Because Your Budget Matters

Latin America has always been a region known for not just its amazing culture, but affordability as well.  Now, not all places in LatAm are affordable, I will admit that, but at least when it comes to cost, even if you are paying more, you generally get more bang for your buck than you would in many other parts of the world spending the same amount of money.  Tie in all of the recent posts that I have had on cultural inclusiveness, service, and experiences and you will see what I mean.  But when it comes down to the numbers, LatAm for business travel is quite affordable.

One of my favorite resources for travel cost determination comes from Business Travel News’ Corporate Travel Index which is published annually and provides great details on how much it costs to travel around the world.  BTN’s index breaks down the US and global cities based on per diems that companies should expect to spend on Hotel/Misc. costs as well as 3 meals per day.  So to give you an idea, here are some comparisons of major destinations and how Latin American countries/cities fall into the mix:

US Top 6: (to make it fair across the board, I eliminated the rental car cost for US cities)

  • New York City – $490.70
  • Washington DC – $421.13
  • San Francisco – $410.71
  • Boston – $386.22
  • Honolulu – $347.67
  • Chicago – $338.56

Global Top 6: (Hotel + 3 meals)

  • Tokyo – $548
  • Geneva – $539
  • Hong Kong – $522
  • Oslo – $522
  • Stavanger – $517
  • Stockholm – $514

Latin America Top 6:

  • Caracas – $477
  • Rio de Janeiro – $381
  • Sao Paulo – $368
  • Lima – $331
  • Bogota – $323
  • San Juan $306

Considering that obviously the numbers go lower and lower as the list moves on, you can see that from a business travel standpoint, LatAm brings in a much more affordable option than most other destinations.  Even with Caracas being as high as it is (due to the economic issues with the Bolivar/Dollar so these numbers may even be off), most destinations in the region are far lower than their global counterparts.

I often recommend this list as a primer to get an idea of cost, but there is no better way to figure it out than to do the research and reach out to partners in the region.  On top of hotels, also consider you can find very affordable options and alternatives for transportation and restaurants.

 

 

Posted in Awesome Reasons for Meeting in Latin America
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