New York ranks as the world’s top city for business travel costs, according to new data from global mobility specialist, ECA International (ECA).
A trip to the Big Apple costs US$799 a day on average, according to the new report, which gives average daily rates for 2018-19 for 400 locations in 195 countries.
Each report itemises costs for the following expenses for flexibility when calculating allowances for short trips abroad.
Updated annually, ECA’s Daily Rates report reviews the average costs for hotel accommodation – which makes up the bulk of any daily allowance – as well as meals, drinks, laundry, taxi journeys and daily essentials. (Four-star hotel accommodation was used as the point of comparison for costs in these rankings as it best represents the typical level of accommodation used by business travellers.)
Steven Kilfedder, Production Manager at ECA International, said: “A big proportion of the cost of business travel to New York can be attributed to the high demand for hotels in the city with a room costing $512 on average.
“These costs in combination with consistently high prices for transport and at many restaurants can make trips to the city extremely expensive, contributing to the city being ranked the most expensive in the world for business travel.”
The full list of the 10 most expensive locations for business travel globally, according to ECA, is:
Hong Kong remains the most expensive location in Asia for business travel, and Geneva in Europe.
Kilfedder adds: “Hong Kong has always been one of the most expensive Asian locations to visit on business, due to the combination of a high cost of goods and services, and expensive hotel prices; however, in recent years we have seen Hong Kong pull away slightly from other expensive locations such as Tokyo, Seoul and Singapore, and this year has been no different with Hong Kong now costing 4% more than Tokyo and 8% more than Seoul in second and third places respectively.”
In Europe, Kilfedder noted: “London business travel has weathered the Brexit uncertainty thus far and it remains one of the busiest business hubs in the world. In part this is because demand has been boosted by the fall in the value of the pound after the Brexit vote in 2016, making the UK more affordable for international visitors.”
Swiss cities dominate the top ten costliest locations in Europe for business travel with Geneva leading the rankings ahead of Zurich (2nd), Basel (5th) and Bern (6th). Hotels in Switzerland are also the most expensive on the continent.