Overseas vacation? Malaysians can go to these 3 countries.
Can we visit anywhere overseas with ringgit at current low point?
Okay, if we are very sensitive to the ringgit’s movement, then there are many countries we could not visit for now. Not sure how long but let’s focus on the ones we could still visit, okay? If we need a vacation, we still need a vacation and cannot wait until ringgit moves up or some other currencies go down right?
Here are the three countries we can visit because ringgit has actually strengthened or remained at par versus these currencies if we look back to pre-covid years for example. So, if you could visit those countries then, you could visit the same countries now as well.
Our purchasing power has risen by one-fifth versus the Japanese yen. Since their inflation is generally low, it meant that we can enjoy more for less. In fact, when I did a check on hotel prices just recently, I am amazed that the rates there are actually very competitive even versus Malaysia or Indonesia! I used booking.com or agoda.com to check the rates.
Meanwhile, whether it’s going to the capital city, Jakarta or the famous destinations like Bali or Medan or Bandung, it’s still okay to visit Indonesia. The rates are virtually unchanged versus Indonesia Rupiah. Only a 1% difference versus 5 years ago.
Malaysians love Thailand. Me too. I have visited Bangkok, Phuket, Krabi, Koh Samui, Hattyai and is looking forward to visiting more places. The rates are virtually unchanged versus the Thai Baht versus 5 years ago. Now I know why so many Malaysians love to visit Hattyai…
We have also learnt that it’s getting very expensive to travel to Singapore. Yes, in fact if we look at the Singaporean dollar, this is one of the best if not the best performing currency in the world. Within past 5 years, it has risen vs USD, Euro, UK Pound and even AUD as below. So, Australians will find it more expensive to visit Singapore but Singaporeans would find it cheaper to visit Australia these days:
More importantly is whether we earn faster than the rate of inflation too
I always share this with everyone. It’s not investment which will make us wealthy. It is the base from which we invest which will make us wealthier faster. if I earn just RM5,000 per month (B40 group), it will be slower for me to increase my wealth even if I invest every ringgit versus someone earning RM12,000 (T20 group) and investing just 50% of it. Stay focused on how could we earn more income and that will be the base to everything else. Of course what we invest in would be another big question but that’s another article.
Let us know if there are any currency which you like me to compare in the next article. Thank you!
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