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!

Apollo Tyres has earned five major industry honours at the JioStar Reimagine Awards 2025–26 and the Abby Awards 2026, recognising the strength of its recent advertising efforts. The company secured three Gold trophies at the JioStar Reimagine Awards for Best Use of Sports Talent, Best Content Integration – TV and Best Use of Multi-Screen Campaigns. It also captured two Bronze awards at the Abby Awards within the Audio Visual – TV category for both the Automotive and Corporate segments.

The acclaimed ‘Har Safar Mein Dum Hai’ campaign, rooted in Apollo Tyres’ ‘Go the Distance’ philosophy, transformed a traditionally low-interest product category into an emotionally compelling narrative. Instead of relying on standard celebrity endorsements, the campaign celebrated perseverance over mere victory and used cricket as a shared cultural connector to build authentic audience bonds.

Leveraging A R Rahman’s enduring anthem ‘Maa Tujhe Salaam’, the campaign was conceptualised by Simran Kanwar and became the fourth most discussed brand during the recent T20 World Cup. It outperformed competitors with triple the advertising spend, earning top honours across content, sports integration, film craft and multi-platform categories through sharp insight and distinctive execution.

Udyan Ghai, Group Head, Marketing, Apollo Tyres Ltd, said, “To see our campaign being celebrated by the industry at the JioStar and Abby Awards is an immensely proud moment for all of us. Winning for 'Har Safar Mein Dum Hai' is a beautiful tribute to our team’s hard work in creating stories that truly move people. It proves that our focus on emotional storytelling, strategic sports associations and multi-platform integration is exactly what resonates with today's audience.”

Comments (0)

ADD COMMENT

Link Copied!

Hankook Tire, the exclusive tyre supplier for the FIA World Rally Championship (WRC), has concluded the seventh round of the 2026 season, FORUM8 Rally Japan. Held across the Aichi and Gifu regions, the competition saw Hankook provide its two specialised tarmac rally tyres: the Ventus Z215 for dry surfaces and the Ventus Z210 for damp conditions.

The rally consisted of 20 special stages covering 302.82 kilometres of challenging mountain asphalt. The route featured steep roads lined with cliffs, barriers and dense woodland, offering little room for error and demanding constant driver concentration. Due to the narrow layout with virtually no straight sections, maintaining stable line-holding and precise vehicle control became essential to avoid damage or retirement.

Fluctuating weather conditions, including mountain fog, localised rain and shifting surface temperatures, kept the road surface in constant change. In this environment, tyre performance proved critical, with the Ventus Z215 delivering strong cornering on dry highspeed sections and the Ventus Z210 providing drainage and reliable grip on damp stretches. The event drew intense local interest as the home round for Toyota GAZOO Racing, where Elfyn Evans claimed overall victory, his second win of the season. Evans now leads the Drivers’ Championship with 151 points, followed by teammate Takamoto Katsuta on 131.

The championship now moves to Round 8, the EKO Acropolis Rally Greece, scheduled for 25 to 28 June in Loutraki. Known for its extreme mountain terrain and rough gravel surfaces with temperatures exceeding 40 degrees Celsius, the event will test tyre durability and thermal stability. Since becoming the exclusive WRC tyre supplier for all classes in 2025, Hankook has integrated racing data from over 70 global championships into its research and development to advance its high-performance lineup.

Comments (0)

ADD COMMENT

Link Copied!

Comerio Ercole has concluded its participation at INDEX, the premier international nonwovens exhibition in Geneva. The event served as a vital platform to connect with global customers and industry professionals, reinforcing the company’s strong market foothold. Throughout the exhibition, the company showcased cutting-edge technologies and innovative solutions, drawing excellent feedback. The fair facilitated valuable idea exchanges, strengthened longstanding relationships and fostered new international ties, proving an inspiring experience for the entire team.

Parallel to industry engagements, Comerio Ercole is bolstering employee wellbeing through the WHP Lombardia programme. Since 2019, the company has joined this regional initiative following the World Health Organization model. Increasingly investing in environmental, social and governance initiatives, the company has introduced measures to improve health and safety. These efforts have earned renewed recognition as a health-promoting workplace, with programmes including healthy nutrition, physical activity groups, anti-smoking campaigns and sustainable mobility.

Separately, Comerio Ercole recently hosted Istituto Fermi students for an educational visit. The group toured production workshops, observing machinery construction firsthand. A particularly appreciated segment introduced virtual reality systems for training and machine support, where immersive simulations using Oculus headsets demonstrated how new technologies enhance learning and remote maintenance.

The meeting also covered the company’s history and sustainability efforts. For Comerio Ercole, such initiatives build connections with younger generations and inspire future professionals by sharing a passion for engineering excellence. The company extended thanks to the students and teachers for their enthusiasm.

Comments (0)

ADD COMMENT

Link Copied!

The Tire Industry Association (TIA) has recognised Michelin North America for a USD 5,000 donation made to the Tire Industry Scholarship programme. The scholarship initiative is administered in partnership with the University of the Aftermarket Foundation and aims to support students pursuing higher education while strengthening the future workforce of the tire and automotive service industries.

Michelin’s contribution places it alongside a growing roster of industry donors, including Bridgestone Americas, Hankook Tire, Kumho Tire, Nitto Tire, Toyo Tire, VIP Tire, Yokohama Tire Corporation and the Tire Industry Association itself. Established with the University of the Aftermarket Foundation, the Tire Industry Scholarship programme provides financial assistance to students and directly addresses workforce development needs within the tyre sector.

TIA continues to encourage companies throughout the tyre industry to support the scholarship fund, helping to expand educational opportunities for future students and secure a skilled talent pipeline for years to come.

Dick Gust, CEO, TIA, said, "We are grateful to Michelin for supporting the Tire Industry Scholarship programme and investing in the future of our industry. Scholarships like these help create opportunities for students while demonstrating our industry's commitment to developing the next generation of leaders, technicians and professionals. The success of this programme depends on industry participation. Every contribution helps us invest in the future of our workforce and create opportunities for students who may one day become the leaders of our industry."

Comments (0)

ADD COMMENT

Link Copied!