In this article, we shall discuss the 30 best backpacking destinations around the world. To skip our detailed analysis of the global tourism industry outlook in 2024, go directly and see 10 Best Backpacking Destinations Around the World.
According to a report by Deloitte, the seamless vaccine rollout and the global relaxation of pandemic travel restrictions led to a steady rebound in performance for the industry in 2023. Consumers, who had exhibited frustration from the sheer lack of leisure travel, created a wave of demand for hotels and airlines throughout 2021 and much of 2022. Although the return of travel businesses is still highly contingent upon the certainty surrounding public health, a major portion of the leisure travel consumer market have begun to take a step past pandemic concerns. However, there are other notable challenges which will determine the trajectory of the tourism market in 2024, ranging from consumer financial anxiety to concerns about the carbon footprint which goes hand-in-hand with leisure travel. Furthermore, the industry is currently in the midst of a massive shortage in the labor pool, a quandary which is impacting each and every segment of the industry. In such a precarious climate, many experts predict that the travel market is unlikely to reach pre-pandemic levels in 2024, even in some of the best backpacking destinations around the world.
In order to navigate these new and complex realities, companies like Booking Holdings Inc (NASDAQ:BKNG), Airbnb Inc (NASDAQ:ABNB), and Expedia Group Inc (NASDAQ:EXPE) are reserving greater focus on product performance, price and enhancement of company fundamentals to ride off the current dip, which many have called a one-time-in-a-generation crisis. According to the Deloitte report, there are five primary trends which are likely to impact the growth of the travel industry in 2024, including a depreciation of demand, skyrocketing inflation, supply chain constraints and labor issues, the global sustainability imperative and the freedom to roam. To read more on the tourism industry in 2023, go directly and see World Tourism Rankings by Country: Top 20 Countries.
Tourism in the Metaverse: An Analysis
According to McKinsey, the rampant transformation in the capabilities of the internet has raised questions about the possibility and practicality of transformed travel in 2024. The metaverse is defined as a collective space where physical and digital worlds integrate to deliver immersive, interactive virtual- or augmented- reality user experiences, often referred to together as extended reality (XR). Speculations by consumers only grew when it was realized that underlying technology is already in existence and is proving increasingly cost-effective to use and implement by the day. Held up by aspirational advertising and virtual events, the estimated rewards for the travel industry in large is significant i.e. more than $20 billion by 2030. This technology has the potential to transform the way humans explore some of the best backpacking destinations around the world. Although the current user demographic trends remains young, it is absolutely critical for tourism companies like Booking Holdings Inc (NASDAQ:BKNG), Airbnb Inc (NASDAQ:ABNB), and Expedia Group Inc (NASDAQ:EXPE) to appeal to this substrata of the market.
However, despite initial agreement, there have been increased questions as to whether virtual travel can ever replicate tangible real-world experiences; for instance, can a virtual travel experience to the best backpacking destinations around the world ever mirror the real-world experience of backpacking alone? However, inspite of these initial trepidations, the XR ecosystem is manufacturing at pace. As creative formats break into the mainstream, the global world order has seen the emergence of a variety of economic models. The report predicts that the travel experience of the future will not be exclusively online or offline. Instead, travelers are much more likely to see a ramping up of hybrid options like virtual events edutainment, and profound inspiration combined with tangible experiences. Companies like Booking Holdings Inc (NASDAQ:BKNG), Airbnb Inc (NASDAQ:ABNB), and Expedia Group Inc (NASDAQ:EXPE) are beginning to maintain individual touchpoints rather than end-to-end offerings, and undergoing a more consistent move towards the metaverse. They seem to recognize the fact that the metaverse spells a $13 billion opportunity for tourism inspiration, largely catalyzed by digital travel advertising. Furthermore, with the pandemic affording massive traction to live streaming in terms of consumer demand, spending, and audience numbers, virtual events could account for more than 20 percent of tourism revenues through the metaverse. With the elite cadre of artists raking in more than $20 million per metaverse concert, the travel industry has anticipated an income potential of $800 million by 2025. To read more on the metaverse and the economic upside it presents for industries across the world, check out our coverage of the 13 Most Ambitious Metaverse Companies in the World.
