Singapore second most expensive city to stay in Asia: report

The average rate of a hotel room is $352 (US$260) per night.

A study dubbed Singapore as the second most priciest city to stay in Asia, recording an average of $352 (US$260) for travel accommodation every night.

FCM Consulting report also showed that Singapore was bested by Tokyo, which has an average rate of $387 (US$286) per night. The third most expensive city is Hong Kong, with $333 (US$246) per night.

Global occupancy for the year-to-date June 2023 was 63.3% which is 96% recovered to 2019. In Asia, India posted the highest occupancy with Mumbai reaching 101%, and New Delhi at 97%, followed by China with Shanghai at 95%, and Beijing at 93%.

Airline seats

The Asia Pacific region documented a rise of 6.9% in domestic seats but is still 22.5% lower when it comes to global seats.

Globally, China Eastern takes the lead at 103%. The next is LATAM and United Airlines at 102%, American Airlines at 99%, and Qantas and Qatar Airways at 98%.

China Eastern Airlines leads in Asia with a 103% forecast, followed by Singapore Airlines at 97% and Cathay Pacific at 72%.

Business class fares

In Asia, the study reported an almost 20% increase in business class fares, with the Middle East reporting the highest increase in business class fares by 29%. It was followed by Australia and New Zealand at 27% and Asia at 19%.

Flights from Shanghai Hongqiao International Airport to Singapore saw the highest increase of 37%, Mumbai to London and Shanghai Pudong International Airport to Singapore saw an increase of 20%.

$1 = US$0.74

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