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)

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MAXAM Tire has further expanded its off‑the‑road tyre portfolio by adding a new 45/65R45 size to the MS406 E4/L4 series. This larger variant is specifically engineered for heavy loader applications, offering operators an additional high‑performance solution that prioritises strength, longevity and cost efficiency over the long term.

The tyre’s deep E4/L4 tread pattern is designed to deliver strong traction while resisting wear and cuts, even in severe working conditions. This aggressive yet durable design helps loader fleets boost productivity, as the tyre maintains grip and reduces downtime. Over its service life, users can expect a lower cost per operating hour.

To withstand harsh job sites, the MS406 incorporates a thick undertread that provides enhanced puncture protection. Its robust casing not only endures heavy use but also supports excellent retreadability, further extending the tyre’s usable life and improving overall return on investment. A wide, flat footprint contributes to superior stability, ensuring dependable performance and operator confidence when the vehicle is under substantial loads.

With this new size addition, MAXAM Tire continues to strengthen its off‑the‑road product line, giving customers another valuable option that balances durability, traction and long‑term operating efficiency in demanding loader environments.

Jimmy McDonnell, Vice President – Sales and Marketing, MAXAM Tire North America, said, “With the addition of the 45/54R45 size, we’re continuing to respond directly to market needs while expanding access to a proven loader tyre. Our focus is always on delivering market-leading value and tyres that perform in real-world conditions while helping customers control operating costs.”

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Hankook Tire, the exclusive tyre supplier for the FIA World Rally Championship, will face the demanding Croatia Rally from 9 to 12 April 2026. This event marks round four of the season and takes place in and around the port city of Rijeka. Among the most gruelling rallies on the calendar, it will feature both the Ventus Z215, engineered for precise dry handling and cornering stability, and the Ventus Z210, designed to deliver superior traction and rapid water evacuation in wet and unpredictable conditions.

The 2026 route spans roughly 300.28 kilometres across 20 special stages, with the service park relocated to the historic Grobnik Circuit. The course covers four counties, including shakedown stages on the island of Krk and technical tests through the Lika-Senj highlands. Drivers must contend with extreme grip variations along the Adriatic coast, from abrasive volcanic tarmac in the mountains to smoother, dustier sections near the sea, the latter becoming dangerously slick with even light rain.

Throughout the event, Hankook will operate its Brand World marketing booth inside the service park, reinforcing its unified global premium image. The booth will offer interactive experiences such as a motorsports history zone, racing simulator, tyre fitting activities, merchandise sales and a photo zone, giving fans an immersive brand encounter. Meanwhile, intense competition is expected: while Toyota GAZOO Racing has a strong history in Croatia, both Hyundai Shell Mobis World Rally Team and M-Sport Ford World Rally Team aim to exploit the new coastal terrain to challenge for the podium.

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Sri Trang Agro-Industry Public Company Limited has earned a total of 23 CSR-DIW awards, demonstrating its longstanding commitment to operating with ongoing responsibility towards society, local communities and the environment. In 2025, the Department of Industrial Works honoured the company under the CSR DIW to MIND for Sustainability programme, which recognises industrial factories that enhance their social and community responsibility for sustainable coexistence.

Among these accolades, five facilities received the CSR DIW Award for maintaining these high standards continuously for a decade, while another 18 facilities received the CSR DIW Continuous Award for consistently implementing responsible practices, collectively celebrating industrial organisations that serve as models for industry growing in harmony with communities under the principle of good industry coexisting sustainably.

These achievements reflect how the Sri Trang Group balances economic, social and environmental priorities, allowing the industrial sector to work alongside communities effectively and advancing Thailand’s rubber industry towards a sustainable green future. The group has steadily carried out community focused and socially responsible initiatives across six key areas, including youth development, arts and local traditions, livelihood and career support, environmental management, workplace health and hygiene as well as disaster relief and assistance for vulnerable groups.

This recognition further underscores Sri Trang Agro Industry’s role as a leading organisation that drives sustainable industrial practices while consistently creating lasting value for society, communities and the environment.

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Bridgestone has announced its participation in the 41st Space Symposium, the largest space conference in United States, taking place in Colorado Springs from 13 to 16 April 2026. The company’s exhibit will be hosted within the Japanese Space Industry pavilion organised by Japan Aerospace Exploration Agency (JAXA), marking its third consecutive year at the event since 2024. A key focus of Bridgestone’s presence is its ongoing development of lunar rover tyres, a project that embodies the company’s belief that ‘tyres carry life’.

Since 2019, Bridgestone has advanced research on lunar rover tyres and pursued co-creation with international partners to commercialise space mobility technology. In 2024, the company collaborated with Astrobotic Technology, followed by a basic agreement with ispace in 2025. These efforts aim to generate new value in the rapidly evolving space mobility sector.

At the symposium, Bridgestone will demonstrate tyres for small and medium lunar rovers, first unveiled in 2025, by mounting them on a mobility vehicle. Attendees can see and touch the tyres, experiencing their high traversability on simulated lunar challenges like fine sand and rocky ground. Through this showcase, Bridgestone seeks to expand its space business network and foster co-creation opportunities, ultimately supporting safe lunar mobility and humanity’s exploration goals.

The lunar rover tyre project applies Bridgestone’s AirFree technology, an exploratory business under its 2024–2026 Mid Term Business Plan. By refining this technology in the extreme lunar environment, the company aims to eventually bring those innovations back to Earth, enhancing conventional tyres and contributing to broader social value.

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