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)
TyreSafe Kicks Off Tyre Safety Month With Stark 'Stopping Distance' Warning
- By TT News
- October 02, 2026
TyreSafe, UK’s leading tyre safety charity, has launched its annual Tyre Safety Month by cautioning UK motorists that confidence in their vehicles’ stopping ability may be misplaced. Research indicates that although 83 percent of drivers feel fully in control of stopping distances, merely 6 percent know the additional distance required to halt in wet conditions at motorway speeds.
The study reveals that 94 percent of drivers underestimate how sharply stopping distances grow in rain, with many erring by substantial margins. This mismatch between perceived and actual risk spans every UK region, pointing to a nationwide problem involving driver awareness and vehicle preparedness.
In response, TyreSafe advises routine tyre checks, especially before seasonal shifts and heavier rainfall. Motorists are urged to remember the ACT principle – air pressure, condition and tread depth – and to act before they react.
Stuart Lovatt, Chairman, TyreSafe, said, “Many drivers and riders believe they are in control – but that confidence is often misplaced. Stopping distances in wet conditions can be far greater than expected, and tyres play a critical role in that equation. If your tyres are not properly maintained, your ability to stop safely is significantly reduced – no matter how confident you feel behind the wheel.”
Enviro Secures Second Extension For Ongoing company Reorganisation
- By TT News
- October 02, 2026
Scandinavian Enviro Systems AB (publ) has secured a second extension of its company reorganisation, with the Gothenburg District Court approving a further three-month period lasting until 27 November 2026. The company has been under reorganisation since 27 February 2026, when the court initially granted the process. An earlier extension had already pushed the deadline to 27 August 2026 before this latest decision.
In its ruling, the District Court noted that Enviro has submitted a draft reconstruction plan and secured the necessary financing for it. The court also found that the company has taken other required measures, leading it to conclude that exceptional grounds exist to justify continuing the reorganisation beyond the ordinary timeframe.
Enviro now plans to ask the court to order plan negotiations and schedule a plan hearing as soon as possible. At that hearing, affected parties will be placed into groups and permitted to vote on whether to adopt the reorganisation plan. Details of the hearing date and participation instructions will be announced via press release and the company's website. Unless plan negotiations are ordered earlier, a reorganisation may last at most one year, or 15 months from the initial decision in such cases.
Fredrik Aaben, CEO, Enviro, said, "The District Court's decision gives us the opportunity to continue the intensive work of completing the company reorganisation. We have taken several important steps forward and are now working purposefully to establish a strong and long-term sustainable Scandinavian Enviro Systems. The strong interest in Enviro's technology persists, both with regard to licensing and other forms of collaboration. We are firmly committed to completing the reorganisation and building a strong industrial company based on our world-leading technology.”
Continental Expands Gen 5 Regional Haul Lineup With New Steer And Drive Tyres
- By TT News
- October 02, 2026
Continental has launched the Conti HSR 5 EP steer tyre and Conti HDR 5 EP drive tyre, expanding its Generation 5 regional haul lineup. Engineered for regional fleet operations, both products target greater mileage, better fuel economy and longer casing life, aiming to lower fleets’ total cost of ownership.
The tyres suit routes marked by frequent stops and starts, urban and suburban travel and changing road surfaces. Their advanced tread patterns and latest compound technology seek a balance among wear performance, rolling resistance and retreadability while supporting year-round operation.
For the steer position, the Conti HSR 5 EP uses a new five-rib tread pattern and optimised footprint to improve wear and promote even treadwear. With Continental’s Generation 5 compound, it offers an estimated 22 percent mileage gain over its predecessor while keeping rolling resistance low for fuel efficiency.
The Conti HDR 5 EP drive tyre combines an open shoulder design, enhanced stone-trapping resistance and better cut-and-chip protection to preserve casing integrity and retread potential. It delivers an estimated 19 percent removal mileage improvement over its predecessor while maintaining fuel-saving rolling resistance. Both tyres are available from October 2026 in key regional haul sizes, with more sizes planned during 2027.
Shaun Uys, Vice President Marketing and Sales, Truck Tires US, said, "Regional fleets continue to face mounting pressure to improve operating efficiency while controlling costs. The new Conti HSR 5 EP and Conti HDR 5 EP were developed to help fleets go farther on every tyre investment through increased removal mileage, lower fuel consumption and enhanced casing life."
DUNLOP Group Strengthens Sustainability Governance With New Committees
- By TT News
- October 02, 2026
The DUNLOP Group is restructuring its sustainability management to more closely align business strategies with sustainability initiatives, aiming to achieve sustainable corporate value growth. As part of this effort, each business division will establish a Divisional Sustainability Promotion Committee under the umbrella of the existing Sustainability Promotion Committee, which oversees company-wide efforts. This change is intended to accelerate the integration of business strategies and sustainability measures.
The newly formed divisional committees will discuss and decide on sustainability policies designed to create business opportunities and drive growth within their respective divisions. They will also monitor progress towards division-specific targets under the Long-Term Sustainability Targets, known as ‘Driving Our Future Initiatives’, and share relevant information. Progress updates will be reported to the Sustainability Promotion Committee, strengthening company-wide monitoring.
Chart of sustainability management structure
In addition, a cross-divisional Sustainable Natural Rubber (SNR) Subcommittee will be launched to manage and reduce risks and create opportunities in the natural rubber supply chain. Natural rubber is a natural capital resource on which the Group’s business significantly depends and also has significant impacts. The subcommittee will address these issues from natural capital and human rights perspectives, based on the Sustainable Natural Rubber Policy.
The SNR Subcommittee will serve as a cross-functional body that concentrates and accelerates the Group’s various SNR activities. By aligning with biodiversity and human rights initiatives and taking a mid- to long-term approach, it will pursue sustainable natural rubber through efforts such as supporting natural rubber farmers and collaborating with external partners.
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