Excellent value for a developed country
Taiwan is developed-world quality at developing-world prices for many things — particularly food and transport. Night market meals for $1-3, world-class high-speed rail, and accommodation that is very affordable compared to Japan or South Korea. Here is the breakdown.
Accommodation
Hostel dorm in Taipei: NT$500-900/night ($16-28). Budget private room: NT$1,000-1,800/night. Mid-range hotel: NT$2,000-4,000/night. Outside Taipei (Hualien, Tainan) prices are 20-30% lower. Business hotels in Taipei around Taipei Main Station offer good value mid-range from NT$2,500/night.
Food
Night market food: NT$40-150 per item. Local restaurant meal: NT$80-200. Beef noodle soup (Taiwan’s signature dish): NT$180-280. Mid-range restaurant: NT$300-600 per person. Taiwan’s food is extraordinary at every price point — the night market system means excellent eating for $2-5 per dish.
Transport
Taipei MRT: NT$20-65 per journey. EasyCard (IC card): rechargeable, discounted MRT fares. High-speed rail Taipei to Tainan: NT$1,080. Regular train Taipei to Hualien: NT$345. Bus between cities: NT$200-400. Taiwan’s public transport is excellent, cheap, and reliable.
Attractions
Taipei 101 observation deck: NT$600. Jiufen: free to explore, small entry fees for some teahouses. Sun Moon Lake: scenic, free. National Palace Museum: NT$350. Taroko Gorge: free.
Daily total
Budget (hostel, night market, transit): NT$1,500-2,500/day ($48-80). Mid-range: NT$2,500-4,500/day. Taiwan is one of Asia’s best value destinations for the quality of experience.