London drops out of the top ten most expensive business locations in the world
Geneva has once again been voted the most expensive location in Europe for business travellers. On average, the total cost of a standard business trip to Geneva is GBP 554 a day, compared to GBP 448 in London.
The research by global mobility experts, ECA International (ECA), shows that London has dropped out of the top ten, being replaced by Monaco, Basel and Paris this year. All other UK locations included in the list have also dropped down the list.
The City is now also in sixth place in Europe, down from third the year before.
Simon Franklin, Daily Rates Manager at ECA International, says: “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.”
“Aberdeen especially illustrates the sudden drop in cost for business travel to the UK, falling from 13th to 39th in the European rankings in just two years. This has been exacerbated by the recent downturn in the oil and gas industry which has led to a reduction in demand for business travel to the area, as well as having an impact on the local economy.”
In recent years, we have seen a significant increase in interest from overseas businesses from regions such as China and India looking to invest in the UK – in particular, in London.
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We also have extensive experience in helping overseas businesses establish in the UK, either as a gateway to Europe, or a natural extension to an existing European group.
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With the UK fast becoming a key destination of choice for overseas businesses, now is the time to contact a member of our team for further information about how we can help you secure the right investment opportunity in the UK.
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