Hong Kong retains spot as most expensive business destination in Asia
Staff, 2023-03-21 19:21:00,
Hong Kong has been named the most expensive location in Asia for business travelers — for the second year in a row, according to a new report.
ECA International’s latest Daily Rates research ranked countries based on costs for short trip expenses: four-star hotel rooms, meals, laundry, alcoholic and soft drinks, journeys by taxi and incidental costs.
The research aims to help organizations anticipate the cost of business trips and short-term assignments, the data company said.
A business trip now costs an average of $520 a day in Hong Kong, which is also ranked the 16th most expensive location for business travel in the world.
Most expensive locations for business travel in Asia
|Seoul, South Korea||$380|
Source: ECA International
That’s despite low demand from business travelers, as Hong Kong closely followed mainland China’s tough zero-Covid policy. It was only in late 2022 that it began to relax some of its restrictions.
“Hotel costs continue to make up a majority of the overall cost of business travel, and in spite of lower occupancy levels in 2022, advertised room rates [in Hong Kong] did not fall significantly,” Lee Quane, ECA International’s regional director for Asia, told CNBC.
“This may have been due to demand from local residents, while hotel properties may also have needed to…
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