Wednesday, September 25, 2024 The strengthening of the Thai baht to its highest level in five years has significantly impacted travel costs, making Thailand an increasingly expensive destination compared to its neighbors like Vietnam, Laos, and even Japan. The strong currency has pushed up travel expenses, especially for foreign tourists whose own currencies have depreciated against the baht. The Malaysian ringgit has surged 6% against the Singapore dollar, marking its best quarter in 50 years.
Travelers can expect higher costs when visiting Malaysia due to the stronger currency. This rally is driven by economic growth, trade improvements, and foreign investments. Future currency movements may depend on Malaysia’s budget announcements and subsidy reforms.
Travelers visiting Malaysia may experience higher prices for accommodation, dining, and shopping due to the ringgit’s strength. This could affect travel budgets, making trips to Malaysia more expensive compared to previous years. Anup Keshan, the founder of Travel And Tour World , commented on the rising costs of traveling to Thailand, stating, “Thailand has become a costly affair; it’s no longer a budget-friendly destination.
” He highlighted that “tour and hotel prices have become the most expensive in five years,” attributing the sharp increase to currency appreciation. Keshan further explained that the “rising tourism sector has also fueled the surge in the Thai currency,” making travel more expensive fo.
