Top 5 travel destinations where your dollar will go furthest (2024)

By Lily Girma

(Bloomberg) — Global travel is predicted to set an all-time record this year, even as the cost of vacations continues to rise. Americans looking to soften the blow will want to consider where the US dollar’s strength will get the best value in hospitality, goods and experiences.

Using the Bloomberg World Currency Ranker and the US Treasury Bureau of the Fiscal Service, we picked five enticing destinations that have shown favorable exchange rates over the past two to three years. Although hotel prices are not expected to fluctuate dramatically as leisure demand normalises, a strong dollar at this time means deals can be had on local purchases that range from tours and meals to shopping.

Overall, the results show that this is a great year to visit Asia, a region already in demand as it begins its most “normal” tourism year since COVID-19 struck. Japan continues to be a popular choice, but Vietnam and South Korea stand as solid alternatives among numerous countries in Asia with favourable exchange rates for the US dollar.

Closely following in value are South American countries: Argentina and Chile are among those offering the biggest luxury bang. A further option points to a once-in-a-lifetime location: Tanzania’s Serengeti. While rate-fluctuation percentages might appear low in some cases, savings can add up quickly, particularly for those traveling in a group.

Here’s a look at five destinations we recommend that will stretch your dollar most in 2024, as well as some new luxury hotels and excursions to put on your agenda while you’re there.

Vietnam

After a slow tourism restart in 2022, Vietnam welcomed 12.6 million tourists in 2023 – around 70% of its pre-pandemic figure – and it expects to welcome 18 million of them this year. With hospitality brands eyeing Vietnam as the region’s next luxury travel destination, Ritz-Carlton Reserve and Luxury Collection will open on the beaches of Phu Quoc island in coming years, while a JW Marriott is planned for Unesco World Heritage-designated area Trang An, in northern Vietnam. In the meantime, you can beat the crowds: Consider a stay at the Sofitel Legend Metropole Hanoi, starting at US$279, and an all-inclusive, three-day luxury cruise, in a royal cabin aboard Paradise Peak along Halong Bay, starts at $526 per night.

By the numbers:

In December 2021, US$1 = 22,765 Vietnamese dong

In December 2023, US$1 = 24,260 Vietnamese dong

A private tour of Paradise and Phong Nha caves costs around 2,959,450 Vietnamese dong. In 2021, that was US$130 … now it costs US$121.

Bottom line: 6.9% less expensive

Indonesia

Bali has attracted much attention in recent years due to unruly tourists. It remains a draw for its lush, sea-to-volcanoes scenery and luxurious lodgings whose prices are a fraction of what you’d find in the Global North. Consider the upcoming 150-suite and villas at Regent Bali Canggu, slated to open in the second quarter of this year, for a stay along a surfing beach coupled with access to a Regent Spa; rates are not yet available but consider that the five-star St. Regis Bali starts at US$552 a night in July.

An hour’s flight east of Bali would take you to eco-oriented hotel Cap Karoso on Sumba Island (from US$225 a night), where you can hike jungles and ride Sumbanese sandalwood horses.

By the numbers:

In December 2021, US$1 = 14,195 Indonesian rupiah

In December 2023, US$1 = 15,372 Indonesian rupiah

An all-inclusive luxury spa day in Ubud, Bali, costs around 3,080,315 Indonesian rupiah. In 2021, that was US$217 … now it costs US$198.

Bottom line: 8.7% less expensive

Colombia

The Colombian peso’s favourable exchange rate against the US dollar continues to draw digital nomads and tourists – more than 5 million in 2023. You can score a stay at the Four Seasons Bogotá, starting from US$334 a night, or opt for an island stay off Cartagena’s coastline, for US$360 a night in high season, at the Sofitel Baru, which opened in 2021. Curated tours can take small groups off the beaten track in popular areas, such as luxury outfitter Abercrombie & Kent’s new nine-day Bogotá to Cartagena itinerary (starting from US$9,795).

Even if you’ve already done the main cities, this is a country ripe for deeper explorations. Jacada Travel recommends a mountain stay in the charming town of Barichara for hiking in the lush Santander region and visits to coffee farms and colonial architecture. The town is set become more accessible from Bogotá and Medellín, thanks to the inauguration of Los Pozos de San Gil Airport (SGL) in 2023; flights are likely to ramp up this year. Bonus: Colombia’s flag carrier Avianca ranked in 2023 as the world’s most on-time airline.

