8 Places That the Canadian Dollar Goes Far

I was speaking with a friend the other day, and he advised “I can’t travel man, our dollar sucks everywhere i don’t know.. what do you think is the cheapest place to go?” This question stuck with me because it didn’t come down to where was necessarily cheaper, but the concept we were talking about was called ‘currency arbitrage’ which means “making your money go further by using a strong currency in a country with a weaker one“.

Let’s face it.. If you’re Canadian you already know the struggle of our dollar.. IT SUCKS VIRTUALLY/PHYSICALLY EVERYWHERE lmao.. Okay, maybe I am being extra but our dollar really does suck in most places. Thus, I’ve done deep research, and talk amongst my backpacker friends and here are 12 places where Our Canadian Dollar surprisingly goes far. This list is in no particular order.. I am just listing places.

One thing, I wanted to stress is that I don’t believe there is such a thing as, ‘poor’ countries and ‘rich countries’ because CLEARY during this pandemic we have seen big countries do absolutely nothing for their people. So there’s that myth.. BUSTED. That is not to say that there isn’t many people living in poverty. Globally people are facing a myriad of difficulties in their lives however, I just wanted to disclose that identifying a country as ‘poor’ vs ‘rich’ just doesn’t sit well with me.

Below you’ll find a collection of 12 countries that may not be the cheapest in the world, but that represent the best value for our dollar – and thus are worth visiting. I wanted to give a combination of back-packer friendly and travel friendly countries. If you need help finding cheap flights to these places, take a read of my post of finding cheap flights. Surely, it will help.

Please, leave a comment if you’re not sure which country to visit based on your style or send me a email 🙂

1/10

Romania

$1 CAD = 3.13 leu

100 Romanian leu = $31.94 CAD

Romania is an ancient land, full of castles and historical antiquities, and the exchange rate presents some serious bargains for Canadians. For example, a typical meal for two in the capital of Bucharest will run you under $35 Canadian, the cost of living is estimated to be nearly 40 per cent lower than living in Toronto. Imagine that!

2/10

Croatia

1$ CAD = 4.87 Kuna

100 Kuna = $20.53 CAD

Croatia is just a phenomenal and easy country to back-pack for two. Not, to mention how romantic some parts of the country can be. A typical meal for two in the capital will run you about 289.80 kn which is just under $60.00. Keep in mind, Dubrovnik is one of the most expensive cities in Croatia and will double in price for basic things. Thanks to Games of Thrones attractions.

3/10

Cambodia

$1 CAD = 2740.42 riel

100,000 Riel = $36.51 CAD

Asia is a destination hot spot for Canadian travellers and I can see why. The cost of travelling is cheaper in these countries and the people are the most friendliest you’ll ever met. If visiting Phnom Penh, a domestic beer will cost about a buck and a half, while an average dinner for two will run less than $23 CAD.

4/10

Belize

$1 CAD = 1.54 (BZD)

100 BZD = $64.76 CAD

Average Hotel Price: $40

Average Cost of Food for a Day: $23 / for two: $55

Average Daily Cost (Per Person, Per Day): $78

Belize is the only country in (mainland) Central and South America where English is the official language! As such, it’s an easy place to travel to. This may not be the number pick for backpackers, but for travellers alike our money will go far.

5/10

Argentina

$1 CAD = 56.92 ARS

5692.42 ARS = $100 CAD

Average Hostel/Hotel Price: $20-25 / $51

Average Cost of Food for a Day: $12

Average Daily Cost (Per Person, Per Day): $76

6/10

Belarus

$1 CAD = 2.03 BYN

203.36 BYN = $100 CAD

Average Hotel/Hostel Price: $14-$25

Average Cost of Food for a Day: $7

Average Daily Cost (Per Person, Per Day): $25

Belarus is considered one of the gems of Central and Eastern Europe; visiting museum towns like Mir and Nesvizh will take you back in time, and they’re both UNESCO World Heritage sites. Vitebsk is the place to be in the summertime with lots of arts festivals. Trekking fans will love the ancient forests of Belavezhskaya Puscha National Park, which is home to 212 species of birds.

And because Belarus is one of the few European countries that didn’t adopt the Euro, our dollar goes farrr HUNNTYYY.

7/10

Indonesia

$1 CAD = 11307.52 IDR

1130751.62 IDR = $100 CAD

Average Hostel Price: $10-35

Average Cost of Food for a Day: $15

Average Daily Cost (Per Person, Per Day): $30

Honestly: I think people get clouded by ‘instagram photos of lavish life’ and assuming it costs an organ. In Indonesia you can ejoy the finest things because prices are super low and our money goes far !

Also, most people have no idea just how big and diverse Indonesia is as a country. Many also don’t realize that the popular tourist destination of Bali is just one of many (as in, 17,000!) Indonesian islands, each with their own flavour and sometimes culture.

8/10

Philippines

$1 CAD = 37.30 PHP

3729.58 PHP = $100 CAD

Average Hostel Price: $20

Average Cost of Food for a Day: $12

Average Daily Cost (Per Person, Per Day): $20

9/10

Thailand

$1 CAD = 24.00 Baht

2400.22 Baht = $100 CAD

Average Hostel Price: $14

Average Cost of Food for a Day: $10

Average Daily Cost (Per Person, Per Day): $25

Thailand is a very easy place to visit, and has been a backpacker haven for decades. It’s easy not only because it’s cheap (Chiang Mai, Bangkok, and Phuket all made the 2016 Price of Travel Index’s list of cheapest Asian cities), but also because it’s incredibly friendly it’s the ‘land of smiles’ thats for sure. I survived in Thailand for one month with $300 CAD!! Cant you believe that!

10/10

Chile

$1 CAD = 591.05 CL

59104.95 Chilean Peso = $100

Average price of dinner for two is 35,000 CL

If hiking through Patagonia is on your bucket list, now could be the time to go as every dollar is worth 18% more. Peak season in Patagonia lasts from November until March, when temperatures are perfect for exploring the wonderlands of Torres del Paine, Laguna San Rafael and Bernardo O’Higgins National Parks. Of course when your travelling it is always recommended you download apps, just to help you situate yourself in countries that are more spread apart in terms of activities in different cities.

Thank you so much for reading, and I’ll see you in my next post, xoxo.