The Global Move Towards Net-Zero Travel: An Overview
The depreciating impact of climate change has pushed decarbonization up the agenda list for many industries, with travel and tourism being no exception. The industry accounts for more than 11% of the world’s emissions and if no immediate action is taken in this regard, the number is well positioned to grow, considering travel is expected to soar by more than 85% from 2024 to 2030 in some of the best backpacking destinations around the world. Since carbon footprints are to be a major driver impacting decisions of the average consumer, employee, regulator, and investor going forward, companies like Booking Holdings Inc (NASDAQ:BKNG), Airbnb Inc (NASDAQ:ABNB), and Expedia Group Inc (NASDAQ:EXPE) have pledged to reach net zero. However, there are certain major obstacles which impede this transition, primarily stemming from the fact that decarbonization technologies in the market are fairly limited, and what is available tends to be incredibly inefficient in terms of cost.
Although some organizations are considering demand reductions, a report by McKinsey highlights numerous alternative practical steps which travel companies can take to accelerate their transition to net zero and optimize the sustainability of their operations, whilst creating value for all stakeholders. The report highlights 4 high priority areas for travel companies like Booking Holdings Inc (NASDAQ:BKNG), Airbnb Inc (NASDAQ:ABNB), and Expedia Group Inc (NASDAQ:EXPE) to focus on, namely, the identification and sequencing of decarbonization initiatives, the curation of inter-organizational partnerships to accelerate decarbonization for business travel, incentivize leisure travelers to pay more for carbon-neutral travel options, and invest in research and development (R&D) initiatives to build a sustainable travel infrastructure for the future. For example, backpacking is a sustainable travel alternative. Hence, companies can incentivize backpacking packages to some of the best backpacking destinations around the world to substantially reduce their carbon footprint. To read more on the backpacking experience, check out our coverage of the 10 Highest Rated Backpacking Tents. With increased investments in the metaverse and the inception of AI, the first examples of travel companies investing in and following through on green-business building initiatives have yielded favorable results, which should pave the way for other players in the industry to follow suit.
Our Methodology
To compile our list of the 30 best backpacking destinations around the world, we decided to undertake a consensus-based approach using a diverse variety of credible sources and research (1, 2, 3, 4, 5, 6). We then shortlisted more than 60 destinations which appeared most frequently during our research. Since determining the best backpacking location is an incredibly multifaceted and complex phenomenon, we established a three-pronged criteria; the criteria is premised on each destination’s scenic beauty (20 points), backpacker-friendly infrastructure (15 points), and cultural richness (10 points). We then proceeded to award each destination a cumulative score according to the aforementioned criteria and selected 30 destinations which scored the highest points. Subsequently, we ranked each entry based on the total points scored, from lowest to highest. Where there was a tie, we broke it based on the scenic beauty of the destination.
To sum it up, we ranked the 30 best backpacking destinations around the world based on their cumulative scores, using a consensus methodology. By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a similar consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
Best Backpacking Destinations Around the World
30. Iran
Total Score: 12
Iran is one of the most budget-friendly and underrated backpacking destinations in South East Asia. Although there is some political turmoil, the country has a rich culture and offers a memorable experience to backpackers because of its attractive landscapes and a wide range of activities.
29. Costa Rica
Total Score: 15
Costa Rica’s picturesque landscapes, outdoor activities, and affordability make it an ideal place for backpackers. They can explore the country’s vast national parks, jungles, and beaches, or partake in hiking, wildlife viewing, and surfing, making Costa Rica one of the best backpacking destinations around the world.
28. Canada
Total Score: 17
Canada is an extremely affordable destination which appeals to many backpackers and also offers a wide range of activities to backpackers including hiking, kayaking, and skiing.
