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Denise Tsang

Hong Kong is the most expensive city in Asia for business travellers, a survey has found.
The overall cost of visiting the city jumped 1.4 per cent to US$515 (HK$4,000) compared to last year, according to an annual report from management consultants ECA International.
Taking into account the cost of hotels, meals, drinks, laundry, taxi rides and other daily necessities, the city costs 4 per cent more than Tokyo, and 8 per cent more than Seoul, which are second and third on the list respectively.
But business travellers to Singapore will be better off, with a 2.3 per cent drop in costs to US$468 per day as the city state slipped to fourth in the rankings, a place lower than last year.


Still, Hong Kong is 35 per cent cheaper than the world’s most expensive location for business travellers, which is New York at US$799.
ECA regional director Lee Quane said hotel accommodation marked the biggest share of business travellers’ costs and accounted for more than half of the total.
“Hong Kong has always been one of the most expensive Asian locations to visit on business due to the combination of a high cost of goods and services, and expensive hotel prices,” he said.
To make matters worse, the continued strength of the Hong Kong dollar over the past year, which is pegged with the US dollar, means goods and services have been even more expensive.
The study analysed data from 400 locations in 195 countries, examining costs in 3-5 star hotel rooms, meals, laundry, alcoholic and soft drinks, incidental costs and taxi journeys.

Tourism lawmaker Yiu Si-wing said that, as demand outstrips supply, high hotel room rates would continue to dog the city.
“The root of the problem is supply is not catching up with the growth in demand; for example, the Excelsior hotel shut down earlier this month to make way for the redevelopment of a commercial building,” he said. “Some long-haul business travellers may be under more pressure for costs and shorten their stay in Hong Kong from, say, three days to two while short-haul travellers might choose to stay in Shenzhen.”
Hong Kong recently saw the opening of two high-end hotels – the 195-room St Regis in Wan Chai and 413-room Rosewood in Tsim Sha Tsui – but, combined, they failed to offset the loss of the 869-room Excelsior in Causeway Bay.
Hong Kong 28th in survey of most liveable locations for Asian expatriates
According to the Hong Kong Hotel Association, 2018 was a record year for the city’s hotel and hospitality sector. While room rates grew by 9 per cent to an average of HK$1,310 per night, occupancy hit 92.05 per cent, compared with 90.74 per cent in 2017.
Michael Li Hon-shing, executive director of the Federation of Hong Kong Hotel Owners, argued the average price of a hotel room in Hong Kong was about HK$1,300 a night in 2018.
“It is not fair to blame the hotel sector,” said Li. “During peak season, like when there are exhibitions and conferences, room prices might be a bit higher. But hotel prices cannot be the sole factor for expensive business travel. Air fares can also be expensive.”
According to government figures, there were 292 hotels in Hong Kong last year (2018), providing 82,124 rooms. This compared with 240 hotels and 72,700 rooms in 2014.
Hong Kong shares gold for world’s most expensive city, alongside Paris and Singapore
The Hong Kong Tourist Board warned recently that the strong US dollar is expected to prevail this year as the United States flagged the prospect of raising interest rates further.
The board said the currency factor might affect the spending intentions of inbound travellers.
Its latest statistics showed the number of business travellers who stayed overnight in the city dipped 0.3 per cent last year to 3.9 million, as air travellers from mainland China chose to skip Hong Kong and fly directly to other regions.
The 3.1 per cent decline in mainland air traveller numbers offset the 2.8 per cent jump in non-mainland markets.
Additional reporting by Ng Kang-chung


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Report by ECA International finds price of visiting city has jumped 1.4 per cent since 2018
Daily cost of being in Hong Kong put at US$515 a day, while Singapore drops to US$468


Report finds cost of visiting city rises to US$515 a day while rival Asian destinations, such as Singapore, Tokyo, Seoul, all get cheaper.


Hong Kong tops Singapore, Tokyo and Seoul in global business survey – but not in a good way

Report by ECA International finds price of visiting city has jumped 1.4 per cent since 2018 Daily cost of being in Hong Kong put at US$515 a day, while Singapore drops to US$468

Report by ECA International finds price of visiting city has jumped 1.4 per cent since 2018

Daily cost of being in Hong Kong put at US$515 a day, while Singapore drops to US$468