In my experience, Nicaragua is far cheaper than many other Central American countries – and you can travel here for a fraction of the cost of a similar trip to Costa Rica. Ten years ago, I paid just $1 a night for a lakeside hammock at a hostel on Isla Ometepe. In recent years, costs have gone up in Nicaragua, but it’s still extremely affordable compared to travel in North America or Europe. The average costs for a one-week vacation to Nicaragua in 2023 are $1,800 for one person or $3,000 for a couple. Experienced budget travelers can get by on much less.