5 Luxury Destinations Global Events Made Unexpectedly Cheap

Finding undervalued opportunities isn't just for investing.

Keeping an eye on global economic trends can uncover hidden gems, allowing you to travel for a fraction of the cost. In many places around the world (including many luxury travel hot spots), global events have driven down prices, creating good opportunities for savvy travelers.

For example, flying to some luxury spots has become much cheaper due to expanding airline routes and the revival of ultra long-haul flights.¹

Favorable exchange rates, weather events, and changing political climates have made the cost of traveling to some of the world's top destinations unexpectedly more affordable.

So, brush off your bucket list and check out this list of undervalued luxury vacation spots that are often overlooked.

While all of this can mean fewer crowds when you get there, it can also mean you have more money to splurge on extras and enjoy a truly next-level experience.

Global Events Made These 5 Destinations Unexpectedly Good Deals

One

Luxury Splurge

Get away from the crowds and take a half-day private cruise that comes with a snorkeling adventure and a picnic on a private beach.

Turks & Caicos

Lovely year-round weather and crystal-clear water are just a few of the things that make Turks and Caicos an amazing destination for beach lovers.

Why is it on our list?

Hurricanes Harvey and Irma hit the low-lying islands of the archipelago hard, causing many luxury resorts to slash prices to lure tourists back.²

Two

Luxury Splurge

Stay a couple of nights at an upscale hotel that overlooks Niagara Falls and enjoy a fine meal at the Skylon Tower, the rotating restaurant overlooking the Falls.

Canada

Canada's unique cosmopolitan cities and jaw-dropping landscapes offer everything from history and culture to charm, adventure, and natural wonder.

Why is it on our list?

The Canadian dollar has lost value for a number of reasons, such as fluctuating oil prices and the demise of the previous NAFTA deal, making our northern neighbor a good deal for Americans.^3,4

Three

Luxury Splurge

Get away from the crowds and skip the lines with a private tour of the Batu Caves. Packages include visits to an elephant sanctuary, waterfalls, and hot springs.

Malaysia

This diverse nation (a melting pot of Malay, Chinese, Indian, and European influences) is home to breathtaking natural wonders, ancient ruins, tropical rainforests, and world-class cuisine.

Why is it on our list?

Malaysia's export-driven economy has struggled with worldwide trade uncertainties, causing the currency to fall against the dollar, and making this melting pot a great deal for Americans.⁵

Four

Luxury Splurge

Take a trip within your trip by planning one—or a few—day trips. You could take a rainforest tour or visit the Arenal Volcano and the Tabacón Hot Springs.

Costa Rica

From its volcanoes and rainforests to its perfect weather, stunning beaches, and unique culture, Costa Rica offers plenty to do, see, and experience for travelers of all ages.

Why is it on our list?

The dollar is incredibly strong in Costa Rica, largely due to factors like currency problems, tax reforms, and government worker strikes.⁶ These factors have significantly depressed the value of the colón. To take maximum advantage of this devaluation, pay for as many things in local currency as possible (as opposed to paying in dollars).

Five

Luxury Splurge

Indulge in a bespoke luxury safari adventure! Enjoy an up-close encounter with lions and leopards, sample fine vintage wines, and even stay in an upscale "camp" under the stars.

South Africa

From its glittering seas to its breathtaking mountains, South Africa is home to many wonders. Whether you love wildlife and adventure, or luxury and world-class wines, a South African vacation can be as awe-inspiring as it is lavish.

Why is it on our list?

That's because high unemployment rates, coupled with weak economic growth since the 2008 global financial crisis, have caused the South African Rand to be undervalued for Americans.⁷

"Sometimes, the same events that cause market volatility and disruptions can offer opportunities in other aspects of your life."

Financial Lesson Undervalued Destinations Can Enrich Your Travels

When it comes to getting a great deal on a luxury trip, a little bit of legwork can go a long way. In fact, beyond global events and exchange rates, there's a lot more you can look for when you're on the hunt for hidden travel gems.

Anything from local political scandals to new resort developments can trigger better deals on high-end traveling. So can off-season travel.

The key is to keep your eyes open for opportunities.

Remember, there can be a lot of unexpected value when you look off the beaten path. Sometimes, the same events that cause market volatility can offer opportunities in other aspects of your life. And, sometimes, travel can present the opportunity for incredible deals and unexpected value—leading to spectacular experiences and memories.

If you're looking for more ways to discover hidden travel gems or stretch your dollar at home or abroad, please reach out to me. I'd be happy to chat with you and share some helpful advice. Give my office a call at (816) 287-4780 or shoot me an email at clint.haynes@nextgen-wealth.com.

Clint Haynes, CFP® NextGen Wealth

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