In general, a year of travel across the world should cost between $20,000 and $30,000 per person. This preliminary estimate is based on reading other bloggers' trip budgets, numerous travel planning resources, and our own experience. Of course, the amount you spend will depend on how long you stay away from home and what kind of lodging you choose.
The first thing you need to understand about traveling around the world is that it's not cheap. Even with the help of student discounts and travel grants, spending a whole year on the road still requires serious money. The next step is determining how much you can afford to spend. When you start planning your trip, make sure you consider how much you want to spend and be realistic about your ability to pay. If you think you'll need all the money you earn during your trip, don't plan it like this - instead, try to save as much as you can.
Now that you have an idea of how much your trip is going to cost, you need to decide how to raise the money. There are many ways to do this, but one of the most popular choices is by taking out a loan. You should look into the various loans available before you leave so you know what kind of interest rate you can expect and whether or not they fit into your budget.
For the sake of argument, let's say a pleasant RTW year-long journey costs $24,000 per person. When broken down monthly, a round-the-world journey will cost one person roughly $2,000 each month, taking everything into account. For many people, being on the road is less expensive than staying at home. However, for those who need to make money on their travels or save up for a future endeavor, it can be difficult to come up with that much money every month.
The good news is that you don't have to spend that much to have an amazing travel experience. A typical RTW trip involves traveling in countries where the currency is stronger and more stable than the U.S. dollar, which makes imports cheaper. These countries also tend to have lower travel prices overall so a RTW traveler can afford to spend more on food, drink, and entertainment than someone who stays in North America.
That said, a lot of factors go into determining how much a trip will cost. Where you plan to stay, when you plan to leave, how long you intend to be on the road, these are all important decisions that will affect your overall budget. If you want to know more about possible budgets for a RTW trip, keep reading!
Also worth mentioning is the effect of tax laws on travelers' finances.
Our car journey across America cost us $2,382, or an average of $149 per day for the two of us over a 16-day period. It's more than the $125/day budget we set for our USA road trip, but we're not cursing ourselves. The price of gas has been low, so we've been able to travel far on less money than we expected.
If you plan ahead and prepare intelligently, a cross-country road trip can be as affordable as you want it to be. Accommodation costs will vary depending on where you stay but don't expect to spend less than $100 per night in any city center. You'll also need to factor in the cost of food and entertainment. Are you taking advantage of free things to do in all those cities along the way? If so, even better!
We knew going in that we wouldn't be able to stick to a strict budget because some expenses are inevitable, such as gas prices. But if you know what you're going to spend then you can plan around it. For example, if you realize at the end of your first day on the road that you're out of cash, it's not too late to stop by a Walmart before heading back home. They won't charge you for this transaction when you return the key, giving you enough money for gas the next day.
If you're going alone, you'll need to divide the total by two people.
If you plan to travel across the United States by car, consider how long you expect to be in each state and calculate the cost of gas and insurance per state. Also keep in mind that the more miles you put on your car's engine the higher your costs will be. Finally, don't forget about tolls! They can add up quickly if you drive through them regularly en route from place to place.
The best way to avoid excessive cost is to fly when possible. You may not like having to check bags or not have enough space in the plane's overhead compartment but this will save you some money. The other option is to take a bus tour which will also let you see more of the country. But be aware that these can be quite expensive too.
Finally, don't forget about taxes! When driving across country, make sure you know what laws apply to you and your vehicle. For example, all vehicles are required to carry liability coverage, but some states require only young drivers to also carry personal injury protection (PIP).
Most people choose for a four-day, three-night trip, which costs roughly $700 or more per person. A day walk may also be done for roughly $150. The price varies depending on how many people are traveling with you and how long you intend to visit each site.
The total cost of your trip will depend on how many sites you visit and how long you spend at each one. If you only visit the seven wonders that do not include the Vatican City or Petra, then you can expect to spend around $100-$200 for a three-day trip.
The average price of a tour to all 14 sites is $80 per person, but there are great deals to be had if you shop around online. For example, a company called Trafalgar Tours offers daily tours from London that include transport, entry fees, and guide services. The cost is roughly $1,000 per person.
If you have your heart set on seeing the Vatican City and Petra, then you will need to add another night to your trip. This will increase the overall cost by about $50 per person.