New York has retained the crown of the world’s most expensive business destination. The sharp increase in business and tourist travel after the end of the Covid-19 pandemic led to an 8% rise in costs in 2022 in comparison with the previous year, according to relocation services company ECA International.
According to ECA International’s survey, business travel to New York costs an average of $796 per person per day. This covers a stay in a four-star hotel, meals, taxis, and other expenses. US cities in general are high in the ranking, with both Washington DC and San Francisco in the top five most expensive cities to visit.
Anyone in a mood to spend but who needs to go to Europe could consider Switzerland. Geneva and Zurich are also among the five most expensive business destinations. Tel Aviv comes in at number six, with the cost of a visit averaging $595 per day.
London is in eighth place, edged out of seventh by Los Angeles, which is one dollar per day more expensive, at $584 on average. Angolan capital Luanda is the most expensive destination in Africa, at $564 per day, and is one place above Paris, which closes the list of the ten most expensive cities for business travel.
Inflation has raised the cost of travel to many places, while a decline in demand because of the pandemic led to cheaper accommodation in mainland China, which until recently was subject to strict travel restrictions.
If you are bound for Asia, Hong Kong is the most expensive destination on the continent, with a daily average cost of $520, $5 more than in rival financial center Singapore.
The figures are of course only averages, and the actual cost of travel can vary widely depending on a range of factors, from time of year to standard of accommodation and chosen activities. In addition, the world is still adjusting to the complexities of post-pandemic travel, and the travel industry is undergoing significant change.
The ten most expensive business travel destinations according to ECA International are (average expense per person per day):
1. New York - $796
2. Geneva - $700
3. Washington DC - $658
4. Zurich - $641
5. San Francisco - $609
6. Tel Aviv - $595
7. Los Angeles - $584
8. London - $583
9. Luanda - $564
10. Paris - $557.
Published by Globes, Israel business news - en.globes.co.il - on March 21, 2023.
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