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.
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.
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.
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.
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.
- 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.
Lindsay is a former travel agent and current travel enthusiast and writer.
After backpacking across Europe after college, she caught the travel bug and has since visited over 100 countries (with more planned!).
With her extensive travel experience and industry knowledge, Lindsay is well-versed in all things surrounding commercial air travel, from TSA regulations to finding the best flight deals.
Lindsay's love of travel has led to recognition by being mentioned or quoted in major publications, such as Insider and Trip Savvy.
Get in touch with Lindsay by emailing email@example.com