In this article, we will list the 30 cheapest places to visit in the world. If you want to skip our discussion about the tourism industry, head over to the 11 Cheapest Places to Visit in the World.
The global tourism market is expected to grow at a healthy compounding annual growth rate of 5% for the ongoing forecast period of 2022 to 2032. It was valued at $10.5 trillion in 2022 and is expected to reach $17.1 trillion by 2032. One of the major drivers of growth for the tourism industry is the exploration of newer places.
While the US and European countries are traditionally the most popular tourist destinations, lesser-known African, Asian, and South American countries have recently emerged as places with great tourism potential. These places are also budget-friendly, as you will find most of them on our list of the 30 cheapest places to visit in the world. In addition, new trends such as adventure tourism and art tourism are also boosting the market growth.
The adoption of tourism websites throughout the world is also becoming a commonplace trend. With a plethora of online resources available, people are finding it easier to travel. In addition, Asia, Africa, and South America are finding a huge boost in their cultural and pilgrimage tourism sectors.
At the same time, tourism is likely to be negatively affected by geopolitical tensions and diseases. The Russian invasion of Ukraine and the Israel-Hamas conflict can have geopolitical effects on other countries too. Similarly, the advent of Covid 19 had previously negatively affected tourism. Diseases such as SARS, EBOLA, and COVID-19 can also negatively affect the tourism industry.
Despite the rise of newer locations for travel and tourism, the United States remains one of the major players in the market. The country is one of the most popular tourist destinations, and Americans are among the top spenders in the tourism industry. In December 2023, foreign visitors spent $19.5 billion in the United States. This figure was a 22% increase from December 2022 and was the highest level of monthly spending since December 2019, just before the Covid lockdowns.
Americans also contribute significantly to the tourism industry around the world. US citizens traveling internationally spent a total of $18.9 billion in December 2023. However, it is worth noting that the United States tourism industry was still at a trade surplus of $544 million in December 2023. This was the sixth consecutive month that the United States maintained a trade surplus in the tourism industry.
The tourism industry is complemented by the global tourism insurance industry, the market of which is growing rapidly. The global tourism insurance market is expected to achieve a CAGR of 15.4% during the forecast period of 2021 to 2030. It was valued at $17.8 billion in 2021 and is expected to reach $63.9 billion in 2030. Some of the best companies in travel insurance include Chubb Limited (NYSE:CB) and Sun Life Financial, Inc. (NYSE:SLF)
Chubb Limited (NYSE:CB) is one of the top financial services companies. It operates in the general and travel insurance sectors of the industry. Recently, Chubb Limited (NYSE:CB) announced the launch of a new developer portal that will offer B2B2C partners access to digital insurance products and services.
Sun Life Financial, Inc. (NYSE:SLF) is part of our 15 best travel insurance companies list. It is one of the leading financial services companies, specializing in insurance, investment, financial advice, and asset management. Sun Life Financial, Inc. (NYSE:SLF) is ranked among the best travel insurance companies and has business all over the world.
With that backdrop, let’s look at the 30 cheapest places to visit in the world.
Leonid Andronov/Shutterstock.com
Methodology
To curate our list of the 30 cheapest places to visit in the world, we started off by making a list of budget-friendly countries. Then, for each country, we noted its busiest airports since flights to these airports would be the cheapest. Then, we checked the cheapest return fares from John F Kennedy Airport (one of the busiest airports in the US) to the busiest airports in the countries using Google Flights. For our research, we assumed that it would be a one-week trip for two people. Then, for each country, we checked the Budget Your Trip website for an average cost of a one-week vacation for two people, including hotel accommodation and travel within the country. Finally, we totaled all the costs and selected the 30 cheapest destinations.
By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a similar consensus approach we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or a professional looking for the best stocks to buy you can benefit from the wisdom of hedge funds and corporate insiders.
30 – Malaysia
Cheapest Return Airfare for 2 People – $2802
Average Cost of One Week Trip for 2 People – $1136
Total Cost for 2 People – $3218
Malaysia is 30th on our list of the cheapest places to visit in the world. Some of the popular places to see in the country are the iconic Petronas Twiin Tower and Baltu caves in Kuala Lumpur. In addition, you can marvel at the UNESCO World Heritage Site of George Town.
29 – South Africa
Cheapest Return Airfare for 2 People – $1992
Average Cost of One Week Trip for 2 People – $1219
Total Cost for 2 People – $3211
South Africa is one of the most budget-friendly places to travel to. It offers a unique mix of historical landmarks, such as Constitution Hill and Mandela Square, and panoramic views offered by Table Mountain.
28 – Uruguay
Cheapest Return Airfare for 2 People – $1982
Average Cost of One Week Trip for 2 People – $1112
Total Cost for 2 People – $3094
Uruguay is 27th on our list of the cheapest places to visit in the world. Its capital city, Montevideo, is known for its blend of modernity and historical charm, offering affordable living costs and cultural experiences.
27 – Nepal
Cheapest Return Airfare for 2 People – $2550
Average Cost of One Week Trip for 2 People – $527
Total Cost for 2 People – $3077
Apart from being one of the most budget-friendly places, Nepal is also quite unique. The country is famous for its trekking routes, including the Annapurna Circuit Trek and the Everest Base Camp Trek.
26 – Sri Lanka
Cheapest Return Airfare for 2 People – $2326
Average Cost of One Week Trip for 2 People – $685
Total Cost for 2 People – $3011
Sri Lanka offers a variety of experiences to travelers on a budget. On average, you can expect to spend $44 on transportation, food, and activities per day. The country offers hiking treks Temples and Monasteries.
