The survey was conducted among nine nations that included United States, United Kingdom, Canada, France, Germany, Hong Kong, Japan, Australia and India. Among the list of 25 most-visited business places, Mumbai ranked 20th, per an article by the TOI.
The city dropped in ranking from rank 11 in 2011 to 12 in 2012 with the average expenditure dropping from around $258 to around $227 for categories of lodging, ground transport, entertainment, and dining. Mumbai, however, maintained its ranking, but for the total average expenditure dropping from approximately $255 to $238.
In terms of average transaction amount, Bangalore ranked last with $227.83 and Mumbai stood 23rd with $238.37. Simultaneously, the average transaction amount also fell for both the cities. The report further discusses the dollar decline and how it has affected the actual spending in rupees. The average spending on lodging was the highest in India with 31%, while the other APAC countries like Japan, Hong Kong,and Australia reported a spending of 23%, 25% and 14% respectively.