Taiwan Will Pay Some Tourists to Visit. Should You Book a Trip?

Some travelers heading overseas to Taiwan may get some extra spending money.

While traveling the world can be fun, it's essential to consider the cost before booking a trip. Figuring out how much you can afford to spend and outlining a vacation budget is an excellent way to avoid overspending while exploring the world. Taiwan recently announced a new initiative to boost tourism. The country will pay some international tourists to visit. For those who receive these extra funds, it could be a great way to make their trip more affordable.

Taiwan wants to attract more international travelers

Taiwan is hoping to welcome more tourists this year. The government hopes to attract 6 million tourists in 2023 and is aiming for 10 million tourists by 2025. As reported by CNN, the country will pay some travelers who visit. Cash rewards will be offered to individuals after they arrive. Each tourist receiving money will get NT$5,000, or about $165.

However, not every international tourist will be paid. According to a Taipei Times article, tourism board bureau Director-General Chang Shi-chung said in a recent news conference, "The money will be given out through multiple tourism promotion events this year, rather than giving it all out at once." He continued, "As such, not all international tourists would receive it."

Tourists will be given an electronic ticket loaded with funds, which can be used to pay for food, accommodation, and other travel expenses while in Taiwan. These funds may go further than you think. Many non-luxury hotels in Taipei cost well under $100 per night. Other travel expenses like food, drinks, and activities are very affordable.

Should you book a trip to Taiwan?

While this is an excellent incentive, it's important to remember that not all tourists will receive cash. It's likely not worth it to book a trip to Taiwan just because of this cash incentive. However, if you're already planning to visit or have been meaning to book a trip to Taiwan, it could be worthwhile. If you luck out and receive a cash payment after arrival, the free funds could help you stretch your vacation budget further.

Financial considerations to make before traveling abroad

International travel offers an incredible way for tourists to see more of the world and experience new cultures. But you want to plan well before you depart. Here are some financial considerations you may want to make to ensure the best trip experience:

• Foreign transaction fees: If you plan to use a credit card in Taiwan, bring a card with no foreign transaction fees. If you use a credit card that charges foreign transaction fees, you can expect to pay a fee of around 3% every time you use your card to pay for an international purchase. Those additional fees can make your vacation more expensive. Many of the best travel credit cards don't charge foreign transaction fees.
• Checked bag fees: Ensure your airline ticket includes a free checked bag. Otherwise, you may have to pay an additional fee for each checked bag you bring. Some airline credit cards include free checked bag benefits that can save you money.
• Emergency expenses: Unexpected costs can pop up -- no matter where you travel. It's a good idea to plan how to handle potential emergencies and unexpected incidents while abroad. You may consider purchasing travel insurance to protect your trip investment. It's also a good idea to bring a credit card with a generous credit limit in case you need to pay for costly unexpected expenses with your credit card.

Look for ways to save on trip costs

Incentives like this could offer a great way to make your next trip less expensive. As you plan your next domestic or international trip, be alert for savings opportunities so you can keep more money in your checking account. For example, an airfare sale or hotel deal could help you stick to your vacation budget. Travel doesn't have to be expensive!