The consulting company ECA International has compiled a ranking of the cities in the world where business travelers incur the biggest expenses. Separately, analysts calculated how much business trips to Asian regions cost.
TOP-10 – 4 US cities
The consulting company ECA International has presented the TOP 10 most expensive urban destinations for business trips.
Analysts studied the daily spending of business travelers in 457 cities in 196 countries. The main criteria were the cost of a room in a 4 * hotel, meals, laundry services, taxi rides, drinks, and contingencies.
New York was the most expensive business travel destination in the world in 2022 for the second year in a row, with business travelers spending an average of $796 per day in the city, according to the study.
Compared to 2021, business travel spending in New York increased by 8%. Three more US cities entered the TOP 10: Washington (3rd place, expenses – $658 per day), San Francisco (5th place, $609), and Los Angeles (7th place, $584).
Traveling to Switzerland is also expensive for business travelers, with Geneva ($700) and Zurich ($641) coming in second and fourth, respectively.
The traditional business centers of Europe – London (8th place, $583) and Paris (10th place, $557) – also entered the TOP-10. Also in the top ten in terms of spending are Tel Aviv (6th place, $594) and Luanda, the capital of Angola (9th place, $564).
The most expensive for business travelers in Asia – Hong Kong
Hong Kong is the most expensive city in Asia for business travelers for the second year in a row, according to a report by ECA International. A business trip to this financial center costs an average of $520 per day, making Hong Kong the 16th most expensive business travel destination.
In terms of average spending, Hong Kong is only $5 ahead of Singapore ($515, 19th in the world).
In turn, Singapore overtook Tokyo (37th place, $424), Shanghai (50th place, $392), Seoul (57th place, $380), Dhaka (59th place, $376), Taipei (62nd place, $372), Beijing (66th, $371), Yokohama (87th, $350), and Hsinchu (90th, $349).
ECA International’s study highlights that inflation in many Asian countries has contributed to significant increases in business travel spending. Costs rose the most in countries such as Sri Lanka, Laos, Pakistan, and Kazakhstan.