Choosing a Place to Travel based on Cost


Outline

  1. Overvalued and undervalued currencies
  2. Ten common countries in the cheapest countries listings
  3. Least expensive destination in the Eastern Hemisphere
  4. Least expensive destination in the Western Hemisphere
  5. Safety Factor
  6. What do you think of the Leffel quote

Overvalued and undervalued currencies

Using the formula in the Big Mac Index interactive site, how much is the Big Mac overvalued in the most expensive country, and how much is it undervalued in the least expensive? Which countries would be the cheapest for travel, and which would be the most expensive based on this index?

Switzerland is the most expensive costing $6.57 and Egypt is the cheapest costing $1.75.  Only 2 countries cost more than the US being, Swizterland and Sweden.

Ten common countries in the cheapest countries listings

Read the Leffel chapter and the other links provided to derive a list of the 10 cheapest countries for travel.

Based on the link I could find these very cheap destinations to travel: Vietnam, India, Nepal, Peru, El Salvador, Hungary, South Korea and Thailand.  Then there are some places are very cheap to travel to because they are so dangerous like Columbia and Yemen.

Least expensive destination in the Eastern Hemisphere

From this list, the Big Mac Index and the most inexpensive airfares, find the least expensive destination in the eastern hemisphere for a three-week trip. What criteria did you use to select the country? Insert airfare graphic that shows how you would get to the country. Insert a graphic of an inexpensive lodging. What would be the total cost of the 3-week trip? (The idea here is that cheap lodging over three weeks will counter a more expensive airfare. So, look for the cheapest lodging and find a moderate airfare to that location.) Estimate daily food costs.

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Flight to Bangkok – $736.53

Lodging – 9x21 = $189

Food – 3 meals x $4 x 21 days = $252

Total – $1177.53

 

Least expensive destination in the Western Hemisphere

From this list, the Big Mac Index and the most inexpensive airfares, find the least expensive destination in the eastern hemisphere for a three-week trip. What criteria did you use to select the country? Insert airfare graphic that shows how you would get to the country. Insert a graphic of an inexpensive lodging. What would be the total cost of the 3-week trip? (The idea here is that cheap lodging over three weeks will counter a more expensive airfare. So, look for the cheapest lodging and find a moderate airfare to that location.) Estimate daily food costs.

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Flight to Colombia - $574

Lodging – $18x21= $378

Food – 3 meals x $4 x 21 days= $252

Total - $1204

Safety Factor

Consider the safety factor in the destination you have chosen. Take a look the Global Peace Index rankings (A ranking of countries based on the Peace Index begins on p. 8.) Which country would be the safest? Where is the United States ranked? Where do your chosen countries rank?

Iceland is First, US is 121 (didn’t expect that), Thailand is 113 and Colombia is 145.  I think it’s kinda scary that the US is so far down the list and actually want to visit Iceland to see what it’s like compared to here.

What do you think of the Leffel quote:

"You'll learn far more than you ever did at a university.
Remember the old days when people got a liberal arts education? They went to Oxford or Princeton to learn about history, politics, social studies, geography, religion, foreign languages, and economics. Well you'll learn far more about all those things by traveling than you ever can in college. Ask anyone in their 30's how much they remember about these subjects from their university classes. "Not much" will usually sum it up."

I completely agree, when people go on a study abroad somewhere around the world, they learn so much more and retain the information for it being such an experience they won’t forget.  Physically engaging is what keeps it in your mind rather than reading about it in a text book.


Submitted by Zach Coartney on 2-22.