Incredible wildlife? Absolutely. Rich cultural diversity? Without a doubt. Endless adventure? Definitely. South America checks every box—and the best part? It does so without draining your wallet. Whether you’re envisioning a hike through the Amazon or the Inca Trail, sipping coffee in Colombia or wine in Argentina, these are the most budget-friendly countries in South America for students and budget travelers. Each one offers once-in-a-lifetime experiences at prices that will leave you amazed. By the end of this guide, you’ll understand why South America is one of the most affordable continents to visit.
Before You Pack Your Bags, Consider These Tips to Keep Costs Low:
Exchange Rates: You may notice Venezuela and Suriname are missing from this list. While they are technically inexpensive, extreme inflation makes it challenging to predict or manage a budget while traveling there.
Safety: At Workaway, safety is a priority. South America often gets an unfair reputation for danger, partly due to the way drug cartels have been portrayed in media like Netflix’s Narcos. However, the reality is more nuanced. Like anywhere else, some places are safe while others should be avoided. Use common sense, follow your instincts, and most importantly, ensure you have travel insurance. It can cover stolen belongings, medical emergencies, and travel delays—an initial expense that can save you a fortune later. Learning basic Spanish will also help if you need assistance from locals.
Weather: Since climates vary greatly between regions, there isn’t a single “cheapest” time to visit. Traveling during the shoulder season (between peak and low seasons) is your best bet for affordability and favorable weather.
Food: Many of South America’s most affordable destinations offer almuerzos—set lunch menus including a starter, main dish, and drink at budget-friendly prices. These meals not only let you experience local cuisine but also make budgeting easier.
Travel Style: Keep in mind that “cheap” is subjective. A dorm room or budget-friendly meal may seem affordable to some travelers but expensive to others. Some may prefer to splurge on private rooms or group tours for socializing, while others prefer minimal spending. Your travel habits will shape your expenses, so consider this when researching South America’s most budget-friendly spots.
1. Colombia
Colombia is frequently rated one of the best budget travel destinations in the Americas thanks to its dynamic culture, breathtaking landscapes, and warm locals. The country boasts 10% of the Amazon rainforest, the start of the Andes Mountain range, bustling cities like Bogotá and Medellín, and stunning coastlines along both the Caribbean and the Pacific. It’s a paradise for surfers, jungle explorers, and urban adventurers alike.
For an affordable yet immersive experience, venture off the beaten path. Whether trekking through the mountains, following the coastline, or exploring deep jungle regions, the most rewarding adventures are often the hardest to reach. Workaway can help by connecting you with local communities where you can experience authentic Colombian life beyond what’s depicted in mainstream media.
While Colombia is one of the most budget-friendly countries in South America, it’s not always considered the safest. Crime is a concern, but the situation is improving, and most travelers enjoy incident-free visits. Stick to well-known areas like Cartagena and Medellín, avoid displaying valuables, inform someone of your whereabouts, and choose reputable accommodations.
Volunteer Opportunities in Colombia:
Colombia is an excellent place to explore off-grid living. The ecotourism movement is thriving, with locals embracing sustainability, permaculture, and organic farming. Volunteer opportunities range from reforestation projects to animal conservation and eco-construction.
Budget Hostel: $12 dorm bed / $30 private room
Local Beer: $1.00
Budget Meal: Street food: $3-$5 USD (cheaper in rural areas)
2. Paraguay
Despite its affordability, Paraguay is often overshadowed by its larger neighbors—Brazil, Argentina, and Bolivia. This landlocked nation is split into two regions: the western Gran Chaco (the largest dry forest ecosystem in South America) and the lush eastern wetlands of the Pantanal.
With a population of 7 million—2 million of whom live in Asunción—Paraguay remains relatively undiscovered by tourists, making local encounters warm and authentic.
Paraguay is generally safe, but pickpocketing can occur if valuables are visible. The greatest safety concern here, however, is motorcycles. Like in parts of Asia, motorbike accidents are common due to risky driving and a lack of helmets or lights.
Volunteer Opportunities in Paraguay:
Paraguay is a fantastic destination for teaching languages. Spanish and Guarani are the national languages, but German, English, and Portuguese are also spoken in some areas. Environmental volunteers are also needed, as Paraguay has one of the highest deforestation rates in the world.
Budget Hostel: $12 dorm bed / $30 private room
Local Beer: $1.50
Budget Meal: Street food: $2-$3 USD, 3-course restaurant meal: $10
3. Peru
Peru draws nearly four million tourists annually, primarily for its breathtaking hikes and world-renowned cuisine. From Machu Picchu to the Nazca Lines, its rich Inca heritage makes it one of the most fascinating yet budget-friendly destinations in South America.
Despite its affordability, Peru boasts a vibrant food scene. Look out for almuerzo specials featuring ceviche (citrus-marinated fish), lomo saltado (stir-fried beef), and even cuy (roasted guinea pig).
Petty theft is common in tourist hotspots, so opt for reputable bus companies and tour agencies—the cheapest option isn’t always the safest.
Volunteer Opportunities in Peru:
Machu Picchu can be visited on a budget with Workaway! Many hosts in the region exchange accommodation for help with marketing, hospitality, or eco-projects.
Budget Hostel: $5-$10 dorm
Local Beer: $2.00
Budget Meal: $5-$8
4. Ecuador
Though small, Ecuador offers extraordinary diversity. You can have breakfast by the beach, lunch in the Andes, and dinner in the Amazon rainforest—all in one day.
While the Galapagos Islands aren’t cheap, Quito is among the most affordable capital cities in South America. For an Amazon adventure on a budget, head to Tena, or explore the Quilotoa Loop for an authentic rural experience.
Ecuador has recently become safer for travelers, but it lies in a seismic zone, so be aware of potential earthquakes or volcanic activity.
Volunteer Opportunities in Ecuador:
From eco-farms in the Amazon to English teaching in the city, there are plenty of immersive experiences available.
Budget Hostel: $10 dorm / $20 private room
Local Beer: $2.00
Budget Meal: $13 for a 3-course meal
5. Bolivia
Bolivia is both one of the cheapest and safest countries in South America. From the surreal Salar de Uyuni salt flats to the turquoise waters of Laguna Verde, it’s a paradise for budget travelers.
For adventure seekers, North Yungas’ Death Road is an adrenaline rush—but be cautious, as hundreds of cyclists lose their lives on this route each year.
Volunteer Opportunities in Bolivia:
With over 50 hosts, opportunities include wildlife conservation and permaculture projects.
Budget Hostel: $6-$9 dorm
Local Beer: $1.50
Budget Meal: $1-$8
6. Argentina
Argentina might surprise you as a budget destination, but with cheap wine, affordable hostels, and the option to hitchhike, it’s accessible to travelers on a shoestring.
Volunteer Opportunities in Argentina:
Opportunities range from dance and music projects to farm stays and sustainability initiatives.
Budget Hostel: $10 dorm
Local Beer: $1.70
Budget Meal: $5
No matter your budget, South America offers adventure without breaking the bank—plus priceless memories. 😉