So we all know the world economy stands on the frightening precipice that could lead to something much worse in the not too distant future, but finally there is some really good news for Americans who find themselves with a bit of time off (one way or another) and who have a bit of money available. After seeing our dollar become the punching bag of every other currency for the past couple years, out of nowhere it’s gained new strength as what many investors consider a “safe haven” in uncertain times.

Traveling to Europe has gotten reasonable again, and our traditional exchange-rate advantage with Canada is back to some degree, so those places are back in play for Americans. But the news is even better elsewhere, as quite a few countries that had become a bit pricey for us are suddenly bargains. The timing on quite a few of them is even better in that they are in the Southern Hemisphere so the next few months is the ideal time to visit anyway. There’s no telling just how long this will last, and things might even improve more for Americans in the short run, but for now these are some of the better places you should be considering.

Australia

Bondi Beach, Sydney
Bondi Beach, Sydney

July, 2008 – AU$1.02 to US$1
November, 2008 – AU$1.50 to US$1

Costs for most things in Australia had gotten quite high for Americans during the past few years, and in mid 2008 things had really gotten out of hand, but suddenly the tables have turned and Oz now (barely) qualifies as a budget destination for Yanks. Budget hotel rooms in Sydney that would cost around US$90 can now be had for around US$60 per night, and nicer 2- and 3-star tourist hotels can now be yours for around US$80 per night, which is noticeably cheaper than most American cities that are nowhere near as nice as Sydney.

To make things even better, airfares have suddenly and mysteriously dropped as well. A roundtrip from Los Angeles to Sydney has been running a bit over $1,000 for many years now, but all of a sudden fares as low as $742 have appeared. Australia certainly isn’t as cheap as most of the others on this list, but if you’ve been wanting to go this is the perfect combination of events that should get you started, and of course their summer is fast approaching to make things even better.

Iceland

Blue Lagoon, Iceland
Blue Lagoon, Iceland

July, 2008 – 75 Icelandic Krona to US$1
November, 2008 – 120 Icelandic Krona to US$1 (unofficial, see explanation)

Iceland has notoriously been one of the most expensive places in the world for tourists, but due to its recent banking collapse it’s suddenly a bargain and many are now flocking in to take advantage of a situation that is still a bit up in the air. International trading of the Icelandic Krona has been suspended since October 6, so it’s a bit difficult to figure out exactly where things stand at the moment, but previous searches have shown that finding a hotel room in Reykjavik for under US$100 was virtually impossible, and now we are seeing one hotel on the outskirts of the city with rooms for US$19, and many more choices in the US$30 to US$50 range. Beers that were recently well over US$10 apiece in downtown bars are now reported to be in the US$4 range for those fortunate enough to be there now.

Flights from the east coast of the US are starting under $500 these days, and even though the days are short and getting shorter now, the winter weather isn’t nearly as harsh as most people expect, with average temperatures similar to those in New York City. The famous Blue Lagoon thermal pool is always warm, so now might be an ideal time to check out a country that has been on the ‘outrageous’ list for decades.

South Korea

Gyeongbokgung Palace, Seoul
Gyeongbokgung Palace, Seoul

July, 2008 – 998 Korean Won to US$1
November, 2008 – 1,260 Korean Won to US$1

South Korea has long held a spot somewhere between the insanity of Japanese prices and the affordability of its neighbors to the west in Asia, but now suddenly our money goes more than 25% further. The exchange rate briefly hit 1,467 just a week ago, which gave us an almost 50% bonus, so this one might go further in our direction again. This is a modern country, and its giant capital of Seoul has all the modern amenities that you could want, so budget hotel rooms under $40 and business-class rooms around $75 per night are real bargains.

Flights from Los Angeles can be had for around $830, and flights from New York are starting around $960 at the moment. Especially now, it’s fairly cheap once you get there, so if you can find a flight that works this might be the ideal time to see this country that is becoming more popular with globetrotters every year.

