Tokyo becomes the most expensive location in the Asia-Pacific region for business travel in 2016, while Hong Kong has fallen to the second place last year, a survey from consulting firm ECA International showed here on Tuesday.
The London-based company released its latest Daily Rates reports, analyzing 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.
The cost of four-star hotel accommodation in Hong Kong in 2016 has fallen by around six percent, mainly due to the declines in tourism and business travel, said Lee Quane, Asia's Regional Director for ECA International.
Factors associated with the current regional economic malaise are producing lower occupancy rates, forcing hoteliers in Hong Kong to reduce prices from the previous year, Quane said.
The total cost of a typical business trip to Hong Kong, excluding travel to and from the city, is 508 U.S. dollars per day on average, according to the survey.
Looking at four-star hotel accommodation, Tokyo is the only location with higher rates than Hong Kong, Quane said, adding the appreciation of the Japanese yen against the U.S. dollar, has led to Tokyo taking first place in the region in 2016.
When hotel costs are excluded, Hong Kong falls to fifth in the regional ranking, following Tokyo, Seoul, Sydney and Yokohama, the survey showed.