Personal Finance

Your travel budget will go the farthest in these international cities

Key Points
  • Over half of Americans plan on going on vacation this summer and spending an average of $1,000, according to Bankrate.
  • Here are the top international cities where your dollar will go the farthest, according to GOBankingRates.com.
Alex Tihonovs / EyeEm | Getty Images

If you’ve been pining for an epic international vacation but are feeling strapped for cash, look for cities where the U.S. dollar is the strongest.

Over half of Americans plan on going on vacation this summer, according to a recent survey by Bankrate. The median amount they plan to spend is $1,000, with less than a quarter saying they’ll spend over $2,000. For larger families, the cost of a getaway is steeper; a family of four spends $4,000 on average.

For those looking to save, there are many ways to explore the world without breaking the bank.

"The biggest thing is to stick to a budget in advance," said Katie Wudel, deputy editor of content at GOBankingRates.com.

Have a budget strategy

If you're looking to avoid taking on debt for a vacation, a good exchange rate abroad will help your dollar go farther. In addition, many international cities have a low cost of living, meaning that you can stretch your dollar by going off the beaten path.

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"Be strategic with your money when you travel," Wudel said. "Enjoying all of these places, getting beautiful photos along the way and having great memories is possible without spending a ton of money."

Keep an open mind

For those looking for unforgettable experiences and beautiful photos, Wudel says to keep an open mind about affordable travel destinations.

A recent study by GOBankingRates.com, a personal finance website, looked at the top cities with the best exchange rates for the U.S. dollar. The report also reviewed what international cities had the lowest average cost of daily expenses per person.

Enjoying all of these places, getting beautiful photos along the way and having great memories is possible without spending a ton of money.
Katie Wudel
deputy editor of content at GOBankingRates.com.

"The whole world has a lot to offer," Wudel said. "Picking unexpected places and being a little adventurous can go a long way."

The U.S. dollar will go far in these 20 international cities

Location Currency Exchange Average Cost of Daily Expenses
Medellin, Colombia1 USD = 2,953.75 COP$18
Siem Reap, Cambodia1 USD = 4,036.60 KHR$32
Delhi, India1 USD = 67.8842 INR$35
Valparaiso, Chile1 USD = 640.110 CLP$36
Ho Chi Minh City, Vietnam1 USD = 22,871.67 VND$47
San Jose, Costa Rica1 USD = 567.494 CRC$49
Beijing, China1 USD = 6.51130 CNY$60
Dubrovnik, Croatia1 USD = 6.33385 HRK$60
Bali, Indonesia1 USD = 14,093.15 IDR$62
Buenos Aires, Argentina1 USD = 27.1010 ARS$64
Bangkok, Thailand1 USD = 32.9077 THB$65
Rio de Janeiro, Brazil1 USD = 3.76620 BRL$65
Banff, Canada1 USD = 1.32857 CAD$71
Gothenburg, Sweden1 USD = 8.85726 SEK$92
Queenstown, New Zealand1 USD = 1.44689 NZD$93
Prague, Czech Republic1 USD = 22.1896 CZK$94
Cancun, Mexico1 USD = 20.0772 MXN$100
Cape Town, South Africa1 USD = 13.4042 ZAR$110
Oslo, Norway1 USD = 8.10237 NOK$134
Copenhagen, Denmark1 USD = 6.39797 DKK$155

Plan ahead

Prior planning is extremely important for budget travelers, Wudel said. Before your trip, take some time to read about local events and look for deals. Many cities have cheap or free concerts, museums or other activities that anyone can attend.

"Taking a few extra steps to plan out your day can help a lot," she said.

In addition, Wudel said to remember that traveling on a budget doesn't mean you have to backpack everywhere. There are many ways to find deals on hotels or other living arrangements while you're away.

"You can still have a comfy cushy stay as long as you’re smart with how you budget your money," she said. "Do your research."

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