By the numbers:

In December 2020, US$1 = 3,414 Colombian pesos

In December 2023, US$1 = 3,873 Colombian pesos

An all-day private snorkelling trip to Rosario Islands costs around 911,538 Colombia pesos. In 2021, that was US$267 … now it costs US$235

Bottom line: 12% less expensive

Tanzania

Long a draw for safaris, including some aimed at witnessing the Great Migration, a trip to Tanzania during in the first quarter of 2024 could entail fewer crowds and better luxury deals at some of the destination’s most anticipated openings. Mobile safari camp Wilderness Usawa Serengeti (starting from US$950 per person, per night) opened in 2023 and offers an all-inclusive luxury stay whose principal activity involves following the wildebeest migration from seven secluded camp locations in Serengeti National Park. Set to open in May 2024, Singita Milele’s secluded five-suite, 10-person hilltop villa promises breathtaking wilderness views over the Serengeti and sightings of wildlife, including from its infinity pool (from US$26,250 per night for buyouts; day use available).

By the numbers:

In December 2021, US$1 = 2,301 Tanzanian shillings

In December 2023, US$1 = 2,505 Tanzanian shillings

A day visiting the Ngorongoro Crater costs around 690,300 Tanzanian shillings. In 2021, that was US$300 … now it costs US$274.

Bottom line: 8.7% less expensive

South Korea

We’ve already recommended Busan, South Korea’s Miami, in our annual list of destinations for 2024. Beyond the beachside hub lie other buzzy cities. Seoul is trending well among international destinations, according to Hopper’s 2024 Outlook: United Airlines increased service from San Francisco last year, Delta will add a second daily flight from Atlanta in April, and Westjet will add a route from Calgary to Seoul in May. A room with sweeping city views at Seoul’s luxurious Josun Palace starts from US$289 per night; the hotel opened in 2021 under Luxury Collection in the city’s vibrant Gangnam district. On Jeju Island, a beach resort stay at the Shilla Jeju begins at just US$243 a night.

South Korea’s digital nomad visa became available as of Jan. 1 for remote workers who earn a minimum US$65,000 annual salary to stay for up to two years. Jacada Travel recommends visiting during March and April for cherry blossoms that rival Japan’s, or in autumn for stunning fall colors. New museum openings expected in 2024 include a Seoul Robot and Artificial Intelligence Museum and one dedicated to the late Korean artist Park Seo-Bo.

By the numbers:

In December 2021, US$1 = 1,188 South Korean won

In December 2023, US$1 = 1,299 South Korean won

A tasting menu at Born & Bred in Busan costs from 148,600 South Korean won. In 2021, that was US$125 … now it costs US$113.

Bottom line: 9.6% less expensive

©2024 Bloomberg L.P.

Top 5 travel destinations where your dollar will go furthest (2024)

FAQs

Where will my US dollar go the furthest? ›

Japan continues to be a popular choice, but Vietnam and South Korea stand as solid alternatives among numerous countries in Asia with favorable exchange rates for the US dollar. Closely following in value are South American countries: Argentina and Chile are among those offering the biggest luxury bang.

What country can I get the most for my dollar? ›

Here's a deep dive into the top 10 countries where your dollar will stretch the farthest in 2024:
  1. Vietnam. The Vietnamese dong has traditionally had a favorable exchange rate for American tourists. ...
  2. Mexico. The peso's comparative value often means more bang for your buck. ...
  3. India. ...
  4. Ukraine. ...
  5. Indonesia. ...
  6. Colombia. ...
  7. Nepal. ...
  8. Philippines.
Oct 11, 2023

Where is the US dollar strongest right now? ›

Best Places to Visit Where the Dollar Is Strong
  • Peru. Peru/Peruvian Sol. ...
  • Mexico. Mexico/Mexican Peso. ...
  • South Africa. South Africa/South African Rand. ...
  • South Korea. South Korea/South Korean Won. ...
  • Japan. Japan/Japanese Yen. ...
  • Argentina. Argentina/Argentine Peso. ...
  • Hungary. Hungary/Hungarian Forint. ...
  • Chile. Chile/Chilean Peso.

Where are US dollars worth the most? ›

Some of the countries where a dollar is worth the most money include Mexico, Peru, Chile, and Colombia. It's possible to exchange dollars for local currency in these countries at favorable exchange rates.

What is the cheapest vacation destination? ›

Leading the list as the cheapest place to travel right now is Hoi An, Vietnam. According to the Post Office report, a total estimated cost of just $64.51 a day for the travel essentials makes this charming gem the ultimate bang-for-your-buck destination that won't break the bank.

