Business events in London still provide value for money, even though accommodation is some of the most expensive in Europe, a new report has found.
According to research by BDRC Continental, London has the most expensive accommodation out of the eight European cities it measured, which included Amsterdam, Barcelona, Brussels, Frankfurt, Milan, Prague and Vienna.
Despite the high cost of accommodation, London was much more affordable when it came to the cost of the meeting alone. When these figures were separated, London came in second place behind Barcelona. For meeting cost, there wasn’t as much difference between the most and least expensive, a swing of no more than 21 per cent.
In terms of accommodation, meanwhile, the increase from least to most expensive was 221 per cent, eventmanagementhub.com notes.
Despite this perceived expense, report author James Bland said that London remained a ‘top tier’ city and added benefits elsewhere, such as practicality or the simple fact that, as a city, London can justify expensive accommodation.
“Once again, London has topped the price league for accommodation, although the cost of its meeting space is far more competitive,” he told meetpie.com.
“This micro-study shouldn’t be misinterpreted as a blanket condemnation of the city’s value proposition. Although the nominal costs of leaving London make it look like a ‘no brainer’, there are other factors (time and convenience) to consider, as well as the possibility that London charges more because it can command and justify that sort of margin.”