Insurance Blog

Posted: 08/17/20235,692 Views

If it feels like your money just doesn’t go as far as it used to, you aren’t alone. Inflation is pinching wallets around the globe as the world continues to emerge from the lingering economic effects of the coronavirus pandemic. But none of that stops our desire to travel and explore. The question is how can we satisfy our wanderlust while preserving our savings?

Your destination has a lot to do with it. Some places are simply cheaper than others, and you can still have a great time while visiting them. Luckily, a recent UK study has revealed many of the most affordable vacation destinations around the globe. We’ve listed five you can choose from. Where you’re traveling from may impact how affordable any of them might be for you, but they can hopefully provide some inspiration to help you plan that dream holiday on the cheap.

Egypt

Avoid traveling to Egypt during its peak season from December to February if you want to see Cairo, the pyramids, and all of this country’s other sights without being overcharged. The average meal in Egypt only costs about $6, and a beer will run you just $2. You can even tour the country by train for under $50 to save money on travel. Just skip the tourist traps if you don’t want to waste your money.

Andorra

This tiny nation in the Pyrenees may not get the attention of its neighbor France, but it should. It’s a fantastic skiing destination that’s easy on the pocketbook. A weeklong ski trip for a family of four here can be booked for just over $2,000, lift passes included, which is considerably cheaper than other European destinations. 

Laos

Discover what backpackers have known for years: Laos is perfect for frugal travelers. But don’t think you have to rough it in a hostel to enjoy a cheap vacation here. You can stay in lavish hotels in Laos and still spend just $150 a day, and daily motor scooter rental is just a couple of dollars. Even the beer is cheap, which is a nice bonus for thirsty sightseers.

Albania

Eastern Europe won’t be cheap forever as more people are discovering it every day, but it’s still considerably more affordable than the western part of the continent. Albania is a perfect example. You can experience all the mountains, beaches, and historical cities of more famous destinations, but do it while enjoying gourmet meals for $10, and five-star hotels for ridiculously low prices. What’s not to like?

Bolivia

One of the best countries in the world for sightseeing is also shockingly affordable. In Bolivia you can take weeklong Jeep tours for barely over $100, and spend $10 on a lavish meal with a tasty local beer included. And it’s not like the scenery is second-rate. Bolivia is home to Amazon jungle landscapes, and the famous Lake Titicaca. Numerous tour companies can handle all of the logistics for you.

Wherever You Go, Get Insurance

Planning a dream vacation for a steal of a price is all for nothing when unexpected mishaps force you to empty your bank account. The solution is to have the appropriate travel insurance or international insurance to cover you.

For anyone traveling to a location outside of the United States, it makes sense to get travel medical insurance. If you get hurt or sick outside your home country, local hospital treatment can cost a fortune if you don’t have insurance coverage, and the domestic health insurance from your home country isn’t likely to be accepted. Travel medical insurance allows you to receive the best care for a predictable price, and can even provide coverage for expensive emergency medical evacuation, which can easily run over $100,000. If you don’t want to get stuck paying that bill yourself, get travel medical insurance.

US citizens (including couples) traveling abroad or domestically can look into travel insurance. A travel insurance plan is primarily designed to protect your prepaid, nonrefundable trip expenses in the event of an unplanned cancellation. It can reimburse you for the nonrefundable portion of your prepaid costs if you must cancel your trip for a covered reason. In addition, travel insurance can provide coverage for emergency medical care and a variety of other travel-related issues.

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