PENANG has emerged to be an affordable place for UK travellers, ranking at 11th place in the latest Holiday Money Report from Post Office Travel Money.

The Worldwide Holiday Costs Barometer ranks the top 15 best valued cities based on total estimated weekly costs for meals, drinks and other tourist items, providing the best value in the year ahead for tourists from the UK.

With a total cost of only £74.57 (RM444.96) per week, this puts Penang comfortably ahead of popular tourist spot Phuket, Thailand and not far behind capital city Tokyo, Japan in overall affordability for 2024.

While the Vietnamese town of Hoi An takes the first spot at just £51.18, other well-known Asian destinations such as Tokyo at 4th place (£59.05 or RM352.35), Bali’s Kuta at 8th (£63.31 or RM377.77) and Phuket, Thailand at 12th (£77.77 or RM464.06).

Its barometer, which compares expenses across 40 global resorts and cities, also found that 90% of Post Office’s top traded foreign currencies are currently weaker against the pound sterling compared to 12 months ago.

This increased purchasing power means prices have fallen in many popular destinations once converted to local currencies from the British pound.

While local costs rose year-over-year in 4 out of 5 surveyed destinations, the strong pound means UK travellers can expect to pay less in 2024 than 2023 at 19 long-haul spots and six European ones. In total, 25 of the 40 destinations offer lower pricing than last year.

With the pound packing purchasing power, this year’s report indicates British travellers have an array of wallet-friendly long-haul options, including the newly emerged hotspot Penang.

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