According to ECA International, Hong Kong was the most expensive place to live in the region and the 16th most expensive place globally. Globally, New York remains the most expensive place in the world for business travel.
The average business trip to Hong Kong costs a total of USD 520 per day. This is a slight decrease of US$4 from last year's total. This was one of the findings of the latest daily rates research published by ECA International, a leading provider of knowledge, information and software for the management and assignment of employees worldwide.
Lee Quane, Regional Director - Asia at ECA International says, "Hong Kong has always been one of the most expensive Asian locations to visit on business, and remains so, Business travel costs decreased in 2022, albeit slightly, due to low volumes of business travel demand caused by the Covid-19 pandemic and a poorly performing economy."
Like Singapore, places in Taiwan have risen in the rankings including Taipei and Hsinchu, both of which entered the ranking of the ten most expensive business travel destinations in Asia.
Elsewhere in Asia, inflation in many places has contributed to a significant increase in the cost of business travel in local currency terms, although demand for business travel has yet to recover from the Covid-19 pandemic.
Costs have risen most in countries such as Sri Lanka, Laos, Pakistan and Kazakhstan, but have actually declined in some major cities such as Beijing and Shanghai.
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