I'm off on a RTW trip in a month and I'm starting to think about budgeting, specifically in Hong Kong.
We are starting in Hong Kong and spending 3 days there. I'm expecting this to be the most expensive (per day) part of the journey. For three days in Hong Kong what sort of budget do I need to allow? I realise that for diffrent sites etc I'll have to spend money and this doesn't bother me but I don't want to be needlessly spending money either.
Is it a good idea to set out a per-day budget for a trip?
To answer your question about budgeting specifically for HK - yes, it will be more expensive overall, but there are ways you can live on the cheap there. Your hostel will be the most expensive, but if you stay in one of the places in Tsim Sha Tsui on Nathan Rd you can get a room for around $20-$30 US. As for food, stay away from the western style restaurants - they are very expensive and not that good. Eat at the local places - that means getting your butt off the main drags in HK and on to the side streets and eat at the excellent local hole in the wall spots. It won't matter if they don't speak English, or even if the menu is not in English - people there are very friendly and helpful and will surely go out of their way to help you order. Next, get an Octopus card and use the public transport - bus, MTR, ferry, etc. It's cheap. Or walk. Walking is a great way to see HK. If you go out at night, don't bother buying the expensive drinks in the bars - buy some beers at 7-11 and party in the street in Lan Kwai Fong.
As for a daily budget for your RTW trip - what we did is an estimate of the trip as a whole that included all of our expenses and divided that total by the number of we planned to be out. That's the number we couldn't go over. Sort of. On our las trip we were out about 5 months and our daily average stayed around $50 throughout SE Asia and climbed higher in China, Russia - then Europe killed us. Anyway - the $50 included everything: transportation, food, sight-seeing, supplies. I kept a detailed list of all expenses and an average dailiy balance.
Hope this helps!
For SE Asia, I have worked out a budget of about $20 per day (£12), but this is staying in cheap hostels in Thailand, Vietnam etc, and eating from street stalls. For Hong Kong, I would easily double this- which is why I'm not going to Hong Kong! my shoe string isn't long enough for such an expensive place.
I spend 7 days in Hong Kong which cost me 25 euro's a day. Which is around 30 US, you can stay for less if you don't do anything . There are two big mansions in Hong Kong, the Chunking Mansion and the M'something' Mansion (don't remember the name but they are something like 50 metres apart, the name starts with an M) on Nathan Road. Inside you have lots of guesthouses which cost around 60 HK which is around 6 euro's. For that you get a bed in dorm without windows with a small shower, smelly toilet and dubious sheets. Even though I loved it. Everyone on a small budget is staying in those places and you meet loads of fellow travelers so you can complain together .