James,
I agree with you one hundred per cent. If I would have the time to travel for one, two, three years, I would definitely lower my estimate. I've done the world on a motorcycle in four instalments, (1) North and South America, (2) Across Asia and back, (3) Around Africa, (4) Around the World via Australia. Each trip took about 5 months (I have a wife and a life back home). My figure includes air freighting the bike and myself (difficult to cross the Pacific on US$15 a day). To cross China count US$200 a day (includes compulsory escort). So, the longer you are travelling, the lower your daily average cost. Another thing: I like to meet people and write about my encounters (check "books" on this website). I love to treat my acquaintances to a drink, perhaps to more. This is also difficult on US$15 a day. Not all people are satisfied with chapatis and water.
Having said all this: It all depends what you want to get out of your travels. Many travellers I met on the road boasted how cheap they travel. Perhaps there should be a Guiness Book of Records section: "Cheapest trip around the world." I bet you some German traveller would hold the record.
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