Normally I budget $1,000 for one week in Latin American per person including airfare. Obviously, depending on what you want to do and when you buy the airfare, the prices can differ dramatically. Since our jobs do not limit us on when we can take time off, our trips in last couple of years have been driven by Travelzoo’s flash sales. We bought the plane tickets to Mexico City from the John Wayne airport in Orange County for $280 RT including taxes and travel insurances and started planning from there. The next big chunk we spent on was our room and board. We seldom book hotels because they are 1) expensive 2) lack character. We tend to stick to hostels in touristy areas and bed and breakfast in less traveled regions.
Brief break down of our trip expenses per person for 8 days:
Airfare (Air Tran direct flight from Santa Ana, CA to Mexico City): $280
Bed & Breakfast (4 nights at Casa Cometesse and 3 nights at Bed and Breakfast Pubela La Paz): $227
Transportation (Taxi, buses and metro): $25 per person
Dining and souvenir: ~$270
Total Per Person: $800
For $800 per person, Ciudad de Mexico has been the cheapest trip we have been on in the past few years. Another great reason to visit Mexico – now!