An ex-Wall Street banker who’s visited every country shares 6 places where you can spend less and still travel in luxury
The US economy is booming, making summer travel more affordable than ever.
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Lee Abbamonte, 45, is an ex-Wall Street banker who has visited every country in the world.
When it comes to destinations where dollars go the furthest, Southeast Asia is his go-to.
In Bangkok, Abbamonte paid less than $50 a night for a Shangri-La hotel and loved the street food.
This summer is shaping up to be one of the hottest on record for the US economy.
Household wealth is at a record high, the job market is strong, and wages are rising faster than inflation. Meanwhile, the dollar has steadily gained against rival currencies. Simply put, Americans have dollars to spend. One question they might have: Where, oh where, to spend it?
Lee Abbamonte has some suggestions. Abbamonte, who quit his Wall Street finance job to become a travel blogger in 2002, has visited every country in the world, every US state, plus the South and North Poles.
Abbamonte's go-to for getting the most bang for your travel buck is Southeast Asia.
In countries like Thailand, Vietnam, and Cambodia, luxury hotels can cost under $100 a night and street food can be as delicious as fine dining, Abbamonte said.
One downside is that traveling to Southeast Asia from the US can take anywhere from 15 hours to more than a day.
"The hardest part is getting there," added Abbamonte, who last visited the region between 2017 and 2019. "But once you're there, you're in heaven."
Here, Abbamonte shares six countries — in Southeast Asia and beyond — where your vacation budget can buy some indulgent splurges.
During a past trip to Thailand, Abbamonte stayed in a five-star hotel for less than $50 a night.
Abbamonte has stayed in a range of luxury hotels in Bangkok that were relatively inexpensive for the service and amenities.
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Thailand is one of Abbamonte's favorite destinations in Southeast Asia, for good reason.
In Bangkok, he said, street food is world-class and high-quality yet inexpensive compared to comparable meals in the US. Abbamonte stayed at several stunning hotels along the Chao Phraya River, which flows through the heart of the city.
"I remember I paid like $39 for the Shangri-La," he said.
A one-night stay at the Shangri-La in Bangkok is a bit more expensive now, according to its website: $162 as of June 2024.
Outside Bangkok, Abbamonte can't get enough of Phuket, an island off the west coast of mainland Thailand brimming with rainforest and white sandy beaches that look straight out of a postcard.
"Some of the best hotels I've ever stayed at in my life are in Phuket," he said. His favorite is Kata Rocks, an oceanfront five-star hotel that is "one of the most beautiful places" Abbamonte has ever been.
"I don't remember exactly what it cost, but it wasn't that much," Abbamonte said, estimating that he spent "around $100" a night.
In July 2024, a one-night stay at Kata Rocks in Phuket costs more than $490 according to its website. That may not seem cheap, but villas in more expensive locations like the Caribbean can cost a lot more.
Vietnam is exceedingly affordable for its stunning vistas and delicious delicacies, he said.
Ha Long Bay is one of the most beautiful places to visit in Vietnam, Abbamonte said.
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Vietnam is one of Abbamonte's top countries in South Asia, where "the food is cheap and easy, and it's fantastic."
The country is home to some awe-inspiring natural wonders, including Ha Long Bay, which you can explore via luxury overnight cruises with amenities like pools, jacuzzis, and wine cellars from about $190 a night.
"Ha Long Bay, near Hanoi, is one of the most beautiful places in the world," Abbamonte said.
Tourists can also get great deals, he added, in the artsy and history-rich city of Hanoi, the coastal city of Da Nang, and Vietnam's southern capital, Ho Chi Minh City.
In Ho Chi Minh City, Abbamonte recommends stopping by the War Remnants Museum. Known locally as the American War Museum, an adult ticket costs 40 Vietnamese dong, or around $1.50.
Home to exhibits on the Vietnam War and the First Indochina War, Abbamonte said it's his "favorite" museum outside the US.
Money goes a long way in Cambodia, home to a world-class beach scene that relatively few know about.
Cambodia has more to offer than the temple complex of Angkor Wat.
