As NerdWallet’s latest Travel Price Index has shown us, the cost of travel is up 10% compared to 2019, the pre-crisis reference year:
It may not sound particularly significant, but it only takes a short trip across the pond, or even down to South America, to realize your dollars will not take you as far as they did four or five years ago.
Perhaps unsurprisingly, people have started looking to Asia for budget-friendly getaways.
The cost of living across most Asian countries is far lower than in the United States or Europe, and broadly speaking; the dollar is still raging against most local currencies.
It’s no wonder that this year, the destination offering the best value for money is a laid-back, ancient town in Vietnam, where meals can cost as cheap as $1.48, and a can of domestic beer is under a dollar.
Welcome To Hoi An
The 2024 results of the Post Office UK’s Holiday Money Report are finally in, and out of all long-haul destinations included in the study, Hoi An in Vietnam has been named the best value one.
It’s the first time Vietnam has led the list with any city, and it’s up from number six in 2023. The reason for that?
Hoi An is one of only eight destinations where both local prices are lower (down a further 14.4%), and the currency value’s been on a downward trend.
Interestingly, Hoi An is one of the most sought-after destinations in Vietnam, with a booming backpacking and digital nomad scene, but unlike other tried-and-true vacation hotspots across Asia, like Bali, gentrification is yet to take its toll.
As the Bali Sun reported, authorities in the Indonesian island said increasing prices are part of a ‘natural selection’ for wealthy tourists.
Though big spenders are certainly welcome in Hoi An, and there are a fair few luxury listings and upscale restaurants to choose from, the usual clientele of budget solo travelers and backpackers has not been shunned just yet.
Lucky for them, Hoi An is one of the best-preserved historic settlements in all of Vietnam:
What Makes Hoi An So Special?
Located a few miles inland from the country’s central coast, it is characterized by its maze of distinctly yellow buildings and ornate temples, cut through with winding canals that empty into the scenic Thu Bon River.
Since its founding as a trading port in the 16th century, Hoi An has been influenced by several successive empires, from the Chinese to the Japanese to the French, and its eclectic architecture reflects each of the well-defined periods.
For instance, one of the most striking monuments in town is the Japanese Covered Bridge, topped with a pagoda, yet a short 5-minute walk from it, there’s the monumental Phu Kien Assembly Hall, a temple dedicated to the Chinese God of War built by Cantonese migrants.
All around town, however, amid the beautiful oriental shrines, you’ll find a high concentration of European-inspired buildings built during the time most of Vietnam was administered by the once-powerful French Empire.
According to leading local news source Hoi An Travel, there are over 800 preserved buildings and heritage sites in town, which has certainly contributed to Hoi An’s induction into UNESCO’s selected list of World Heritage Sites.
Other than the obvious architectural value, Hoi An is popular for its basket boats and mouth-watering street food:
How Much Does A Trip To Hoi An Cost?
If you’re looking for a truly unique way to spend your evening, this GetYourGuide-listed Evening Food Tour includes as many as 7 tastings, a boat trip down the river and a lantern release, for only USD $36.
Basket boat tours leaving from Hoi An are even cheaper to book, starting from only USD $6––just make sure you hold the edges of your seat tightly when the boat conductor starts with the spinning.
Wondering how much exactly a one-week trip to Hoi An costs?
According to an estimate provided by Budget Your Trip, which takes into account travel expenses reported by members of the platform, $318 or the equivalent in Vietnamese dong (the local currency), is the weekly average.
It all depends on your traveling style and the level of comfort you seek, but those traveling on a limited budget, they can spend as little as $9.80 on meals per day (around VND $249,112), $19 on local transportation, and $41 per night on hotels.
This summer, an overnight stay at the three-star White House Central Villa in downtown Hoi An will only set you back by $37 per night, and it goes as cheap as $25 at the Hoi An Center Town Hotel.
Even if you have the means to splurge a little––let’s face it, most Westerners do as prices in Vietnam truly are remarkably low for them––then you could consider booking the luxurious, boutique Allegro Hoi An Hotel & Spa for $112 a night.
It is equipped with an outdoor swimming pool, spa facilities, and concierge service, and it is near all the major landmarks in Old Town.
As for food, once you feel you’ve had enough of those curbside, made-on-the-spot pho and half-dollar batch of paper rice rolls, make sure you check out HOME Hoi An, a more upscale (yet still casual) eatery some two streets down from the bustling waterfront.
They serve delicious local delicacies, including spicy prawn and seafood stir-fry and freshly squeezed dragonfruit juice.
It’s definitely on the pricier end, with some of the main dishes costing USD $30, but the airy ambiance, English-speaking staff, and high-quality food surely make up for it.