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Many people save all their lives with the hope of traveling the world in retirement. But if you haven’t saved enough money, you’ll want to maximize your travel experiences by choosing lower-cost locations.
The median retirement income for individuals from 65- to 74-years-old is just $55,747, according to U.S. Census Bureau data reported by Annuity.org. That may not leave as much money as most people would like for a jet-setting lifestyle touring the world.
Avoid these costly vacation spots to help your dollars stretch further.
Hawaii
Hawaii can be a beautiful vacation paradise. But the costs add up quickly. For a one-week vacation in Hawaii, CollectionsofWaikiki.com said two people can expect to spend $5,000 or more. Airfare from Washington, D.C., to the Island of Lanai, for instance, is listed at $1,021 on Google Flights right now. Going to Honolulu with two stops will cost $633. You may be able to find cheaper airfare if you’re traveling from the West Coast.
But food, activities and transportation also add up. You can stay in a hostel for under $100 per night, but it’s likely that retirees will want more luxurious — or at least, private — accommodations. Luxury hotels and resorts can range from roughly $500 per night up to $2,000-plus, based on a quick Expedia search.
Europe
Some cities in Europe, like Paris and Switzerland, are more expensive than others. But, in general, a trip to Europe will cost more than staying stateside for retirees in the U.S. Airfare alone ranges from $400 in October up to $700-plus in the peak months of June and July, according to a Skyscanner.com search. You can get a decent hotel for under $200 per night in London, but a stay at the Marriott in the center of tourist attractions like the London Eye and Big Ben, with a view of the Thames River, costs more than $1,000 per night through Expedia.
You can spend a week in Europe visiting different cities by train, but Eurail tickets range from $325 for a four-day pass in second-class up to $557 for a seven-day pass in first-class and up for longer time frames. Add in meals and tourist attractions at each stop, and your European vacation can cost thousands.
New York City
Like London, hotels in the center of New York City range from $200 up to thousands per night. A stay in New York City in the fall, when temperatures are typically beautiful, costs $500-plus per night if you want a hotel in Manhattan. Famous tourist attractions like the Empire State Building, One World Observatory and the Harbor Lights Cruise cost $50-plus, while some museums and other attractions cost $30 or less, according to listings at GOCity.com. You can save money with a multi-attraction pass, but you’ll still pay at least $89 per person for two attractions.
Food costs also add up in the city that never sleeps. While it’s possible to get a hot dog and a soda or a slice of pizza on virtually any street corner for around $5, mid-range restaurant meals can range from $30 to $60.
Amongst the other downsides to a New York City trip, the vacation typically entails a lot of walking, which may not be preferable for some older retirees.
Bora Bora
Bora Bora in French Polynesia is a tropical paradise of privacy, white-sand beaches and luxury resorts. But the things that make this island so wonderful should also give middle-class retirees pause. First, it’s “outrageously expensive,” wrote travel photographer Brandon Eicher on his blog. Many of the luxury hotels are only accessible by boat, which can lead retirees to feel, as Eicher wrote, “trapped in paradise.”
Additionally, the trip from the U.S. will likely involve a “long flight and various travel connections,” according to BoraBora.com. This also may not be ideal for retirees, as it adds to the cost of the trip and entails sitting uncomfortably on a plane for hours. An Expedia search revealed that trips to Bora Bora from Washington, D.C., in late September start at just under $2,000.
Dubai
Dubai may be on your bucket list as a top tourist destination. But it may be out of reach for most middle-class retirees. The Sadaa Trent travel blog outlined the costs for a seven-day trip. Assuming that retirees will want slightly-better-than-budget accommodations, you’ll spend up to $1,800 for a moderate hotel, up to $500 on transportation and up to $1,800 on food and activities.
On the high end, hotels can cost as much as $7,500-plus, or $1,000-plus per night. Add the cost of a tourist visa, plus flights, which start at roughly $700 round-trip from New York, and, once again, a stateside vacation is going to deliver a better value for your money.
Middle-class retirees may want to consider historic U.S. cities like Charleston, South Carolina, or San Antonio, Texas, for an affordable vacation.