A recent report by Insider Monkey, a stock advisory firm, has ranked Belize and Barbados as the two most affordable destinations in Latin America for travelers from the United States. The report, which highlights the top 15 “cheapest Latin American countries to visit”, shares insight on various aspects of the regions tourism industry, including top ranking travel companies (like AirBnB) and Royal Caribbean Cruises; and observations on how the industry is expected to grow in the coming years.
Cheapest Latin American Countries for US Travelers to Visit
Barbados. Photo by Kathryn Maingot on Unsplash
According to Insider Monkey, their ranking was put together using a consensus methodology, taking into account 10 different sources and how they ranked the affordability of various countries. They then checked the average flight fares and accommodation costs in each of the countries using Kayak (as of March 2024).
The rationale for using this metric was that flight and accommodation are inevitable costs of any visit, therefore, it can help gauge which of these places is the cheapest to visit.
Explaining their method further, the firm noted, “The flight fares are round-trip, one person, with the starting location being Newark, New Jersey, to the capital city of the destination country. For the accommodation costs, we looked up options for a two-person room with more than 6 ratings in the capital cities.”
Rounding out the top 15 list was Costa Rica, with a flight fare of US $723 and accommodation cost of US $152.
Similar: Belize’s Tourism Industry Is on the Up and Up Says BTB in 2023 Review
Belize ranked second on the list, with the firm writing “Belize is a captivating destination known for its diverse natural beauty, rich cultural heritage, and adventurous experiences.”
Photo by the Belize Tourism Board
Insider Monkey’s top 5 cheapest Latin American countries for US travelers to visit are:
- Barbados
- Belize
- Aruba
- Dominican Republic
- Ecuador
According to the firm, the average flight cost to Belize at the time of writing was US $411 and the average accommodation cost US $199. And, at number 1 was Barbados with an average flight fare of US $411 and accommodation cost of US $170.