La Paz

La Paz is a legendary stop on the 'Gringo Trail' for a reason: your money goes further here than almost anywhere else in South America. The vibe is chaotic, colorful, and high-energy, with a backpacker scene that thrives on adventure and late-night social gatherings. For just a few dollars, you can fill up on 'Almuerzo Completo' (a three-course lunch) at local markets or grab 'salteñas' on the street for pennies. Free activities abound, from wandering the eerie Witches' Market (Mercado de las Brujas) to riding the Mi Teleférico cable car system for less than a dollar, which offers the best city views in the world. Hostels like Wild Rover or Adventure Brew are famous for their social atmosphere and organized trips to the 'Death Road.' To save even more, stick to the local minibuses and eat at the Mercado Central. A daily budget of $22 will comfortably cover a decent hostel bed, three hearty meals, several cable car rides, and a few evening beers, making it a true paradise for those counting their bolivianos.