If you’ve traveled often for business – or pleasure for that matter – then you know that cities are hardly created equal when it comes to travel expenses. Hotel rates in Washington D.C. are a far cry from the rates in a city like Wichita Falls. This becomes even truer when comparing expenses around the world.
Surprisingly, the US just barely makes the top ten in expensive cities, according to several sources between 2013 and 2014. Many of the cities on the list are expected, but there are some interesting trends in business travel costs around the globe. For example, the Middle and South Americas have historically been slated as relatively inexpensive destinations. But, Latin America has seen a recent increase of 15-30% for hotel costs in three of its major cities.
Here’s a look at a few of the most expensive cities for business travel:
Australia has seen a mega mining and energy boom as of late. Beginning in 2012, Brisbane has been a major attraction for big businesses, and tourism-based vendors in the city have not missed out on opportunities to take advantage. Despite the recent decline in visitor spending and the value of the Australian dollar, Brisbane remains atop the list of most expensive cities to travel to for business and it’s doubtful it will slip far down the list any time soon.
It shouldn’t be a shock to see Tokyo on this list. In the last 20 years, Tokyo has been ranked as the most expensive city, all around, 14 times! With meals of limitless prices, it’s not unusual for high-end dinners to reach $1000 and up. Tokyo also has plenty of entertainment to offer as the most populous city in the world! So, be careful when you arrive because Tokyo can zap away your budget in no time if you’re not careful.
More from down under! As Australia’s capital and most visited city, Sydney has been hosting travelers for a long time now. With a rich history and an impressive range of attractions, this bright city is no stranger to this type of list. Although there are many ways to get around, transportation in Sydney tends to be the most expensive compared to other cities. Meals also tend to be high and actually surpass the average cost of meals in Tokyo.
New York City
The Big Apple is still hanging in as one of the top ten most ten expensive cities in the world for business. With an endless amount of entertainment possibilities and world-renowned edibles, NYC is often quite expensive for travelers from near or far. As a city often mentioned in the same breath as London & Paris, it doesn’t get much bigger than this. The city that never sleeps is constantly entertaining and it all adds up to create the most expensive city for business travel in the US.
Hot on the heels of its cross-country counterpart, San Francisco is the second most expensive city in the US for business travel. In fact, some recent studies even suggest that – with significant increases in hotel and food costs – San Fran has surpassed the costs of NYC. Many of the major US tech companies have found their homes on the west coast so it makes sense to see this shift. It will be interesting to see if the trend continues.
Where’s your next business trip?
The big-hitters like New York City and Tokyo are certainly not new to this type of list. Having established economies with major attractions and accommodations, these cities will remain relevant for the foreseeable future. But, it is very interesting to see cities like San Francisco and those in Latin America, as they make moves to become bigger hubs for business travel. Will business travel expenses have an impact on how your company navigates the world and plans its next business moves?