Travel expenses in Colombo 75% higher than 2022 – report

A recent research conducted by ECA International has revealed that Sri Lanka , amongst a few other countries, saw the largest increase in expense for travellers.

The research conducted by ECA International ranked countries based on costs for short trip expenses: four-star hotel rooms, meals, laundry, alcoholic and soft drinks, journeys by taxi and incidental costs, with the aim of helping organizations anticipate the cost of business trips and short-term assignments.

Accordingly, Sri Lanka, Laos and Pakistan saw the largest increase in expenses for travellers, the report revealed, adding that soaring inflation rates were likely contributory factors.

As per the report, business travel expenses in Colombo were 75%, in terms of  local currency, than  they were in 2022.

“This primarily stemmed from high inflation and currency depreciation, since some costs associated with business travel … are typically incurred in US dollars by foreign business travelers here”, it said in this regard.

Meanwhile, Hong Kong and Singapore sat at the top of the list for most expensive locations for business travel in Asia, with the daily costs in each country amounting to USD 520 and USD 515, respectively.