Singapore rises as 2nd most expensive location in Asia for business travel
The average business trip to Singapore now costs US$515 per day.
Singapore has overtaken Tokyo to become the second-most expensive location in Asia for business travel, with the cost of a trip averaging US$515 ($689.42) per day.
Globally, Singapore ranked 19th.
According to ECA International, Singapore’s early removal of travel restrictions compared to other locations in Asia sparked a rise in demand for travel to the city, contributing to its rise in the rankings.
Compared to last year, the average cost of business travel to Singapore has increased by US$34 ($45.52). In local currency terms, the daily costs of business travel to Singapore increased by 10%
“Business travel to the city picked up earlier than most other locations in the region with the government’s comprehensive lifting of travel restrictions. The resulting increase in demand contributed to rises in hotel accommodation costs, while costs associated with other daily essentials consumed by business travellers also increased at a faster rate than other locations in the region.” Lee Quane, regional director – Asia at ECA International, said.
1 SGD = 0.75 USD