GEORGE TOWN: Penang is ranked as the 11th best-value destination in the 2024 edition of the Holiday Money Report.
The Pearl of the Orient came ahead of Phuket in Thailand, Delhi in India, Costa del Sol in Spain and Montego Bay in Jamaica.
Top on the list was Hoi An in Vietnam, followed by Cape Town in South Africa, Mombasa in Kenya, Tokyo in Japan, Algarve in Portugal, Sharm el-Sheikh in Egypt, Sunny Beach in Bulgaria, Kuta in Bali, Marmaris in Turkiye and Paphos in Cyprus.
The report was by Post Office Ltd, the biggest retailer in the United Kingdom (UK).
The Worldwide Holiday Costs Barometer, published in the report, found prices for meals, drinks and tourist items had fallen since last year in 25 of the 40 resorts and cities surveyed.
Eight items — a three-course meal for two with wine, a cup of coffee, a bottle of local beer, a can of cola, a glass of wine, a bottle of still water, sun cream and insect repellent — were selected as representative of the purchases UK tourists are likely to make and prices were cross-checked by Post Office researchers.
Penang stands out with a total weekly cost of just £74.57.
The 18th annual Post Office Travel Money Holiday Money Report revealed 90 per cent of the bestselling currencies were currently weaker against sterling than a year ago, which meant that price falls in many of the world's most popular destinations, especially long-haul resorts and cities.
Last week, Penang was named among the 10 best islands in Asia, alongside Langkawi.
DestinAsian's 17th annual Readers' Choice Awards 2024 placed the two at No. 8 and No. 7, respectively.
DestinAsian is a travel and lifestyle magazine focusing on the Asia-Pacific region.