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)
Hankook, Schmitz Cargobull Seal Multi-Year Trailer Tyre Supply Agreement
- By TT News
- September 16, 2026
Hankook Tire has secured a multi-year original equipment agreement with Schmitz Cargobull, Europe’s foremost trailer manufacturer. The arrangement commenced on 1 July 2026 and will continue through June 2030, marking Hankook’s re-entry into the European commercial vehicle tyre original equipment market.
Under the deal, Schmitz Cargobull will fit Hankook trailer tyres ex-works on a portion of its newly built semi-trailers and trailers. The tyre range encompasses the Smart Line series for long-distance haulage, Smart Flex for regional and local distribution and Smart Work for off-road construction applications.
(From left): Andreas Schmitz, CEO, Schmitz Cargobull AG, and Jongho Park, President and COO, Hankook Tire Europe
The agreement also extends to the used-trailer segment. Schmitz Cargobull produces curtainsiders, dry freight containers, refrigerated semi-trailers, container chassis and tippers across three German plants plus facilities in Great Britain, Spain, Lithuania, Romania and Turkey.
Jongho Park, President and COO, Hankook Tire Europe, said, “The development of the European logistics market opens up new potential for close partnerships in the commercial vehicle tyre segment, which is increasingly important to us from a strategic perspective. As an industry leader, Schmitz Cargobull has particularly high standards in terms of quality, performance, efficiency and sustainability. We are proud that our tyres meet all these criteria and are delighted about the strategic partnership.”
Andreas Schmitz, CEO, Schmitz Cargobull, said, “With Hankook, we are gaining a capable partner whose high-quality tyres are the perfect complement to our portfolio. In addition to the product qualities, reliability of supply for our European production sites was an important consideration. The agreement will enable us to offer the right tyre solutions for different applications, whether long-distance transport, regional transport or use on construction sites, while also taking into consideration our customers’ requirements for cost-effectiveness and operational reliability.”
Pirelli Brings Back E1089 Development Front Tyre For Red Bull Ring Round
- By TT News
- September 16, 2026
Pirelli will bring the E1089 soft-compound development front tyre to Moto2 riders for the Austrian Grand Prix next weekend. The tyre, which debuted at Aragón and drew positive feedback, shares the SC1's structure but uses a different compound. At the Red Bull Ring, with its many braking zones and heavy decelerations, the E1089 could deliver greater stability, especially under braking. The range SC1 completes the front allocation, allowing riders to compare both options directly.
For the rear, Pirelli is confirming last year's allocation, offering the SCX supersoft. In 2024, as the E0126 development specification, it won both qualifying and the race. The range SC0 soft serves as the alternative, also present at the Red Bull Ring last year as a development solution and potentially useful if temperatures drop.
In Moto3, both axles will have the SC1 soft and SC2 medium compounds. In 2025, Argentina's Valentin Perrone (KTM) took Saturday's pole and Sunday's victory using the SC2 front and SC1 rear, the latter unanimously selected by the entire grid, while the two front options were chosen equally.
The Red Bull Ring is atypical, just over four kilometres long with only 11 corners, eight right and three left. Its layout demands braking stability, strong corner entry and good traction out of slow corners. The asphalt generally offers low grip with limited wear, and weather could matter greatly, as this year's race falls in early autumn rather than mid-August, meaning potentially lower temperatures.
Giorgio Barbier, Pirelli Motorcycle Racing Director, said, “The Austrian Grand Prix represents a further opportunity to continue the development work on Moto2™ front tyres, which began in Aragón and continued at Misano. On a track that differs significantly from MotorLand Aragón, with severe braking, strong acceleration and few high-speed corners, we will once again make the E1089 soft front specification available. This will allow us to broaden its evaluation and continue the comparison with the range SC1. The objective is to gather further data and feedback that will be useful for the development of this solution.
