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Here's why Singapore is a cheaper business travel hub than Hong Kong
Hotel accommodations are 20% less than its rival city.
It would seem more economical to do business in Singapore than in its rival Hong Kong, a study found out.
According to a research by ECA International, although Singapore is among the top 5 most expensive location in Asia Pacific for business travels, it still beats its rival practicality-wise for its lower average hotel accommodation.
The research looked at costs commonly incurred during the course of business trips including accommodation, transport, meals, and day-to-day necessities.
According to ECA International director for Asia Lee Quane, albeit having one of the most expensive room rates in the region, average hotel accommodation in Singapore is 20% cheaper than in Hong Kong.
"Looking at 4-star hotel accommodation, rates here are the 7th highest in the region, approximately 20% lower than comparable accommodation in the most expensive location, Hong Kong," Quane said.
Quane said Hong Kong secured the top position in the ranking because of its skyrocketing accommodation fees especially in its Special Administrative Region.
“In terms of the total costs associated with business travel that are borne by the company, Hong Kong is more expensive than anywhere else in Asia,” he said.
Excluding hotel fees, Hong Kong falls into eighth place, while Singapore slightly moves to the fourth position. Seoul takes the top position followed by Tokyo and Sydney.
"Seoul and Tokyo’s high rankings are a reflection of the general high cost of goods and services in these two cities, combined with the fact that language issues may limit business travellers in terms of their choices for meals out,” Quane explained.
Meanwhile, the cheapest location in Asia for business travel is Kuala Lumpur, which is trailed by Bangkok, Phnom Penh, and Bandar.
"A combination of generally low living costs, relatively cheap accommodation options for business travellers and weak currency against the USD have contributed to these locations being where they are in our rankings,” he noted.
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