The exact cost of traveling the world depends on multiple factors, such as the locations you’re visiting and the mode of transportation you’re using, though as a baseline, it costs $20,000 to travel the world.

How Much it Costs to Travel the World

The cost of traveling the world also depends on whether you do it alone or with other people. 

Traveling Solo

The minimum travel cost is $20,000 for a single person.

This estimation is based on you spending $50-60 on average a day, with some left over for unexpected costs.

Traveling with Family

You’ll need at least between $25,000 to $60,000 to travel with your family.

Traveling in Luxury

Traveling in luxury for a single person costs at least $60,000. The cost could be higher or lower depending on your definition of luxury. 

Traveling Comfortably

You need at least $25,000 to $30,000 to comfortably travel the world. 

Traveling on a Budget

The minimum travel cost for a single person is between $9,000 and $13,000.

The lower estimate depends on you choosing budget transport and accommodation options. 

Traveling for a Year

The baseline cost for traveling around the world for a year is $20,000 for a single person. 

Traveling Indefinitely

The average cost of traveling per year for a single person is $20,000, so the cost of traveling indefinitely would be $20,000 per year.

So if you travel for 20 years, the cost would be $400,000.

The cost of traveling indefinitely depends largely on the locations you’re traveling to and the mode of transportation you’re using.

Factors that Influence the Cost of Traveling the World

The cost of traveling the world is impacted by many factors, including the countries you want to visit and when you want to visit. 

1. The Countries You Want to Visit

The cost of traveling the world mostly depends on the countries you want to visit.

Some countries are considerably more expensive to visit than others due to the cost of transportation, accommodation, and activities. 

Traveling to developed countries, like France or South Korea, is more expensive than to developing countries like Thailand and Indonesia.

2. Seasonality/Time of Year

The cost of flying to different countries varies depending the season you are planning on visiting in.

Most countries have a tourist season during the summer and a low season during the months from January to March.

Naturally, the tourism season is during the holiday months. 

3. Mode of Transportation

The mode(s) of transportation you use will impact the cost of your trip.

For example, the costs could be extremely high if you’re only flying, since flight tickets are generally expensive. 

If traveling around the world includes taking buses, trains, and ridesharing services, the cost of traveling could be lower.

The best way to reduce travel costs is to strategically choose flying and public transportation, and avoid booking last minute flights.

4. Type of Accommodation

The type of accommodation you stay at also impacts your cost of traveling the world.

For example, staying at a hotel is generally the most expensive option.

Hostels and Home exchanges are considerably cheaper.

You could also use Airbnb to reduce costs by choosing low-cost rentals. 

5. Pace of Travel

How fast you travel across the world impacts how much it costs.

For example, staying in the same accommodation for a long time can reduce costs instead of traveling to different cities in the same country.

The cost of traveling also depends on whether you do it on the weekends or the weekdays, when demand is usually lower. 

6. Activities, Tours, and Excursions

How many activities you participate in during your trip also impacts the trip’s overall cost.

For example, you can minimize costs by choosing free activities, like visiting public museums and sites, instead of expensive paid activities like tours and excursions. 

The best way to reduce costs could be to have a customized itinerary to reduce the costs of activities. 

7. Food

Food is naturally a major expense on any trip around the world.

The cost of food varies massively across the world, including the type of food you choose.

Local street food is usually the cheapest option in any country.

In conclusion:

  • The cost of traveling the world depends on the locations you travel to, the mode of transportation you choose, and which activities you participate in.
  • Generally, a single person’s baseline cost of traveling the world is around $20,000.
  • The cost of traveling with family is $40,000 on average, but it could be much higher.
  • The cost of traveling in luxury costs more, at $60,000 at least.
  • The cost of traveling indefinitely depends on how much you travel every year and how long you do it for. For instance, if you travel for 20 years for $20,000 per annum, the total cost will be $400,000.

Ella Dunham, a Freelance Travel Journalist and Marketing Manager, boasts an impressive career spanning eight years in the travel and tourism sectors.

Honored as one of "30 Under 30" by TTG Media (the world’s very first weekly travel trade newspaper), a "Tour Operator Travel Guru" and "Legend Award" winner, Ella is also a Fellow of the Institute of Travel, a Member of the Association of Women Travel Executives, has completed over 250 travel modules, and hosts travel-focused segments on national radio shows where she provides insights on travel regulations and destinations.

Ella has visited over 40 countries (with 10 more planned this year).