Singapore has been ranked as the world’s 25th most expensive city for business travellers from the United Kingdom, up from 44th spot last year, according to the Global Hotel Market Survey.
The leap in Singapore’s ranking is in line with reports from the Ministry of Trade and Industry saying that the average room rates in the country have increased 20 percent this year.
Hong Kong leapt seven places to become the world’s third most expensive city for UK travellers, posting a 13 percent growth in the local currency because of increased demand from the banking and finance sector.
Among the cities surveyed, Hong Kong saw the highest growth, with an 11 percent and 17 percent increase in Q1 and Q2, respectively.
Moscow remained the most expensive city for UK travellers despite a weaker rouble.
Abu Dhabi dropped six places to rank eight this year from second spot last year. It recorded the highest average room rate decline of 25 percent in the local currency.