Latin America for Less: Budget Travel Destinations You’ll Fall in Love With

6 Affordable Destinations in Latin America

1. Guatemala – A Hidden Gem for Culture and Nature Lovers

Guatemala often flies under the radar, but those who go never forget it. With a daily budget ranging from $25 to $40, you can enjoy rich cultural experiences, explore ancient Mayan ruins, and sip some of the world’s best coffee — all without breaking the bank.
Start with Antigua, a charming colonial city surrounded by volcanoes and cobblestone streets. Stay in a cozy hostel for under $15 a night, eat traditional meals for $2-$4, and take a volcano hike for under $20. Nearby, Lake Atitlán beckons with crystal-clear water and quiet Mayan villages, each with its own personality and charm. Buses and tuk-tuks are dirt cheap, making it easy to hop from one town to the next.

2. Bolivia – High Altitudes and Low Prices

Bolivia is one of the cheapest countries in South America, and it offers landscapes that look straight out of a dream. From the surreal salt flats of Salar de Uyuni to the dizzying heights of La Paz, you’ll find unforgettable sights for a fraction of what you’d pay elsewhere.
Hostels in La Paz can be found for as low as $6 a night. Meals at local “comedores” (simple restaurants) cost around $2-$3, and public buses are incredibly affordable. Tours to Salar de Uyuni, one of the world’s largest salt flats, often include transportation, meals, and accommodations — all for under $100 for a multi-day trip.

3. Nicaragua – The New Costa Rica (Without the Price Tag)

If you love the idea of surfing Pacific waves, lounging on volcanic beaches, and sipping rum while the sun sets — but can’t swing Costa Rica prices — head to Nicaragua.
In Granada, a colorful colonial town near Lake Nicaragua, you’ll find cheap accommodations, delicious street food, and a relaxed vibe. A bed in a hostel dorm will cost around $10, while local meals often cost less than $3. If you’re a surfer, San Juan del Sur is calling your name, and lessons or board rentals are far cheaper than in neighboring countries.
Bonus: transportation is laughably cheap — think $1 chicken buses that take you across towns or up volcanoes.

4. Colombia – Colorful, Cultured, and Surprisingly Affordable

Colombia has shaken off its troubled past and become one of the most dynamic, budget-friendly destinations in Latin America. You’ll find everything from tropical beaches on the Caribbean coast to cool mountain towns and lush coffee farms — all within reach of even the tightest budget.
Start in Medellín, a city that’s undergone an impressive transformation. With its cable cars, botanical gardens, and vibrant nightlife, it’s a must-visit. Daily costs for budget travelers range from $25 to $40, including food, lodging, and transport. And don’t miss Salento, a coffee-region gem surrounded by green hills and home to the towering wax palms of the Cocora Valley.

5. Peru – History, Hiking, and Hearty Meals

Sure, Machu Picchu is the headline act, but Peru has so much more to offer — and often at budget-friendly prices if you plan wisely. Even the more tourist-heavy destinations can be navigated cheaply with a little effort.
In Cusco, stay in a hostel for $10-$15, eat like royalty at local markets for under $5, and join group tours to the Sacred Valley for reasonable rates. If the Inca Trail is too pricey, opt for the alternative Salkantay Trek or visit Machu Picchu via train and bus — there’s a budget option for everyone.
And don’t skip Arequipa and Huacachina — a colonial city and a desert oasis, respectively — both stunning, budget-friendly additions to any Peru itinerary.

6. Ecuador – Small in Size, Big on Value

Ecuador doesn’t get as much hype as some of its neighbors, but that’s precisely why it’s a budget traveler’s delight. With the U.S. dollar as its currency and a range of climates within short travel distances, it’s easy to explore without splurging.
Quito, the capital, sits high in the Andes and is full of history and affordable attractions. Buses across the country cost just a few dollars, and meals can be found for less than $3. Visit Baños for adrenaline-filled adventures like ziplining, waterfall hikes, and hot springs — all at budget-friendly prices. And if the Galápagos Islands are on your bucket list, it’s possible to visit on a tighter budget than you might think by skipping cruises and staying on the islands.

Tips for Traveling Latin America on a Budget

• Eat Local: Avoid touristy restaurants. Hit local markets or “comedores” for hearty, authentic meals.
• Use Public Transport: Long-distance buses, colectivos, and chicken buses are not only cheap but often an adventure in themselves.
• Travel Off-Season: Prices drop significantly during the off-peak months (typically May–June and September–November).
• Learn Basic Spanish: Even a few phrases can help you negotiate better prices and connect with locals.
• Stay Longer: Many hostels and guesthouses offer discounts for extended stays — a great option for slow travelers or remote workers.

Final Thoughts

Traveling through Latin America doesn’t have to drain your wallet — in fact, it’s one of the best regions in the world for affordable, meaningful travel. Whether you're scaling the Andes, dancing salsa in a steamy Colombian plaza, or sipping coffee in a sleepy Guatemalan village, you’ll find that the best things about Latin America are also the most priceless: its people, culture, and raw, breathtaking beauty.
So pack your backpack, bring your sense of adventure, and get ready to fall in love — without falling into debt.