What is the cheapest country to travel to? ›

The 10 Cheapest Countries to Visit
  • Thailand. Average daily cost: $84.
  • Hungary. Average daily cost: $87. ...
  • Costa Rica. Average daily cost: $118. ...
  • Mexico. Average daily cost: $128. ...
  • Dominican Republic. Average daily cost: $131. ...
  • Turkey. Average daily cost: $141. ...
  • Portugal. Average daily cost: $149. ...
  • Greece. Average daily cost: $170. ...

How far does $1 go in Argentina? ›

1 USD = 876.505483 ARS May 06, 2024 04:17 UTC

Check the currency rates against all the world currencies here. The currency converter below is easy to use and the currency rates are updated frequently.

What country is the cheapest from US dollars? ›

  • Thailand. #1 in Affordable. #29 in Best Countries Overall. ...
  • Vietnam. #2 in Affordable. #44 in Best Countries Overall. ...
  • Philippines. #3 in Affordable. #43 in Best Countries Overall. ...
  • Indonesia. #4 in Affordable. ...
  • India. #5 in Affordable. ...
  • Malaysia. #6 in Affordable. ...
  • Turkey. #7 in Affordable. ...
  • China. #8 in Affordable.

How far does the US dollar go in Japan? ›

As it currently stands, 1 USD equals just about 109 JPY (Japanese Yen). These figures can change, so it is a good idea to frequently visit a currency exchange website to know how far your dollar will go in Japan. Mobile apps for traveling to Japan can also be invaluable in making your trip an enjoyable experience.

How much is 1 dollar in Mexico? ›

1 USD = 16.9724 MXN May 05, 2024 10:44 UTC

The currency converter below is easy to use and the currency rates are updated frequently.

Is the dollar strong in Mexico right now? ›

Basic Info. US Dollar to Mexican Peso Exchange Rate is at a current level of 16.95, up from 16.94 the previous market day and down from 17.90 one year ago. This is a change of 0.07% from the previous market day and -5.31% from one year ago.

What is the most stable currency in the world? ›

The Swiss franc (CHF) is generally considered to be the safest currency in the world and many investors consider it to be a safe-haven asset. This is due to the neutrality of the Swiss nation, along with its strong monetary policies and low debt levels.

Where does the US dollar go the furthest in 2024? ›

Japan. Some countries are constantly among the thriftiest places to travel for Americans, but we've never even thought about Japan before… Right now, the U.S. dollar is extremely strong in Japan, making some of the best food and drinks in the world mind-bendingly cheap for U.S. travelers.

How much is $1000 US dollars in Thailand? ›

US Dollars to Thai Baht conversion rates
USDTHB
1,000 USD36,536.56 THB
5,000 USD182,682.81 THB
10,000 USD365,365.62 THB
50,000 USD1,826,828.12 THB
7 more rows

How much is 100 US in Mexico? ›

US Dollars to Mexican Pesos conversion rates
USDMXN
100 USD1,693.45 MXN
500 USD8,467.25 MXN
1,000 USD16,934.50 MXN
5,000 USD84,672.50 MXN
7 more rows

How far does the U.S. dollar go in Japan? ›

As it currently stands, 1 USD equals just about 109 JPY (Japanese Yen). These figures can change, so it is a good idea to frequently visit a currency exchange website to know how far your dollar will go in Japan. Mobile apps for traveling to Japan can also be invaluable in making your trip an enjoyable experience.

Where is the U.S. dollar worth the least? ›

#1 – Iranian Rial (~514,000 IRR/USD)

Iranian rial rates: 1 USD = ~514,000 IRR (US dollar to Iranian rial – black market rate). 1 USD = 42,226 IRR (US dollar to Iranian rial – official rate). 1 EUR = ~561,000 IRR (Euro to Iranian rial – black market rate).

How far does USD go in Colombia? ›

In early 2020, one U.S. dollar was the equivalent of COP$4,000. Most banks in Colombia do not exchange money. For that, you'll have to go to a money exchange, located in all major cities.

Top Articles
Latest Posts
Article information

Author: Sen. Emmett Berge

Last Updated:

Views: 6062

Rating: 5 / 5 (80 voted)

Reviews: 87% of readers found this page helpful

Author information

Name: Sen. Emmett Berge

Birthday: 1993-06-17

Address: 787 Elvis Divide, Port Brice, OH 24507-6802

Phone: +9779049645255

Job: Senior Healthcare Specialist

Hobby: Cycling, Model building, Kitesurfing, Origami, Lapidary, Dance, Basketball

Introduction: My name is Sen. Emmett Berge, I am a funny, vast, charming, courageous, enthusiastic, jolly, famous person who loves writing and wants to share my knowledge and understanding with you.