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Business travel can be a strain on the company’s budget. Traveling for business means spending money, from the moment you hop on the plane until you’re safely back in your office. It pays to take note of the most expensive destinations for business travel. If you know what you’re getting into, your company can budget wisely.

There are expensive cities all around the world. We have done some legwork for you and compiled a list of locations where you can spend vast amounts of money on basics such as accommodation and food. Make sure you are prepared and budgeted for travel to these pricey destinations.

Here is a list of some of the most expensive business travel destinations around the world:

Caracas

The capital city of Venezuela snagged the number 1 spot for the most expensive city for business travel for 2015. A day in Caracas will cost you about $611. For a concrete example of the high costs: toothpaste, which normally costs around $2.50 in New York City, will set you back $4.48 in Caracas. Caracas is known to have expensive accommodations mostly due to it’s high crime rate.

Geneva

The stunning Swiss city of Geneva will cost you an average of $547 per day. Hotel dining is particularly expensive here. For example, a club sandwich runs about $30 in an average hotel. High wages are the leading cause of the high cost of living for the city.

Stavanger

In Stavanger, Norway, you’ll be spending about $524 a day. The city is 26% more expensive than Abu Dhabi overall. The contributors to the high cost of living includes fluctuating exchange rates and expensive hotels and restaurants.

Hong Kong

When travelling to Hong Kong, be ready to bring at least $523 everyday to survive. Hong Kong has a high cost of basic food items including milk and bread. This, coupled with a high exchange rate for U.S. dollars, makes Hong Kong 9% more expensive than New York City.

Zurich

At $509 per day, Zurich, Switzerland has some of the costliest living expenses in Europe. The Swiss have a strong currency and high cost of labor.  Wages are high as result. The products manufactured or services offered naturally would be pricey in the city, too.  

London

Expect to spend about $508 per day in London. High prices are the norm for rents, produce and basic products and services. Be prepared to pay higher prices than usual for even simple necessities in this city.

Paris

It is no surprise to learn that spending around $502 is normal in Paris, France. The city has huge costs for living. Real estate investments are high as well as salaries, making its other neighboring cities’ prices seem low. 

If you know that your company will be spending a lot on your next business trip, you can try to reduce overall costs by booking affordable business class travel. Turn to the experts at letsflycheaper.com to find the best deals on business and first class fares for your next trip.

Have you or someone you know visited any of these destinations for business or pleasure? Any others you would add to the list? Please share your experiences with us!