Travel is expensive. Between flights, hotels, meals, transportation, and the barrage of tourist traps, it is hard to keep to a strict budget when traveling in a different country.
However, it's even harder if you don't do your due diligence.
In the recently published 2015 Travel and Tourism Competitiveness report, the World Economic Forum ranks 141 world economies based on the price competitiveness of each, or how cheap/expensive it is to travel in that country. This takes into account things like average cost of a flight to and from that area, average cost of hotel accommodations, cost of living, fuel prices, and purchasing power parity (PPP)*.
Knowing the costs of visiting an area can make all the difference between traveling sensibly and hitchhiking back to the airport.
Note: Hotel and gas conversions are based on the US dollar and information from the World Bank and are subject to change. PPP is relative to the country's home currency.
*An example of PPP: If the PPP in the United States is 1 and the PPP in Poland is .6, then a cup of coffee in Poland is 40% cheaper than it is in the US, relative to the Polish zloty. PPP is based on the GDP of each economy.
Flying to Finland won't break the bank because it ranks 30th of 141 economies based on cheapest airfare. To stay in a first-class hotel it will cost you an average of $123.40 per night, making it the 39th cheapest.
On the negative side, the PPP in Finland is 20% more expensive than the United States — ranking it at 134th. In addition, gas stands at a whopping $7.86 per gallon, ranking it 131st of 141.
Ireland ranks 79th of 141 economies in terms of plane ticket affordability, making it a middling destination for air travel. A first-class hotel costs about $126 per night, making it the 46th cheapest.
The PPP will hurt you, as goods and services cost 10% more in Ireland than they do in the US, which ranks 124th. Gas will run you $7.63 per gallon, ranking it 128th.
Seychelles is an island nation in the Indian Ocean between Somalia and Madagascar. Airfare is not particularly cheap, as Seychelles ranks 89th of 141 in affordability of air travel. If you want to stay in a hotel in Seychelles, you can expect to pay an average of $374.70 per night, ranking it 101st of 102 economies for which data was available
The PPP in Seychelles is .6, which is 40% less than that of the United States, but still 84th on the overall rankings. Gas costs $5.62 per gallon (82nd).
See the rest of the story at Business Insider