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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Hankook Tire has seen its summer tyre range validated this spring by three independent testing authorities. In the Auto Bild summer tyre test from the 10/2026 issue, the Ventus evo claimed overall victory in the 245/45 R19 size with a score of 1.1 and an ‘Exemplary’ rating, while the same model also won the Auto Bild allrad summer tyre test in the 255/45 R19 size from the 12/2026 issue, achieving a 1.2 score. Meanwhile, the Ventus Prime 4 earned strong praise in the AvD summer tyre test.

The Ventus evo’s success in the Auto Bild test began in qualification, where it secured a spot among 20 finalists from a field of 50, thanks in part to the second-best braking distances recorded. In the final dry handling assessments, it delivered the shortest braking distance and the highest average handling speed, while on wet surfaces it posted the fastest lap time on the aquaplaning circuit and the quickest speed in wet handling. The tyre also offered the best price-to-mileage ratio among all finalists.

In the separate Auto Bild allrad test, conducted in a size common for modern SUVs, the Ventus evo demonstrated strength both on and off the road. It led the field in wet braking and wet handling, achieved the highest traction on gravel and wet grass, and remained competitive on dry surfaces with low noise levels and short stopping distances. The test jury concluded it was the most convincing all-rounder for all-wheel-drive SUVs.

In the AvD summer tyre test, conducted with test specialist Tempotire in the 215/55 R17 size, the Ventus Prime 4 delivered a ‘Very good’ overall result. Its performance was particularly notable in wet conditions, where it recorded fast lap times, balanced handling and short braking distances while providing clear steering feedback and safe aquaplaning reserves. On dry roads, it offered reliable handling and strong rolling comfort. The tyre also earned high marks for sustainability, with production in Europe ensuring short transport routes and its EU label ratings reflecting modern construction. The jury highlighted its durability and cost efficiency, reinforcing Hankook’s reputation for delivering premium quality at a competitive price.

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AZuR partner NEW LIFE initiative is set to host the inaugural Municipal Climate Dialogue on 22 April 2026, coinciding with International Earth Day. This free online forum, beginning at 10:00 a.m., is designed for municipal decision-makers to connect with experts and editors from the trade journal KOMMUNALWIRTSCHAFT. The event is structured around three focused 30-minute sessions, each dedicated to exploring proven strategies and concrete implementation methods for developing urban spaces that are both liveable and climate-friendly.

A central theme of this digital expert discussion is the critical role of sustainable building materials, with particular prominence given to high-quality recycled products derived from tyre rubber granulate. These solutions directly address the objectives of a climate-resilient city: reducing CO₂ emissions, minimising waste and conserving natural resources. Furthermore, the use of tyre rubber granulate obtained from end-of-life tyres aligns with the German Circular Economy Act (KrWG), which mandates public contracting authorities to prioritise recycled and durable materials. The dialogue will highlight how such products are instrumental in sustainable urban development.

Following a brief opening plenary, the event will feature three parallel 30-minute sessions, allowing participants to easily navigate between online rooms dedicated to distinct urban development topics. The morning begins at 10:10 a.m. with a focus on sustainable urban development, covering building protection through green roofs and photovoltaic systems, impact sound insulation for various construction types and vibration isolation. At 10:40 a.m., the discussion shifts to playgrounds, sports facilities and green spaces, addressing impact-absorbing flooring, playing field surfaces and green area reinforcement. The final session at 11:10 a.m. centres on transport and sustainable mobility, exploring traffic noise protection, recycled rubber asphalt for roads and traffic calming measures.

Products made from tyre rubber granulate offer municipalities a combination of ecological and economic advantages. Their use helps reactivate open spaces and reduce surface sealing, improving the urban climate through applications like water-permeable paving and rainwater-retaining green roof layers. These solutions are weather-resistant, slip-resistant and customisable while also providing long-term economic benefits due to their durability, low maintenance requirements and reduced need for repairs. Such high-quality recycled products are already being successfully implemented in urban development and municipal renovation projects nationwide.

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Thomas Womble, CEO of Liberty Tire Recycling, a prominent player in North America's tyre recycling sector, has been named Dealmaker of the Year by Pittsburgh Smart Business Dealmakers, an honour that places him among a distinguished group recognised for their decades-long influence on local industry and innovation. This accolade, presented by the Pittsburgh Dealmakers Hall of Fame, celebrates leaders whose work has produced a groundbreaking impact not only within their own organisations but across the broader regional business landscape.

Womble’s leadership was formally celebrated at the Smart Business Dealmakers Conference on 19 February, where the 2026 class of winners collectively illustrated the strength and vitality of Pittsburgh’s business community. Under his direction, Liberty Tire Recycling has evolved into a nationwide environmental services leader, operating a vast network of processing plants and employing more than 3,500 people while helping customers advance their sustainability objectives through large-scale tyre recycling.

A defining moment under Womble’s tenure came with the company’s USD 1.5 billion acquisition by I Squared Capital, a transaction that underscored Liberty’s critical position in circular economy infrastructure. This milestone, coupled with ongoing strategic acquisitions and operational growth, positions the company for sustained expansion as it continues to deliver environmentally responsible solutions for tyre manufacturers and distributors.

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Maxion Wheels, a division of Iochpe-Maxion and a global leader in wheel manufacturing, is playing a key role in bringing Daimler Truck’s vision for more sustainable commercial vehicle manufacturing to life through a collaborative effort on a concept refuse collection truck. This innovative vehicle will be showcased at IFAT Munich, the premier global gathering for the recycling and environmental sector taking place from 4 to 7 May 2026 at Trade Fair Center Messe München. Designed to highlight a commitment to circular materials, resource efficiency and forward-thinking industrial processes, the concept truck serves as a tangible demonstration of how the commercial vehicle sector can embrace environmentally responsible practices.

As the wheel supplier for this project, Maxion Wheels is translating its deep expertise in sustainability into direct action. The company is supplying steel truck wheels engineered through a combination of lightweight construction, optimised design strategies and advanced material science. By incorporating both primary and recycled materials into the manufacturing process, these wheels are specifically developed to help reduce emissions and lower the overall carbon footprint of the vehicle, reinforcing the project’s broader goals of environmental stewardship and industrial innovation.

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