The cost of just about everything seems to be spiking right now, but for wanderlusting Americans, a vacation doesn’t have to be one of them. That’s because travelers can plan their trips to international destinations with favorable exchange rates — or in other words, places where the US dollar has more purchasing power.

In fact, according to TD Bank’s 2024 Travel Survey, nearly 90 percent of Gen Z and millennial travelers say that exchange rates play a role in their vacation decisions. Instead of choosing a country to visit based on trends or even bucket list items, more people are researching which places will allow them to get more bang for their buck, leaning on tools like foreign exchange calculators and resources like fee-free debit cards to limit excessive spending. 

If you make it a point to be strategic while planning a trip, you’ll give yourself the opportunity to be spontaneous while you’re there without worrying about your budget. Ahead, find five countries to visit where your money goes further.

Mexico

In Mexico, the US dollar has a very favorable exchange rate, which means everything from hotels to dinners out will feel like a bargain. Plus, roundtrip nonstop flights can be found for less than $400.

Millennial traveler Adrienne Breaux traveled to Mexico with her husband twice last year. She says she never had to choose between splurging on a memorable experience or settling for a budget option because prices felt so much lower compared to similar activities in the US.

“We took a guided tour to Teotihuacan archeological site, spent a memorable day floating on a rental boat in the Xochimilco canals, ate meals at world-renowned restaurants, and sipped cocktails at award-winning bars,” she says. “I honestly think we enjoyed ourselves extra because we weren’t fretting about whether an experience was worth the money we spent.”

A cortado from a charming cafe converts to about $2.50, while Airbnbs in the heart of lively neighborhoods can range from $50 to $90 per night. “Even small comforts like grabbing an Uber after a long day never felt like a financial trade-off,” Breaux adds. “I’d convert pesos to dollars and just be thrilled every time.”

Hungary

Hungary flies under the radar as a memorable European getaway, with exchange rates that feel too good to pass up. This can allow you to splurge on lodging, museums, and thermal baths without a second thought. Hotels in Budapest, for example, range anywhere $50 to $150 per night. Even a stay at a five-star hotel comes to about $250 per night. Museums and thermal baths, meanwhile, range from roughly $9 to $25 to enter.

To pinpoint the current exchange rate in Hungary or another country, you can rely on TD’s Foreign Exchange Calculator. Simply enter the amount of US dollars you’re looking to convert, then select the appropriate country and currency, or vice versa. You can use this tool while you’re budgeting for your trip — and while you’re out and about — to see what a night in a hotel might cost or how much that extra snazzy souvenir will actually set you back. 

Portugal

As one of the world’s hottest tourist destinations right now, Portugal is enormously popular with US travelers. It’s also often ranked one of the most affordable destinations in Western Europe. Here, the country’s budget-friendly nature goes beyond the exchange rate. It’s the general cost of things that is lower in Portugal, with a meal at a mid-range restaurant in Lisbon, the country’s capital, coming in at roughly $25. 

“Since one of the big expenses I have when traveling is usually eating out, that’s where I see a difference,” says Molly Donahue, another millennial traveler. 

Street food is even more affordable, as is public transportation via tram. Another budget-friendly win? Admission to Lisbon’s famed botanical garden is 3 euros, or just a few American dollars. And if you take the train to the city of Porto, meals and hotels are even further discounted, with the average cost of one night in a hotel coming in at $100. You can take a tour of a port wine cellar here for about 15 euros, or approximately $17, to boot.

Brazil

Public transportation and dining across Brazil are typically affordable, with the majority of rides in Rio De Janeiro costing less than a dollar and dinners less than $20. Plus, plenty of popular attractions have low or no entrance fees, like the famous Copacabana and Ipanema beaches.

When paying for meals, hotels, experiences, and beyond while abroad, it’s worth using a mix of cash and card purchases. It’ll work in your favor to get $50 to $100 per day in local currency before you leave, as the exchange rates at your bank are typically better than at the airport or other touristed spots. You can also withdraw cash once you get to your destination, but you might be subject to ATM fees. One of the best ways to avoid those fees is to invest in a debit card that waives them.

“I always withdraw currency at a bank ATM once I arrive with my amazing debit card that reimburses my ATM fees worldwide, no matter which bank branch,” says Kelsey Glennon, a millennial travel writer. “It also gives me the best and most up-to-date conversion rate at the time of withdrawal.”

Japan

The Japanese yen has fallen over the past few years. Such a favorable rate has opened up the country to many American travelers, where you can find affordable food, drinks, and souvenirs. 

Sushi, among other dishes, is what Donahue looks back on fondly. “Sushi is so expensive in the US, and the quality isn’t awesome,” she says. “But it was so reasonable in Japan, and so good!”

One way to plot out how much you expect to spend on meals, lodging, and other trip costs per day is by using a cost-of-living tool like BudgetYourTrip. It estimates how much you’ll likely spend with breakdowns for certain spending categories. For a Japan trip, BudgetYourTrip estimates a budget of $150 (or roughly 22,000 yen) per day.

“I also ended up staying at an onsen resort for three days, which is not something I’d usually splurge on,” Donahue adds. “Even though it wasn’t cheap, it was a lot less expensive than the same experience would have been in the US.”