Travelling for business can be seen as one of the perks of the job, especially if you get to experience different cities around the world. Many of these cities are known for their financial districts as they have a concentrated area of businesses that offer services from that industry.
In this article, we will show you some of the world’s top business capitals and some tips to help you have the best time travelling for business.
Why People Travel for Business
Many companies utilise travel to conduct their business operations, whether is it in the same country or further afield. If you are flying then it makes sense to use a private jet such as a Bombardier Challenger 350 to make the process a lot smoother. This plane is a midsize business jet, meaning your landing options are more wide-ranging.
There are various reasons why travelling is beneficial to the business. Conducting face-to-face meetings are helpful when making a first impression and when closing a deal. Meeting in person rather than conducting business over email or a video call helps to encourage trust and openness, as you can read everyone’s body language.
Meeting in person also reduces the risk of miscommunication, as written communication can sometimes be read differently by different parties.
Making an appearance at a trade show or live event can be a strong move as it allows you to both check out any competition and network with future collaborators. Similarly to conducting important meetings in person, seeing someone representing your company will help gain customers’ trust and help them to remember you.
If your business has recently opened a new office or headquarters, having a CEO or member of the executive team make an appearance can help your employees feel valued and appreciated.
You also may be able to inspire them to rise through the ranks of your business, helping to keep valuable talent within the company.
The World’s Top Business Cities In 2022
An analysis of four factors has determined that these 8 cities were the top business cities in January 2022.
- Hong Kong
- London
- Paris
- Frankfurt
- Amsterdam
- Tokyo
- Singapore
- Oslo
The study looked at over 200 cities in total and compared them on Charisma, Economy, Business Environment and Society.
Hong Kong has a high proportion of banking institutes, and when combined with a sound legal framework for residents and businesses alike, it is no wonder that plenty of businesses choose Hong Kong as their home. Hong Kong also has great trade relations and benefits from being situated between China and the rest of the planet.
London has always been a prominent trade and business centre and is well known for foreign exchange services as well as banking and insurance services. The Bank of England is the world’s second-oldest bank and controls all of the currency in the United Kingdom.
Singapore excels in having a transparent and solid legal framework which works well with its stable economy. Despite having fewer resources and land, Singapore does well in industries such as biomedical science, electronics and mechanical engineering.
A unique feature of the Singaporean workforce is that, due to a mix of different cultures, it is very disciplined and efficient.
What Are Some Things to Bear In Mind When Travelling for Business?
- Plan ahead: Make sure you have a clear idea of your itinerary and travel arrangements before you leave. This includes booking your flights, accommodations, and transportation.
- Pack smart: Pack only what you need and try to pack light to avoid additional baggage fees. Bring essential items like chargers, business cards, and documents.
- Be prepared for the unexpected: Delays, cancellations, and other unforeseen circumstances can disrupt your travel plans. Have a contingency plan in place and be prepared to adjust your itinerary if needed.
- Dress appropriately: Dress professionally and appropriately for the business setting. Research the dress code for your destination if you are unsure.
- Stay connected: Make sure you have access to the internet and a phone to stay connected with colleagues, clients, and family.
- Stay organized: Keep important documents, receipts, and business cards in one place to avoid losing or misplacing them.
- Take care of yourself: Travel can be exhausting, so take care of yourself by staying hydrated, getting enough rest, and eating healthy meals.
- Be respectful of cultural differences: If you are travelling to a foreign country, be respectful of the local culture and customs.
- Maximize your time: Use your downtime effectively by networking or exploring the local area.
- Stay safe: Be aware of your surroundings and take precautions to stay safe, especially when travelling alone or in unfamiliar areas.
Final Note
We believe you now know why people go on business trips – both locally and outside the country. This can be because of a variety of reasons, and we have already talked about some of them. If you are also thinking of embarking on one soon, we have also given you some tips that could help.