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 reiterated its dedication to developing the natural rubber sector while protecting the environment and assisting nearby communities. The company recently held the second edition of its 2026 ‘One Sri Trang, One Environment’ initiative at Rubberland Products Company Limited's Mukdahan Branch. Worayan Bunnarat, Governor of Mukdahan, headed a delegation of senior provincial officials from the Provincial Industry, Labour and Public Health Offices. Community leaders and partner networks also participated to learn about the factory's responsible management approach.

Welcoming the delegation were Chalermpop Khanjan, Executive Director of Sri Trang Agro-Industry Public Company Limited, and Mustopa Longsaman, Factory Manager of the Mukdahan branch. A symbolic tree-watering ceremony opened proceedings, underscoring a collective commitment to environmental stewardship. Attendees then explored an exhibition displaying natural rubber innovations spanning the supply chain, from traceability systems to programmes enhancing local quality of life. A standout initiative converts discarded plastic bottles into eco-friendly brooms, creating income for residents. The exhibition also recognised collaborative efforts, backed by provincial authorities, that enabled the branch's TO BE NUMBER ONE Club to attain national distinction as a ‘Silver-Level Model Workplace, Year 1’.

Visitors witnessed production processes directly, with particular attention to odour prevention and control at the source. Measures include a fully enclosed raw material storage building, ozone-based air treatment and a biofilter system for reducing odours. The Mukdahan facility has further refined its environmental monitoring through E-Nose intelligent electronic nose technology, which identifies odours and evaluates their dispersion in real time while allowing continuous data sharing with local communities. Alongside this, the V-Pass Smart Receive digital system screens raw material transport vehicles from the outset, helping avert rubber serum leakage along transportation routes.

Sri Trang Group is confident the event will reinforce trust between the factory and neighbouring communities through transparent disclosure of its operational practices. The Group continues to pursue the facility's progression towards ‘green factory’ status and remains committed to stable, sustainable growth in partnership with rubber farmers, local communities and the environment.

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Hankook Tire has secured the title sponsorship of Rally US, Round 11 of the 2027 FIA World Rally Championship, the company announced during a signing ceremony at the 2026 SEMA Show in Las Vegas on 3 November. Representatives from Hankook, the WRC Promoter and the Rally US Organizing Committee attended the event.

The agreement grants Hankook naming rights to the rally, which will be staged as Hankook Rally US under the company’s unified global brand. It represents Hankook’s first title sponsorship of a WRC round.

Hankook Rally US will mark the WRC’s return to the United States after 39 years, since the Olympus Rally in Washington State in 1988. Set for 25–29 August 2027, the event will run on gravel stages across Tennessee and Kentucky, with Knoxville serving as rally headquarters and a ceremonial start in Nashville, which also hosts Hankook’s US headquarters.

Through the sponsorship, Hankook seeks to boost brand awareness in North America, especially in the US, one of the world’s largest automotive markets. The company plans to use exposure across rally stages, the WRC Arena, fan zones and podium backdrops to engage local motorsport fans and strengthen ties with customers and partners. Hankook has supplied tyres exclusively to all WRC classes since the 2025 season and supports more than 70 motorsport competitions worldwide, feeding event data into high-performance tyre research and development.

Rob Williams, Senior Vice President of Hankook Tire North America Headquarters, said, “The WRC’s historic return to the US marks a milestone for Hankook as our first title sponsorship of a WRC round. This partnership will showcase our tyre technology, elevate our premium brand presence and strengthen ties with customers and partners across North America.”

Matt Crews, President and CEO, Rally US, said, “We’re proud to represent America’s return to the World Rally Championship, and especially proud to do it alongside Hankook. Tennessee is my home state, and Hankook is a leader in our automotive industry, with its US headquarters in Nashville and its plant in Clarksville. Hankook Rally US gives them a great platform to showcase their brand to fans here at home and to the WRC’s audience around the world.”

Senator Bill Hagerty said, “Hankook has been a great employer and partner for the Tennessee economy since they decided to move operations to our state more than a decade ago. Seeing them serve as title partner for the FIA World Rally Championship’s return to America, right here in Tennessee, will put our state in front of a global audience, and I couldn’t be more pleased of how far that relationship has come.”

