Businessmen and women travel across the globe daily to conduct business, and cost is always a concern, but which places are the most expensive to visit? The team at expertmarket reveals all.
New research shows that Caracas, the capital of Venezuela, is the world’s most expensive city for business travelers, who on average spend $611 per day of their trip. The report compiled by Expert Market compares prices paid by corporate travelers for typical business expenses, including hotel rooms, car rental reservations and food prices to calculate the averages around the world.
Caracas’ shock position as the world’s most expensive city for business travellers is largely a result of the Venezuelan government’s strict currency controls. Caracas is also one of the world’s most dangerous cities, which means business travelers are often booked into the most expensive hotels, in a city that is already one of the world’s most expensive.
No US cities make the top 20 with San Francisco (the most expensive US city at $445 per day) ranked in 23rd place. When you compare typical business costs in Caracas and San Francisco it is clear why there rankings are so far apart:
• Taxis are 70% more expensive in Caracas than San Francisco
• A meal at an average restaurant is 30% more expensive in Caracas
• The same McDonald’s meal is 70.3% more expensive in Caracas.Michael Horrocks for Expert Market commented, “We find that cities in Europe and Asia are typically more expensive for business trips, but it is surprising that neither San Francisco or New York make the top 20 as hotel rooms and other expenses can skyrocket here too. As an international company Expert Market sends staff all over the world, but our US team definitely take more business trips than those working in European markets. The lower cost to the business is a major factor in this.”