Giggs had a four-game spell as interim boss at United in 2014 following David Moyes' sacking, but he has failed to land a permanent managerial job despite links to a number of clubs since leaving his assistant role at Old Trafford in 2016.
Chris Coleman's resignation as Wales coach has presented another opportunity and Hughes - himself formerly the manager of his country - thinks now could be the right time for Giggs to take the next step.
"I think [Giggs] would be a candidate, I think he'd be a good choice - I'd recommend him," the Stoke City boss told the BBC.
"I know from my own personal experience of getting the Welsh job early in my career - it was my first job and I was still playing - they weren't ideal circumstances if I'm honest looking back.
"But as a very young manager finding my way, finding my own beliefs in terms of how I wanted my teams to play, all that was a learning experience for myself and I found it invaluable."
Wales failed to qualify for next year's World Cup, finishing third in UEFA's Group D, before Coleman departed ahead of his impending appointment at Sunderland.