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If you’re hunting for affordable vacation spots this season, here’s where to go when the loonie is low.
With the U.S. markets in flux (and the loonie feeling the blows), Canadians are looking for ways to save. They’re also looking for places to travel besides our southern neighbour.
“We’ve seen a lot of the brand value of the U.S. be eroded. There’s this animosity towards travelling to the U.S.,” says Rahim Madhavji, president of KnightsbridgeFX, a Canadian foreign-exchange company.
As snowbirds start to flock home for the summer, it’s not looking like other Canadians will take their place. Canadian airlines Air Canada and WestJet have seen a reduction in cross-border bookings as travellers switch to other destinations, reports travel industry site Open Jaw.
“A lot of people booked their March Break in December and January, and a lot of snowbirds had decided what they were doing prior to the U.S. tariffs happening and the changing of the U.S.–Canada trading relationship,” says Madhavji. “But you get the sense that activity is not going to be the same a year from now. We’re seeing Canadians start to pivot. Part of it is just the loonie is so bad—if you’re planning a Disney vacation, you’re paying $1.43 on the regular price. It’s largely unaffordable.”
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If you’re rethinking your own travel plans, here are five destinations that are affordable for Canadians right now. The exchange rates below are current as of April 10, 2025, and all prices are in Canadian dollars.
CAD$1 = $764.50 Argentine pesos (ARS)
Want to dine on steak and malbec, dance the tango, and cheer “Vamos, vamos!” with very enthusiastic fútbol fans? If so, Argentina’s affordability may be calling.
The loonie’s exchange rate to Argentina’s peso has appreciated by about 17% since last year, so you’ll get even more bang for your buck in a destination that was already pretty cost-friendly to Canadians. You can easily find four- or five-star hotels in Buenos Aires for less than $100 per night, and a steak dinner ranges from about $30 to $50 per person.
If you go: Buenos Aires is famous for its vibrant street art. Check out the longest mural in the world by a single artist in BA’s Barracas neighbourhood. The city is also famous, of course, for the tango. Head to the San Telmo district, the dance’s birthplace, for a lesson or a show.
What to know: Argentina is big—possibly much bigger than you think. If you want to see the entire country, from Iguazú Falls to Mendoza’s wineries to the southern glaciers of Patagonia, factor that into your travel time (and budget).
CAD$1 = $14.48 Mexican pesos (MXN)
Mexico is a long-time favourite of Canadian travellers, thanks to its relatively short flight time from most cities and affordable all-inclusive resorts.
You also get more from your loonie here, as our dollar has appreciated against the Mexican peso by about 17% since April 2024. Costs vary wildly depending on the property, but there are often last-minute package deals, or you can book a vacation rental for less than $150 per night and make your own meals.
If you go: On the Yucatán Peninsula, explore Mayan history at the archaeological sites of Chichén Itzá and Tulum. Or go cenote swimming in the sun-dappled caves that dot the coastline. On the Pacific side, wander the colourful cobblestone streets of Puerto Vallarta’s Romantic Zone or dig into the country’s culinary capital, Oaxaca.
What to know: While the U.S. dollar is accepted in Mexico’s touristy areas, it’s smart to carry pesos, too. The local currency may be easier to use in more rural areas, and you may not know if you’re getting the best exchange rate on your U.S. dollars.
CAD$1 = 6.72 د.م. Moroccan dirhams (MAD)
From Sahara sunsets to classic kasbahs, Morocco feels like a magical fairy tale—and a surprisingly affordable one at that.
You can find riads (traditional houses) for less than $50 per night and a three-course dinner for two for less than $40. Or, if you’d prefer someone else do the planning, tour operators like Intrepid Travel and G Adventures offer one-week Morocco trips starting below $800 (flights not included).
If you go: Spend at least one evening wandering the wonderfully chaotic Marrakech medina and an afternoon getting scrubbed up in a steamy hammam. For a break from the city, ride a camel into a desert camp or hit the surf in laidback, beachy Essaouira.
What you need to know: Morocco has a closed currency, which means you won’t be able to access any dirhams until you get there. You’ll also want to use up (or exchange) all your dirhams before you head home, since you won’t be able to convert them in Canada.
CAD$1 = ฿24.32 Thai baht (THB)
While a night at the real White Lotus (a.k.a. Four Seasons Koh Samui) will put you back about $2,000 a night, you can easily find more affordable accommodations on Thailand’s pristine beaches for just $50 to $100 per night.
Plus, you can eat extremely well for ridiculously cheap. Some of Thailand’s best food is found on the streets—one stall in Bangkok, Jay Fai, even has a Michelin star. A meal there will cost around $40, or you can fill up on tangy pad Thai, spicy pad kra pao or sweet mango sticky rice from countless street vendors for less than $5 a plate.
If you go: Beyond the beaches, head north to culture-rich Chiang Mai, where gold and silver temples are tucked into the mountains. Wake up early to see locals giving morning alms to monks draped in saffron robes.
What to know: Canadians can get a 60-day visa exemption on arrival, provided you can show proof of onward travel (either your return ticket home or to another destination). You may also need to show proof that you have sufficient funds to support yourself during your stay.
CAD$1 = ₺26.97 Turkish lira (TRY)
As the literal dividing point between Europe and Asia (the Bosphorus Strait, which runs through the heart of Istanbul, is a continental boundary), Türkiye is a little bit East, a little bit West, and totally all its own.
Plus, it’s an affordable luxury getaway: You can find all-inclusive resorts and spas along the coast for around $1,000 per week. In buzzy Istanbul, you can get a three-course meal or tasting menu at a Michelin-star restaurant for less than $200.
If you go: Browse carpets, spices and jewellery in the Grand Bazaar, step back into the Byzantine era in the Hagia Sophia, or float in a hot air balloon over the otherworldly rock formations of Cappadocia.
What to know: The country is experiencing political upheaval—it’s one of the reasons the lira has dropped so much. You may see protests, especially in Istanbul. Check government advisories before you go.
No matter which destination is calling your name, here’s how to stretch your travel dollars.
Look for a credit card that earns rewards on your regular spending that you can then redeem for free travel.
For example, the Scotiabank Gold American Express and TD First Class Travel Visa Infinite both earn up to six points per dollar spent on groceries and other daily expenses, redeemable for flights and hotels through Expedia.
If you can, travel when others aren’t. March Break, summer holidays and Christmas are all times when crowds and prices soar.
Anytime of year, before you book, check if any local festivals or holidays are happening at your destination. These could mean high flight prices and scarce hotel rooms.
Long gone are the days of physically swapping out your phone’s SIM card for a local one in order to save on roaming fees.
Now, with eSIM providers like Airalo, you can download a digital SIM in advance and access local networks at your destination. Depending on the region, you can get a 15-day eSIM with 2 GB of data for $10 to $40.
Never, ever exchange currency at the airport.
“You’re paying a huge rent premium by buying currency at the airport,” says Madhavji. “It’s not cheap for those places to be there, so to sell currency, the location and rent costs get passed down to the consumer in the form of a premium.”
Plan ahead and go to your bank or a currency exchange at home for a better rate. And look for a no foreign transaction fee credit card, to avoid fees up to 2.5% every time you swipe. (Find examples in MoneySense’s ranking of the best no foreign transaction fee credit cards in Canada.)
The Canadian dollar may be lower than we’d like right now, but that doesn’t mean you have to put your travels on hold. There are still plenty of places your loonie can take you, without emptying your wallet.
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