A stronger dollar means it’s more affordable for American tourists to travel abroad. Vietnam is in the group of 10 favorable countries that Americans should visit at this time, according to the American newspaper FinanceBuzz.
When spending money abroad, visitors must exchange their own currency into the currency of their destination country. All currencies are quoted in pairs. For example, 1 euro at this time is valued at 22,789 VND, which means that Vietnamese tourists going to Europe want to buy 1 euro must have that much Vietnamese currency. However, 1 year ago, to buy 1 euro you had to spend about 27,000 VND. Therefore, if you are traveling in Spain and buying ice cream in Barcelona for 1 euro with the same quality as a year ago, but “save” 5,000 VND.
The destination in Vietnam is considered suitable for all types of visitors, from high-end to affordable
Similarly, a stronger USD means that Vietnamese tourists going to the US are more expensive, but on the contrary, American tourists to Vietnam spend cheaper when with 1 USD as before you can buy more. Here are the countries American tourists can travel to “save” during this time.
“Vietnam is known for its great cuisine, deep culture, beautiful scenery and mild climate. That’s why Vietnam is always visited by tourists from all over the world, including those young people and retirees. The country is also known for its low crime rate and peaceful life,” the newspaper commented. The currency of Vietnam is the dong and it takes 24,290 dong to buy 1 USD.
With everything from 5-star hotels to economy-class accommodations, travel in Vietnam can accommodate all different budget travelers. The cuisine of this destination is also famously delicious and cheap. Therefore, FinanceBuzz advises American tourists to travel to Vietnam.
The strengthening of the USD and the weakening of the euro also help American tourists to Europe more smoothly. The three European destinations featured on the list are Portugal, Spain and Hungary. Portugal has a low cost of living and basic goods are less expensive than in the US. And Hungary, which has many wonderful landscapes and the capital Budapest is among the most beautiful cities in Europe, has lower food and hotel prices than Northern and Western European countries. That is also the reason for American tourists to come to these countries.
The rest of the countries on the list include Tunisia, Peru, South Africa, Mexico, Egypt and Bangladesh.
Ho Chi Minh City is a dynamic destination with many nightlife activities and cheaper costs than other cities in the region.
Meanwhile, according to Fortune, the top destinations for American tourists are places where the USD appreciates against the local currency. According to data from US Customs and Border Protection (CBP), more Americans come to Canada, Mexico and Europe than in 2019 (before the epidemic). American tourists are also likely to go to Asia in greater numbers. In these areas, the USD is “more valuable” than the local currency compared to a year ago, so American tourists want to take advantage of that.
A stronger USD is forecasted to lead to a boom in American tourists in many countries. According to Allianz Partners, travel from the US to Europe will increase by 600% this year compared to 2021. However, many experts warn, inflation in countries that push up commodity prices also erodes part of the favorable exchange rate difference when you shop and eat there. In addition, travel costs also increased compared to previous years, especially airfares and ground transportation.
@ Thanh Nien
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Source: Vietnam Insider