AUSTRALASIA – Business travel in Queensland’s capital Brisbane is the most expensive of all of the world, according to the Concur Expense IQ report, which focuses on corporate travel and entertainment (T&E) expenses.
Overall, according to the report, the top 10 most expensive international cities for business travel were: Brisbane, Tokyo, Sydney, Perth, London, Stockholm, Melbourne, Zurich, Paris and Dubai.
In Brisbane, a hotel costs on average US$305.05 a night in comparison to New York, which would cost $194.62 a night. For sustenance, a meal for a business traveller in Australia costs $70 on average compared to $49 in Paris.
Average T&E spend fell 4.5 per cent from 2011 to 2012, with most of the drop occurring in Q4 of 2012. Among key expense types, dining dropped the most, 11.1 per cent, followed by car rental (9.1%) and airfare (8.2%). Hotels dropped the least (3.8%).
The top 25 most visited international cities included London, Shanghai, Singapore, Beijing and Tokyo followed by Toronto, Hong Kong, Paris and Mexico City. Of the top most visited US cities, New York, Las Vegas and Chicago ranked top.
In the 2013 Concur Expense IQ report, expense management company Concur compiles and analyses data from over 20m users to understand exactly how money is being spent by businesses small and large, around the globe. Concur processed over $50bn in expense reports last year alone.
“We hope the analysis will give you greater insight into your own company’s spending – indicating, for example, if the rates you are negotiating are high or low for your market – so you can manage your T&E budgets and expense management processes more intelligently in the future,” says Robson Grieve, Executive VP at Worldwide Marketing, author of the report.
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