance reach national and local radio listeners. The collaboration specifically targets private motorists, motorcycle riders and commercial fleets, promoting straightforward preventive measures.
Looking ahead, the partners plan to roll out interviews, live segments and campaign-linked features across UK. Future work will also support fleet operators, address seasonal safety concerns and launch regional projects tied to TyreSafe’s yearly schedule of awareness events.
Stuart Lovatt, TyreSafe Chair, said, “We’re delighted to formalise our partnership with On Air Media Group. Their creativity and professionalism have been instrumental in helping us deliver the tyre safety message to millions of listeners across the UK. Radio remains one of the most powerful ways to reach drivers where it matters most – while they’re on the move – and On Air’s ability to make safety messaging engaging and relatable has been invaluable. Together, we’re ensuring more people hear, understand and act on the importance of tyre safety.”
Will Luscombe, Creative Director, On Air Media Group, said, “We’re proud to partner with TyreSafe and support their vital work in promoting road safety. Our team is passionate about using the power of broadcast storytelling to drive meaningful change, and working with TyreSafe has shown how creative, well-targeted radio campaigns can make a real difference. This partnership is about amplifying awareness, inspiring behaviour change and ultimately helping to save lives on UK roads.”
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