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)
ANRPC Hosts Malaysian Rubber Delegation
- By TT News
- January 31, 2026
The Association of Natural Rubber Producing Countries (ANRPC) recently hosted a high-level delegation from the Rubber Development Division of the Ministry of Plantation and Commodities Malaysia at the ANRPC Secretariat. Led by Peter Dennis of Malaysia’s Rubber Development Division, the group met with ANRPC Secretary-General Dr Suttipong Angthong and his team.
The discussions centred on essential industry issues, particularly the vital importance of achieving stable rubber prices for the benefit of producers and the broader market. Conversations further delved into analysing recent market trends and their consequences for global production and trade dynamics.
This engagement highlighted the ongoing necessity for cooperative action to address sectoral challenges, advance sustainability and ensure resilient growth in the face of variable economic conditions.
Bridgestone Unveils Next-Gen Blizzak IcePeak Tyre With Dual Ice And Snow Certifications
- By TT News
- January 31, 2026
Bridgestone Americas has unveiled its latest flagship winter tyre, the Blizzak IcePeak, which will launch nationwide in May 2026. This new tyre is distinguished as the first from Bridgestone to achieve both the rigorous 3-Peak Mountain Snowflake and Ice Grip certifications, marking a significant advancement in winter performance. Designed to cater to a broad range of vehicles – including sedans, minivans, CUVs, SUVs and trucks – the IcePeak will replace the Blizzak WS90 and DM-V2 models. It will be available in 107 sizes, ultimately covering approximately 97 percent of the US light-duty vehicle market, with the majority of sizes ready at launch.
The tyre’s development centres on delivering superior winter traction alongside improved durability and efficiency, leveraging the company’s ENLITEN technology. This integration aims to lower rolling resistance for better fuel economy and extend tyre wear life, offering long-term cost savings for drivers. Internal testing indicates the IcePeak surpasses the wear life of its predecessors while maintaining effective traction. Its compatibility extends to conventional, hybrid and electric vehicles, emphasising its modern engineering.
Key to its performance is a suite of specialised technologies. Bridgestone’s patented MultiCell compound is engineered to enhance stopping power on ice, a claim validated by the official Ice Grip certification. This certification requires performance on ice to exceed a standard reference tyre by at least 18 percent in braking tests. For snow traction, the tyre employs optimised tread blocks and full-depth 3D sipes to create additional biting edges, helping vehicles gain grip and reduce spin.
Building upon the Blizzak lineage, which spans nearly four decades of innovation, the IcePeak introduces refined design elements. Its optimised compound is formulated for added durability across multiple winter seasons without sacrificing grip. A newly unified global tread pattern incorporates several critical features: strategically placed sipes are angled to maximise the gripping edge, protrusions on tread blocks prevent water intrusion on ice and micro-grooves help clear the thin water film that forms on icy surfaces. Together, these features aim to provide drivers with reliable control in wet, snowy and icy conditions, advancing the brand’s reputation for winter safety and performance.
Ian McKenney, Senior Product Manager, Bridgestone Americas, said, “Our Blizzak tyre lineup moves from strength to strength, continually raising the standard for impressive winter weather control. With the application of ENLITEN technology, we are able to expand the tyres’ performance envelope in all directions while also delivering greater durability and reduced rolling resistance, while promoting a focus on enhanced sustainability.”
Citira Rolls Out Nationwide 24/7 Tyre Breakdown Service For Swedish Fleets
- By TT News
- January 31, 2026
Citira, a circular tyre management provider, is introducing a nationwide emergency tyre service in Sweden for commercial fleets, a strategic move to become a comprehensive tyre management partner. Named Citira 24/7 Däckjour, it provides a dedicated contact point for heavy vehicle operators needing immediate assistance, day or night.
This service connects customers to an established, quality-assured network of professional tyre workshops across the country. By utilising pre-assembled replacement wheels ready for immediate deployment, the system ensures rapid on-site repairs to maximise vehicle uptime and minimise operational disruptions.
Clients also benefit from predictable, agreed-upon pricing and consolidated billing, which simplifies administration and enhances budget control. This integrated offering is designed to streamline daily operations, reduce downtime and deliver a more seamless support experience for truck and bus companies.
Göran Bengtsson, Head of Sales at Citira Sweden, said, “This is an important milestone for us to be to able offer our Swedish heavy vehicle fleet customers. This has been frequently requested to us, and we are happy to be able meet the demand, providing a new level of reliability and convenience for our customers.”
Michelin Unveils X-Ice Snow+ Tyre For Unpredictable Winters
- By TT News
- January 30, 2026
Michelin has unveiled the X-Ice Snow+ tyre, a premier winter product designed to meet the heightened demands of modern, unpredictable winter weather. This new offering provides increased performance and durability over its predecessor, specifically engineered to tackle severe seasonal challenges. Its advanced FLEX-ICE 3.0 tread compound optimises braking performance across a spectrum of conditions, including ice, snow and both wet and dry roads, ensuring reliable control during freezing rain or on treacherous black ice.
The tyre's proven tread design delivers superior start-up traction in deep snow compared to three leading competitors and offers strong lateral grip for stability on slick, icy corners. Beyond immediate safety, the X-Ice Snow+ is built for long-term value and efficiency. It achieves an extended tread life, lasting more than 26 percent longer than key rival tyres. Furthermore, through a specialised low-energy-loss compound that minimises rolling resistance, it delivers up to 34 percent better efficiency, which supports fuel savings and extends electric vehicle range without sacrificing winter traction. Passenger comfort is enhanced by proprietary Piano Acoustic Tuning Technology, a system engineered to reduce road noise for a quieter ride.
Available for dealer order starting in May 2026 for the winter selling season, the Michelin X-Ice Snow+ tyre will be produced in 15- to 23-inch sizes to accommodate a broad range of vehicles, including sedans, CUVs, SUVs, pickups and both hybrid and electric models.
Omer Waysman, Vice President – B2C Marketing, Michelin North America, Inc, said, “For more than 130 years, Michelin has continued to push the boundaries of innovation by improving our technologies to meet the needs of mobility across the globe. With the new Michelin X-Ice Snow+ tyre, we have taken everything drivers loved about the previous generation tyre and improved key areas. This new tyre delivers excellent winter performance, longer-lasting durability and greater efficiency, giving drivers a dependable advantage when the weather is at its worst.”
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