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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Citira, a Sweden-based company specialising in circular tyre management, has reached an agreement to acquire the Swedish truck and bus maintenance firm Malte Månson from the private equity group Accent Equity. The combination of Citira’s tyre expertise with Malte Månson’s vehicle servicing is designed to create a convenient, full-service offering for heavy vehicle fleets initially in Sweden, with further expansion planned across Europe.

For 108 years, Malte Månson has operated as a renowned independent maintenance partner for truck and bus operators throughout Sweden. The company has established a strong reputation for reliable day-and-night service, comprehensive drivetrain and ancillary equipment repairs and a warm customer approach. In 2025, the firm reported revenues of SEK 773 million (approximately USD 82.31 million).

The transaction remains subject to standard closing conditions and regulatory approvals, with finalisation expected in the third quarter of 2026. Following the deal, Staffan Lindewald and his fellow members of the management team are set to become co-owners of Citira.

David Boman, CEO, Citira, said, “Together with Malte, we can build a unique service offering for heavy vehicle fleets and users, delivering convenient and sustainable uptime, with only one point of contact for the customer. I am deeply impressed by the high-calibre team at Malte, which will be an excellent fit with our network of tyre shops.”

Staffan Lindewald, CEO, Malte Månson, said, “Citira felt like a natural fit for Malte. We share a position as an independent service-focused challenger. We share the same type of heavy vehicle customers for which we provide complementary services. With Citira, we can reach more customers, provide additional services to our existing ones and accelerate Malte’s growth journey.”

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Epsilon Carbon Pvt. Ltd., a leading global manufacturer of carbon black, speciality carbon and coal tar downstream products, has been recertified under the Responsible Care programme by the Indian Chemical Council, with the certification valid through March 2029. The recertification applies to the company’s integrated manufacturing complex in Vijayanagar, Karnataka, recognised as one of India’s largest fully backward integrated carbon complexes. This facility has an annual capacity of 215,000 tonnes of carbon black and 220,000 tonnes of speciality carbon.

Responsible Care represents the global chemical industry’s leading voluntary initiative, focusing on safe chemical management throughout the product lifecycle. The programme has helped Epsilon Carbon embed safety and responsibility into daily operations, employee training and cross-functional decisions, moving beyond mere regulatory compliance.

For customers, partners and investors, the recertification offers third-party verification of operational integrity from raw material handling to product dispatch. Many industrial manufacturers accept Responsible Care certification as a sufficient global standard, and Epsilon Carbon has secured long-term supply contracts as a preferred supplier, reinforcing trust regardless of the company’s growth scale.

Gaurav Mathur, Chief Executive Officer, Epsilon Carbon, said, "We adopted Responsible Care early in our journey, well before it was a norm for a company of our scale. At that time, our focus was on building it right, not doing it quickly. That discipline has shaped our safety culture, our systems and the trust we have built with global customers and financial partners. As we expand into Odisha and grow our product portfolio, this recertification is a signal that our commitment to responsible operations continues to scale alongside our ambitions."

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Bridgestone has launched a new range of underground mining tyres engineered to perform in extremely harsh conditions, enabling greater productivity with fewer resources. The VMNT, VMDL and VMMS products are specifically designed for underground applications, where abrasive rock, high moisture and continuous operations create one of the toughest environments for tyres.

All three models debut Bridgestone’s Subterranean technology, allowing haulers to carry heavier loads without raising inflation pressure. This innovation also lowers the risk of cuts, penetrations and costly downtime. The tyres form part of the company’s Moving More with Less philosophy, balancing higher capacity, durability and safety to help operators maximise output underground.

The tyres reduce penetrations by enveloping rocks instead of allowing them to cut into the rubber while preserving grip and operator comfort. The VMNT offers extended wear life for underground haulers, the VMDL uses a unique lug pattern for traction on load and haul dump machines and the VMMS features a smooth grooveless design where traction comes from terrain contact, plus cut-resistant sidewalls. Available sizes include 26.5 R25, 29.5 R29 and 35/65 R33.

This release strengthens Bridgestone’s off-road tyre portfolio and reinforces its commitment to innovative solutions that improve productivity, durability and safety in specialised global applications.

Rob Cole, Key Account Manager – Off Road Tyres, UK and Ireland, Bridgestone, said, “These tyres are specifically designed for the harshest terrains that you’ll ever come across. Underground mines are among the most demanding and challenging environments imaginable. The beauty of these tyres is that they can carry 15 percent extra load capacity without increasing the pressure. Traditionally, the thinking in this sector was to make the casing stronger and simply put more air into the tyre to carry more load. In reality, that can be counterproductive in these conditions.

“If a tyre fails underground, it can fail with a tremendous amount of force, costing operators huge amounts of money in downtime and, more importantly, potentially endangering life. The machines themselves are getting heavier, so the tyre beads have also been strengthened to help carry more load safely and effectively. What Bridgestone has developed here is a tyre range capable of handling the severe realities of underground mining while helping operators move more with less.”

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The Yokohama Rubber Co., Ltd. has confirmed that its flagship ADVAN brand tyres powered the JR2 Class victor at 2026 WRC FORUM8 Rally Japan, the seventh round of the FIA World Rally Championship. The race took place from 28 to 31 May on courses spanning Japan’s Aichi and Gifu prefectures.

The ADVAN A051T tarmac rally tyres delivered the grip, control and wear resistance essential for navigating the event’s technically demanding stages under high surface temperatures. The JR2 Class is designated for national and regional rally vehicles with engine displacements above 1600 cc and up to 2500 cc. The winning car was a TOYOTA 86 fielded by K-ONE RACING TEAM, driven by Yuta Yamamoto and Shizuka Takehara.

Their well-coordinated, precision driving, combined with the ADVAN A051T tyres’ performance, allowed them to clock the fastest time on every stage except SS10, where a Notional Time was applied. The pair finished over 17 minutes ahead of the second-place car. Yamamoto has now claimed first place in the JR2 Class at Rally Japan for five consecutive years, with ADVAN tyres contributing each time.

Beyond Rally Japan, Yamamoto also competes in the Japanese Rally Championship, where he has secured the JN-3 class series title for three straight years, again supported by ADVAN rally tyres. Rally Japan is the country’s round of the WRC, which ranks alongside Formula 1 and the FIA World Endurance Championship as a premier global motorsport series. The competition is run entirely on tarmac roads, and this year’s WRC calendar features 14 rounds across different nations worldwide.

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