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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Tana Oy, a Finnish environmental technology company specialising in manufacturing mobile solid waste shredders, screens and landfill compactors, is expanding its customer support in Norway. The company has entered into a partnership with Vest Assistanse, designating them as a new aftermarket service provider.

This collaboration ensures that TANA machine operators across the country will have access to reliable and efficient maintenance and technical support. Vest Assistanse brings a strong local presence and a team of experienced service professionals, positioning them to deliver swift response times and high-quality field service. Their expertise is aimed at helping customers maintain optimal machine performance and maximise operational uptime.

This strategic appointment reflects Tana’s sustained commitment to the Norwegian market. By strengthening its local service network, the company is enhancing its ability to provide comprehensive after-sales care, ultimately reinforcing its dedication to superior customer service and operational efficiency throughout the region.

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Falken has entered the 2026 summer season with notable achievements in independent tyre evaluations, securing strong ratings for three distinct models. The high-performance AZENIS FK520, versatile ZIEX ZE320 and electric vehicle-focused e.ZIEX each demonstrated their capabilities in assessments conducted by leading automotive clubs and specialist media.

The ultra-high-performance AZENIS FK520 earned high praise in the sportauto summer tyre test, receiving an overall Very Good rating. With a total score of 8.6 out of 10 across all categories, it positions itself among top contenders in its class. The tyre achieved perfect 10 out of 10 points for exceptionally short braking distances on both wet and dry surfaces. Its handling, lateral grip and comfort also received commendable scores. The publication distinguished it as best value for money, highlighting its blend of performance and affordability.

In the Automobile Club of Germany (AvD) test, the Falken ZIEX ZE320 secured a Very Good rating and finished fifth among 15 competitors in the 215/55 R17 size. It delivered outstanding wet performance, earning high marks between 4.4 and 4.6 out of 5 for aquaplaning resistance, cornering stability and braking. The tyre maintained consistent dry performance and was noted for low noise levels. In the Greenovation category, it received a Good rating for efficient rolling resistance and low weight.

The e.ZIEX achieved a Good overall rating in the auto motor und sport summer test. With 7.2 out of 10 points in wet conditions and 8.4 on dry roads, it demonstrated balanced and secure performance. Exceptional ride comfort and very low interior noise, both scoring a perfect 10 out of 10, were particular highlights. Testers described it as an efficiency recommendation for electric vehicles, praising its quiet, predictable handling.

These test results demonstrate Falken's technical expertise and product evolution, reinforcing the brand's commitment to quality as the summer season approaches.

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Kumho Tire USA has confirmed its return as a sponsor of the home plate signage programme for the 2026 Major League Baseball season, appearing in six stadiums nationwide. This marks the brand’s second consecutive year participating in the initiative, which aims to strengthen visibility among consumers, clients and retail partners.

The selection of ballparks was based on strategic market analysis, prioritising regions with strong growth potential for brand recognition. By securing rotational digital signage directly behind home plate, the company ensures consistent exposure to both live audiences and televised broadcasts, enhancing its presence in high-impact settings.

Kumho Tire will feature its brand at the following stadiums:

• Angel's Stadium: Anaheim, Calif.
• Busch Stadium: St. Louis, Miss.
• Chase Field: Phoenix, Ariz.
• Citizens Bank Park: Philadelphia, Penn.
• Comerica Park: Detroit, Mich.
• Great American Ball Park: Cincinnati, Ohio

These locations enable deeper collaboration with local dealer networks and increase the company’s footprint in areas vital to its long-term goals. Through this targeted investment, Kumho Tire reinforces its commitment to community engagement while advancing broader objectives in key US markets.

Ed Cho, CEO, Kumho Tire USA, said, “We are thrilled to continue our significant presence in America's favourite pastime, leveraging rotational stadium signage in six key markets with high growth potential. This initiative not only elevates Kumho Tire's visibility and strengthens our position as a premium brand alternative but also creates valuable opportunities for our dealer partners to capitalise on increased local recognition.”

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Hankook Tire reinforced its brand presence on the global stage as the Semifinals of TGL presented by SoFi Season 2 took place on 17 March 2026 at the SoFi Center in Florida. Serving as the inaugural Official Tyre Partner and a Founding Partner of the league, the company leveraged this platform to highlight its premium identity. By embedding advanced technological solutions within the sports entertainment sector, Hankook aligned itself with the principle of ‘Technological Innovation’ promoted by Hankook & Company Group Chairman Hyunbum Cho. This strategy effectively communicated a progressive and contemporary brand image to audiences spanning 150 countries.

The competition unfolded as a high-intensity doubleheader featuring the regular season's top four teams. In the opening matchup, the No. 2 seed, Los Angeles Golf Club, faced Atlanta Drive GC, the tournament’s 2025 champion and No. 3 seed. Although Atlanta initially held an advantage, Los Angeles secured a 6-4 victory to advance. After trailing 4-3 at the conclusion of the Triples session, Los Angeles mounted a comeback in Singles by claiming three consecutive points. A pivotal moment came when Justin Rose levelled the score on the 10th hole before taking the lead with a birdie on the fourteenth, ending Atlanta's pursuit of consecutive titles.

The second semifinal featured the regular-season leader, Boston Common Golf, against Jupiter Links GC. This contest attracted widespread attention due to the participation of golf stars Rory McIlroy and Tiger Woods in a high-stakes playoff atmosphere. Jupiter Links emerged victorious with a 9-5 win after a competitive Triples session. In Singles, Max Homa secured decisive victories over McIlroy in both of their encounters, propelling his team into the Final Series for the first time.

Both winning teams are set to compete in the Finals, a best-of-three series scheduled for 23 and 24 March 2026 at the same venue. As the season approaches its conclusion, Hankook Tire continues to connect with international audiences through elite sporting events. The company sustains a diverse global sports marketing strategy, encompassing partnerships with the UEFA Europa League, UEFA Conference League, Borussia Dortmund and Al Ittihad. Additionally, its role as an official partner in premier motorsport series like Formula E and the World Rally Championship underscores its commitment to demonstrating technological leadership.

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