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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Giti Tire has strengthened its response to electric mobility by securing original equipment deals with major automakers while overhauling product design for the unique strains of battery-powered cars. Engineers have focused on solving challenges such as increased curb weight, immediate power delivery and the need for exceptionally quiet cabins, which set EVs apart from traditional vehicles.

Several leading brands, including Volkswagen, BYD and BMW, now fit Giti rubber on next-generation models across European and Asian markets. The technical focus has centred on lowering rolling resistance, controlling tread wear and managing acoustics, all of which are critical for factory-approved EV tyres. A case in point is the GitiControl P10, chosen for the BYD Sealion 7, iCar 03 and Deepal S07. By reworking the tread pattern and compound, the P10 manages higher loads and torque while preserving range, grip and durability while reducing interior noise.

Meanwhile, the GitiSynergy family has proven itself through the H2 variant on the Volkswagen ID. Buzz in Europe, including during a Guinness World Record attempt that tested long-distance reliability. The upgraded H2+ version further refines energy efficiency and ride comfort to meet BMW’s standards for consistency and low noise. On the performance front, the GitiSport S2+ earned an ‘Exemplary’ rating from Auto Bild in its 2026 Summer Tyre Test, ranking near the top for braking, handling and grip under high torque and heavy vehicle loads.

Together, the P10, H2+ and S2+ cover touring, daily driving and high-performance EV segments. Through ongoing collaboration with vehicle manufacturers and continuous engineering advances, Giti Tire is building a reputation as a dependable supplier for the electric mobility era.

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Bridgestone Americas has unveiled the new UltraWeather all-weather grand touring tyre aimed at drivers needing consistent grip on sedans, crossovers, SUVs and light trucks. The product replaces the outgoing WeatherPeak model and carries the three-peak mountain snowflake designation, confirming its ability to handle severe winter conditions. Through the application of ENLITEN technology, the tyre promises longer wear, lower fuel consumption due to reduced rolling resistance and dependable performance across every season.

Engineered for modern driving demands, the UltraWeather shows superior wet braking in internal evaluations, stopping four feet shorter than its predecessor and reducing hydroplaning risk via specialised grooves and shoulder slots. On snow, the tyre demonstrates a 14 percent shorter stopping distance compared to the Goodyear WeatherReady 2 while also outperforming both the Pirelli WeatherActive and the prior Bridgestone WeatherPeak by 10 percent. A proprietary PeakLife polymer and closed centre rib slots support the rubber’s longevity, backed by a 60,000-mile (approximately 96,560 km) limited warranty.

Additional ENLITEN benefits include noise-reducing structural design, rolling resistance improvements for better fuel economy and the use of renewable soybean oil in manufacturing. The tread pattern is precision-tuned to limit vibrations and road noise, contributing to a quieter, more comfortable ride for daily commuters and long-distance travellers alike.

The UltraWeather is available in the market from 1 June 2026, initially in select sizes before expanding to a total of 61 options for 16- to 22-inch rims. Popular vehicle fitments include the Honda Civic, Subaru Impreza, Toyota Highlander and Volkswagen Taos.

Dale Harrigle, Chief Engineer, Consumer Replacement Tire Development, Bridgestone Americas, said, “Our all-new UltraWeather grand touring tyre helps give drivers a new level of confidence, regardless of the day’s forecast. By integrating our ENLITEN technology, we’ve developed a tyre that delivers a remarkable balance of year-round reliable performance and sustainability elements, surpassing its predecessor.”

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Birla Carbon has announced a series of organisational changes aimed at aligning with market trends, enhancing customer value and strengthening execution. The company is restructuring into three business units covering Asia, Americas and EMEA, and Specialty Materials.

Amit Kumar has been named President for the Asia rubber business, while John Davidson assumes the role of President for the Americas and EMEA rubber segment. Shashank Awasthi becomes President of Specialty Materials, overseeing global operations including speciality carbon blacks and Nanocyl for non-rubber markets. Zachary Combs takes on the role of Head of Global Technology, focusing on process and product development.

In parallel, Birla Carbon will continue evaluating its asset base in response to shifting demand, leveraging major expansions in Asia amid weaker demand in the Americas and Europe.

John Loudermilk, President & Chief Executive Officer, Birla Carbon, said, “The rapid pace of change today requires a nimble organisation, empowered to make quick decisions and act. These changes will enable Birla Carbon to further strengthen partnerships, drive innovation and create value for our customers.”

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Hankook Tire has secured a new role as the Official Control Tyre Supplier for the 2026–2027 season of the Australian Production Car Endurance Series (APCES), following a partnership with the Australian Racing Drivers’ Club (ARDC). The APCES is a newly launched endurance championship created by the ARDC and Motorsport Australia, designed to continue the country’s legacy of production car racing. The series will feature production-based vehicles competing across eight performance-based classes, labelled X, A1, A2, B1, B2, C, D and E.

Hankook will exclusively supply its Ventus TD (Z221) R-Spec tyres to all participating teams, working alongside official trackside supplier Gary’s Motorsport Tyres. The control tyre format, which equips every competing vehicle with identical tyre specifications and performance, is intended to provide consistent racing conditions throughout the championship. The semi-slick tyres feature an optimised tread pattern and advanced compound technologies, delivering strong dry grip, stable cornering, excellent braking and superior heat resistance even under prolonged high-speed driving.

The championship will begin its opening round at Sydney Motorsport Park on 30 and 31 May, with additional races scheduled at Sandown International Raceway in August and Queensland Raceway in September. The final round is set for March 2027 at Mount Panorama Circuit in Bathurst, New South Wales, as part of the iconic Bathurst 6 Hour endurance race. The overall series champion will be determined at that concluding event.

Hankook has already built a strong reputation in Australian endurance racing as the official tyre supplier for the Bathurst 6 Hour, and it continues to sponsor other local events including the First Focus Radical Cup Australia Series, the Precision National Sports Sedan Series and the Hyper Racer Hankook Australian Drivers’ Championship. Moving forward, the company plans to strengthen its global premium brand position by using racing data from extreme motorsports conditions, combined with its global innovation R&D infrastructure, to develop ultra-high-performance tyre technologies.

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