Business trips are often inevitable, and it needs thorough planning. Surely, everyone wants it to be as economical as possible. However, sometimes it is inevitable, especially if you are traveling to Hong Kong for your work travel. A research by Daily Rates’ concluded quite shocking facts, published by ECA international.
As of 2019, Hong Kong has been ranked as the most expensive location for business travel in Asia. On average, a business trip to Hong Kong would cost you about US$515 in a day, and a hotel cost of $286.
Daily Reports made a report calculating the average cost for hotel accommodation, meals, drinks, transportation, laundry, and daily essentials. This useful report should be a consideration for companies that are planning to go on a business trip to the country
The high cost of goods and service as well as hotel has always been known in Hong Kong. Even now, it is gradually becoming more expensive than other expensive locations around the world, such as Tokyo, Seoul, and Singapore. The cost for Hong Kong is now more expensive by 4 percent than Tokyo, and 8 percent more than Seoul and Singapore, making it first in the list.
Reportedly, Tokyo costs about $494 for one day. Although, despite being in third place, Seoul has higher capital moves above Tokyo if hotel costs are excluded. This means that the price of food, drinks, and other things that are included in a overall cost of a trip is higher in Seoul than Tokyo.
It can be concluded that the hotel costs can inflate the overall figure. This fact makes it great importance to look at all aspects of a business trip instead of just the combined cost.
Meanwhile, in Singapore, the average cost for a day of a business trip is $468. It is the country in the fourth place of the most expensive places business travel destinations in Asia.
The level of international business travel to the country is steady, which makes the cost relatively static over the years. Even, the hotel room cost is tuned down by a notch this year, where it went down from $256 to $249 per night. The small decrease does not necessarily change the amount of demand, and the number of visits to the country is as high as always, making it one of the busiest cities in the world for business trips.
Another expensive business travel destination around Asia is Shanghai, China. There, you will need $378 per day. Even so, Lee Quane, the Regional Director for Asia at ECA International stated that Shanghai is not included in the list of ten most expensive business locations in Asia, and it is also not included in the top 100 globally. Chinese hotels are generally cheaper than a lot of other countries around the world. However, the overall cost may get high from other necessities in the business trip.
ECA’s rankings showed that Johor Bahru in Malaysia is the cheapest business trip destination, costing you only $184 per day with hotel cost of $84 per night.