London has dropped off a list of the top ten most expensive business travel locations in the world, overtaken by Monaco, Basel and Paris.
Geneva tops the list in Europe and comes second in the world, which is based on data compiled by global mobility company ECA International. On average, trips to the Swiss city cost £554 per day, compared to £448 in London.
New York City takes the crown as the most expensive place for a business trip in the world, costing an average £611 per day.
Updated annually, ECA’s Daily Rates report reviews the average costs for accommodation, meals, drinks, laundry, transport and daily essentials.
London joins all UK locations included in the list in a drop in the rankings. While the capital still sits at number six for the most expensive cities in Europe, this is down from third place last year.
However, hotels in London and Paris are among the most expensive in the world, costing an average £334 and £364, respectively.
Simon Franklin, daily rates manager at ECA International, commented: “Whilst the price of business travel to London has remained relatively static over the past few years, the strong performance of the euro in the past year has seen costs in other cities such as Paris and Monaco overtake the UK capital. The cost of business travel in the UK overall has continued to fall, with every surveyed UK location seeing a drop in the table.”