South and Central America are sometimes forgotten by residents of the rest of the world, but savvy travelers continue to flock to this region for a great variety of reasons. In addition to the cultural and scenic highlights, the entire area is quite cheap by international standards, at least once you are here. Backpacking in South America can be very inexpensive and 3-star travel can be surprisingly affordable as well.
We have completed updated this list for 2020 and re-ranked each destination from cheapest to most expensive. Most currencies in the region were pretty stable in 2019 and inflation was very low in all but a couple of countries, so things remain great value for most travelers. Argentina continues to struggle with runaway inflation, but its currency keeps going down so it's actually a very good bargain as of 2020. Venezuela is out of control and probably better saved for a future when things are stable. Click to read more