As of November 12, 2026, the cheapest country to travel in Latin America at advisory Level 2 or better is Bolivia, at about $36 per person per day mid-range. The biggest real price drop for US-dollar travelers over the past year is Bolivia (+55.6% after inflation). The best overall value on the Trip Arbitrage Index is Bolivia, with a score of 87 out of 100.
| # | Country | Mid-range day | Lean / comfort | Real 12 mo | Index | Advisory |
|---|---|---|---|---|---|---|
| 01 | Bolivia The salt flats, the altiplano and the Amazon at the lowest prices in South America. | $36 | $16 / $87 | +55.6% | 87 | Level 2 · Increased caution |
| 02 | Nicaragua Colonial towns, surf and volcanoes at Central America's lowest prices. | $62 | $29 / $134 | +0.7% | 56 | Level 3 · Reconsider travel |
| 03 | Ecuador Andes, Amazon and the Galápagos in a country the size of Colorado. | $71 | $33 / $163 | +1.6% | 66 | Level 2 · Increased caution |
| 04 | Guatemala Volcanoes, a highland lake and Maya ruins on a backpacker budget. | $72 | $33 / $166 | +0.9% | 55 | Level 3 · Reconsider travel |
| 05 | El Salvador The fastest safety turnaround in the hemisphere, and a surf coast priced in dollars. | $77 | $36 / $164 | +1.1% | 68 | Level 1 · Normal precautions |
| 06 | Paraguay South America's least-visited country: cheap, friendly and without a tourist trail. | $81 | $40 / $175 | −11.5% | 54 | Level 1 · Normal precautions |
| 07 | Peru Machu Picchu is the pricey part. Everything else is a bargain with a world-class kitchen. | $83 | $35 / $198 | +1.7% | 60 | Level 2 · Increased caution |
| 08 | Brazil A continent-sized country where the real does most of the pricing for you. | $93 | $44 / $219 | +4.9% | 62 | Level 2 · Increased caution |
| 09 | Colombia Mountains, Caribbean coast and coffee country, with a peso that rewards timing. | $96 | $41 / $233 | −14.4% | 37 | Level 3 · Reconsider travel |
| 10 | Mexico A continent's worth of food and landscapes, with a peso that swings hard in both directions. | $99 | $44 / $231 | +1.4% | 59 | Level 2 · Increased caution |
| 11 | Panama A skyline, a canal and two oceans, all in US dollars. | $101 | $46 / $223 | +1.9% | 62 | Level 2 · Increased caution |
| 12 | Chile The Atacama to Patagonia, with the best-run infrastructure on the continent. | $102 | $46 / $234 | +4.8% | 64 | Level 2 · Increased caution |
| 13 | Dominican Republic All-inclusive economics: flights and package deals matter more than the peso. | $103 | $46 / $236 | −6.0% | 57 | Level 2 · Increased caution |
| 14 | Argentina Once the definitive currency bargain, now the definitive warning. | $120 | $54 / $277 | −15.2% | 46 | Level 1 · Normal precautions |
| 15 | Uruguay The calm, costly corner of South America. | $124 | $59 / $270 | +2.2% | 54 | Level 2 · Increased caution |
| 16 | Costa Rica Wildlife and stability, at a price: the colón has made it Central America's most expensive stop. | $128 | $56 / $289 | −5.9% | 50 | Level 2 · Increased caution |
Daily costs are modeled estimates per person, excluding international flights. Real 12 mo is the change in what a US dollar buys there after inflation in both countries. Switch currency on any country page. See the method.