“Travel” and “cheap” generally don’t go together. Like most things in life, you get what you pay for. Traveling is no exception.

While countries differ in exchange rates, inflation, cost of living, and purchasing power - contrary to popular belief, there is no country in the world where you can live like Royalty for $100 a day, let alone $10.

Lonely Planet, one of the most respected economical travel guides on the Planet, provides daily budgets for each country. Perú, for example, is budgeted by Lonely Planet at $52 USD per day, which includes:

1. Sharing a room & bathroom in a hostel

2. Cooking meals in the hostel kitchen and eating street food

3. Visiting local, low-key historical sites

What is NOT included in the $52 USD (For the Perú example)

1. No Alcoholic drinks, such as wine tastings, breweries, nights out, or even just having a casual adult beverage

2. No tours or major sites (in this Perú example……….no Machu Picchu, Lake Titicaca, or Nazca Lines)

3. No eloquent/fine dining experiences

4. No hotel rooms…only shared hostel rooms

5. No group tours.

   • (Only self-guided tours where you hitch hike to/from attraction)

This article ranks the countries of South America, from cheapest to most expensive, for travelers and tourists. All prices are current as of 2021 and are in United States Dollars (USD).

In addition to my rankings, I have provided Lonely Planet’s budget as a reference point. Along with their mid-range budget, which is more realistic for those looking to visit popular attractions, dine-out, drink, all while still maintaining a relatively frugal budget.

However, keep in mind that if you actually want to travel, and see the famous attractions that motivated you to explore in the first place, that costs money. With that said, I have organized the countries from cheapest to most expensive.

Ranking The South American Countries By Travel Costs

1) Venezuela (cheapest)

Venezuela is not only the cheapest country in South America but it’s one of the cheapest countries you will ever visit, regardless of continent. However, this is assuming you pay with cash and exchange it for the bolívar or US dollars in the black market. If you pay by credit card or use ATMs, you will be charged ruinous official exchange rates.

Venezuela has 43 national parks and over 2,600 km of coastline along the Caribbean coast, with these beaches widely considered the best in South America.

However, Venezuela has the highest rate of inflation in the world, and prices are extremely vulnerable to change. Corruption, crime, civil unrest, inflation, kidnapping, arbitrary arrest, poor health services, and low quality of food, amenities, & services is rampant, which is why Venezuela is generally not talked about when visiting South America and the U.S. State Department says:

“Do not travel to Venezuela due to crime, civil unrest, poor health infrastructure, kidnapping, arbitrary arrest and detention of U.S. citizens, and COVID-19.”

Cheapest daily cost of Venezuela according to Lonely Planet

• Budget traveler: $15 per person/day (estimated)

• Budget Lodging = $5

• Dinner Main = $2

Additional COSTS

• Coffee at a coffee shop = 1 dollar

• Beer in a bar = 1.50 to 2 dollars

• Local dinner = starting at $3

• Liter of petroleum = 5 cents

2) Suriname

Dutch is the official language in the smallest country in South America, which was a Dutch plantation colony, until gaining its independence in 1975. Most of the country consists of an almost uninhabited intact Amazon jungle where Indigenous tribes still live. It’s no wonder this country is known as “South America’s Wild West.”

Unemployment, political instability, and inflation make both Venezuela and Suriname the CHEAPEST COUNTRIES in South America to travel.

• Both of these countries are in their own budget category as they are significantly cheaper than the rest of South America and are as cheap as any country in the world.

Cheapest daily costs of Suriname according to Lonely Planet

• Budget traveler: Less than $18

• Budget hotel room: $10 to $14

• Chicken & veggie roti: $1.75

*Holiday/party traveler daily cost: $18 to $43

3) colombia

Bordering the north-western coasts of South America, Colombia contains many beautiful Caribbean beaches. As well as the capital city of Bogotá, both the vibrant city of Medellin and the beautiful fishing town of Cartagena are well-worth visiting for their sights and atmosphere. However, they are also rather cheap places to visit.

In Colombia, a double room in a mid-priced hotel will typically cost between $25 and $37 per night, and $9 on average for a hostel bed. In terms of food, a three-course meal in a modest restaurant will set you back at around $10 per person.

Transport is rather cheap in Colombia, with the eight-hour bus journey between the cities of Bogotá and Salento costing around $16.

