With overseas travel spending by Singaporeans hitting record highs in December and January according to Visa, there’s no denying that Singaporeans enjoy travelling overseas for holidays.
Supported by the most powerful passport in the world, the strong Singapore dollar has added to the appeal of visiting traditionally popular travel destinations.
While a stronger Singapore dollar makes overseas purchases cheaper, the high cost of living here makes travelling feel more affordable too.
One informal method of knowing just how much cheaper a potential travel destination may be is by comparing the average price of a common and almost universal product, such as the McDonald’s Big Mac.
The price of a Big Mac in Singapore is 6.95 SGD, and the following destinations all sell it at a lower price.
| Destination | Exchange Rate | How Much A Big Mac Costs | Difference Against The SGD |
| Taiwan | 1 SGD = 24.69 TWD | 78 TWD = 3.15 SGD | 54.55% |
| Indonesia | 1 SGD = 12,343 IDR | 41,000 IDR = 3.32 | 52.21% |
| Vietnam | 1 SGD = 19,098 VND | 76,000 VND = 3.98 SGD | 42.75% |
| Japan | 1 SGD = 111.31 JPY | 480 JPY = 4.31 SGD | 37.95% |
| China | 1 SGD = 5.45 CNY | 25.50 CNY = 4.68 SGD | 32.63% |
| South Korea | 1 SGD = 1,088 KRW | 5500 KRW = 5.05 SGD | 27.31% |
| Australia | 1 SGD = 1.19 AUD | 7.75 AUD = 6.50 SGD | 6.50% |
All exchange rate data in the article are obtained from Morningstar via Google and is correct as of 12 March 2025. Data for the Big Mac Index obtained from The Economist.
#1 Taiwan
| Exchange Rate | Big Mac Cost | Difference |
| 1 SGD = 24.69 TWD | 78 TWD = 3.15 SGD | 54.55% |
Well-loved for its street food, Taiwan is the place to go if you want cheap eats and a bustling night market experience. And, there’s no surprise that 447,841 Singaporeans visited Taiwan last year, a welcome return to pre-pandemic levels.
The combination of lower-cost food and a strong SGD/TWD exchange rate, which rose 4.8% in our favour in the past year, make Taiwan a very compelling destination for Singaporeans.
#2 Indonesia
| Exchange Rate 2025 | Big Mac Cost | Difference |
| 1 SGD = 12,343 IDR | 41,000 IDR = 3.32 SGD | 52.21% |
Whether you’re headed to the paradise island resorts of Bali, nearby Bintan or Batam, or the iconic temples of Borobodur just outside the city of Yogyakarta, there’s an endless number of new experiences you can have in Indonesia.
Agreeing with this sentiment, over 1.4 million Singaporeans visited Indonesia last year, with most travellers arriving in June and December.
In the past one year, the SGD/IDR exchange rate has improved 5.6% – making a potential trip to Indonesia even more affordable this year.
#3 Vietnam
| Exchange Rate | Big Mac Cost | Difference |
| 1 SGD = 19,098 VND | 76,000 VND = 3.98 SGD | 42.75% |
Vietnam has a little bit of everything. Tour the Mekong River or enjoy a cruise vacation at the UNESCO World Heritage Site Ha Long Bay. Spend a few days in Hanoi to visit iconic landmarks like the Old Quarter and French Quarter. Savour the street food and discover the remnants of the Chu Chi tunnels from the Vietnam War in Ho Chi Minh. Or take a relaxing beach getaway in Danang.
347,495 Singaporeans visited Vietnam last year, a 5.9% increase from the year before.
With the excellent exchange rate, improving 3.2% in favour of the SGD, it’s not surprising that more and more Singaporeans are including Vietnam in their travel plans this year.
#4 Japan
| Exchange Rate | Big Mac Cost | Difference |
| 1 SGD = 111.31 JPY | 480 JPY = 4.31 SGD | 37.95% |
Japan has always been a popular travel destination for Singaporeans for many reasons, from their excellent food quality to their picturesque cultural and historical landmarks, to their long dominance in pop culture.
The Japan National Tourism Organisation Singapore Office announced that a record-breaking milestone of 691,100 Singaporeans visited Japan in 2024, breaking the previous record of 591,300 visitors, set in 2023. And, we will not be surprised if 2025 breaks the record again.
When the Singapore dollar strengthened past the 100 JPY mark in 2023, a psychological barrier was broken and Singaporeans started visiting Japan in numbers eclipsing pre-COVID levels. While the Singapore Dollar has hardly improved against the JPY in the past year, it is up 45.9% in the past 5 years.
#5 China
| Exchange Rate | Big Mac Cost | Difference |
| 1 SGD = 5.45 CNY | 25.50 CNY = 4.68 SGD | 32.63% |
Now that we no longer need a visa to visit China for up to 30 days, it’s easier than ever to visit the major cities of Shanghai, Beijing and Guangzhou. Just remember to download and set up apps like Baidu Maps and WeChat Pay to help you get around. Or go with a tour group for the added convenience.
China hasn’t provided any new tourism statistics since the COVID pandemic, but it’s safe guess that we’re back to pre-pandemic levels, when over 1 million Singaporeans visited China.
In the past year, the SGD has risen about 2.2% against the CNY, making it more attractive to visit the country this year.
Read Also: YouTrip Card Vs Regular Credit Card: How Much Can You Save When Spending Overseas?
#6 South Korea
| Exchange Rate | Big Mac Cost | Difference |
| 1 SGD = 1,088 KRW | 5500 KRW = 5.05 SGD | 27.31% |
K-dramas and K-pop have flooded our cultural zeitgeist for over 20 years and show no signs of slowing down. After seeing these locations on their screens, it’s hardly a surprise that Singaporeans are heading to Seoul, Busan and Jeju in droves to experience the real deal.
375,428 Singaporeans visited South Korea in 2024, the highest number of visitors in recent memory.
Making it an even more attractive travel destination in 2025, is that the South Korean Won has depreciated 10.5% in the past year, and over 27.3% in the past 5 years.
#7 Australia
| Exchange Rate | Big Mac Cost | Difference |
| 1 SGD = 1.19 AUD | 7.75 AUD = 6.50 SGD | 6.50% |
While the cost of living is relatively high in Australia, the cost of a Big Mac is 6.5% cheaper. So, visiting Australia may still feel relatively affordable, though we should not expect the prices of food, accommodation or tourist attractions to be cheap.
Underlining the fact that Australia is a popular destination for Singaporeans, 417,900 of us visited last year, 15% more than the year before.
While the SGD has 4.8% in the past year, the Singapore dollar has strengthened considerably against the Australian dollar over the past two decades – nearly 50%. For those keeping track, the AUD was stronger than the SGD in 2005 (1 SGD = 0.7876 AUD).
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