5 of the Best Budget Destinations Around the World

“What countries in the world offer the most value? How did you manage to spend such little money?”

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Being a budget traveller myself, these are questions that are often asked by my friends, family, and clients.

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With the correct planning, the combination of cheap accommodation, transportation, food, and activities can allow you to stretch your money a lot farther than you may have initially thought.

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Keep in mind that these countries are in no particular order and are only places that I have visited myself.

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So, if you’ve been to other incredible budget holiday destinations (from cheap European countries like Bulgaria and Romania, through to other South American jewels such as Mexico), then let us know!

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Vietnam

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Before I went to Vietnam, I had heard from others and done the research, so I knew that it was going to be quite cheap.

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But let me tell you; I did not expect to be able to survive on approximately $15 CAD per day (being a Canadian, I’ll be talking in Canadian Dollars throughout).

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A massive bowl of pho accompanied with an ice-cold beer for $2? Uhhh YES PLEASE!

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In addition to having extremely cheap and delicious food, accommodation throughout the country is some of the cheapest I have ever experienced during my travels.

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I’m talking hostels for under $10 per night and high-end 5-star hotels for under $150. Whether taking buses, trains or flying around the country, the transportation systems are very reasonably priced and quite reliable.

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Vietnam continues to be one of my favourite destinations for many reasons, with the low prices definitely contributing to this being the case.

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It’s also part of the famous South East Asia backpacking route that includes the likes of Thailand and Cambodia, of which are also high on the budget holiday destinations list.

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• Average Cost of Hostel: CAD$10 and below (£6)
• Average Cost of 5 Star Hotel: CAD$150 and below (£85)
• Average Cost of Street Food: CAD$1 and below (£0.50)
• Average Cost of Restaurant Meal: CAD$5 and below (£2.50)

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Peru

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Yes, yes I know what you’re all thinking. Machu Picchu is not cheap!

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You’re right, but just so you know, there’s a lot more to see and do in Peru than strictly visiting the gem of Machu Picchu.

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During my 6-month backpacking adventure around South America, I had the opportunity to spend just under one month in the stunning country of Peru.

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I was pleasantly surprised by how far I was able to stretch my money here!

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Although not quite as cheap as Vietnam, it’s still very possible to budget around $20 per day.

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Especially if you have a few extra days or weeks and can spend time outside of the Cusco tourist zone (even though I absolutely loved this city).

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If you’re looking to save money on food, make sure to enjoy the “Menu Del Dia”, which can be found at basically every restaurant in each city.

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As much as I try to cook my own food while travelling on a budget, a three-course meal for under $5 was impossible to turn down.

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• Average Cost of Hostel: CAD$17 and below (£10)
• Average Cost of Street Food: CAD$2 and below (£1.20)
• Average Cost of Restaurant Meal: CAD$4.50 and below (£2.50)

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Portugal

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Western Europe continues to be a hotspot for travel, so I thought it would make sense to throw in an affordable destination from the region.

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Compared to the other countries within close proximity, Portugal continues to be one of the best stops in Western Europe for a budget holiday.

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Although I only had a limited time here in the capital of Lisbon, I learned very quickly that a little bit of money can go a long way.

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Accommodation is reasonably priced, public transportation is a fraction of the cost of surrounding countries, and you can find a variety of delicious local plates for under $8.

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Of course, you’re not going to be able to survive on a daily budget of $15 like above, but if staying in hostels, and eating local food, it can easily be done for under $50.

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Another great thing about Portugal is the weather, which makes it very easy to travel in the shoulder seasons.

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Do this, and you’ll be able to save even more money than you initially thought.

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Get there soon though, as I’m quite confident that prices will be on the rise soon!

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• Average Cost of Hostel: CAD$34 and below (£20)
• Average Cost of Restaurant Meal: CAD$10 and below (£5.80)

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Malaysia

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Being a country that often gets overlooked or skipped by those travelling around South East Asia, Malaysia was one of my favourite countries in the region.

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Although not as cheap as other countries in the area, if you’re smart in your decision making while travelling, your budget could be set lower than imagined.

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Another nice bonus about Malaysia is that it’s not anywhere near as touristy as other destinations in Southeast Asia.

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This has kept prices relatively low and stable, compared to, say, the popular Thailand islands.

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It’s not always ideal for certain people, but travelling during monsoon season in Malaysia can see prices drop significantly.

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Flights, accommodation, and activities will be priced at their lowest during this time, and crowds will be minimal.

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My best piece of advice in order to save money while travelling in Malaysia; limit your alcohol consumption.

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Being a predominately Muslim country, the prices of alcohol can be very similar to those in North America and Western Europe.

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If you’re on a longer trip and want to party, save that until you head further north. Your wallet will be thanking you later!

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Ps - don’t forget about the island of Borneo. It’s well worth the cheap flight across the water and is home to some spectacular National Parks.

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• Average Cost of Hostel: CAD$22 and below (£12.50)
• Average Cost of 5 Star Hotel: CAD$137 and below (£80)
• Average Cost of Street Food: CAD$1 and below (£0.60)
• Average Cost of Restaurant Meal: CAD$5 and below (£3)

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Argentina

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Although it can be quite the journey to get to for most people, once you arrive in Argentina you’ll be able to enjoy great value for your money.

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It’s an unfortunate situation for the people of Argentina, but the continuing economic problems here make it extremely appealing for budget travellers.

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What you get in exchange for $1 today is approximately 7 times what it was only a short 5 years ago.

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What does this mean??

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Although you may never had considered travelling to Argentina in the past, now is a great time to take advantage of the value it presents as a budget holiday destination.

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The stunning capital of Buenos Aires (potentially my favourite city in the world), provides a wide range of accommodation options, parks galore, and friendly locals who are still in bright spirits despite the economic crisis.

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The country is also home to part of the iconic Iguazu Falls, the famous Patagonia region in the south, and the popular wine regions in the north.

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Keep in mind that prices in Patagonia will be a bit higher, but are still very reasonable compared to what they used to be.

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• Average Cost of Hostel: CAD$20 and below (£12)
• Average Cost of 5 Star Hotel: CAD$128 and below (£75)
• Average Cost of Street Food: CAD$4 and below (£2.35)
• Average Cost of Restaurant Meal: CAD$7.75 and below (£4.50)

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Well, I hope this article has helped you with discovering the top budget destinations around the world today!

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If you're planning to work and travel, you could easily save up a lot of money in a country that pays more handsomely and take your hard earned wages onto these countries to make those dollars last longer.

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Travelling doesn’t have to be as expensive as you think.

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Do your research and maybe consider a country that you weren’t thinking of before.

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For now, take care of yourself - and remember, adventure is out there.