25 – Mexico
Cheapest Return Airfare for 2 People – $1092
Average Cost of One Week Trip for 2 People – $1786
Total Cost for 2 People – $2878
Mexico is 25th on our list of the 30 cheapest places to visit in the world. It caters to people of various tastes and interests, including museums, clubs and bars, and beaches.
24 – Czech Republic
Cheapest Return Airfare for 2 People – $1274
Average Cost of One Week Trip for 2 People – $1547
Total Cost for 2 People – $2821
The Czech Republic is one of the most budget-friendly places in Europe. Its capital, Prague, is famous for its historic sites and picturesque landscapes. In addition, the country offers a multitude of cultural experiences such as theater opera, and concerts.
23 – Latvia
Cheapest Return Airfare for 2 People – $1070
Average Cost of One Week Trip for 2 People – $1715
Total Cost for 2 People – $2785
Latvia is known for its beer gardens where travelers can indulge in traditional Latvian beer at affordable prices. The country offers a host of affordable attractions such as medieval castles and beaches.
22 – North Macedonia
Cheapest Return Airfare for 2 People – $1324
Average Cost of One Week Trip for 2 People – $1400
Total Cost for 2 People – $2724
North Macedonia is one of the most underrated and budget-friendly travel destinations. Its Matka Canyon offers breathtaking scenery and opportunities for hiking and picnicking.
21 – Brazil
Cheapest Return Airfare for 2 People – $1500
Average Cost of One Week Trip for 2 People – $1220
Total Cost for 2 People – $2720
Brazil is 21st on our list of the 30 cheapest places to visit in the world. It offers a wide range of budget-friendly activities and experiences, such as Iguazu Falls and Christ the Redeemer statue atop Corcovado mountain in Rio de Janeiro.
20 – Indonesia
Cheapest Return Airfare for 2 People – $1822
Average Cost of One Week Trip for 2 People – $836
Total Cost for 2 People – $2658
Indonesia is one of the cheapest places to visit. Despite the excessive return airfare charges, the cheap local prices make it extremely easy on the pocket. The country is home to some of the best public and cultural parks in the world. Its city Bali is a popular tourist attraction and houses the Sacred Monkey Forest Sanctuary and the Tegalalang Rice Terrace.
19 – Croatia
Cheapest Return Airfare for 2 People – $1160
Average Cost of One Week Trip for 2 People – $1468
Total Cost for 2 People – $2628
Croatia offers a host of activities and experiences on a limited budget. Some of these activities, such as hiking the Marjan hill, can be done without any cost.
18 – Estonia
Cheapest Return Airfare for 2 People – $1070
Average Cost of One Week Trip for 2 People – $1538
Total Cost for 2 People – $2608
Estonia is 18th on our list of the cheapest places to visit in the world. A mid-range budget for the trip to Estonia can cost €50 to €75 per day for one person.
17 – Philippines
Cheapest Return Airfare for 2 People – $1604
Average Cost of One Week Trip for 2 People – $944
Total Cost for 2 People – $2548
The Philippines is a popular tourist destination and one of the cheapest places to visit in the world. The country is home to some of the most beautiful beaches and has diverse islands.
16 – Costa Rica
Cheapest Return Airfare for 2 People – $866
Average Cost of One Week Trip for 2 People – $1643
Total Cost for 2 People – $2509
Costa Rica is one of the most biodiverse places in the world. Despite covering only 0.03% of the globe, Costa Rica boasts 5% of the world’s biodiversity and dedicates 26% of its land to conservation and protected areas.
15 – Albania
Cheapest Return Airfare for 2 People – $1400
Average Cost of One Week Trip for 2 People – $1090
Total Cost for 2 People – $2490
Albania is 15th on our list of the 30 cheapest places to visit in the world. It is a heaven for mountain lovers as about three-fourths of Albania’s territory consists of mountains and hills with elevations of more than 650 feet above sea level.
14 – India
Cheapest Return Airfare for 2 People – $1932
Average Cost of One Week Trip for 2 People – $552
Total Cost for 2 People – $2484
India is one of the cheapest places to visit in the world. The exorbitant price of airfare is offset by the extremely low local prices. The country is home to some of the world’s most iconic sites such as the Taj Mahal.
13 – Lithuania
Cheapest Return Airfare for 2 People – $1072
Average Cost of One Week Trip for 2 People – $1388
Total Cost for 2 People – $2460
Lithuania is 13th on our list of the cheapest places to visit in the world. The Old Town of Vilnius is renowned for its cobbled streets and Baroque architecture.
12 – Hungary
Cheapest Return Airfare for 2 People – $1238
Average Cost of One Week Trip for 2 People – $1185
Total Cost for 2 People – $2423
Hungary is 12th on our list of the cheapest places to visit in the world. It offers a wealth of travel-friendly experiences for those seeking adventure, culture, and relaxation. The country houses UNESCO World Heritage sites of Buda Castle and Fisherman’s Bastion in Budapest. In addition, it is known for its thermal baths.
Click to continue reading and see 11 Cheapest Places To Visit In The World.
Suggested articles:
- 16 Safe and Affordable Cities in South America for Expats
- 12 Safest Places to Retire in Mexico
- 25 Cheap Safe English Speaking Countries For Americans
Disclosure: none. 30 Cheapest Places To Visit In The World is originally published on Insider Monkey.
