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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Sri Trang Group has inaugurated the 2026 edition of its flagship environmental stewardship initiative, ‘One Sri Trang, One Environment’, at the Rubberland Products Co., Ltd. facility in Buriram. The event, which marks the first of its kind for the year, convened representatives from government bodies, local community leadership and industry partners. The primary objective was to offer an in-depth review of the conglomerate’s comprehensive environmental protocols, culminating in a guided tour of the factory’s operational core.

A central feature of the presentation was the facility’s fully enclosed raw material storage building, designed to achieve total containment of natural rubber inputs. This infrastructure serves a dual purpose: it significantly mitigates the release of airborne odours into the surrounding environment while safeguarding raw materials from climatic variations. Furthermore, the enclosed system enhances the overall efficiency of material handling and inventory management. Attendees were able to scrutinise these advanced measures, which extend well beyond the standard practices prevalent in the rubber processing industry.

Presiding over the opening ceremony, Buriram Deputy Governor Kriangsak Somjit commended the Group’s adherence to rigorous operational standards, emphasising that industrial progression must be balanced with ecological conservation throughout the entire value chain. In line with this philosophy, Group executives, led by Plant Manager Chokanan Pantong, curated an exhibition detailing The Green Journey. This display traced the company's environmental strategy from the procurement of cup lump rubber and its secure transportation, through to wastewater treatment, real-time energy monitoring and sustainable by-product management.

The programme also featured a technical demonstration of the E-Nose system, an odour monitoring solution that perpetually gathers and analyses air quality data across various factory zones. This technological application allows the organisation to correlate odour levels with specific production activities, thereby facilitating data-driven interventions to pre-empt and reduce environmental impacts. Sri Trang Group reiterated its dedication to operational transparency and sustainable coexistence, affirming that the initiative is instrumental in fostering symbiotic relationships with local communities and governmental agencies.

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Radical Motorsport is set to debut the Hankook Ventus R54 across its worldwide racing network in January 2027, marking a major evolution in its tyre technology. Designed exclusively for Radical competition, the tyre's nomenclature reflects its bespoke nature, with the 'R' designation standing directly for Radical. This introduction signals a strategic enhancement to the brand's global racing platform.

Engineered for the SR3 and SR10 chassis, the new Ventus R54 delivers superior dry grip, improved degradation resistance and consistent performance over its lifespan while shedding four kilogrammes per set. The tyre succeeds the Ventus C52 following an intensive development and track-testing phase, representing the latest outcome of Radical's ongoing technical partnership with Hankook, a recognised leader in tyre innovation.

The advancements in compound formulation and casing architecture have been achieved without sacrificing the durability and predictability that characterised the previous model. The R54 has been meticulously tailored to the specific dynamics of Radical vehicles and the rigorous conditions of international motorsport, blending Radical's race-bred engineering knowledge with Hankook's extensive proficiency in high-performance tyre design and manufacturing.

The technical alliance between Radical and Hankook, which originated in 2018, has matured into a sustained collaboration that benefits racers across the global competition network. This relationship enables Radical to access external expertise while maintaining a focus on vehicle-specific solutions. As Radical approaches its 30th anniversary in 2027, the company continues to prioritise the evolution of its customer racing experience, free from external regulatory constraints. The Ventus R54 will be accessible to all Radical competitors from January 2027, delivering a tangible competitive advantage.

James Scott, Head of Global Technical and Aftersales, Radical Motorsport, said, “Engineered exclusively for Radical competition, the R54 represents a significant step forward, both in our partnership with Hankook and in our commitment to continually developing what we deliver to Radical racers globally. Designed around the specific demands of our cars and competition, it delivers gains in grip, consistency and degradation throughout the life of the tyre while retaining the durability our racers expect.”

Byongmo Yoon, Motorsports Marketing Manager, Hankook, said, “It is significant for us to support Radical Motorsport with the new Ventus R54, using our dedicated tyre technology to maximise the performance potential of its race cars. We look forward to seeing the technical expertise of both teams come together to deliver an even stronger driving experience on track.”

