5 Holiday Destinations for Malaysians when Ringgit is Weak

A vacation is what you take when you can no longer take what you have been taking.

Different people have different ways to enjoy life. But to travel and to go on a vacation ticks the box for many people.

So far I have only known a handful (pun intended) of people who do not like traveling.

And if we look at the number of flights from 2004 to 2021, it has been increasing YoY, save for 2020 when the world was plagued by a pandemic.

The only sad thing is, that we are not able to have as much vacation as we like, due to financial or annual leave limitations.

But when you throw in another curveball – like a weakening currency (*coughs in the Malaysian Ringgit), it might further put a vacation out of reach. (p.s. I’ll be sharing how you can protect your money from devaluing as Ringgit continues to weaken)

Fortunately, there are still affordable choices out there for Malaysians to settle their wanderlust. Here’re 5 holiday destinations for Malaysians to consider when Ringgit is weak:

1. Vietnam

Vietnam is a captivating country nestled in Southeast Asia, offering an enticing blend of rich history, vibrant culture, stunning natural beauty, and delectable cuisine.

With what it can offer, Vietnam surprisingly stands out as an incredibly affordable destination, making it an ideal choice for budget-conscious travelers seeking an unforgettable vacation experience.

Choose to either get swept off by the emerald waters, towering limestone karsts, and hidden caves of Ha Long Bay, or explore the ancient town of Hoi An, with its well-preserved architecture and colorful lantern-lit streets.

Those who favor urban scapes can immerse themselves in the offerings of Hanoi and Ho Chi Minh City, while beachgoers can find pristine beaches in Phu Quoc.

And the cherry on the cake – great tasting Vietnamese cuisine.

A one-week getaway should be in the range of RM2,000 – RM 3,000 per pax, with 3-star hotel accommodation, and RM100 to be spent daily on food.

2. Thailand

Thailand remains one of the best places to visit. Known as the Land of Smiles, it boasts some of the best beaches and food in the world.

However, there is a catch with regard to prices – the closer you are to the capital, the more pricey things are, and vice versa.

Prices are no longer as cheap as they used to be in Krungthep (that is the official Thai name of Bangkok by the way) as price tiers of tuk-tuk and cabs are different between tourists and local Thais.

However, if you are willing to venture out of the capital or go North, prices can still be affordable.

Places like Chiang Mai, Chiang Rai, and Hatyai remain affordable less the hefty price tag. Cultural experiences might be also more authentic as well.

A budget of RM2,500 should be sufficient for a week’s retreat.

3. Taiwan

Taiwan might be just a small island nation located off the coast of China, but it packs a big punch when it comes to tourism. With its stunning scenery, rich culture, and delicious food, Taiwan is a hidden gem of Asia that is sure to amaze and delight visitors of all ages.

Taiwan has its fair share of history and culture, influenced by Chinese, Japanese, and Aboriginal heritage. It also has stunning scenery – Taroko Gorge remains one of the prettiest places I have ever been.

But for most people, it’s all about the food and night markets. Taiwanese cuisine is a delicious fusion of Chinese and Japanese influences. Visitors can sample everything from street food favorites like stinky tofu and bubble tea. Be sure to try some of the local classics, such as beef noodle soup, oyster omelets, oyster vermicelli soup, and pineapple cakes.

The only killer expense would be the plane ticket as it is further away from South East Asia. To travel out of SEA for this trip, one might need to set aside RM5,000, assuming you plan to go circle the entire Taiwan.

4. Indonesia

Indonesia is a vast and diverse country, spanning over 17,000 islands and offering visitors a truly unique and unforgettable vacation experience. From its pristine beaches and lush rainforests to its ancient temples and vibrant culture, Indonesia has something to offer everyone.

Indonesia was once home to the thalassocratic empires of Srivijaya and Majapahit. Although these civilizations do not exist today, they left behind stunning architectural buildings such as the Prambanan and Borobudur temples.

For natural enthusiasts, there is Mount Bromo, an active somma volcano where trekking and exploring are allowed. Or they can swim in the crystal-clear waters of Lake Toba, or relax on the white-sand beaches of Bali.

Indonesian food has humble origins yet packs a punch. Nasi goreng, nasi padang, ayam penyet and es teler are all daily staples yet iconic dishes to try. There are surely not enough days per trip to try everything.

Indonesia would be affordable like other South East Asia, requiring a budget around RM 2,500- RM 3,000.

5. Malaysia

Malaysia is truly a hidden gem when it comes to being a vacation destination.

We have our rich heritage and history. Not many places around the world are a melting pot of culture. Ancient palaces and memorials from the Malay sultanate still stand tall, while architecture reminiscence of the Portuguese, Dutch, and Great Britain colonization became landmarks and tourist attractions.

Our rainforests, oceans, and mountains captivate nature lovers around the world, as it is home to thousands of species. Yet we still boast bustling cities and towns as UNESCO heritage zones.

The culture and tradition of the Sabah and Sarawak ethnic tribes, in the likes of the Kadazan Dusun, Dayak, Murut, Iban, and others, survived through the test of time and modernization.

This is something that modern Singapore cannot offer nor can claim as theirs.

While Singapore can claim all of Malaysia’s street foods as its culmination in the eyes of the world, we know that those with sensible tastebuds would nod in agreement that Malaysian street food beats Singapore’s hands down.

Yes. Going on a local road trip, or a flight to Sabah and Sarawak, might not be a vacation worth shouting about on Instagram for Malaysians.

But I am pretty sure what Malaysia offers has truly captivated those who have visited as tourists.

The grass is always greener on the other side, a wise man once said.

Perhaps that is why I find the Taiping Lake Gardens just normal.

Hotels and petrol in Malaysia can be very affordable (yes it is compared to other countries). So a week getaway, even if it involves hotels and petrol, should require less than RM2,000 per pax.

Don’t let your home currency strength dictate or limit your vacation plans

There are still plenty of vacation destinations that are affordable, even when the Ringgit might be weak.

But let me plant another seed of perspective – what if there is something you can do so that you are not at the mercy of the weakening Ringgit?

We are not the policy makers nor the national bank. We cannot dictate the Ringgit strength or the monetary policy.

But we can definitely choose what to do with our savings and capital allocation.

The Malaysian Ringgit will always need to be conducive for exports as it is the bread and butter of Malaysia’s economic growth. Which means it will have to be competitive.

While you might think that living and spending in Malaysia will not hurt you, when you reconsider that notion, you will realize prices of what we used to pay 10-20 years ago are no longer the same as now.

The prices we paid for McDonald’s last time have almost doubled in 10 years.

Chances are, it will double up again in the next 10 years.