Argentina

9 de Julio Avenue, Buenos Aires
9 de Julio Avenue, Buenos Aires

July, 2008 – 3.02 Argentine pesos to US$1
November, 2008 – 3.40 Argentine pesos to US$1

While the currency-rate shift hasn’t been quite so dramatic in Argentina, the important thing to know is that Argentina has been a major bargain for a while now, and it’s just gotten a bit better. The country artificially held its money at 1-to-1 with the USD for many years before a banking collapse led to the 2002 decision to let the peso fluctuate, which suddenly gave foreigners about a 70% discount on everything. Inflation since then has slowly chipped away at the advantage, but the country is still a huge bargain, and now even a bit cheaper.

Buenos Aires, sometimes called the Paris of Latin America, is considered one of the nicest cities in the world by its many fans, and comfortable hotel rooms with good locations aren’t difficult to find in the US$50 per night range, and an excellent steak dinner can be found starting well under US$10, with a bottle of quality local wine around US$6 at the same restaurant. Most of the rest of the country is even cheaper, and there are many highlights to explore once you leave the big city. Flights from New York and Miami start around $850 roundtrip, and around $950 roundtrip from Los Angeles.

New Zealand

Queenstown, New Zealand
Queenstown, New Zealand

July, 2008 – NZ$1.30 to US$1
November, 2008 – NZ$1.70 to US$1

New Zealand is “on the list” for nearly every serious traveler who hasn’t yet made it, and it’s hard to find anything but raving reviews from those who’ve visited before. It’s always been a bit cheaper than nearby Australia, and that trend continues, with both of them becoming weirdly affordable due to the strange exchange-rate movements of late. When you go it’s really not wise to linger in the largest city of Auckland, but a hotel there can now be found in the US$50 to US$60 price range on the budget end, and not too much more for something quite nice. Lakeside resorts in the South Island tourist haven of Queenstown are now starting around US$80 per night, but most every other tourist spot in the country is even cheaper.

The trick for visiting New Zealand is to rent a car or campervan, and get out into the gorgeous and varied scenery that covers both islands. With fuel prices coming back down, and cabins or campsites at the many holiday parks now cheaper than ever, the whole place is very reasonable once you get there. Just as with Australia, flight bargains have also appeared out of nowhere, and a roundtrip from Los Angeles can now be found for around US$750, though these bargain fares might be gone soon.

Brazil

Sugarloaf Mountain, Rio de Janeiro
Sugarloaf Mountain, Rio de Janeiro

July, 2008 – 1.55 Brazilian Real to US$1
November, 2008 – 2.17 Brazilian Real to US$1

There’s much more to this huge country than Rio de Janeiro and its famous beaches of Copacabana and Ipanema, and Brazil has always been fairly affordable for Americans, at least once the plane ticket is paid for. But the currency had been gaining strength against the greenback for more than 4 years straight until the recent shift that has put the whole country solidly back into the “bargain” category. Hotels in Rio have never been all that cheap, but now you can find a good budget place in a good location in the US$50 to US$60 range again, and most all other expenses for food, drinks, entertainment, and attractions are all quite reasonable.

Of course, most of the rest of the country is even cheaper than Rio, so it’s wise to move around and take in other aspects of the country when you are flying so far in the first place. Flights from either Los Angeles or New York to Rio can be found in the $750 neighborhood these days, and of course it’s spring there now and their high season is approaching, so this could be a great winter getaway instead of Hawaii or the Caribbean.

Mexico

Cancun, Mexico
Cancun, Mexico

July, 2008 – 10 Mexican pesos to US$1
November, 2008 – 13 Mexican pesos to US$1

Mexico hasn’t suddenly become a bargain, as it’s pretty much lived on the bargain list all its life, but as you can see the USD now goes about 30% further than it did just a few months ago. The trick here is finding hotels that don’t already base their rates on US dollars, but either way prices that were reasonable before should be even lower now, and of course most of your expenses on food, drinks, entertainment, and souvenirs are now more affordable than they’ve been in at least 5 years. With winter approaching and so much worldwide economic uncertainty we’ll be looking for great specials at some of the more popular resorts that will probably find themselves with more empty rooms than they know what to do with.