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Firestone, a Bridgestone Americas subsidiary, has introduced the Firestone Pathway AS, an all-season touring tyre built for everyday drivers. It comes in 73 sizes, giving it the widest vehicle coverage of any Firestone tyre, and pairs dependable performance and long tread life with value, all backed by a 65,000-mile limited mileage warranty.

Development was shaped heavily by consumer feedback, which pushed improvements in wet traction, tread life and ride comfort over the predecessor. The original plan called for 48 sizes, but 25 more were added mid-development to broaden market reach, helping Firestone cover nearly 77 percent of registered vehicles.

A tread compound engineered for longevity, additional sipes and an optimised see-through void promote even wear and sustained traction. Deep interlocking 3D sipes deliver grip from light snow to dry and wet pavement. Internal testing recorded wet braking gains of 18 percent against the Uniroyal Laredo HT, 11.7 percent against the Firestone All Season and 7.4 percent against the Toyo Extensa AS2, along with shorter dry braking than six leading rivals. Low rolling resistance also supports fuel efficiency in combustion-engine vehicles.

Nationwide availability is underway, with fitments covering popular models such as the Toyota Camry, Toyota RAV4, Subaru Outback, Jeep Grand Cherokee and Chevrolet Equinox.

Leslie Sawyer, Senior Product Design Engineer, Bridgestone Americas, said, "Most drivers want a tyre they can depend on. The Firestone Pathway AS is designed to deliver reliable performance and long-lasting value, giving drivers the confidence they need in everyday driving situations."

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Scandinavian Enviro Systems AB (publ) has entered into a conditional service agreement with an international operator that provides transport services to the energy sector. The agreement follows a letter of intent signed by the two parties on 17 March 2026 and marks a further step towards establishing a tyre pyrolysis plant in North America. Using Enviro’s technology, the facility is intended to recycle up to 50,000 tonnes of end-of-life tyres annually.

Under the terms of the agreement, Enviro will produce the technical documentation needed for the plant’s permit applications and prepare an initial design for the entire facility. For these services, the company will receive a fixed fee of USD 2,000,000, corresponding to approximately SEK 19.5 million. The fee is divided between USD 500,000 for permit application work and USD 1,500,000 for plant design, with USD 450,000 payable once the customer decides to proceed and the remainder paid in instalments as various parts of the services are delivered. Additional work and technical support beyond the fixed-fee scope will be invoiced on an ongoing basis.

The start of Enviro’s work depends on the customer making a final decision to proceed with the project. That decision, in turn, requires the customer to have secured a site for the plant and to have entered into binding agreements with buyers of the plant’s two main products, oil and carbon black, covering at least 75 percent of expected production for each product. Should the customer neither decide to proceed by 31 December 2027 nor elect to continue, the agreement will terminate.

The assignment covers two principal deliverables: technical documentation required for environmental, planning and fire safety permit applications and an initial design of the whole plant, including drawings, equipment lists, calculations and technical specifications. The design will serve as the basis for more detailed engineering work before an investment decision. Enviro will also provide technical support during the permit application process for 12 months after delivering the permit documentation. The agreement does not grant any right to use Enviro’s technology to construct or operate the plant, which would require a separate licence agreement.

According to the timetable, the assignment is expected to be completed about seven months after the customer’s decision to proceed, with permit application documentation ready after roughly five months. The customer may terminate the assignment with 30 days’ notice, in which case Enviro is entitled to compensation for work performed and costs already incurred. Enviro remains entitled to compensation regardless of whether permits are granted or the plant is ultimately built. The agreement is described as an important step in Enviro’s strategy to establish technology-based plants internationally, with the design potentially forming the technical basis for a future licence agreement.

Fredrik Aaben, CEO, Enviro, said, “This is an important step towards establishing Enviro’s technology in North America. Together with the Customer, we are now moving from a letter of intent to a binding conditional agreement, and we look forward to designing the plant as soon as the project is ready to proceed.”

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