Choosing a Place to Travel based on Cost


Outline

  1. Overvalued and undervalued currencies
  2. Ten common countries in the cheapest countries listings
  3. Least expensive destination in the Eastern Hemisphere
  4. Least expensive destination in the Western Hemisphere
  5. Safety Factor
  6. What do you think of the Leffel quote

Overvalued and undervalued currencies

Using the formula in the Big Mac Index interactive site, how much is the Big Mac overvalued in the most expensive country, and how much is it undervalued in the least expensive? Which countries would be the cheapest for travel, and which would be the most expensive based on this index?

Using the Big Mac Index, the Big Mac is overvalued by 18.7% in Switzerland and undervalued by 70% in Russia. Based on this, the cheapest country to travel to would be Russia, because one would get the most value out of a USD there. The most expensive would be Switzerland, because the USD would not go as far.

Ten common countries in the cheapest countries listings

1.     Russia (70.4% undervalued)

2.     Ukraine (65% undervalued)

3.     Turkey (64.2% undervalued)

4.     Argentina (64.1% undervalued)

5.     Malaysia (60.6% undervalued)

6.     Egypt (60% undervalued)

7.     Taiwan (59.9% undervalued)

8.     South Africa (59.9% undervalued)

9.     Romania (59% undervalued)

10.   Moldova (58.5% undervalued)

Least expensive destination in the Eastern Hemisphere

Airfare: $571.30

Hotels: $50 + $50 + $362

Total: $1033.30

My criterion for selecting a destination in the eastern hemisphere was finding a relatively cheap airfare and cheap hotel/food expenses.

Least expensive destination in the Western Hemisphere

Airfare: $613.84

Hotels: $51 + $168

Total: $832.84

My criterion for selecting a destination in the western hemisphere was finding a relatively cheap airfare and cheap hotel/food expenses.

Safety Factor

Based on the Global Peace Index rankings, Iceland would be the safest country to travel to. The United States is ranked number 121, up one spot rom 2017. China ranks number 112 and Colombia ranks number 145.

What do you think of the Leffel quote:

"You'll learn far more than you ever did at a university.
Remember the old days when people got a liberal arts education? They went to Oxford or Princeton to learn about history, politics, social studies, geography, religion, foreign languages, and economics. Well you'll learn far more about all those things by traveling than you ever can in college. Ask anyone in their 30's how much they remember about these subjects from their university classes. "Not much" will usually sum it up."

I spent some time thinking about what this quote means to me. I think that rather than taking the quote as having only one of two meanings, either you drop out of school and travel or never travel and only go to school, Leffel meant more. I think he did not mean that one cannot learn from school, but rather that one can build off of and add to what they’ve learned in school by traveling. The key word in the quote though, and what stands out the most to me, is the word more. Sure you may learn more about the real-life applications of history, politics, social studies, geography, religion, foreign languages, and economics while traveling, but that doesn’t mean you can’t start your learning in school. You may not remember exactly what you learned in that course, but you can know that that’s where the beginnings of your passion for traveling began.

 


Submitted by Samuel Dameron on 2/21/19.