As a European I’ve just travelled from Canada to Patagonia and the only place I would consider cheap was Argentina and that was because of the exchange rate we were getting through Western Union.
Eastern Europe, the Balkans, Turkey, which are all accessible for Europeans, are cheap compared to the Americas.
When we were in the US the pound was parity with the dollar - it would have been cheaper to go to Norway!!!
Back in the 80s you could have gone RTW for £2K, cheap countries are disappearing - it’s the same for everyone.
BTW we met more Canadians than Americans (US) and very nice they were too.
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