International Trade

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At £1,429 per day, the most expensive city for business travel is…

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It is a known fact that different countries have different cultures and it’s exactly the same for business culture. What is acceptable in a business meeting in the UK may not ring true in China for example.

Travelex has carried out a survey with 1,000 business travellers, to dive into the trends for business travel and the most common issues they face.

This research has revealed that the most expensive country for business travel – at an eye-watering cost of £1,429 per day – is Riyadh in Saudi Arabia.

Where else is it pricey to do business?

  1. Riyadh, Saudi Arabia – £1,429 per day
  2. Beijing, China – £901 per day
  3. Toronto, Canada – £760 per day
  4. Oslo, Norway – £705 per day
  5. Kuala Lumpur, Malaysia – £668 per day
  6. Sao Paulo, Brazil – £655 per day
  7. Stockholm, Sweden – £640 per day
  8. New York City, USA – £635 per day
  9. Mumbai, India – £630 per day
  10. Sydney, Australia – £544 per day

On average, a business traveller will spend £354 every day while abroad.

Gifts are on people’s minds when travelling, too. The majority (76 per cent) of business travellers spend money on gifts for people back home. This could be down to almost one in seven travellers suffering feelings of guilt due to being away from home.

Travellers don’t feel too bad, though – fully half of business travellers feel excited when away with work, and 26 per cent even feel “relaxed”. 

So much so, that more than half of business travellers (57 per cent) visit tourist attractions or explore the city they are in while on their business trip. 

When it comes to paying for their business travel expenses, the most common method of payment is – unsurprisingly – a company credit card. Otherwise, much on the trip tends to be prepaid, meaning there is no expense to the employee; or employees pay out themselves and then claim the costs back immediately.

Worries?

Of course, all does not always go to plan. And this does worry employees. Their top five biggest concerns about business trips are:

  1. Travel/organisation not going to plan (31 per cent)
  2. Language barrier (20 per cent)
  3. Cultural differences (18 per cent)
  4. Crime/safety/terror (15 per cent)
  5. Running out of money (5 per cent)

This potential disorganisation is, often, due to the business travellers themselves: almost half (45 per cent) of business travellers don’t research the place they are travelling to.

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