Published on Tuesday, April 17, 2018

London no longer one of world's most expensive cities for business trips

London has dropped out of the top 10 most expensive cities in the world for business travel, having been overtaken by Monaco, Basel and Paris.

All UK cities have dropped down the rankings compared to a year ago, while London has slipped from the third priciest place in Europe to the sixth.

New York is the most expensive city in the world for business travellers, according to research by ECA International, while Geneva is the most expensive in Europe.

ECA International daily rates manager Simon Franklin said: "The high demand for hotels in New York is reflected in the premium rate that rooms are currently charged at; averaging £392 per night at a 4-star hotel. The high cost of hotels and transport, as well as mandatory 15-20% tipping policies during meals out, contribute to the US city being the most expensive in the world for business travel."

On average, business travellers spend £611 a day in New York, £554 a day in Geneva and £448 in London.

"Swiss cities once again dominate the most expensive places for business trips in Europe, with five different locations in the top ten," added Franklin.

"Switzerland has always been an expensive nation for business travel, and this year is no different as the Swiss franc has performed very strongly."

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 transport and daily essentials.

"Whilst the price of business travel to London has remained relatively static over the past few years, the strong performance of the euro in the past year has seen costs in other cities such as Paris and Monaco overtake the UK capital," added Franklin.

"The cost of business travel in the UK overall has continued to fall, with every surveyed UK location seeing a drop in the table.

"Aberdeen especially illustrates the sudden drop in cost for business travel to the UK, falling from 13 to 39 in the European rankings in just two years. This has been exacerbated by the recent downturn in the oil and gas industry which has led to a reduction in demand for business travel to the area, as well as having an impact on the local economy."

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