Hickory Global Partners has released a ranking of the most expensive and popular cities for business travel based on 2025 booking data. New York and London lead in both cost and popularity, while Rio de Janeiro emerges as a surprising favorite despite its low prices. The report highlights strong demand in the sector, with global spending projected to reach $1.7 trillion by 2026.
Hickory Global Partners, a global corporate travel consortium, analyzed corporate hotel bookings, travel agency data, and business events to compile its 2025 rankings. The focus was on the average daily rate (ADR) per city, covering both domestic and international markets. This data underscores the thriving business travel industry, where cities with robust ecosystems for events and networking attract high spending.
In the United States, New York tops the list for both expense and popularity, thanks to its infrastructure, cultural institutions, and business events. Chicago ranks second in both categories, serving as a key hub for meetings and conventions. The top 10 most expensive U.S. cities include New York, NY; Chicago, IL; Las Vegas, NV; San Diego, CA; Dallas, TX; Charlotte, NC; Atlanta, GA; Orlando, FL; Houston, TX; and Columbus, OH. For popularity, New York leads, followed by Houston and Chicago, with cities like San Diego and Atlanta gaining ground due to competitive prices and industry access in oil, gas, technology, and entertainment.
Internationally, London stands out as the premier destination for cost and popularity, driven by its role in finance, technology, and trade. Paris and Tokyo follow closely. The top 10 most expensive international cities are London, England; Paris, France; Tokyo, Japan; Amsterdam, Netherlands; Singapore, Singapore; Toronto, Canada; Montreal, Canada; Calgary, Canada; São Paulo, Brazil; and Rio de Janeiro, Brazil.
Rio de Janeiro particularly surprises, with an ADR of $71 yet ranking second in international popularity after London. Its rise stems from developing business infrastructure, proximity to Latin American markets, and appeal for bleisure travel combining work with beaches and culture.
The report projects an 8% growth in global business travel spending for 2026, reaching $1.7 trillion, as companies prioritize efficient experiences in these destinations.