The capital of Ecuador was founded in the 16th century on the ruins of an Inca city and stands at an altitude of 9,350 feet, according to UNESCO. This is one of the inexpensive cities in South America. You can easily stay at a cheap hotel, eat, and drink for less than $30 per day. A three-course meal for two people at a mid-range restaurant will cost about $30, according to Numbeo. The capital sits high in the Andean foothills. Its “Old Town” is a World Heritage Site.