Daily business trip expense of 1.04 million won... Boss breaks into a cold sweat when the request is submitted here

World No.1 New York... Seoul Ranks 57th

An analysis revealed that New York City in the United States is the most expensive city in the world for business trip expenses. Seoul ranked 57th globally and fifth in Asia for the highest business trip costs.

According to international human resource consulting firm ECA International on the 21st, New York's daily business trip cost reached $796 (approximately 1.04 million KRW), making it the most expensive city worldwide for business trips.

Bloomberg reported, "Since the COVID-19 pandemic, demand for business travel and tourism has increased in New York, driving up accommodation costs. Additionally, inflation has raised prices for other everyday items used by business travelers, resulting in an 8% increase in business trip expenses compared to the previous year."

[Image source=Pixabay]

Geneva, Switzerland, known for its concentration of international organizations, and Washington DC, the capital of the United States, ranked second and third respectively.

Zurich (Switzerland), San Francisco, Tel Aviv (Israel), Los Angeles (United States), London (United Kingdom), Luanda (Angola), and Paris (France) were also among the top 10.

Half of the top 10 cities were in the United States, with two cities from Switzerland included. Luanda, the capital of Angola, was the only African city to make the top 10 list.

In Asia, Hong Kong ranked highest at 16th place with a daily business trip cost of $520 (approximately 680,000 KRW).

It was followed by Singapore (19th), Tokyo (37th), Shanghai (50th), and Seoul (57th).

Hong Kong maintained its top position in Asia, with Singapore closely following at $5 less per day. Tokyo, which was second the previous year, swapped places with Singapore due to the weakening of the Japanese yen.

ECA International calculates daily business trip costs by summing accommodation costs at four-star hotels in each region, food and beverage expenses, taxi fares, and incidental expenses. Companies worldwide use ECA's figures to set their employees' business trip budgets.