London is Favourite Destination of Business Travellers

Concur, a US-based company that offers on-demand Employee Spend Management services, has reported that in 2011, London has remained the favourite destination for business travellers.

London has topped a chart of the 25 most visited global business destinations in 2011, according to a new study submitted by Concur. Other cities on the list are Shanghai (China), Singapore, Beijing (China), Toronto (Canada) and Hong Kong (China). European destinations on the list are Paris (France), Amsterdam (The Netherlands), Stockholm (Sweden), Madrid (Spain), and Dublin (Ireland).

However, London is also the sixth most costly destination for corporate travel in terms of the cost of hotels, dining and entertainment, with London following behind the other corporate travel destinations of Tokyo (Japan), Copenhagen (Denmark), Sydney (Australia) and Stockholm.

Average airfares have increased by 9.2 percent for business travellers to the UK in 2011, compared to 2010, while accommodation in the UK has increased in price by 10.6 percent, and ground transportation by 10.1 percent in 2011, compared to that in 2010.

Concur has compiled the research findings using its database of around 15 million corporate travellers, who jointly spent £30.78 billion on travel and entertainment in 2011.

Isabel Montesdeoca, general manager of Concur for Europe, Middle east and Africa, said, ‘It’s extremely positive for the UK and shows London is still a major business hub – particularly given all the concerns about the UK losing its competitiveness. Most people think that London is an incredibly expensive city so the fact that it’s only the sixth most expensive has to be welcome news as well.’