Sydney made a huge leap in the Prices and Earnings report this year, according to U.S. News & World Report. In 2009 Sydney was stuck at No. 38, but this year it’s enjoying the view from the top 10. The Australian dollar has been steadily catching up to greenbacks, affecting hotel and restaurant prices. This state of affairs, combined with a trip to the Opera House, an inevitable pub crawl and a fresh-seafood binge, makes Sydney an easy place to spend some serious cash, TIME finds.
Budget travel: Don’t fret! There are plenty of things to do in Sydney if you are strapped for cash. According to TIME, the city boasts miles of beaches (try the Lady Bay nude beach) and plenty of accessible hiking paths in the nearby Blue Mountains.