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)
Michelin Strengthens Rajasthan Footprint With New MTS Store In Bikaner
- By TT News
- June 15, 2026
Michelin has expanded its retail network in Rajasthan by opening a new Michelin Tyres & Services outlet in Bikaner. The facility results from a partnership with Bhagwati Tyres and is situated on Jaipur Road near the Khatu Shyam Temple. This location is intended to improve regional access to the company’s premium tyre products and advanced automotive care.
The 7,000-square-foot establishment functions as a contemporary mobility hub with customer-focused infrastructure. Shoppers can find high-end tyres for passenger cars and two-wheelers, while on-site technicians provide wheel alignment, balancing and nitrogen inflation. The official opening ceremony featured Annu Mehla, the North and East B2C regional sales head, alongside representatives from Bhagwati Tyres.
Bhagwati Motors Nokha Private Limited has operated in Rajasthan since 2006 and possesses more than 20 years of local market experience. The firm has made substantial investments in spacious retail spaces to elevate the tyre buying experience. Through its collaboration with Michelin, the enterprise seeks to offer tyre solutions that emphasise safety, longevity and strong performance, thereby aiding the region’s automotive sector.
Shantanu Deshpande, Managing Director, Michelin India, said, “As mobility aspirations continue to evolve across India, we are seeing growing demand for premium products and high-quality automotive services beyond traditional metropolitan markets. Bikaner represents an important growth market for Michelin in Rajasthan, driven by increasing vehicle ownership and a rising appreciation for performance and safety. This expansion is aligned with our plans to introduce Made-in-India passenger car tyres, reinforcing our commitment to delivering globally benchmarked products tailored for Indian consumers.”
LAUGFS Rubber Chief Secures Key National Role To Boost Sri Lanka’s Tyre Exports
- By TT News
- June 15, 2026
LAUGFS Corporation (Rubber) Ltd, a prominent Sri Lankan manufacturer and exporter of high-quality industrial solid tyres, has announced the recent appointment of its Managing Director and Chief Executive Officer, Chinthaka Wegapitiya, as Sectoral Head for Rubber Tyres and Accessories. This prestigious designation was conferred by the National Chamber of Exporters of Sri Lanka.
The appointment underscores Wegapitiya’s leadership and dedication to advancing the nation’s export capabilities. In his new capacity, he is expected to tackle sector-specific challenges, promote collaborative efforts and drive strategic initiatives aimed at boosting the global competitiveness of Sri Lanka’s rubber tyre export industry. The company expressed confidence in his ability to excel in this important national role while anticipating continued progress for the sector.
Apollo Tyres Turns Spotlight On Women in Blue’s Untold Journeys In New Campaign
- By TT News
- June 15, 2026
Apollo Tyres, the Lead Sponsor of the Indian National Cricket Teams, has launched a new campaign extending its ‘Har Safar Mein Dum Hai’ ethos to spotlight the Women in Blue. The initiative shifts focus from celebrated victories to the lesser‑seen, demanding journeys of female cricketers before they gained national recognition.
A newly released cinematic film captures the solitary and challenging paths of Harmanpreet, Smriti, Jemima, Shafali and Renuka, set to an original soundtrack. It highlights formative struggles such as a young Shafali cutting her hair to join boys’ academies, Harmanpreet defying deep‑rooted conventions, Smriti drawing inspiration from her brother, Jemimah practicing with boys and Renuka enduring long commutes to training.
The digital‑first campaign will be amplified across YouTube and Meta, supported by localised digital out‑of‑home, influencer collaborations and interactive social media activations. The rollout targets cricket enthusiasts through a comprehensive distribution strategy across high‑impact digital touchpoints.
Neeraj Kanwar, Vice Chairman and MD, Apollo Tyres Ltd, said, “‘Har Safar Mein Dum Hai’ has always been about celebrating the journey alongside the destination. As we carry this philosophy forward, with immense pride we share the untold stories of our Women in Blue. Their journeys, filled with courage and conviction, are a source of inspiration for the entire country. This campaign is a tribute to their unwavering spirit and our commitment to championing the values of perseverance and excellence, reflecting the same passion and respect we hold for all of Indian cricket.”
Simran Kanwar said, “Our vision was to create a film that felt distinct and deeply personal to the experiences of Harmanpreet, Smriti, Jemima, Shafali and Renuka. While it stems from the same ‘Har Safar Mein Dum Hai’ ethos, the storytelling is uniquely tailored to reflect their individual struggles and triumphs. Through intimate storytelling and an emotionally driven soundtrack, we wanted audiences to connect with the heart behind women's cricket in India, powerfully reminding millions of young women across the nation that their journeys matter.”
Udyan Ghai, Group Head, Marketing, Apollo Tyres Ltd, said, “This is not about replicating a formula; this campaign is a heartfelt extension of our core belief. The cultural momentum behind women’s cricket is undeniable, and we wanted to honour that by ensuring our storytelling was authentic and deeply connected to their unique experiences. With this chapter of ‘Har Safar Mein Dum Hai’, we are engaging audiences with stories of resilience that resonate universally, reinforcing that every journey to the top deserves to be celebrated with equal passion.”
Pirelli To Deploy Full Tyre Range For Austrian And British Grand Prix Races
- By TT News
- June 13, 2026
Pirelli will deploy its full range of tyre compounds across the upcoming Austrian and British Grand Prix races. For the Red Bull Ring event in Spielberg, teams gain access to the three softest mixtures in the range, designated C3, C4 and C5. The Silverstone race, however, sees a return to the hardest trio of C1, C2 and C3 compounds.
The Austrian circuit features the fewest corners and shortest lap time on the Formula One calendar, with heavy braking and acceleration zones. These characteristics generate predominantly thermal degradation in the tyres, while lateral loads on the axles remain low. Despite the track’s old and highly abrasive surface, pure tyre wear is not considered a decisive factor.
Silverstone adopts the Sprint weekend format this year and ranks among the longest circuits, dominated by high-speed corners that produce extreme lateral forces comparable to Suzuka and Spa-Francorchamps. Consequently, the front axle endures the highest stress, with the left-front tyre wearing more quickly due to the abundance of right-hand turns.
Pirelli serves as the title sponsor for the British Grand Prix weekend, a distinction it also holds for the Italian Grand Prix. This association links the manufacturer’s name with two of the most frequently held historic events in the Formula One World Championship.
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