Although many of the museums in Medellin are free to enter, some attractions may have an entrance fee of around $5. Other attractions in Colombia may cost more – for example, a paragliding session in San Gil will cost $17 for a short flight, but is definitely worth the price.

• Group tour of coffee farm = starts at about $50

• Day tour of Tatacoa Desert = $200+

Cheapest daily cost of Colombia according to Lonely Planet:

• Budget traveler: Less than $28 per person/day

• Set meal: $2 to $4

• Dorm bed: $7 to $13

• Main dish in decent local restaurant: $5.50 to $8

*Holiday backpacker daily cost: $28 to $70

As in every country, the prices can vary dramatically from region to region.

For example, Lonely Planet’s daily cost of Medellín is double that of Colombia in general:

• Budget traveler: $56 per person/day

• Dorm bed: $8 to $18

• Set meal: $3 to $4

• Beer in a bar: $1.50

*Holiday or party backpacker daily cost: $56 to $97

4) Paraguay

Situated in the heart of South America, Paraguay may feel like it is away from the well-trodden tourist track at times, but it is because of this that partly gives the country its charm. It is also rather affordable – although prices for a mid-range hotel room may start at a relatively higher $40 per night, a hostel bed will set you back around $10 per night.

With a three-course meal in a mid-range restaurant priced at around $10 per person, you should be able to get by while traveling the country on a frugal backpacker budget of around $30 each on low-key days.

However, some of the attractions are fairly expensive, with a three-hour private sightseeing tour of Asunción starting at around $60 per person, although the price does include entry to various sites and museums, and a private guide.

Cheapest daily cost of Paraguay according to Lonely Planet:

• Budget travel: $50 per person/day

• Bed in a hostel: $12

• Fast Food meal: $3.75

• Standard dinner: $12

*Classic Backpacker/Traveler Daily Cost: $50 to $175

5) Bolivia

Bolivia is known for having very cheap accommodation and food costs, and is often referred to by travel guides as one of the cheapest, safe countries in South America.

With accommodation costs around $25 per night in a basic hotel, and $14 for a night in a hostel bed, it is the country to visit if you want to save money. Like many South American countries, it has wealthier parts and poorer areas, and it is within relatively poor areas such as Potosi and Oruro where you will find cheaper food and accommodation. Of course, it is often the case that the poorer a neighborhood is, the less safe that it is likely to be.

• Standard tour of the world's largest salt flat (Salar de Uyuni) for 3 days/2 night = $160

• Lake Titicaca - between Peru and Bolivia (12,500 feet or 3,808 meters) = One day minimal tour starts at $20

Daily cost of Bolivia according to Lonely Planet:

• Budget travel: $29 per person/day

• Dorm/budge bed: $6 to $11

• Simple meal: $7

*Classic party backpacker/traveler daily cost: $29 to $95

6) Argentina

Argentina is the 8th largest country in the world and the most visited country in South America. Buenos Aires, the capital city, is the main entry point for visitors and is home to the Tango dance. Travelers to Buenos Aires will find this city comparable in price to Montreal, Canada.

Argentina is fairly expensive by Latin America standards, as is most of South America, however, Argentina is still cheaper than Brazil, Chile, Uruguay and is comparable to Peru in cost. Like many Latin American countries, the economy is unpredictable, so the Argentine Peso can fluctuate dramatically compared to other currencies.

Daily cost of Argentina according to Lonely Planet:

• Less than $60 USD per day per person

• Dorm bed: $15 - 22

• Cheap main dish: less than $11

*Realistic Backpacker/Traveler Daily Cost: $60 to $200

7) Peru

Peru is another rather cheap South American country, with an underrated capital city – Lima – that is significantly cheaper than the large cities of neighboring Brazil. With prices for a standard double hotel room starting at $25 per night (and a hostel bed priced at around $10/night), accommodation costs are rather easy on the wallet. A three-course meal at a mid-range restaurant costs around $8 per person, whereas street food is considerably cheaper.

Travel costs also tend to be rather cheap, with an 18-hour bus ride between the cities of Lima and Cusco starting at $50. Tourist attractions are rather good value for money, with museum entrances within the country being priced at around $10 per ticket.

However, visiting mega tourist attractions, such as Machu Picchu are considerably more expensive:

Cost of Machu Picchu

• Machu Picchu entrance tickets ~ $50 each

• Round trip train ticket from Cuzco to Aguas Calientes (town near Machu Picchu) = $100 minimum

• Round trip bus ticket from train station to the entrance of the Machu Picchu ruins = $24 each

  • Totaling $174 (minimum) and that’s before lodging, food, taxi ride to train station, travel expenses to Cuzco, tour guides, etc.

