London has emerged as the most expensive and popular destination for international business travel in 2025, according to data from Hickory Global Partners. The city surpassed Paris, Tokyo, and others in both cost and visit frequency, based on average daily spending for accommodation, transportation, and meals. This marks a shift from 2024, when London ranked second behind Rome.
The annual rankings released by Hickory Global Partners analyze 2025 booking statistics from their corporate travel consortium, focusing on average daily spend per city outside the United States. London secured the top position with the highest costs, driven by rising expenses for accommodation, transportation, and meals, alongside its status as a global business hub with high demand for premium services.
In the previous year's rankings, London placed second after Rome, but it has now overtaken Paris and Tokyo to lead. Paris follows in second place, noted for its luxury accommodations, premium dining, and demand for event spaces. Tokyo ranks third, influenced by high-end hotel prices and growing corporate events. Amsterdam takes fourth, and Singapore fifth, both recognized for their business environments and services.
Beyond expense, London dominates in popularity, leading in the frequency of business visits worldwide. It outpaces Rio de Janeiro, which ranks second, followed by Paris in third, Toronto in fourth, and Tokyo in fifth. These cities serve as key hubs for executives, conferences, and delegations.
In the United States, New York City maintains its lead in both cost and popularity, supported by its financial role and infrastructure. Chicago ranks second for expense and third for popularity, with strengths in finance, technology, and manufacturing. San Diego and Dallas have entered the top 10, offering efficient options for cost-conscious travelers.
The rankings highlight ongoing trends in global business travel, with major cities like London and New York continuing to attract high spending, while secondary U.S. destinations gain traction.