Flights from the US to Mexico have also been traditionally reasonable, and nothing has changed there. You can fly roundtrip from either Los Angeles or New York to Mexico City or Cancun starting in the $300 to $350 price range, even as their high season approaches.

South Africa

Lion Sands Game Reserve
Lion Sands Game Reserve

July, 2008 – 7.2 South African Rand to US$1
November, 2008 – 10 South African Rand to US$1

Never known for being especially cheap for Americans, South Africa has always lived on its reputation of great beaches, excellent nature reserves, safari parks, winery tours, golf resorts, and much more. But now it’s pretty cheap for Americans as well. The exchange rate has been lingering in the 6 to 7 Rand per USD range for many years now, so you can imagine how nice it must be when you are getting 10 Rand for every greenback. This is another Southern Hemisphere destination that is weirdly cheap at the perfect time of year for Americans looking for a new adventure. Nice hotels in Cape Town are starting in the US$60 to US$80 range now, and of course most of the rest of the country will come in below that.

Not surprisingly, the tricky part of visiting South Africa is the flights part. You’ll have to change planes at least once, probably in Senegal or in Europe, and the combination of flights will eat up around a full 24 hours, even if you get good connections. Right now flights from New York to Cape Town are starting around $1,100, and from Los Angeles around $1,300.

Top 10 Destinations for 2008. The writers and editors of this global travel information and resource site have compiled ten great destinations that combine history and culture with value for travelers who prefer to arrange their own trips and challenge themselves in the most fascinating places in the world.

You’ll read a lot about “hot” destinations at any given time, and often by the time you’ve read about a place that means it’s suddenly overrun by visitors and its prices are rising while its quality is waning. We’ve done our best to include destinations that are timely but also should be solid choices for years to come.

Buenos Aires
Buenos Aires, Argentina

10 – Buenos Aires

One of the nicest European cities of all is actually in South America. After its currency collapse in 2003, this gorgeous place got embarrassingly cheap for foreigners, but that won’t go on forever, so don’t wait too long. Vegetarians may find beef-obsessed Argentina a bit challenging. It won’t be a deal-breaker, though, as this cosmopolitan city has something for everyone, including a diverse nightlife scene that usually goes until dawn or later. Brush up on your español before you go – it will help you experience the city more completely.

Budapest
Budapest, Hungary

9 – Budapest

The capital of Hungary is one of the most beautiful cities in the world. Unlike some other Eastern European destinations, visiting is still very cheap compared to the West. The old town district of Castle Hill is a highlight of this huge city, and the hearty portions of the paprika-accented food win over most who try it. You can spend days just admiring the classic architecture, but the city is also an excellent place to begin an exploration of the many historic Hungarian villages nearby.

Marrakech
Marrakech. Morocco

8 – Morocco

This moderate Muslim country is easily visible and quickly reachable from the southern coast of Spain, but it feels a world away. Quickly pass through the “border-town” city of Tangier and on to Rabat, Fes, or Marrakech for a pleasant cultural shock on a backpacker’s budget. Choose Fes or Marrakech, and add in a smaller city to escape the constant tourism push, but skip the chaotic capital of Casablanca. For those with a bit more time, trekking the Atlas mountain ranges makes for an unforgettable adventure mixed with a cultural experience that contrasts nicely with Morocco’s bustling cities. Even for independent travelers, a tour using a local guide can be a great way to see all the magical parts of Morocco and avoid its often frustrating tourist traps.

Chiang Mai
Chiang Mai, Thailand

7 – Chiang Mai, Thailand

This walled city in the Himalayan foothills is 700 kilometers north of Bangkok and is known as the gateway to northern Thailand. Over 300 Buddhist temples in all different styles dot the area, with the 13th century Wat Chiang Man being the oldest. An important trading center for many centuries, there’s plenty to do during the frequently steamy days. The famous Night Bazaar with its bargain crafts and fashions is the place to spend the cool Chiang Mai evenings. The fact that hotel rooms start around US$5.00 per night, and traditional Thai mini-resorts can be found for not much more, only sweetens the deal. This is a great place for a minor splurge for long term travelers in Southeast Asia.

