Is Venezuela Expensive?

How much do you need when traveling around Venezuela?

Many brave travelers are starting to visit Venezuela, and those who do come will have an unforgettable experience that will re-shape how you think about backpacking.

There are of course issues with the money here, so it’s important to read on to learn how to budget properly and prepare for a wild trip around Venezuela.

In this guide we’ll look at the typical costs you can expect when traveling Venezuela, such as for accommodation, food and getting around. As well as recommending some of the best tours you can head on, we’ll also answer your most burning questions in our FAQ section.

Is Venezuela Expensive for Tourists?

Quick Answer: Despite the economy having crashed big time (and everything you heard from the media outside the country), Venezuela is actually one of the most expensive countries that you can currently travel to.

Accommodation is naturally the biggest reason since hostels aren’t so frequent (so you’ll need to use Airbnb and spend more time in private rooms). There are other reasons too which we’ll explore later in this guide.

You’ll need to budget for around $30 a day when traveling around Venezuela, where you’ll be staying at hotels (or Airbnb’s) and eating hearty meals for breakfast, lunch and dinner. You’ll most likely be getting a private room too on this budget, which is pretty good anyhow.

Things to know before traveling to Venezuela

Venezuela Travel Insurance

Are you planning to visit Venezuela soon? It can be difficult to find a reputable provider who will cover you in this country. SafetyWing is a solid choice who provide a monthly renewable plan, which includes medical cover and multiple home visits during your trip.

How much does a trip to Venezuela cost?

Budget travelers and backpackers can expect to spend roughly $30 a day in Venezuela, whilst those who want an upgrade in experience (such as better hotel rooms, eating in nicer establishments) can budget for around $45-55 a day.

This budget only covers accommodation, food and a few extras (like beers, a walking tour or entrance etc). Other costs such as flights and day tours will need to be planned with a different budget in mind.

Cost of Accommodation in Venezuela

As of this current time of writing (2024), accommodation will be the trickiest part of your trip planning when heading to Venezuela. This is especially true as a backpacker, since many hostels had closed during the economic crisis.

This means you’ll need to pre-book accommodation on apps like Booking and Airbnb before arriving, where it’s most likely you’ll be getting private rooms instead of budget dorm beds.

In some areas you’ll find that prices are still pretty low anyhow, costing between $15-20 a night. When heading to Mérida, we highly suggest staying at the Hotel Plaza CA, which is in the heart of the city and includes a tasty breakfast in the room rate.

Those who want more comfort (and don’t mind paying more for it) will instead find plenty of options all over the country, which can again be pre-booked in advance using the same apps.

Bear in mind that the cost of a nicer room can be anywhere from $20-45+ a night. If you are staying in Caracas and want luxury, then we highly recommend staying at the Hotel Chacao Suites. Here you’ll be in the heart of the safest district of Chacao, and just a couple of blocks from the Plaza Francia.

Cost of Food in Venezuela

The local cuisine in Venezuela is extremely diverse, meaning there’s a good chance you’ll find something you like here. This includes street dishes like Arepas, Cachapas, Tequeños and Parrilla, which can all be found from between $2-4 in local restaurants and pop-up stands.

Of course you can also head to nicer restaurants in areas like Altamira and Chacao (Caracas), however expect to pay between $5-12 a meal per person.

These options are also better for finding international cuisines too, although you can also find them locally (Venezuela has a really diverse history, meaning you can find Italian, Lebanese and Chinese restaurants throughout with ease).

Something important to mention is the price if heading to Western chains. When I first arrived in Caracas, I headed to the McDonalds and was shocked to find a regular beef burger (with fries and a drink) to cost $12+.

This will be similar with other popular foreign chains, so now you know and may also want to try elsewhere when in Venezuela!

Cost of Transportation in Venezuela

There are two main ways of getting around Venezuela, which are using buses and also domestic flights.

Buses for the most part are good value, although they will be more expensive than other countries in the region (similar prices to Brazil).

They cover Venezuela well, and have comfortable seats with air-conditioning on-board. For example, the 9 hour bus from Caracas to Mérida will cost around $35.

Domestic flights are great for getting from Caracas to further-afield areas in Venezuela. This includes when heading to Margarita Island, Canaima National Park and Mérida.

For example a one-way flight cost around $70 from Caracas to Margarita (although this was in early 2023, and since finding cost information for Venezuela online is difficult, this may have since changed).

Within cities and larger towns you’ll find the metro or local buses a pretty cheap way of getting around. You can also use Uber too, which is highly recommended for your first couple of days in Venezuela as you start finding your feet on the ground.

Cost of Tours & Attractions in Venezuela

Whilst booking tours online is straightforward in other Latin American countries, it’s a little more complicated here in Venezuela. Major online booking companies like GetYourGuide don’t run tours in Venezuela, so you’ll need to book them in-person (unless going with a specialized agency found online).

Generally speaking prices are pretty good for city tours, where you’ll spend between $5-10. Certain day trips can appear costly at a first glance (such as $60 for a return boat ride from Chichiriviche to Cayo Sombrero – which is just for the ride and with no guided tours), however you can easily negotiate costs down if you know some Spanish.

You’ll also want to factor in a pretty sizable portion of your budget for the big tours, such as to Angel Falls or Los Roques Archipelago. These can cost upwards of $1000 for a multi-day tour or expedition, however are 100% worth it considering the sheer beauty of what you will see.

Are you thinking of heading to Angel Falls on your trip? You can read about George’s experience on what to expect.

Venezuela FAQs

Is Venezuela Expensive for Tourists?

And that’s all for our guide on how expensive Venezuela is.
This epic country remains one of our favorites, where you can see incredible highlights such as the beaches along Morrocoy National Park whilst hiking to Angel Falls.

The culture and food are also massive draws, and you may actually find it hard to leave afterwards!

In this guide we’ve looked at how much money you’ll need when traveling around Venezuela. This guide focuses more on the minimum needed for low-budget travelers, so of course if you feel like upgrading then by all means go for it!

Be sure to read our Backpacking Venezuela Itinerary to learn how to best use your time when traveling around this incredibly underrated South American country.

👉🏽 P.S. If you’ve found this guide helpful, buy us a coffee here to say thanks! Or, support us by downloading our South America Travel Bible to get our best content.

“Dear traveler! Some links in this post contain affiliate links. Meaning, if you click through and make a purchase, book a hostel or sign up for a tour, we may earn a small commission at no additional cost to you. Your support means a lot and helps us to carry on traveling and maintaining the quality of this site for you.”