BBS JUNE 18

4
BUSINESS SUPPLEMENT
BANGKOK SEES INCREASED
BUSINESS TRAVEL COSTS
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According to the leading human
resources firm, ECA International,
Bangkok has moved within the top
50 most expensive cities in Asia, but
it is still significantly less expensive
than those cities in the top 10 of the
index.
Hong Kong is the most expensive
city in the index, clinching the number
one spot from Tokyo, which held
it previously.
Lee Quane, ECA’s Asia director
was quoted as saying, “Although
Hong Kong has overtaken Tokyo in
the rankings, this change is mostly
because of the overall price of business
travel in Japan decreasing in
dollar terms after the yen fell in value
over the course of 2017,” adding,
“The cost of business travel in Hong
Kong has remained unchanged from
last year, with the typical business
trip costing $508 per day on average.”
ECA’s daily business travel rates
total up the average cost of hotels,
meals and transport as well as sundry
items like drinks and snacks,
laundry, internet and phone calls
and other business needs.
Back in the Thai Capital, the average
expenditure for a business trip
had risen to 8,678 baht per day or
US$278. Other Thai cities also saw
an increase.
In third place came both Singapore
and Seoul jointly, with average daily
expenditure coming in at US$479
per day.
Mr. Quane was also quoted as saying,
“Although only a small increase,
the rise in business travel costs in
Singapore reflects a growing trend,”
adding, “Hotel costs have risen
slightly in the past 12 months, but
the main reason for Singapore’s rise
has been the increased cost of eating
out in restaurants frequented by
business travellers in the city over
the past year.”
On the other end of the scale Malaysia
remains the cheapest place
for business expenditure.
Mr. Quane was quoted as saying,
“The continued weakness of
the Malaysian ringgit against major
currencies has ensured that the
cost of business travel in Malaysia
is cheaper than elsewhere in Asia,”
adding, “Indonesia, Thailand, Brunei
and Cambodia have cities which
rank among the cheapest in the region
for business travel, but the cost
of a business trip to Kuala Lumpur
is less than half of what it is in Hong
Kong.”
The cost of business travel to China
has also risen and Shanghai has
moved into ninth place in the index,
yet it is still $100 less expensive per
day than the Hong Kong or Tokyo.
When looking at the global rankings
as opposed to just those in
Asia then New York tops the list at
US$793 per day.
Mr. Quane was further quoted as
saying, “New York tops the rankings
as the most expensive location
for business travel due to the high
cost of hotels and travel, as well as
mandatory 15-20% tipping policies
during meals out,” adding, “High demand
for hotels especially means
rates can be charged at a premium,
and this is reflected in the average
cost of a stay at a four-star hotel,
which stands at a huge $509 per
night.”
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