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Webfleet, the fleet management arm of Bridgestone, is preparing a major product showcase at IAA TRANSPORTATION 2026 in Hannover, scheduled from 15 to 20 September. The company will use the event to introduce two significant offerings, Fleet Insights and Asset Management 360, which are designed to address growing demands for operational efficiency. A media preview is set for 14 September, one day before the main exhibition opens to the public.

The first of these, Fleet Insights, functions as a diagnostic engine that processes raw telemetry into prioritised recommendations. It consolidates performance metrics with sector-specific comparisons, allowing transport operators to gauge their standing against more than 200 anonymised peer profiles. These comparisons factor in variables such as fleet composition, industry sector and geographical operating conditions, offering a nuanced view of relative performance.

Building on technology first introduced in 2025 with the Fleet Advisor conversational tool, this latest analytics module is already active across all markets where Webfleet operates. A subsequent update, expected by late October, will introduce automated suggestion capabilities, enabling the system to propose specific remedial measures and rank them by probable effectiveness. This progression from data access to guided action forms the core of the company's product philosophy.

Asset Management 360, which is being previewed at the Hannover show ahead of its official rollout, takes a different but complementary approach by creating a unified command centre for diverse equipment types. It bridges the gap between powered vehicles and non-powered items such as construction machinery, storage containers and smaller trailers. The accompanying LINK 330 device, a compact battery-operated tracker, will extend real-time location services to assets previously difficult to monitor, thereby reducing search times and administrative overhead.

Visitors to the Bridgestone exhibition space in Hall 12, Booth B63, will also encounter demonstrations of Webfleet's broader ecosystem, which spans predictive maintenance scheduling, driver behaviour coaching, regulatory compliance tracking and integrated transport management systems. A separate presence through the reseller network will be maintained in Hall 25. Executive participation in the conference agenda includes a presentation by Jan-Maarten de Vries on 16 September regarding the transformation of fleet management into an intelligence-led function, followed by a panel discussion featuring Wolfgang Schmid on 17 September concerning artificial intelligence applications within the transport sector.

Running through to 20 September, the exhibition offers a comprehensive look at how the company envisions the future of asset and fleet oversight. By merging analytics with unified asset tracking, Webfleet continues to position itself as a provider of actionable intelligence rather than mere data aggregation, reinforcing its commitment to helping operators move from passive observation to active, informed decision-making.

Jan-Maarten de Vries, President – Fleet Management Solutions, Bridgestone, said, “Transport operators have more data than ever before, but data alone doesn't improve performance. The role of the fleet manager is evolving from monitoring operations to driving operational intelligence. By combining connected vehicle and asset data with advanced analytics and artificial intelligence, we can help our customers identify what to focus on, understand where action is needed and make faster, smarter decisions that improve business performance.”

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Bridgestone India has launched Project PRAVAAH, a new environmental initiative aimed at addressing severe water scarcity and ecological decline in the Dhar district of Madhya Pradesh. The programme, executed in partnership with the Society for Agriculture and Environmental Sustainability, targets the restoration of three traditional water bodies situated within a catchment zone of approximately 140 acres.

The region has historically suffered from critical groundwater depletion, with extraction rates reaching or exceeding the annual recharge capacity. This unsustainable usage has caused water tables to plummet to depths of 10 to 20 metres below ground level, particularly during the dry pre-monsoon period, severely impacting both domestic drinking water supplies and agricultural irrigation.

Moving beyond simple water conservation, Project PRAVAAH employs nature-based solutions and active community engagement to revive local ecosystems. The effort creates new livelihood opportunities for marginalised women and complements Bridgestone’s broader environmental portfolio, which already includes 9.5 acres of biodiversity parks and community gardens designed to promote conservation awareness.

The restoration project is projected to recharge up to 150,000 metric tonnes of groundwater, ensuring more reliable water access for nearby households, livestock and farms. By revitalising ponds as living ecosystems, the initiative aims to foster biodiversity, bolster community resilience against climate variability and reaffirm the company’s dedication to long-term societal and environmental well-being.

Sudhir Kulkarni, Executive Director – HR, Admin & CSR, said, “Care for the environment and the communities that it serves are core to Bridgestone’s philosophy. Project PRAVAAH aims at tackling the acute water shortage faced by communities in Dhar. With Project PRAVAAH, we are turning these ponds back into living ecosystems that will benefit these communities.”

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