Geneva is once again the most expensive location in Europe for business travellers, according to research by global mobility experts, ECA International (ECA).
On average, the total cost of a standard business trip to Geneva is £554 a day, compared to £448 in London.
Simon Franklin, Daily Rates Manager at ECA International said: “Swiss cities once again dominate the most expensive places for business trips in Europe, with five different locations in the top ten. 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.
This information is used by companies to determine daily expense allowances for staff undertaking international business travel.
London drops out of the top ten most expensive in the world
London meanwhile has seen a drop in the rankings, as have all the UK locations included in the list. The UK capital has dropped out of the top ten most expensive locations in the world for business travel, overtaken by Monaco, Basel and Paris this year. London is now also in sixth place in Europe, down from third the year before.
Franklin said: “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. 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 13th to 39th 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.”
Business travel in New York City the most expensive in the world
New York is the only location in the world more expensive for business travel than Geneva. A business trip to New York costs £611 a day on average.
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* 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.”
Hotels in London and Paris among the most expensive in the world
The price of hotels in London and Paris is much higher than anywhere in Europe, with the exception of some Swiss locations. A room in London costs on average £334 per night in a 4* hotel, making it the 11th most expensive in the world, while Paris costs £364, making it the 5th most expensive in the world.