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Another one of Abbamonte's favorite places to splurge without spending too much is Cambodia.
Sandwiched between Thailand and Vietnam, the country is affordable in all the ways that its neighbors are but is more off the beaten path.
"There aren't the tourists you get in Thailand and Vietnam," Abbamonte said.
Most tourists visit Cambodia to see Angkor Wat, an ancient Hindu-Buddhist temple complex near the city of Siem Reap. Abbamonte said the temple, which costs $37 to visit for a day, is worth seeing, but added that the country has so much more to offer.
"There's a lot more going on outside Angkor Wat," he said. "They have nice beaches, and they've really improved their infrastructure."
Some of the most idyllic seaside spots are situated on the tiny islands off of the coastal city of Sihanoukville, like Saracen Bay, a beach on Koh Rong Samloem.
Argentina has some amazing steakhouses that are generally more affordable than their US counterparts.
Argentina is the place to go if you eat meat.
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Abbamonte said many Americans sleep on Argentina, but that it's one of the most affordable, exciting, and pleasant places to visit in South America.
He's particularly fond of Patagonia, a region of mountains, glacial lakes, grasslands, and rainforests that runs through both Argentina and Chile across the southernmost tip of South America.
It's as close to paradise as it gets for Abbamonte, who loves being outdoors — and it doesn't hurt that food and accommodation are inexpensive.
"You can go down there and live it up real cheaply," he added.
The capital of Buenos Aires is also a must-see, Abbamonte added, because it's home to an array of luxury hotels and high-quality steakhouses where American dollars go a long way.
One of his favorite eateries is La Cabrera, a steakhouse in the trendy Palermo Soho neighborhood of Buenos Aires that offers a daily 40% happy hour discount on food and drinks between 6:30 p.m. and 8 p.m. (One blogger who reviewed their La Cabrera meal during a 2023 trip said, at the time, a 21-ounce ribeye cost the equivalent of $45.)
"I'm a meat eater," Abbamonte admitted. "So if you like steak, there's really nowhere better."
Ethiopia offers affordable safari options in awe-inspiring wildlife reserves.
Abbamonte said Ethiopia is home to world-class cuisine and hotels.
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"Ethiopia is one place that I love," Abbamonte said. "It's definitely in my top five African countries."
In the past, he's flown into the capital city of Addis Ababa and stayed in five-star hotels for $100 a night. "They're really, really nice, and you can eat world-class meals for virtually nothing," he added.
While booking safari-type vacations can be "pretty expensive," Abbamonte said more adventurous travelers can always consider camping, which he did during his first trips 20 years ago.
At the time, he said, buying supplies, organizing transport within the park, and getting camping permits cost him between $100 and $200.
For example, foreign tourists visiting the Simien Mountains National Park pay 90 birrs, or around $1.50, for a 24-hour pass and an additional 40 birrs, less than $1, to camp in a tent with up to four people.
Compared to some luxury lodges, it's incredibly affordable, and "you get all the same animals," Abbamonte said, adding that he felt completely safe, given all the park rangers roaming around.
Abbamonte said there's never been a better time to visit Japan, one of his favorite countries in the world.
Japan may very well be Abbamonte's favorite country in the world.
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Japan isn't typically the first country that comes to mind for affordable travel, but Abbamonte said it's never been a better time to book a trip because, as of June 25, $1 buys 159.72 yen.
It's one of the best conversion rates in recent history.
"It's as cheap as it's ever been for the American dollar right now," Abbamonte said. "In Tokyo, the hotels are slashed to a third less than they normally are."
For example, at the Hilton Tokyo, a five-star hotel in the bustling Shinjuku district, one-night stays start at under $300 a night, according to its website.
Abbamonte said Japan is worth the trek — and the steeper prices compared to Southeast Asia — for the unique experiences it offers.
From the Kobe beef in Kobe and the bustling streets of Tokyo to the omakase scene in Osaka and the tranquility and history of Kyoto, there's "nowhere" in Japan Abbamonte doesn't like.
"It's probably the best country in the world," he said.
