Last updated: January 30, 2023

How much does it cost to travel for one year around the world? That is the million-dollar question everyone wants to know the answer to. Your budget is one of the biggest factors in determining how long you’ll be able to travel for, where you’ll go, and how much of your daily comforts you are willing to let go. This number will vary from person to person, but I’m here to give you insight into my personal budget breakdown during my year abroad.

Let’s start from the beginning—after several years of working, I had saved up $20,000. Was this originally meant for me to spend on traveling? No. Did I spend all of it on traveling regardless? Yes. My dad will tell you that this money should’ve gone towards buying a house, but I digress. (There is a completely separate conversation to be had about how I was able to save this much in a few years, which I will do a deeper dive into another post.)

When I had these initial thoughts of leaving my job to travel, I began researching how much it would cost to travel for a year and I came across multiple blogs saying $20,000 was the baseline. I had the money in my account and since this budget was doable for other travelers, it gave me the confidence that this would be possible for me as well.

In the months before I left, I sold almost everything I owned. Between selling my car, clothes, and household items, I had an additional $7,000 that I planned to use as a contingency in case some things went wrong (which they did) and as a cushion for when I arrived back in the states from my travels. I went into this with the mindset of not having a job while I was away, so it was important that I could rack up as much money as possible.

In order to make sure I stuck to my budget, I needed to find a budget tracking spreadsheet that suited my needs. An enormous thank you to Shannon with alittleadrift.com for providing me with an easy-to-use budgeting spreadsheet. This was my bible for the entire year—almost everything I paid for went directly into this spreadsheet and kept me on track through the year.

Budgeting Spreadsheet Template (www.alittleadrift.com)

Now let’s dive into the details.

MY BUDGET BREAKDOWN

Total Flights: $760.43 If this cost seems low, that’s because it is. Bless travel credit cards! I made sure to save my credit card points prior to my trip and use them for the more expensive flights. What would’ve been $2,648.33 came out to a fraction of that cost. I used my Delta AMEX points for my first flight from Florida to Italy and then my Chase Sapphire Preferred for the rest. So, if you’re not already racking up points on your travel credit cards, then start now!

Total Spend: $19,242.22 (see breakdown per country below) These totals include accommodation, food, entertainment/activities, transportation, internet, visas, and miscellaneous costs like shopping or laundry. These items are what I planned for in my $20k budget—below is my actual spend in each country.

This by no means, is a luxury travel budget. My spending was mostly that of a budget traveler—staying in hostels & guest houses, eating cheap food or cooking on my own, and using the cheapest modes of transportation. I also did not partake in expensive activities every day, instead, I limited myself to several in each country that I really wanted to do. And then on the occasion, I let myself splurge and enjoy a nicer hotel and meal.

This is something I feel is important to note—this type of traveling isn't considered an extended vacation; it is now your new lifestyle for one year and you won’t be able to indulge as much as you would on a normal vacation. You’ll do anything to keep your travels going for as long as possible even if that means giving up your usual comforts!

You’ll see in the chart below that I did what I could to spend as little as possible in places like Morocco, Sri Lanka, Thailand, and Vietnam. I knew Bali was going to be the last stop of my round the world (RTW) trip, so I made sure I saved extra in other countries to treat myself to nicer accommodations and food. It’s all about balance!

Grand Total: $21,516.74

My grand total includes what you see above, and all miscellaneous costs along the way (insurance, ATM fees, subscriptions, stolen phone, etc.) Besides travel insurance, these costs were unexpected and weren’t incorporated into my $20k budget.

Overall, my average cost per day came out to around $63. Most of my travels took place in countries where the USD was strong and my money could go far. Side note: While this is amazing for US travelers, remember to be grateful for the ability to do so because those countries with weaker currencies wouldn’t have the same luxury if they were to travel to the US.

If I spent all of my time in Europe, my money would not have gone as far and my trip would have been shortened by a lot. Be smart about where you decide to travel and make a game plan!

How did the pandemic affect my travels and budget?

I started my travels in September 2021 when COVID restrictions began to lift in certain countries. Most countries were struggling to reopen to tourists after two years in lockdown, so it was extremely important as a traveler to be considerate of their regulations. Most importantly, I made sure I had my vaccine prior to leaving and that took care of a lot of the possible complications of moving from country to country.

There were several COVID tests I had to take which added costs to my budget—coming from the US to Italy, in Spain before Sri Lanka, and then I had to take three tests when traveling to Thailand through their ‘Test and Go’ program, where I (unfortunately) tested positive on arrival and had to quarantine in a government-run hotel for ten days. This was a huge blow to my budget at first, but with my World Nomads Insurance (travel insurance!), I was able to be reimbursed for all of my quarantine costs, which were close to $700.

My biggest savior in understanding COVID requirements for the countries I traveled to was utilizing the app, Skratch. This app was able to show me real-time restrictions and travel information in an easy-to-understand format which eased the stress of doing the research on my own.

If you’re setting out to travel in 2023, be sure to do your research on COVID policies in other parts of the world and prepare for added costs along the way.

With that being said, you now have a better idea of what it costs to travel for one year. There are other ways to travel with less whether you decide to work while you travel, couch surf, or partake in work-aways where you exchange work for food and accommodation, but it all depends on the type of travel you’re in search of.

If you’re interested in learning more about long-term travel, I’d love to share more of my experience, helping you on this journey of your own. Contact me through the Plan My Trip form and let’s chat!

How much does it cost to travel for one year around the world?

MY BUDGET BREAKDOWN

How did the pandemic affect my travels and budget?

Top 10 things I learned as a solo traveler