SOUTH/CENTRAL AMERICA
Latin America has always delivered value, but with the currencies of Argentina, Brazil, and Chile strengthening significantly against the dollar, it pays to consider the region's emerging destinations. Eager to explore the Amazon? Head to Ecuador, which has had a U.S. dollar-based economy since 2000. French Guiana is a euro country, but its next-door neighbor Suriname has untrammeled forests, turtle nesting areas, and an economy with a de facto dollar peg. Even closer to home, Belize and Panama, where the currencies are linked to the U.S. dollar, are among the continent's most affordable destinations. Costa Rica's pristine beaches and verdant rain forests seem all the lovelier now that your dollar buys 33 percent more this year than it did in 2002.

Costa Rica
Currency: Colón
Value of US$1 today: 528.74
Value five years ago: 384.70
Percent Change: +37.44
Perched atop a mountain overlooking a 13-acre private nature reserve and the Pacific Ocean beyond, Gaia Hotel and Reserve has spacious studios and a suite with a private pool. Breakfast and yoga classes are included, and the resort has adventure and spa packages (506-777-9797; gaiahr.com; doubles, $330). The white sand beaches and coral reef–filled bays of nearby Manuel Antonio National Park are surrounded by rain forests full of wildlife, including three-toed sloths (manuelantoniopark.com; $6 entry fee).

Ecuador
Currency: U.S. dollar
Value of US$1 today: 1
Value five years ago: 1
Percent Change: 0
In the bustling capital of Quito, the mountain vistas en route to the Amazon Basin are breathtaking—and free. Once there, the all-inclusive Napo Wildlife Center, owned by the Añangu Quichua community, offers ten luxurious cabanas in the heart of the Yasuni Biosphere Reserve, with world-class bird-watching of species such as rare zigzag and agami herons. Rates include a two-hour canoe trip to the lodge, guided hikes, and all meals (593-2-2556-348; napowildlifecenter.com; doubles, $450, with a two-night minimum). For recommendations on where to stay in Cuenca for under $150 a day, see "Smart Money".

Panama
Currency: Balboa
Value of US$1 today: 1.02
Value five years ago: 1
Percent Change: +2
Stretching into the Caribbean Sea, Bocas del Toro, an archipelago on Panama's northern coast, is known for its rain forest and secluded beaches. Tucked between the jungle and the calm waters of Isla Bastimentos, Tranquilo Bay has six air-conditioned cabins with covered porches and hammocks. Transfers, meals, beer and wine, and excursions are included in the rate; among the activities offered are surfing, jungle hikes, sportfishing, and snorkeling (507-380-0721; tranquilobay.com; three-night packages, $840–$1,065 per person).