HONG KONG: Hong Kong is no longer the most expensive destination for business travellers in the Asia-Pacific region, with Tokyo overtaking the city last year, according to the latest survey conducted by human resources consultancy ECA International. But this did not mean Hong Kong had become a cheaper place for such trips. Daily expenses – including hotels, food, transport and incidentals – rose 2 per cent to US$508 (HK$3,900) compared with figures in 2015.
Lee Quane, the consultancy’s regional director, attributed the city’s drop from the No 1 spot to the Chinese economic slowdown, as well as the appreciation of the Japanese yen against the US dollar in the past year. “Declines in tourism and business travel to Hong Kong, factors associated with the current regional economic malaise, are the main drivers behind this fall,” he said. Quane explained that many international business representatives would stay in the city for one or two days before setting off for the mainland. But this demand had declined in the past year due to slow business on the mainland.