Ethiopia
Imet Gogo, Ethiopia

6 – Ethiopia

Forget what you might have thought about Ethiopia before, this large East African country is not depressing or completely parched. A growing tourist infrastructure is making it easier to discover for adventurous travelers. Having never been colonized, Ethiopia has its own fascinating history and culture, which mix nicely with one of the most impressive networks of well preserved national parks in the world. The Omo Valley in the east provides an unforgettable look at African tribal life today. Hotels in Ethiopia start under US$10.00, but luxury is available if you’ve got the money.

Queenstown, New Zealand
Queenstown, New Zealand

5 – Queenstown, New Zealand

Anyone who has been to New Zealand knows that Queenstown is the tourist mecca of its South Island. During winter the city is filled with snowboarders and skiers; for the rest of the year, the Bungee-jumping and adventure-travel crowd moves in, so the nightlife is good year round. This postcard-perfect mountain city on a lake is also so charming that you’ll want to move there before you even reach the center of town for the first time. You can have a great visit using public transportation, but if you’ve rented a car or campervan, your possibilities for exploring the area greatly increase. Queenstown is not terribly cheap, but it’s not a budget buster either.

Sicily
Palermo, Sicily

4 – Sicily

This endlessly scenic island off Italy’s toe has its own ancient culture and even its own language, but in some ways it’s also more intensely Italian (and noticeably cheaper) than the main tourist cities in the north. The plentiful seafood is both exotic and simple, and the abundant vineyards ensure the wine keeps flowing at a very reasonable price. Check on the bustling capital of Palermo or the beach resort/fishing village of Cefalù at any time, except the sweltering and steamy summer. Ancient Greek ruins can be found in many areas and Mt. Etna – Europe’s largest active volcano – is easy to explore as well.

Petra, Jordan
Petra, Jordan

3 – Jordan

The Middle East can sound scary and that helps keep Jordan from being overwhelmed with tourists, but this safe and welcoming country where most people speak some English – eco-tourism is quickly catching on – offers a fascinating look at the region with surprisingly few headaches. Don’t linger in the modern capital of Amman. Instead, spend a couple of days in the ancient city of Petra and another couple checking out the stunning desertscapes of Wadi Rum. Spring and fall are the best times to visit, but brave visitors are welcome all year round. As long as things remain stable in Jordan, it’s bound to start getting crowded in years to come.

Belize
Placencia, Belize

2 – Belize

This tiny English-speaking Central American country feels frozen in time, but in a very good way. Paved roads are a rarity on the popular tourist islands where most visitors go. Belize has world-class scuba diving, snorkeling, fishing, sailing, sea-kayaking, cave-tubing and jungle expeditions, mixed with fascinating Maya culture. It’s one of the cheapest Caribbean resort destinations now, but don’t wait too long. Developers and even celebrities have caught on (Leonardo DiCaprio is building an eco-resort on a private island in Belize and Francis Ford Coppola already owns a couple of places), so it won’t be this way forever.

Nepal
Kathmandu, Nepal

1 – Nepal

Most famous for being home to half of Mount Everest, there is a lot more to do in this ultra-photogenic country than follow a Sherpa into the sky. Trekking adventures for all skill levels are available throughout Nepal, and crowds still tend to be minimal for now. Check out some Bengal tigers, elephants and Indian rhinos during a guided jungle tour in the Royal Chitwan National Park, a UNESCO World Heritage Site. The capital of Kathmandu – which dates back to the 8th Century AD – is filled with temples, but also has a sturdy tourist infrastructure. Hotels for under US$10.00 per night are easy to find, but so are international business-class hotels for those with deeper pockets.