27. Japan
Total Score: 18
Japan is one of the best backpacking destinations around the world as it is extremely affordable and offers a unique and memorable experience. Rural Hokkaido and the tropical islands of Okinawa are some ideal backpacking spots in the country.
26. Turkey
Total Score: 19
Monasteries, UNESCO World Heritage Sites, exquisite mosques, and the Black Sea coasts are some of the most beautiful places to visit in Turkey for a backpacker. The country provides backpackers with a diversified experience.
25. Laos
Total Score: 21
Laos is an ideal backpacking destination for a beginner, primarily because of the relaxed environment and the affordability. The people of the country are known to be extremely friendly.
24. Bolivia
Total Score: 21
Bolivia is one of the most budget-friendly countries for backpackers and is home to several attractions. The Uyuni Salt Flats Tour adds to the experience of a backpacker as it takes them across the Bolivian Altiplano.
23. Chile
Total Score: 22
It is recommended to travel around Chile by road to experience its diversity and to travel on a low budget. The country is home to several mountain ranges, glaciers, deserts, and volcanoes.
22. Ireland
Total Score: 24
Dublin, Galway, and Killarney are some of the best backpacking destinations in Ireland. One can easily travel around the country by road and discover the mountains, seaside towns, and lakes.
21. Morocco
Total Score: 26
Morocco is a blend of Arabic, Berber, and European culture and allows its visitors to have a diverse experience. Trekking, camping, and visiting ancient ruins are some of the highlights of backpacking in the country.
20. Austria
Total Score: 26
Innsbruck, Vienna, and Hallstatt are some of the ideal locations for backpacking in Austria. These locations are home to one of the highest zoo in Europe, a UNESCO heritage town, and the Natural History Museum, providing a diverse experience to backpackers on a low budget.
19. Guatemala
Total Score: 27
Hiking, white-water rafting, zip-lining, and boat riding are some of the activities in Guatemala that appeal to several backpackers. The country is also home to volcanic peaks, rainforests, and lakes.
18. Philippines
Total Score: 27
The Philippines is an ideal location for backpackers, primarily because of its affordability. While in the country, backpackers can partake in snorkeling and diving and enjoy the stunning scenery in one of the best backpacking destinations around the world.
17. Italy
Total Score: 28
Rome, Turin, and Verona are some of the most popular destinations in Italy among backpackers. Italy is filled with artistic heritage, picturesque landscapes, and mountain ranges.
16. South Africa
Total Score: 28
South Africa is known for its affordable food, exquisite beaches, and parks. The Kruger National Park is one of the most popular parks in South Africa and allows backpackers to observe the wildlife.
15. Iceland
Total Score: 29
In recent years, Iceland has been a popular destination among travelers, especially backpackers. This is primarily because of its picturesque landscape, hiking trails, and mountain peaks, making Ireland one of the best backpacking destinations around the world.
14. Croatia
Total Score: 31
Croatia is one of the most budget-friendly places in Europe and is home to several national parks and waterparks. Some of its main attractions include the Plitvice National Park and the Krka waterfalls.
13. Cambodia
Total Score: 33
Cambodia is filled with exquisite destinations and several places ideal for camping. Backpackers are also attracted to the country because of its islands and beaches.
12. Spain
Total Score: 34
Spain is extremely diverse thereby attracting backpackers who want to observe and experience different cultures. Other than that, backpackers can hike in the National Park, relax on the beaches, or enjoy the traditional flamenco shows.
11. Nicaragua
Total Score: 34
Granada, Leon, and Ometepe are some of the best places to visit in Nicaragua for an ultimate backpacking experience. The country has extremely welcoming people and affordable accommodation and food. Nicaragua is number 11 on our list of the best backpacking destinations around the world.
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Disclosure: None. 30 Best Backpacking Destinations Around the World is originally published on Insider Monkey.