Arguably one of the cheapest destinations in the Americas, Nicaragua is often overlooked by tourists who instead flock to Costa Rica, Panama, and the islands of Honduras. For about $3, you can enjoy a stomach-filling meal in any Nicaraguan city, while a trip in a bus, minibus or taxi will generally fall in the $3 to $5 range.
Even in the popular tourist and expat cities of Leon and Granada, the prices don't rise much above these levels. In fact, some people choose to stay in Nicaragua long-term, living very well on about $1,000 to $1,500 for an entire month. Hostel beds can be had for about $4 to $5 in most Nicaraguan cities and towns, while $10 will get you a basic private room. If you can find a way to up your budget to $35 to $50 per day, you can enjoy a splurge-filled Central American experience here. And, of course, Nicaragua has one major advantage for North America-based travelers: It is cheaper to fly here than to reach the other far-flung destinations on our list.