Planning a year-end holiday abroad? Consider these countries with favourable exchange rates

Jakarta, 2 December 2024 - For last-minute planners hoping to travel abroad this Christmas and New Year, peak-season flight and accommodation prices can be daunting. However, travelers can still find ways to stretch their budgets further this festive season by choosing destinations that offer favourable exchange rates. 

“When planning an overseas trip, one crucial factor that often gets overlooked is the impact of exchange rate fluctuations on your overall budget. Seemingly small differences in exchange rate value can add up significantly, especially when you make large purchases,” said Elian Ciptono, Head of SEA Expansion and Country Manager for Wise Indonesia. 

To help Indonesian travellers get more value from their money, Wise has analysed the exchange rate trends over the past year to see how IDR has performed against various currencies, especially compared to the same period last year. Based on this analysis, Wise has put together a list of destinations, along with their exchange rates and average living costs. 

1. Vietnam 

1 Vietnamese Dong is currently buying at ≈ Rp0.62 (at the time of writing). You can budget around 150,000 VND (Rp93,000) for meals at a restaurant, and approximately 16,000 VND (Rp10,000) for a round trip ticket of using public transportation — comparable to Indonesia.

Vietnam offers rich cultural and natural experiences, from the UNESCO heritage site Ha Long Bay to the historic streets of Hoi An and the vibrant energy of Ho Chi Minh City. Don’t forget to try authentic Pho and Bahn Mi!

2. South Korea 

The Rupiah has strengthened against the South Korean Won this past year, with 1 KRW now buying at ≈ Rp11.3. While living costs remain higher than in Indonesia, the weaker Won has made travel more affordable. You can budget around 30,000 KRW (Rp339,000) per day, and around 3,000 KRW (Rp34,000) for a round trip ticket using public transportation.

This is the perfect time for Indonesian travellers to indulge in K-pop merchandise and K-beauty products while enjoying South Korea’s winter charm, such as snow hiking in Bukhansan National Park or skiing in the country’s mountain resorts.

3. Japan

Japan continues to be a favourite destination for Indonesian tourists, especially with the Yen weakening this past year (1 JPY ≈ Rp102). While living costs are higher, the favourable exchange rate helps reduce expenses. You can budget around 3,000 JPY (Rp306,000) per day for meals, and about 4400 JPY (Rp44,000) for a roundtrip ticket using public transportation.

Travellers can explore Japan’s vast shopping scene as well as cultural landmarks like Fushimi Inari Shrine in Kyoto and the dynamic metropolitan scene in Tokyo.

4. The Philippines 

The Philippine Peso has remained stable against the Rupiah this past year (1 PHP ≈ Rp270). Living costs are comparable to Indonesia, with meals costing about 630 PHP (Rp170.100) and public transportation around 30 PHP (Rp8.000).

The Philippines offers breathtaking natural landscapes like El Nido and Boracay, as well as historical sites like Intramuros in Manila, making it a must-visit destination this holiday season.

 Tips to Help Indonesian Tourists stretch their savings While Travelling Abroad:

Use regional transportation passes for tourists

If you plan to travel to multiple cities within the country, South Korea offers the Korea Rail Pass, which is offered exclusively for tourists. These passes allow unlimited travel on nearly all train routes operated by Korail during a fixed period. In Vietnam, consider the Open Bus Ticket, which lets you hop on and off at various cities along a fixed route, offering flexibility and cost savings.

Rely on friends and family abroad 

If you have friends or families living in your destination country, staying with them can significantly reduce cost. They can guide you to budget-friendly, non-touristy food spots and attractions. Additionally, consider sending money to their local account using platforms like Wise, which offer low-cost transfers and favourable exchange rates. Your family or friends can then  withdraw the money locally to avoid high foreign transaction fees and unfavourable money changer rates.

Find deals on platforms like Traveloka, Klook, Trazy, and local deal sites

Platforms like Klook (Asia), Trazy (Korea), and Traveloka offer discounted tickets for attractions, tours, and transportation. These deals often cost less than on-site purchases and sometimes include exclusive offers, helping you save more during your travels.

Take advantage of loyalty programs 

If you haven’t signed up for free loyalty programs, now is the time to start. Many airlines, hotels, and even some restaurants offer loyalty programs that reward you with points on your spending, which can be redeemed for discounts or upgrades. Members often enjoy  perks such as free Wi-Fi, late check-outs, complimentary drinks or free room or seat upgrades. Accumulate loyalty points over time to reduce your expenses on flight tickets and hotels, especially during peak seasons. 

Methodology 

Wise looked into the average exchange rate trends (seen on Wise) over the past year to determine whether the IDR has strengthened against the destination country's currency, particularly during the same period last year. Data on average living costs is sourced from Numbeo.com.