HK eclipses Tokyo as costliest city for business travel

Hong Kong | Apr 17, 2018 16:12
Hong Kong has been rated the most expensive location in Asia for business travelers.
ECA International, which provides information and software for the management and assignment of employees, found in a survey, that Hong Kong overtook Tokyo in the rankings.
Lee Quane, Asia region director for ECA International explained that Hong Kong overtook Tokyo mainly because the overall price of business travel in Japan dropped in US dollar terms after the yen fell in value in 2017.
The cost of business travel in Hong Kong has remained unchanged from last year with the typical business trip now costing US$508 per day on average, he said. A typical business trip to Tokyo will cost US$501 per day, down from US$537 in 2016.
ECA’s Daily Rates reports provide average costs for hotel accommodation, which makes up the bulk of any daily allowance, as well as meals, drinks, laundry, taxi transport and daily essentials. This information is used by companies to determine daily expense allowances for staff who undertake business travel.
Singapore ranked joint third. A typical business trip to the island would cost US$479 per day on average, compared with US$472 last year.
Shanghai ranked as the ninth most expensive location for business travel in the region, but is much cheaper than Hong Kong or Tokyo.
Although Hong Kong is Asia’s most expensive location for business travel, it ranks outside of the top 20 locations globally, and ranks 29th overall, significantly cheaper than in first placed New York where the average business trip would cost US$793 a day.
Second in the global rankings, and the most expensive European location for business travel, is Geneva where the average business trip would cost US$720 a day.

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September 2018