Cheap Destinations in Latin America to Travel this Christmas

The Holidays season is one of the favorites to enjoy family vacations. Without a doubt, Latin America has multiple incredible destinations to enjoy a few days off with options for all tastes. However, given the global economic situation, it is necessary to consider several factors to find places where money yields more and takes care of your pocket.

To plan vacations, we always think about what we like, the time we have, the weather, distance, activities, etc., and most importantly: the budget. Factors such as the rise in the dollar, the global economic crisis, inflation, the war between Ukraine and Russia, and the devaluation of some currencies are aspects that can influence your vacation expenses.

The economies most affected by these factors are the emerging ones, in which many Latin American countries are located. The consequences are reflected, mainly, in the devaluation of their currencies. According to data from Bloomberg, an American financial advisory, software and data company, in 2022, the currencies that have devalued the most in Latin America compared to the dollar have the Argentine peso in first place. Then goes the Colombian peso, the Chilean and the Paraguayan guaraní. So, the countries whose currency is weak will be the most convenient when making currency exchanges.

Cheap destinations in Latin America where you can be inspired for your end-of-year vacations

Bolivia is one of the cheapest destinations in Latin America. Although an increase is expected at the end of 2022, it has positioned itself as "the economy with the lowest inflation in the region and one of the lowest in the world," according to the International Monetary Fund (IMF). Accommodation, food, and transportation are reasonably priced. It is a country, which offers beautiful tropical forests, waterfalls, national parks, historical sites and one of its most famous attractions, the spectacular Salar de Uyuni, the largest salt flat in the world. So, you can use all the money you’re saving to travel more or learn Spanish with Gritty Spanish.

Due to the devaluation of their currency, it will be more difficult for Argentines themselves to pay for their trips, but for foreigners it is a great advantage. Argentina is one of the most visited areas in South America. In addition to its capital, Buenos Aries, with its coasts bathed by the Río de la Plata, this country has a lot to offer its visitors. For the more adventurous and nature lovers, places like the city of Salta, in the mountainous northwest of Argentina, the town of El Chaltén where you will find the Los Glaciares National Park or the impressive Patagonia. We recommend you travel in the first half of December, so you will avoid school holidays. The prices are lower and the places less crowded.

Chile has many tourist sites for all tastes. Every year it attracts thousands of tourists from various parts of the world. The weather in December is perfect for enjoying its virgin beaches or cities that offer a wide range of entertainment, such as Santiago de Chile. In the northern part you can find the Atacama Desert, and to the south the Tierra del Fuego area, with beautiful natural wonders such as Payne's Towers.

In our list, Colombia and Peru cannot be missing, two of the countries most desired by foreigners, due to their affordable prices, gastronomic diversity and unique cultural heritage. Within Colombia, cities like Medellín, Cali, and Bogotá offer a variety of plans for travelers to spend this December season. If what you are looking for is to rest by the sea, there is Cartagena, Santa Marta, Nuquí or Parque Tayrona.

Peru, for its part, despite the fact that its currency has managed to appreciate against the dollar, is a country that adapts to different budgets. Its capital, Lima, is famous for its exquisite gastronomy and its mix between the historical and the modern. Also, of course, the city of Cusco, where you will find archaeological remains, colonial architecture. From there, with a little more money, you can visit Machupichu and the Mountain of seven colors, the best thing is its varied accommodation offer and the warmth of its people.

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Other very interesting and not so usual destinations, but worth exploring, are found in countries of Central America and the Caribbean. El Salvador, Honduras, Guatemala, Nicaragua and the Dominican Republic are an excellent option with paradisiacal beaches, nature, water activities and delicious food at mostly affordable prices. According to a study by the Economic Commission for Latin America and the Caribbean (ECLAC), the outlook for these countries is encouraging. Their economies will grow an average of 4.5% at the end of this year, which is 1.8 points more than the average for other Latin American countries.

For those with more budget

Brazil and Mexico are two very attractive destinations for visitors from around the world, due to their great diversity of attractions and spectacular sites, which receive millions of tourists throughout the year. While other Latin American currencies have hit record lows, the Brazilian real and the Mexican peso have maintained their purchasing power, so you should raise your budget if you want to travel to these places. Finally, we highlight the island of Cuba and Ecuador. To visit them, you will need to calculate your expenses according to the exchange rates, Euros, or dollars for Cuba and dollars for Ecuador.

The difficult economic environment, with high inflation and rising oil prices, aggravated by the war in Ukraine, remains the biggest thorn in the side of tourism recovery, according to the World Tourism Organization (ILO). However, the sector has proven to be resilient, after facing the crisis of the Covid-19 pandemic, by 2023 the experts are cautiously confident. In this context, reserving tickets and planning your trip in advance will be the most convenient for your pocket.