Also, keep in mind that prices are much higher for the multi-day Machu Picchu Inca Trail trek – starting at $500 per person – but this is a lifetime experience that you will likely never forget.

Cheapest daily cost of Peru according to Lonely Planet:

• Budget travel: Less than $52 per day/person

• Set lunches: Less than $4

• Bed in dorm or cheap hotel room: $7 to 45 USD

• Nice dinner: $17+

*Realistic daily traveling cost = $52 to $176

8) Ecuador

Located on South America’s north-western coast, Ecuador is also known for its rather low accommodation, food and transport costs. Double rooms in a mid-range hotel tend to start at $20 per night, although basic private rooms can cost as little as $15. A night in a hostel bed typically costs around $12.

Food is also generally rather cheap. Being a fairly small and compact country, transport costs are rather low, with a four-hour bus journey from Quito – the country’s capital – to the coastal city of Guayaquil costing around $14.

Attractions also tend to be rather cheap in Ecuador as well. Museum entry fees are typically priced at around $5-10 per person, with hiking trips to volcanoes often starting at around $40 per person. A journey on the amazing Devil’s Nose Train also start at $40 for a ticket.

• The Galápagos Islands, which is a province of Ecuador, is significantly more expensive than mainland Ecuador

  • Galápagos national park = fee is $100

  • $20 fee when departing the island via airplane

Cheapest daily cost of Ecuador according to Lonely Planet

• Budget traveler: $40

• Budget guesthouses: $10–20 per person

• Set lunches: $2.50–3.50

• Dinner in good restaurant: $10 to $15 each

*Party/holiday backpacker/traveler daily cost = $40 to $100

9) Brazil

3 of the top 5 most expensive cities in South America are located in Brazil, however, this country is larger than the mainland USA and takes up half of the landmass in South America.

Brazil has an incredibly diverse culture and many famous attractions, such as Iguazu Falls, Christ the Redeemer Statue, Brazilian Carnival, Fernando de Noronha archipelago, and the Amazon Rain Forest.

For budget travelers, the best time to visit Brazil is during the winter, which starts in May and runs to October (seasons reversed in Southern Hemisphere). Brazil has no major festivals during these months and as a result, tourism is at its lowest as are the prices. Rio de Janeiro is always relatively expensive and is similar in costs to those traveling in Toronto (Canada) or Wellington, New Zealand.

Cheapest daily cost of Brazil according to Lonely Planet

• Budget traveler: Less than $36

• Dorm Bed: $7 to 15

• Cheap lunch: Around $3

• Dinner in average restaurant: $15 to $30 each

*Classic Backpacker/Traveler Daily Cost = $36 to $71

Cheapest daily cost of Brasília, Brazil’s capital city, according to Lonely Planet, which is 35% more expensive than Brazil in general:

• Budget Traveler: $51

• Double room in a budget hotel: $30 to $34

• Food court meal: $3.25 to $6

*Classic Backpacker/Traveler Daily Cost = $52 to $103

10) Chile

Although Chile is more expensive than nearly every South American country, you will find some parts of the country rather poor, other places (typically toward the south of the country in Patagonia) are relatively modern, remote, and therefore fairly costly and comparable in price to mainstream areas in the United States and Europe.

Although prices for a decent-standard hotel room start at around $40 per night, a hostel bed usually costs within the $6-20 range. Meals are generally more expensive, at around $24 for a three-course meal in a standard restaurant, whereas a six-hour bus journey from Santiago to Concepción costs around $15.

However, bear in mind that Chile is an incredibly long country, extending around 2,600 miles (4,200 km) north to south, so traveling by airplane may be cheaper if you are covering a long distance. Most tourist attractions cost under $10, but the entry fee to some of the more spectacular places – such as the Torres del Paine National Park – will set you back $29 in the high season, and around $15 during the low season.

Cheapest daily cost of Chile according to Lonely Planet

• Budget traveler: Less than $90 per day/person

• Cheap Dorm Bed: $13

• Budget restaurant: Around $7

• Dinner in decent restaurant: $11 (starting)

*Realistic backpacker/tourist daily cost = $90 to $110

Keep in mind that Chile is the longest country in the world and prices can vary significantly between regions. The daily costs above from Lonely Planet are for Chile in general, below, I have the daily costs for the capital city of Santiago, which are significantly less expensive than Chile’s Patagonia.

