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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Continental is showcasing ‘The Sound of Premium’, an immersive installation, at Milan Design Week 2026 held at BASE Milano from 20 to 26 April. The experience translates the brand’s advanced tire engineering into a multisensory journey, redefining how urban mobility sounds. Key technologies on display included Continental’s noise-reducing ContiSilent and Urban Silent Technology, which actively lower rolling noise through sound-absorbing materials inside the tire and tread patterns optimised for city speeds.

Cities are dense with movement and noise, where even invisible elements like tyres shape the acoustic environment. Continental’s technologies reduce road noise at its source, enhancing both driving stability and interior comfort. The installation invites visitors to reconsider urban sound not as a nuisance to be eliminated but as an element that can be precisely engineered and controlled.

The exhibition unfolds in three distinct phases: chaos, harmony and quiet. Layered city sounds first create tension and disorientation, then gradually dissolve as rhythm and balance emerge. The journey ends in a state of calm defined not by silence alone but by acoustic precision. A tyre displayed as a design object underscores how engineering can improve urban well‑being.

An interactive installation of 25 touch points allows visitors to shape their own sound environment in real time, activating different acoustic layers through touch. Each participant creates a personal composition reflecting their rhythm and sensitivity. The resulting experience can be recorded and shared via QR code, extending the dialogue between technology and individual expression beyond the exhibition space.

As electric vehicles become more widespread, rolling noise has grown into a dominant source of urban traffic sound. Continental meets this challenge by applying its expertise at the tyre‑road interface, developing measurable reductions in interior noise. Through ‘The Sound of Premium’, the company positions silence not as emptiness but as a performance feature.

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Nokian Tyres plc has introduced a new long-term share-based incentive plan for management and key employees, as the company seeks to align executive rewards with shareholder returns.

The board of directors said the Performance Share Plan (PSP) would cover the company’s management and selected key personnel, with the aim of supporting shareholder value creation and reinforcing commitment to strategic objectives.

The plan, titled PSP 2026–2030, comprises three separate plan periods, each with a three-year performance cycle followed by the payment of potential share rewards. The start of each period will be determined by the board, and any rewards will be paid in company shares.

The first phase, PSP 2026–2028, will assess performance against three criteria: relative total shareholder return, weighted at 50 per cent; average return on capital employed (ROCE), at 40 per cent; and a 10 per cent weighting for reduction in Scope 1 and 2 carbon emissions intensity.

Subject to meeting these targets, rewards will be delivered by the end of April 2029.

The maximum number of shares that may be distributed under PSP 2026–2028 is 1,258,000, representing the gross value of the rewards before applicable taxes are deducted.

Approximately 100 participants are included in the first plan period, including the president and chief executive and members of the group management team.

Under the plan’s terms, participants who leave the company before rewards are paid will generally forfeit their entitlement.

The president and chief executive, together with other senior executives, must retain 25 per cent of the shares received until their personal shareholding equals their gross annual salary from the preceding year.

The board said no new shares are expected to be issued under the plan, meaning it is not anticipated to dilute the company’s existing share base.

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The Global Platform for Sustainable Natural Rubber (GPSNR) has launched a three-year collaboration with the Berlin-based social enterprise Elucid to provide healthcare access for 1,800 rubber farming households in Côte d’Ivoire. The initiative, funded through GPSNR’s Shared Investment Mechanism, will benefit approximately 9,000 individuals. Financial backing comes from 13 major tyre and rubber manufacturers, including Aeolus Tyre, Apollo Tyres, BKT, Goodyear, Hankook, Kumho Tire, Maxxis International, Nokian Tyres, Prometeon Tyre Group, Sumitomo Riko, Sumitomo Rubber Industries, Toyo Tire and Yokohama Rubber. The programme directly confronts a long‑ignored reality within the natural rubber sector: the link between farmer health and supply chain stability.

Côte d’Ivoire ranks 187th out of 195 nations for quality of care, with only 32 percent of essential medicines available publicly. Although two‑thirds of the population are enrolled in national health insurance on paper, fewer than four percent used their card in 2025. Medical emergencies cost the country an estimated 853 million US dollars in cocoa exports in 2017 alone, and with many farmers growing both cocoa and rubber, the implications for the rubber sector are substantial.

The partnership integrates four measures: enrolling families into national insurance, providing an emergency care package covering WHO‑accredited medications, upgrading 15 local health facilities and running community awareness programmes. Elucid’s digital platform will track data in real time. The project aims to increase healthcare visits from under 200 to over 1,800, push insurance enrolment from below 30 percent to above 90 percent and prevent more than 150 catastrophic health expenditure events annually. Half of beneficiaries will be women, and 20 percent children.

Photo credit: Elucid

Farmer enrolment begins in August 2026, with improvements continuing until January 2029. Without reliable healthcare, medical emergencies force farmers to sell assets and abandon farm improvements, creating direct risks for supply chains. The programme seeks to reverse that dynamic, targeting long‑term sustainability by building cooperative capacity to maintain health support for members.

Stefano Savi, CEO, GPSNR, said, “We talk constantly about improving yields and farm management practices, but we’ve missed something fundamental. A farmer who can’t afford to see a doctor when they’re sick or who cannot go to the farm because their child is unwell can’t be productive. Healthcare isn’t separate from supply chain resilience. It’s central to it.”

Sambhavna Biswas, Partnerships Manager, Elucid, said, “This is about demonstrating what’s possible when the private sector invests in making national health systems work for farmers. This model can be replicated across rubber-growing regions and adapted to other agricultural sectors. Everyone in the value chain benefits when the people at its foundation are healthy and economically secure.”

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CEAT Limited has incorporated a step-down subsidiary in Germany, marking an extension of its overseas corporate structure.

The BSE-listed tyre maker said it had received a certificate of registration on 20^th April  for the incorporation of CEAT GmbH, a wholly owned step-down subsidiary set up with a capital of €25,000.

The subsidiary is held entirely through a wholly owned arm of CEAT Limited, giving the parent company indirect 100 percent ownership.

The company stated that CEAT GmbH would operate in the automotive tyres and related products segment, including tubes, tracks, flaps and ancillary activities.

As the entity has been newly incorporated, no turnover figures are available.

CEAT said the subsidiary qualifies as a related party, although promoters and group companies have no direct interest in it beyond its status as a step-down subsidiary.

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