In a world of instant communication, is travel for business purposes of any real use?

Possible Points for and against is travel for business purposes of any real use

Business purposes include a wide variety of activities.
• Instant communication by telephone, email and video conferencing are important for getting and staying in touch regarding day to day issues without wasting time.
• Other ‘business’ activities require a personal and specialist presence, e.g. choosing a site for a business venture, assessing damage to buildings or equipment, facilitating protracted negotiations through trust arising from social interaction, interviewing candidates for top jobs and the testing and trialling of all kinds of engineering products.
• Instant communication is a welcome tool as a complement to necessary travel for business purposes.