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If you were globe-trotting in 1988, your expense account would have taken the biggest hit in Tokyo, where a night's lodging and three meals would have set you back $352. According to Runzheimer International, the next most expensive cities in 1988 were Paris, where you'd have spent $292; London, $259; Sydney, $245; and Frankfurt, $231.
The picture has changed quite a bit since then. Tokyo and London have switched places. Per diem costs in London have risen to $445, whereas costs in Tokyo are a mere $383. More surprising is the …