Finding a budget-friendly destination that offers a memorable experience is like striking gold. However, the price of gold can rise, and so can the cost of these hidden gems. As we move into 2024, several affordable vacation spots are expected to see a surge in prices. Here are seven of these destinations and why they might become pricier.

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1. Lisbon, Portugal

Lisbon has long been a favorite for travelers seeking a mix of culture, history, and affordability. With its charming streets, historic trams, and delectable cuisine, Lisbon offers a European experience without the hefty price tag. However, as Portugal’s popularity grows, so do its prices. The increasing demand for accommodation and experiences in Lisbon is likely to lead to higher costs in 2024.

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2. Bangkok, Thailand

Thailand’s bustling capital, known for its vibrant street life and ornate shrines, has been a haven for budget travelers. However, with Thailand’s tourism industry rapidly recovering post-pandemic, prices in Bangkok are expected to climb. This increase will be seen in accommodations, especially in boutique hotels and Airbnb listings, as well as in popular tourist attractions.

3. Mexico City, Mexico

Mexico City, a blend of contemporary urban life and rich history, is another destination where costs are predicted to rise. The city has seen a surge in tourism due to its diverse offerings, from museums to gastronomy. This popularity, coupled with an increase in luxury hotel openings, is set to push the prices up, particularly in trendy neighborhoods like Polanco and Condesa.

4. Bali, Indonesia

Bali’s allure as a tropical paradise with affordable luxury has attracted travelers worldwide. However, the island is undergoing significant development to cater to a more upscale market. This shift means that the cost of villas, dining, and even local experiences will likely increase, making Bali a pricier destination in 2024.

5. Prague, Czech Republic

Prague, known for its stunning architecture and historic charm, has always been a more affordable European destination. However, with a steady increase in tourist numbers, the cost of visiting this beautiful city is expected to go up. The rise in prices will mainly affect accommodation and popular tourist spots.

6. Cape Town, South Africa

Cape Town, with its breathtaking landscapes and diverse activities, is on the brink of becoming more expensive. The city’s growing reputation as a world-class destination for nature, culture, and wine is driving up prices, especially in high-end tourism sectors.

7. Hanoi, Vietnam

Hanoi, the capital of Vietnam, is known for its architecture and rich culture. However, with Vietnam’s tourism industry booming, the cost of visiting Hanoi, including hotels, restaurants, and attractions, is expected to increase.

The Takeaway

While these destinations are currently affordable, the dynamics of tourism and global travel trends suggest that their costs will escalate in 2024. If you’ve been dreaming of visiting these places, now might be the time to plan your trip before prices soar. Remember, the key to enjoying these destinations affordably is to book early and look for off-peak travel times.

Editor's note: This article was produced via automated technology and then fine-tuned and verified for accuracy by a member of GOBankingRates' editorial team.

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This article originally appeared on GOBankingRates.com: 7 Cheap Vacation Destinations That Will Become More Expensive in 2024

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