ABU DHABI // Abu Dhabi is now the second most expensive city in the world for business travellers and could soon take the number one spot, according to a new survey. While hotel room prices in the world's most popular business tourism destinations fell during the last six months - some by almost a quarter - the capital bucked this trend and rose by five per cent, according to the data from the international corporate travel firm, the Hogg Robinson Group.
Moscow remains the most expensive business destination in the world, despite hotel room rates tumbling by 14 per cent. Hotel guests in the Russian capital can expect to pay an average of US$447.36 per night while those in Abu Dhabi should expect to pay US$422.75. In contrast, Dubai hotel room rates tumbled by 24 per cent as the economic slowdown continued to bite, triggering an exodus of expatriate workers.
The report analyses room rates during the first six months of 2009. Abu Dhabi has risen rapidly among the most expensive cities of the world. It first featured in the Hogg Robinson list last year in eighth position and within only 12 months rocketed to its current place in the number two spot. "Moscow may soon lose its title to Abu Dhabi, which entered the top ten most expensive cities for the first time in 2008 six month survey," said the report, which was published on Thursday.
"Following substantial growth in 2008, Abu Dhabi has again seen average room rate increases... demonstrating demand for hotel accommodation in the city particularly from the banking and finance sectors, as well as the ongoing development and refurbishment programmes. "Neighbouring Dubai has continued to suffer from a fall in demand from the banking and finance sector, coupled with an exodus of expatriate and migrant workers due to the slowdown in the country's expansion programme.
"As a result, it has seen one of the largest rate decreases over the period." chamilton@thenational.ae rbundhun@thenational.ae hkhalaf@thenational.ae