“At the rear, we are confirming last year’s allocation with the SCX, which also originated as a development tyre. Introduced in 2025 as the E0126 specification and subsequently added to the range, it is now the category benchmark. If weather conditions are favourable, it will be interesting to assess the performance gains compared with last season, both over a flying lap and across race distance. In the event of lower temperatures, riders will also have the range SC0 soft at their disposal, which was introduced at the Red Bull Ring in 2025 as the E0125 development solution. The Austrian event will also be particularly relevant looking ahead. On the Monday following the race, the Spielberg circuit will host a private test session dedicated to the tyres that will be used by the premier class next season, providing an important opportunity to continue data collection and development work ahead of Pirelli’s debut as the World Championship single tyre supplier.”
Vittoria Expands RideArmor Range With New 700×42c Size
- By TT News
- September 16, 2026
Italian bicycle tyre manufacturer Vittoria has expanded its RideArmor tyre lineup with a new 700×42c size, enhancing the versatility of its most durable and puncture-resistant road tyre. The addition addresses the evolving demands of modern endurance and gravel race bikes, which now feature greater tyre clearance and more compliant geometries. The larger volume improves vibration absorption, grip, stability and confidence while also delivering aerodynamic benefits on bikes designed for wider rubber.
The RideArmor’s construction centres on reliability for commuters, trainers, bikepackers and all-road riders. Its ArmorSkin sidewall layer shields against cuts and abrasions on rough surfaces, while a Kevlar bead-to-bead belt provides comprehensive puncture resistance across the entire tread. A Graphene + Silica compound and 100 TPI nylon casing further ensure high mileage, and a slick tread design keeps rolling resistance low for efficient riding.
All sizes are compatible with tubeless-ready and inner-tube setups and are e-bike ready. The tyre serves everyday cyclists needing dependable puncture protection, year-round trainers prioritising consistency over weight, bikepackers carrying gear far from home and gravel riders navigating mixed surfaces. The new 42 mm size joins the Corsa PRO Control in Vittoria’s wider road range, with both offered in 38 and 42 mm.
RideArmor remains Vittoria’s most resistant option, focused on durability, puncture protection and high mileage rather than racing performance. Available from 26 mm to 42 mm, it provides a reliable solution for daily road training, commuting, long-distance bikepacking and light-gravel adventures, offering complete peace of mind across diverse riding conditions.
Nokian Tyres Hakkapeliitta 01 Now Available For Sale To Consumers
- By TT News
- September 16, 2026
Nokian Tyres has announced that its Hakkapeliitta 01 studded winter tyre is now available for purchase at tyre shops worldwide, roughly six months after unveiling the product. The Hakkapeliitta 01 represents a significant step forward in the brand’s rich history, introducing On-Demand Grip technology that allows studs to enter ‘OFF’ and ‘ON’ modes in response to driving conditions.
The Hakkapeliitta 01 was introduced in March at Nokian Tyres' Ivalo Test Center, situated north of the Arctic Circle in Finland. Dealer pre-sales for the tyre outperformed the company's expectations, a result highlighted in Nokian Tyres' half-year financial report. Designed for passenger cars, crossovers and sport utility vehicles, the new tyre is aimed primarily at the Nordic markets of Finland, Sweden and Norway, alongside United States, Canada and Japan.
The commercial launch coincides with the 90th anniversary of the Hakkapeliitta product family. Nokian Tyres has tested tyres at its Ivalo facility, one of the world's largest company-owned proving grounds and located about 235 kilometres north of the Arctic Circle, since 1986. Throughout the winter season, the company is sharing information and content across its sales markets and globally to build awareness of the new tyre. Consumers in the Nordics, North America and Central Europe can purchase Hakkapeliitta models, including the Hakkapeliitta 01, at tyre shops this fall.
Paolo Pompei, President and CEO, Nokian Tyres, said, “We are very pleased about the development of the Nokian Tyres Hakkapeliitta 01, which delivered good pre-sales in recent months. Its ability to adapt to changing winter conditions makes it popular with tyre dealers and an excellent choice for consumers who face challenging winter weather.”
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