Hotel prices definitely go up in around Christmas so it's best to come early in the month if that's possible, but it's still a pretty good bargain even during the peak weeks. Book early if you can because the better and cheaper hotels will fill up first, of course. Also consider a side trip to the Mendoza wine region, Patagonia, or the amazing water falls of Iguazu.
Trekking in Nepal during peak season might not sound like the most sensible choice for penny-pinching backpackers. But you can still enjoy the ideal weather without spending a fortune on in-demand hotels and expensive permits if you're happy to swap big-name trails, like Everest Base Camp and the Annapurna Circuit, for quieter treks to Kanchenjunga Base Camp and around the Langtang Valley. Idyllic conditions (dry but not witheringly hot) are also on offer in Rajasthan, one of India’s most vibrant and varied states. Chug between notable, attraction-rich cities like Jaipur, Jodhpur and Udaipur on an atmospheric and wallet-friendly Indian train, snacking on spicy pakoras and sipping sugary chai en route.