While much of the international economic news over the past few months offers little cause for cheer, the little noticed story is that Bali remains an island offering unparalleled value to travelers who purchase their travel in Pounds, Euros, Yens, Australian dollars and the Yankee dollar!
Bali, A Dollar Based Travel Product
Due to a unique peculiarity of Indonesian economic policy that renders the Rupiah technically "non-exportable" - virtually all hotels, villas, attractions, and tours sold operating in Bali are denominated in U.S. dollars. Contracts with Bali travel operators are almost universally written in dollars, a fact reflected in the fact that travel sites from Bali are generally quoted in dollars.
As an unexpected "benefit" of the failing fortunes of the U.S. dollar, Bali's place as an affordable destination for dollar earners and a real bargain for a whole host of other currencies has been preserved.
Consider the following:
• U.S. Dollars - Prices for Bali travel products continue to be priced in dollars, increasing only slightly despite the overall improved business climate on Bali, but remaining relatively stable overall against the U.S. dollar. Conclusion: Americans traveling across the Pacific will continue to find Bali an amicable value-for-dollar destination.
• Euros - With the Euro currently trading at record highs of US$1.537 against one U.S. Dollar, the Euro has appreciated against the dollar by almost +40% since January 2004. The same reason that sees Europeans flying across the Atlantic to do their shopping in the U.S.A., should also see Europeans coming to Bali for their next holiday.
• Great Britain Pounds - It currently takes slightly more than US$2.00 to purchase a British quid. This is a +25.63% increase in the value of the Pound since January 2004. It's also a tangible bonus for U.K. travelers destined for Bali and paying for their travel in U.S. Dollars.
• Australian Dollars - Plagued for many years with a weak Australian dollar that made Bali one of the few affordable overseas holiday destinations, antipodean travelers have seen their currency improve a whopping +54.9% against the U.S. dollar since January 2004. With the Australian dollar trading at AU$0.9296 to one U.S. dollars and buying around Rp. 8,436 – Bali has become even more affordable to its near neighbors from Down Under.
• Japanese Yen - Similarly, the Japanese Yen is currently trading at +16.39% more than it did in January 2004 with ¥102 buying one U.S. dollar. Japan retains its role as Bali's leading overseas market, a dominance likely to only improve as people with a "¥en" to travel take advantage of their buying power in Bali.
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