New research reveals the most and least expensive cities for business trips.
Comparing the cost of fuel, food and accommodation, the new research from Allstar Business Solutions: A Day in the Life of a Businessman, has found that there is a large disparity in average spend across the 20 largest cities in the UK.
The research considered average fuel usage over 24 hours, the average cost of breakfast at an inexpensive restaurant or cafe, a business meeting over three-course lunch, refreshments during the day including a coffee and a bottle of water, ending with an overnight stay in a city centre hotel.
Using cost of living data, average hotel costs and average fuel costs, a comprehensive view of the UK has been developed, including the top and bottom five most expensive cities.
5 cheapest cities for trips
5 most expensive cities for trips:
Major cities, with their large populations and employer bases, are where a day’s business expenses will cost more. London, expectedly, is the most expensive city in the UK for business expenses, while employees save 28% on all expenses by doing business in Manchester instead.
Many businesses based in London are adapting to the costliness of operating there, some even choose to move their hub to other cities around the UK as a cost saving measure.
Based on these numbers alone, a business can benefit by relocating their operations and reducing company expenditure, businesses can hope to grow – increasing their revenue and profit margins.
At an average cost of £264.00 per night, a hotel in London is 69% more expensive than the average cost of a hotel in Hull, where the cost of a hotel is cheapest. An overnight stay on Humberside will cost you £82.00, which is the third cheapest place for an overnight business stay.
When it came to breakfast at an inexpensive restaurant, the cheapest was found in Coventry at £9.00, while the most expensive is in London at £15.00.
The gap narrows slightly for a business lunch: a 3-course meal for two at a mid-range restaurant will cost just £37.50 in Bradford compared to £55.00 in London, a difference of more than a third.
Regarding everyday items, the difference between the prices of a medium cappuccino and bottles of water are small across the country. However, in Bradford, you could purchase both these items for £2.64 and still have spare change, while a cappuccino alone will cost you £2.70 in Bristol.
Finally, fuel across the UK is largely standardised, with the average price of fuel between the most expensive city, London, and least expensive, Bradford, differing by 9p.