In that budget I would opt for a decent bridge camera, I had (have) a Fujifilm s9600 which I have had for nearly 3 years and only just upgraded to a Nikon D90 SLR. the bridge camera was a good travel camera, good zoom, manual options etc and helped me with learning the different settings, I'm sure the newer models will be much better. Mine had manual zoom which helped with speed of taking snaps as well as lowering battery consumption, useful when on trips without constant plug sockets available.
I am off to Vietnam in just over 1 week so I am hoping the D90 should be fine. I had a long look on Flickr as to the types of scenery you will get when out there, its quite contrasting but hopefully the kit lens will do me for the general landscape type shots and the 35mm f1.8 I'm hoping will be good for the low light night time shots that the kit lens struggles with.
I can confirm p0ss3s3d notes about SLRs being a money pit, I just bought the D90 3 weeks ago and have allready bought:
35mm lens
remote release cable
sb400 flash
2x8gb SD cards
polariser for the kit lens (allready got filters from the s9600 I can use on the 35mm)
Crumpler muffin top 4000 bag
Spare battery
Nothing I would really call extravagant purchases for an SLR and it has cost me nearly £400 just for those bits.
I would have bought these items over time usually but as my trip to Vietnam is quite soon I wanted to have everything before I go and the D90 was a semi impulse purchase this month.
Bridge cameras or a decent P+S really wont set you back more than a spare card, battery and a bag, so bare that in mind if you are on a tight budget, the s9600 only cost me around £100 for the extra bits I bought in its lifetime.