Daily costs in US dollars — Ecuador uses the dollar as its official currency. Otavalo is one of the most affordable destinations in South America.
Daily cost breakdown
Currency: USD (US Dollar) (Ecuador uses the US dollar)
| Category | Budget | Mid-range | Splurge | Notes |
|---|---|---|---|---|
| Accommodation | $8–15 | $20–45 | $60+ | Hostel dorm → private room → hacienda hotel |
| Food | $5–10 | $12–25 | $35+ | Markets & street food → restaurants → fine dining |
| Transport | $1–3 | $5–15 | $25+ | Local buses → taxis → private tours |
| Activities | $0–5 | $10–25 | $40+ | Markets & free sites → boat/bike → guided treks |
| Daily Total | $14–33 | $47–110 | $160+ | Ecuador is one of South America's cheapest countries |
Money-saving tips
Market food is king
Mercado Copacabana almuerzos (set lunch) cost $2–3 — soup, main course, juice, and dessert. Hornado, fritada, and llapingachos at market stalls cost $1–3. You can eat three full meals for under $8.
Bus everything
Buses connect Otavalo to Quito ($2.50), Cotacachi ($0.50), Ibarra ($1), and Peguche ($0.25). No taxis needed for major routes. Even Cuicocha is reachable by bus to Quiroga then a pickup.
Buy direct from weavers
Visit Peguche workshops and buy textiles directly. A scarf costing $15 at the market is $8–10 from the weaver. You see the craft, support the artisan, and pay less.
Ecuador uses USD
No currency exchange needed. ATMs dispense dollars. Coins are US quarters and Ecuadorian centavos (interchangeable). Bring small bills — vendors cannot change $50 or $100 notes.
Free attractions abound
Cascada de Peguche, Laguna San Pablo, town markets, weaving workshops, and church visits are all free. Cuicocha entry is $3. You can fill days without spending on admission.
Community tourism
Runa Tupari community stays cost $15–25 per person including meals and activities. Cheaper than a hostel plus restaurant meals, and infinitely more rewarding.
