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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The Yokohama Rubber Co., Ltd. has secured its place in three major global ESG stock indexes, marking over two decades of sustained recognition in sustainable investing. The company’s inclusion in the FTSE4Good Index Series now extends to 22 consecutive years, while its presence in the FTSE JPX Blossom Japan Index has reached a 10th year and the Sector Relative Index a 5th year.

Developed and administered by FTSE Russell, a London Stock Exchange Group subsidiary, these benchmarks serve distinct investment purposes. The FTSE4Good Series is widely utilised by international investors as a reference for responsible portfolios. Meanwhile, the two Japan-specific indexes, designed to highlight domestic firms with exemplary ESG performance, have been adopted by the Government Pension Investment Fund to steer its own sustainable asset allocation.

Under the corporate sustainability motto of caring for the future, Yokohama Rubber continues to integrate social problem-solving into core business operations, thereby generating shared value. This longstanding index qualification reflects the firm’s consistent commitment to transparent governance, environmental stewardship and social responsibility, reinforcing its strategic focus on long-term value creation through ethical business conduct.

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Apollo Tyres Ltd has launched the Apollo Altrust Winter van tyre, a new addition to its commercial vehicle lineup engineered to deliver extended durability alongside reliable snow and wet-weather traction. Scheduled for European release in July 2026, this winter variant finalises the Altrust family, which already includes the popular summer and all-season iterations.

Developed entirely within Europe, the tyre achieves a top wet grip classification of ‘A’ and a noise rating of ‘B’ at 72 decibels. Offered in 15 size options across 15- to 17-inch rim diameters, the Altrust Winter is designed to accommodate a broad spectrum of vans and light commercial vehicles, including contemporary models such as the Ford Transit, Mercedes Sprinter and IVECO Daily.

Superior handling on snow, ice and rain-soaked roads stems from several engineering innovations. A multi-pitch tread pattern optimises block sizing and spacing for consistent performance, while three-dimensional sipes enhance road biting capability. Additionally, the centre and shoulder lateral grooves have been strategically configured for swift water dispersal, which bolsters wet grip and lessens aquaplaning risks.

For fleet operators, longevity and reduced wear are critical to lowering total cost of ownership. Apollo’s research division formulated a compound with a balanced polymer-and-filler mix to boost abrasion resistance and curb material degradation. Reinforced shoulder tie-bars preserve a stable contact patch under heavy use, promoting even tread wear and sustaining all-weather effectiveness over the tyre’s lifespan. Noise management was also prioritised, with careful tuning of pitch sequences and shoulder block bridges to minimise acoustic output.

Udyan Ghai, Group Head – Marketing, Apollo Tyres Ltd, said, “Our research and development team in Enschede, The Netherlands, spent over two years exploring the needs of van owners and users, creating a winter van tyre that delivers an optimal balance of performance and value. They focused on those attributes that matter most to fleet operators and van drivers: safety, durability and low operating costs. We know that wet-weather performance is becoming increasingly important for operators across Europe, so we are particularly pleased to see the tyre secure an A rating for wet grip.”

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AI mobile data capture company Anyline has reported that approximately 15 percent of tyres inspected across United States during National Tire Safety Week, observed from 29 June to 5 July 2026, registered tread depths below the critical safety threshold of 3/32 of an inch. The analysis was derived from all professional-grade inspections conducted nationwide using the company’s TireBuddy application during that seven-day period.

Industry observers suggest the actual prevalence of unsafe tyres on American roads may be significantly higher, as motorists who voluntarily participate in inspection events typically exhibit greater safety awareness than the general driving population. This self-selection bias implies that the overall percentage of worn tyres among all vehicles likely exceeds the recorded figure.

The data emerges against a backdrop of approximately 11,000 annual tyre-related traffic incidents documented by the National Highway Traffic Safety Administration, many of which involve tyres that showed no prior visible warning signs. National Tire Safety Week was established as an educational initiative to address this gap, given that gradual tread wear remains one of the most easily preventable contributors to highway accidents yet often goes unnoticed by drivers.

On 2 July 2026, Giti Tire collaborated with Anyline to host a complimentary inspection event at its North American headquarters in Charlotte, North Carolina. Participants received an artificial intelligence-powered tread measurement via the TireBuddy app alongside a pressure check, with both metrics compiled into a single visual report. The U.S. Tire Manufacturers Association advises motorists to conduct such evaluations at least once every two months.

William Estupinan, Vice President – Technical Service, Giti Tire, said, “We believe tyre maintenance education is most effective when it's personal. Providing drivers with a tread scan and air pressure reading for their own tyres brings tyre maintenance messages to life in a way that's meaningful and actionable.”

Christoph Braunsberger, CEO, Anyline, said, “Road safety is built from small, routine decisions and few are overlooked as tyre condition. National Tire Safety Week brings that risk into focus and reminds drivers how much a simple check can reveal. Our role is behind the scenes: giving the technicians who carry out inspections a more accurate, consistent way to measure tread depth. Precision like that is what safer roads are built on.”

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The German Rubber Industry Association (wdk) has released its third-quarter member survey for 2026, indicating a slight easing of anxieties regarding raw material availability. Despite this modest improvement in sentiment, the sector continues to grapple with persistently high costs, with no significant financial respite on the horizon.

wdk Chief Economist Michael Berthel addressed the findings, noting that the acute fears of immediate supply bottlenecks have subsided among member companies. However, he underscored that the overall situation remains highly unpredictable, particularly given the ongoing geopolitical tensions near the Strait of Hormuz, which continue to threaten global trade routes.

While the supply of necessary materials is currently stable, the wdk raw material index for a standard natural rubber compound has surged to its highest point in roughly two years. Berthel pointed out that this disconnect between secure supply and unrelenting price levels leaves firms facing a dual challenge, especially in Germany, where elevated energy costs compound the financial strain of expensive inputs.

The association’s report also reveals a bifurcated business climate, with robust international operations contrasting sharply with weak domestic orders. Berthel characterised the overall recovery as fragile, stressing that without substantial government action to reduce energy levies and bureaucratic hurdles, a genuine upturn for the domestic industry remains elusive.

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