In a new report from Hickory Global Partners, New York has emerged as the most expensive city in the United States for business travel in 2024, with an average daily expenditure of $447.51. This ranking reflects the city’s ongoing dominance in corporate travel expenses and is part of a wider trend that sees several notable cities making the list.
Rising Costs Across Major Cities
The report highlights not just New York but also other major cities notorious for high travel costs. Following New York are Cambridge, Massachusetts; Boston; Washington, D.C.; and San Francisco, which occupy the second, third, fourth, and fifth spots respectively. Chicago comes in seventh, while Anchorage, Alaska, surprisingly claims the sixth position.
Anchorage’s rise can be attributed to its booming tourism sector and its status as a crucial hub for international shipping and logistics, given its busy cargo airport. Meanwhile, Santa Clara, California, home to an increasing number of tech firms, rounds out the top eight.
A Look at Global Rankings
When it comes to cities outside the United States, Rome leads the pack with an average daily spending rate of $522.49, placing it above London, which is recognized as the most expensive city by BTN’s Corporate Travel Index (CTI). The increase in hotel rates has significantly impacted Rome’s business travel costs, contributing to one of the highest year-over-year cost rises noted by Hickory in late 2024.
Other cities that make the list include Paris, Zurich, Milan, Geneva, Tokyo, and Hong Kong. Notably, Edinburgh, Scotland, ranks fourth due to its appeal as a destination for large events, bolstered by high-quality conference venues. Riyadh, Saudi Arabia, positions ninth as the city continues to expand its business and tourism sectors, aiming to attract more international visitors.
Insights on the Findings
According to Hickory’s data, the trends in travel pricing reflect broader economic conditions as well as specific local market developments. New York’s sustained position at the top aligns with findings from BTN’s recently published 2025 Corporate Travel Index, affirming the city’s reputation as a key player in corporate travel.
While major gateways like Boston, Washington, D.C., and San Francisco remain integral to the rankings, the inclusion of cities like Anchorage demonstrates the evolving landscape of business travel. As companies increasingly consider logistics and accessibility, these factors will continue to shape travel-related decisions.
Conclusion
The 2024 travel expense report serves as a reminder of the fluctuating nature of business travel costs, influenced by local economies and global trends alike. As corporations navigate their travel budgets this year, understanding these shifts will be vital in managing expenses effectively.
