And Time magazine’s latest story on “10 amazing Asian vacations that won’t cost a fortune” goes to prove this once again.

It says: “Penang Island’s diverse attractions – white sandy beaches, large resorts, quiet fishing villages, and a bustling urban center – are a steal right now.”

Quoting Hotels.com it says hotel room rates are down 10% year over year, averaging US$80 a night. Airfare, it says, has plummeted even further, dipping 16% year over year to US$916 per roundtrip from the US.

It says: “Most tourists will find themselves in George Town, Malaysia’s second-largest city and a Unesco World Heritage Site with a jumbled mix of temples, mosques, and colonial buildings.

“The city is also home to some of the best food in Southeast Asia: Try it for yourself at the LG Baru or New Lane Hawker Stalls, where you can sample the char koay kak, a fried dish of rice cakes, egg, and pickled vegetables. Most dishes will set you back only about a dollar. “

After listing some of the places worth visiting, the Time report suggests that the traveller head to some of the island’s nicest and quietest beaches.

The report says Time went through various countries in Asia to come up with the list to give travellers an indication of which amazing places will stretch their dollars more.

The report says this is one of the best regions to visit for those looking to get the most for their “travel dollars”.

Topping the list is Xi’an in China. It says much of Xi’an is a time capsule that is both truly ancient and well-preserved and is, therefore, worth a visit.

In second place is Chiang Mai, Thailand with Hoi An, Vietnam, taking third spot.

Others on the list are: Taipei, Taiwan (4), Siem Reap, Cambodia (5), Kathmandu, Nepal (6), Bali, Indonesia (7), Chennai, India (8) and Luang Prabang, Laos (9).