New York is the world’s most expensive city for business travel, according to a new report, with an average day costing 11 per cent more than second-place Geneva.
Four Swiss cities appear on the list, with hotels in Switzerland coming out as the most expensive in Europe. A four-star hotel in Geneva costs £292 a night on average, according to ECA, £41 more than in London.
The most expensive cities and their average daily cost were found to be:
- New York, £618
- Geneva, £553
- Zurich, £511
- Washington DC, £481
- Paris, £477
- Reykjavik, £476
- San Francisco, £448
- Basel, £447
- Los Angeles, £446
- Bern/London, £444
The figures add up the average cost of hotel accommodation, meals, drinks, laundry, taxi journeys and daily essentials.
Within the UK, the top five were:
- Central London, £444
- Edinburgh, £320
- Manchester, £282
- Glasgow, £258
- Cardiff, £254
ECA said Edinburgh showed the biggest year-on-year increase in the UK, up £13 on last year’s report, with high hotel costs the biggest factor.
While it did not appear in the overall top ten, Hong Kong was ranked the most expensive business travel destination in Asia for the second year running, with the average trip costing £398, including hotel costs of £221.
“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 £396 on average,” Steven Kilfedder, Production Manager at ECA, commented on the results.
“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.
“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,” he continued.