I'm always fascinated with the way different people with different tastes approach life differently
i'm frugal as well and choose to spend my money on what i like not what the world tells me i should (for example i am not a car guy at all, so i won't mind dropping $$$ on a watch or a home entertainment system and drive my Hyundai.. i don't care if i'm wearing a $100,000 watch to my $11,000 hyundai yay depreciation)
but in vacation terms.. i totally "Flex" and "Stunt"
i don't know why but it's a vacation so let me enjoy it to the fullest and show off what i got regardless of where i am
the only time this would bring me pause is in dangerous areas like Europe or maybe places like Egypt or others in the middle east.. have not had to cross this bridge yet but will eventually since Paris is on the missus' radar
but it's interesting you mention about wet markets and open air markets abroad.. in the Philippines which is where I'm from.. I regularly wore my treasured Hublot Polished Ceramic Rose Gold Big Bang and Panerai 111H to even the most "slummy"/poorest of places. LOL! granted i always had people with me and never actually take public transpo while there.. still, the gist is what you said.. Millions of Pesos worth of watches in the "wrong" place
lol! (in the philippines these luxury watches cost millions of philippine pesos)