Budget-conscious travelers may think twice before heading to London or Paris this year. According to the latest edition of Tripadvisor's TripIndex Cities, published June 12, the French and British capitals are the world's most expensive destinations, while Hanoi, Vietnam offers the best value.
Carried out annually, the TripIndex Cities study looks at the overall cost of an evening in 48 popular tourist destinations to determine the most and least expensive cities for travelers. The ranking is based on the average price for an evening on the town and an overnight stay for two people, including cocktails at a five-star hotel, dinner in a downtown restaurant, taxi fare and a night in a four-star hotel room during the summer season (June - August).
In the 2014 edition of TripIndex International Cities, London skyrocketed to the top of the ranking of the most expensive destinations, rising six places compared to the previous year. TripAdvisor's research indicates that two travelers will spend $519.86 on average for an evening of entertainment and accommodations in the British capital. Paris also rose in the ranking this year, moving from fifth to second place with a total price of $509.84 per evening on average.
In the ranking of the best value destinations, Hanoi -- in second place in 2013 -- claimed the top spot this year with an average cost of $152.89 per night. Jakarta rose a whopping 19 places up in the ranking compared to last year, landing in second place with an average cost of $158.40 per evening.
Unsurprisingly, European cities dominated the list of the most expensive destinations (seven out of ten), while Asian and African cities accounted for the majority of the best value destinations.
Less than $3 round trip for a taxi in Jakarta
Among the destinations on the list, Cape Town offers the most affordable cocktails ($5.51 for two). In comparison, the tab in Paris adds up to $51.65. In terms of dinner, Stockholm stands out as the priciest destination ($171.00), while a typical Hanoi restaurant will set tourists back a mere $34.16.
Oslo is where travelers will pay the most for cab fare, with a short round trip (4 miles total) costing $56.30 on average, nearly 20 times as much as a similar journey in Jakarta ($2.89).
In terms of hotel prices, New York tops the ranking for the second consecutive year with an average nightly rate of $363.74 at a four-star establishment. In Bangkok, travelers can reserve a room in a similar hotel for just $85.72 per night.
Top 10 Best Value Destination Cities
1. Hanoi, Vietnam
2. Jakarta, Indonesia
3. Sharm el Sheikh, Egypt
4. Bangkok, Thailand
5. Sofia, Bulgaria
6. Cape Town, South Africa
7. Mumbai, India
8. Kuala Lumpur, Malaysia
9. Prague, Czech Republic
10. Budapest, Hungary
Top 10 Most Expensive Destination Cities
1. London, UK
2. Paris, France
3. New York, USA
4. Stockholm, Sweden
5. Oslo, Norway
6. Zurich, Switzerland
7. Copenhagen, Denmark
8. Helsinki, Finland
9. Toronto, Canada
10. Sydney, Australia
The TripIndex Cities ranking includes one major city from 48 of the 50 countries that receive the highest number of international tourists, as reported by the UN World Tourism Organization. The study calculates the average cost per destination based on the price of a night in a four-star hotel, cocktails for two at a five-star hotel, dinner for two (appetizer, main and a bottle of house wine) and round trip taxi fare (two trips of 2 miles each).
The study was carried out by Ipsos Mori. Prices were surveyed in the local currency between March 5 and March 31, 2014 and were converted into US dollars on March 31, 2014.
Meanwhile, in the TripIndex U.S. Cities Index, San Francisco ranked as the most expensive destination with the average evening expenses coming to $507.75, ahead of New York. The city where the best bargain rates could be scored was found to be Las Vegas, where total cost came in at $276.03, followed by Miami ($311.29).
The complete ranking and methodology can be found at Tripadvisor.com.
Source: Relaxnews