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Originally Posted On: https://www.empower.com/the-currency/play/5-culinary-capitals-where-dollar-takes-you-far-news

5 culinary capitals where the dollar takes you far

Given the enduring strength of the U.S. dollar these days, which has been trading close to its all-time high over the past couple of years,1 many Americans have been traveling abroad in search of great deals. But what if you’re a foodie ready for a culinary adventure? After all, according to Empower Personal DashboardTM data, Americans spent an average of $1,065 on travel and $776 on dining out in September 2024.

There are vibrant culinary destinations where the value of the U.S. dollar can stretch further, helping you experience (and taste) more on your trip. Below are five selections of top culinary destinations that are relative bargains right now. The list was curated by looking at prominent culinary rankings and awards – such as The Michelin Guide and The World Culinary Awards – and measuring the value of the U.S. dollar against local currency.

Lima, Peru

Lima is a must on any foodie’s bucket list and is visited by over 2 million international tourists every year.2 Peru is known as the leading culinary destination in Latin America,1 and Lima is a big part of the foodie scene. Three of its restaurants appear on this year’s World’s 50 Best Restaurants list,3 and those don’t even include the legendary Central, with its four-hour tasting menu, where the ingredients are presented not by location or season, but by the altitude at which they are cultivated.4 The national dish is ceviche (seafood marinated in lime juice), and the national drink is the pisco sour.

Of course, the best-known restaurants require some planning, with reservations made months in advance. But great food is everywhere, and the city has a vibrant street food culture. The average cost of staying a week in Lima for two people (all prices include accommodations, food, local transportation and sightseeing) is around $1,057.5 A typical dinner out in Lima runs $9 to $21 per person.6

1 USD  = 3.77 PEN7

Buenos Aires, Argentina

The lovely “Paris of South America” features delicious and varied cuisine beyond the famous grass-fed beef and flavorful Malbec wine. Argentina’s famous empanadas, dough that’s fried or baked with varied fillings, are the gold standard for Latin America. And Don Julio, a classic steakhouse featuring sustainable cuisine and an extensive wine cellar, ranks number 10 on 2024’s World’s 50 Best Restaurants.8

In 2023, Argentina saw 6.7 million international tourists, with Buenos Aires being a top destination.9 Though the Argentine peso often fluctuates, the average cost for two to stay for a week in Buenos Aires is around $157on average.10 Well-known restaurants can still be pricey, but typically the cost of dining out runs US $2 to $15. A cup of coffee is essentially free — 13 pesos equals a penny or two for Americans.

1 USD  =  985 ARS11

Lisbon, Portugal

Portugal is known for its affordability by European standards, and Lisbon was just recognized as Europe’s Best Culinary City Destination by World Culinary Awards. The city features a very lively food scene and 17 Michelin-starred restaurants.12 A week in Lisbon for two averages $2,004.13 Lisbon is renowned for pastel de nata, a puff pastry filled with an egg custard, available for about a euro and the bacalao, a salted codfish, is certainly the national dish.14

Some 15 million international tourists visited Lisbon in 2023, with the biggest number coming from the United States.15 Portugal as a whole had a record-breaking 2023 tourist revenue of 25 billion euros.

A bonus: As long as you’re in Lisbon, you may as well make a side trip to Porto, home to seven Michelin-starred restaurants. It just won Best Emerging Culinary City Destination, beating Berlin, Dubrovnik and Cannes.12

1 USD = .93 EUR16

Palermo, Sicily

The culinary capital of Sicily embraces the Mediterranean diet known for its fruit, vegetables, legumes, cheese, olive oil and incredibly fresh seafood. Palermo boasts five Michelin-star restaurants. Be sure to try some regional specialties, such as arancini, street food that’s basically a deep-fried rice croquette, or spaghetti ai ricci, made with sea urchin.17

In 2023, about 1.4 million international tourists visited Palermo. With 1.2 million inhabitants, it is Italy’s fifths largest metro area, and it includes several UNESCO World Heritage Sights.18 A week for two in Palermo averages $1,407.19

1 USD = .93 EUR20

Hanoi, Vietnam

If you have the time and airfare budget for a truly ambitious foodie excursion, check out Hanoi. Vietnam’s capital was recently named World’s Best Culinary City Destination,21 edging out 2023’s defending champion Lima, as well as Best Food Destination for 2024 by TripAdvisor’s Travelers Choice awards.22 Vietnam‘s culinary scene is known for its delicious pho, a bowl of rice noodles in broth often topped with some protein, or the meatballs called bun cha. A typical dinner out costs $4 to $9.23

In 2023, 4 million international tourists visited Hanoi, and the city earned a total of $3.7 billion in tourism revenue.24 The average cost of a week for two in Hanoi: $691,25 so you may want to stay two or three weeks.

1 USD = 25,410 VND26

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1 https://www.usbank.com/investing/financial-perspectives/market-news/the-recovering-value-of-the-us-dollar.html

2 https://www.ceicdata.com/en/indicator/peru/visitor-arrivals

3 https://www.theworlds50best.com/stories/News/the-worlds-50-best-restaurants-2024-the-list.html

4 https://www.maxim.com/travel/how-lima-peru-became-one-of-the-worlds-greatest-food-towns/

5 https://www.budgetyourtrip.com/peru/lima

6 https://www.budgetyourtrip.com/peru/lima

7 https://www.google.com/finance/quote/USD-PEN?sa=X&ved=2ahUKEwjJqaWN7aSJAxW4EFkFHdwhNScQmY0JegQIIBAp

8 https://www.theworlds50best.com/the-list/1-10/don.html

9 https://argentinareports.com/

10 https://www.budgetyourtrip.com/argentina/buenos-aires-argentina

11 https://www.google.com/finance/quote/USD-ARS?sa=X&ved=2ahUKEwiBmtOp7KSJAxWCMlkFHZQTHRYQmY0JegQIIBAp

12 https://worldculinaryawards.com/winners/2024

13 https://www.budgetyourtrip.com/portugal/lisbon

14 https://fooddrinkdestinations.com/what-to-eat-in-lisbon-food-guide/

15 https://roadgenius.com/statistics/tourism/portugal/lisbon/#Which_countries_visit_Lisbon_the_most

16 https://www.google.com/finance/quote/USD-EUR?sa=X&ved=2ahUKEwiDn4Ge-aSJAxVXKFkFHUyMISsQmY0JegQIGRAp

17 https://www.budgetyourtrip.com/italy/palermo

18 https://en.wikipedia.org/wiki/Palermo

19 https://guide.michelin.com/us/en/sicilia/palermo/restaurants/1-star-michelin/bib-gourmand?sort=distance

20 https://www.google.com/finance/quote/USD-EUR?sa=X&ved=2ahUKEwiDn4Ge-aSJAxVXKFkFHUyMISsQmY0JegQIGRAp

21 https://worldculinaryawards.com/winners/2024

22 https://seasia.co/2024/03/20/hanoi-voted-as-the-worlds-best-food-destination-2024-by-tripadvisor

23 https://www.budgetyourtrip.com/vietnam/hanoi

24 https://en.vietnamplus.vn/hanoi-greets-24-million-visitors-in-2023-post275381.vnp

25 https://www.budgetyourtrip.com/vietnam/hanoi

26 https://www.google.com/finance/quote/USD-VND?sa=X&ved=2ahUKEwjN2r3n_KSJAxWyFFkFHb_VCWEQmY0JegQIIBAp