While viewed as essential for conducting business globally, international business travelers come with a risk to corporations. As they extend their stays, enter and re-enter multiple times, the risk is that these stealth expats start to trigger immigration, tax and maybe even permanent establishment compliance issues for the company.
Additionally, business travel can be expensive. With the U.S. dollar doing well, in comparison to other global cities, U.S. cities have climbed higher on the list of the most expensive places.
The most recent ECA Daily Rates report shows New York City as the world's most expensive city for business travel costs. According to the ECA report, a trip to the Big Apple costs $799USD a day on average, according to the new report, which gives average daily rates for 2018-19 for 400 locations in 195 countries. The biggest reason for the high cost in NYC is that on average hotel costs have climbed to $512/night.
Here is the list of the top 10 most expensive locations for business travel according to ECA:
- NYC, USA ($799/day)
- Geneva, Switzerland, ($716/day)
- Zurich, Switzerland ($661/day)
- Washington DC, USA ($621/day)
- Paris, France ($617/day)
- Reykjavik, Iceland ($615/day)
- San Francisco, USA ($581/day)
- Basel, Switzerland ($579/day)
- Los Angeles, USA ($578/day)
- Bern, Switzerland ($576/day)
For the second year in a row, Hong Kong ($515/day) ranked #1 most expensive within Asia. Tokyo, Seoul, Singapore and Busan followed Hong Kong in the region.
New York ranks as the world’s top city for business travel costs, according to new data from global mobility specialist, ECA International (ECA). A trip to the Big Apple costs US$799 a day on average, according to the new report, which gives average daily rates for 2018-19 for 400 locations in 195 countries.