Cheapest daily cost of SANTIAGO, Chile according to Lonely Planet

• Budget Travel = $34 per person/day

• Dorm bed at hostel = $10 to $20

• Small typical lunch (empanadas) = $2.75

*Classic Backpacker/Traveler Daily Cost = $35 - $103

11) Uruguay

Uruguay is South America’s 2nd smallest, and also the most expensive of the popular tourist countries. Situated between Brazil and Argentina, this country has the lowest rate of poverty and the highest life expectancy in Latin America. The only regions in Latin America that are more expensive to travel, are French Guiana, Guyana, and parts of Patagonia.

• Montevideo is the most expensive city in South America and is the only city in the Southern Hemisphere to be among the 100 most expensive cities in the world.

• Montevideo is comparable in price to Atlanta, Georgia (USA) and is more expensive than Dallas, Texas.

One of the reasons the prices are so high in Uruguay is because Uruguay's sales tax is 22%, compared to 0 - 7.25% in the USA. 

• Highest sales tax in South America

• Relatively expensive restaurants

  • Dining out in Uruguay isn’t as expensive as Canada or the United States of America, but it’s the most expensive of any Latin American country at USD 10.50 per person, just for an “inexpensive” meal.

  • The Chivito, Uruguay's classic steak sandwich, and the national dish cost about $10

Cheapest daily cost of Uruguay according to Lonely Planet

• Budget traveler: Less than $75 per day

• Dorm Bed: $15 - 35

• Set price lunch (Menu ejecutivo ): $10 to $15

• Dinner in a decent restaurant: $25 starting

*Realistic Backpacker/Traveler Daily Cost = $75 to $175

12) French Guiana

French Guiana is an overseas department of France and is a member of the European Union (EU), and as such, its official currency is the Euro, making this French territory, the most expensive region in all of Latin America to live in.

• French Guiana’s official name is Territorial Collectivity of French Guiana

This remote department of France is the least visited region in South America. 90% of this territory is inaccessible Amazon jungle. The remaining 10% is an eerie mix of prison-camp history, swamped in rainforest humidity. Add to the mix that this is the most expensive area in Latin America and you get a formula for few visitors.

Emperor Napolean III and subsequent French leaders sent French prisoners here as these prisons were considered escape-proof.

French Guiana is 40% more expensive than France since nearly everything is imported from mainland France.

Cheapest daily cost of French Guiana according to Lonely Planet

• Budget Traveler: Less than $119

• Hammock in an open air hut: $12

• Cheap meal at the central market: $5

*Realistic Backpacker/Traveler Daily Cost = $119 to $209

13) Guyana (most expensive)

One of the least visited but the most expensive country to visit in South America is Guyana. The cost of living here is low, however, the costs to tourists are quite high. This former British colony is the only country in South America with English as the official language and is known for its pristine access to nature and wildlife.

The main reason people come to Guyana is to see Kaieteur Falls, which is the highest single-drop waterfall in the world. The cheapest way to see the falls is by plane and that will set you back about $200 each.

The most affordable lodging in Georgetown (capital) will set you back nearly $30 per night and taking a minibus along the coast starts at ~$45. However, the museums in Georgetown are free.

Both French Guiana and Guyana are expensive. If you are traveling with a budget, you will most likely have to forgo visiting the Guianas.

Cheapest daily cost of Guyana according to Lonely Planet

• Budget Traveler: $144 per person/day (or less)

• Budget hotel: $29

• Decent restaurant meal: $10

  • Street snack: $1

*Realistic Backpacker/Traveler Daily Cost = $144 to $288

Patagonia

It’s impossible to talk about South America without mentioning Patagonia.

Even though Patagonia isn’t a country or territory, it’s one of the most visited regions in Latin America. This picturesque area, which is located in both southerly Argentina and Chile is expensive, even by North American and European standards.

One of the reasons that Chile and Argentina’s daily cost is quite high, is due to the high prices of Patagonia. Anything less than $100 per day in this part of the world is just roughing it.

READ: Where/What is Patagonia

Valentina is a guide for Pedal Chile and is our resident badass. Valentina was born and raised in La Patagonia, which probably explains her affinity for adventuring. Valentina has traveled to over 100 countries and is a native of Chile.

• Favorite season: Austral Summer