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If you're planning a trip on a budget this year, you might want to exclude these destinations from consideration. But if you'd like to fantasize about the most extravagant, luxurious travel the world has to offer, or if you're fortunate enough to be able to afford it yourself, you've come to the right place.

1. Bermuda

Bermuda has been described as being less like an island and more like an island-sized country club. It has some magnificent beaches, great restaurants, and friendly people, but it also comes with a big price tag.

While Bermuda is only a two-hour flight from New York City and you can get deals on the flight itself, it's another story once you arrive on the island.

Accommodations can be very expensive due to lack of competition from hostels. The cheapest place you'll find will likely still be higher than $100 per night, and that's using sources like Airbnb, Bermuda Rentals, or HomeAway. There are a handful of Couchsurfing hosts who offer private rooms at a more competitive price, but since there are so few, you'll want to book far in advance to secure a place.

Transportation can also be pricey with a short taxi ride costing $20 USD. Buses are a more affordable option, and visitors may also rent motorbikes to traverse the small island for a cheaper cost and on their own time.

Bermuda

2. Switzerland

While Switzerland has been called one of the most expensive countries to visit in the world, it's also known as one of the most beautiful. It has rolling green hills, snow-capped peaks, and a lake in nearly every city. The architecture, food, weather -- we could go on forever!

The flip side of the coin is that the World Economic Forum ranks Switzerland as one of the most expensive countries for visitors and that tourists will, on average, spend roughly $1,882 per person.

Dinner out for two can easily cost 150 francs, a near-equal conversion to USD. Transportation can be expensive, so visitors might want to consider a metro pass in more built-up cities like Zurich. It's also wise to shop ahead for deals as they can be found from time to time.

3. The Bahamas

With 700 islands spread over 180,000 square miles of ocean, 2,000 rocks and cays, and some of the most crystal clear water you'll ever see, it's no wonder that many travelers look to the Bahamas for their next beach vacation.

Expenses come thick and fast, though, with accommodations usually costing a minimum of $100 USD per night, and that's just for a two or three-star hotel. Airbnb has better prices at times, but again, due to the high interest from other travelers, you'll want to book early.

Nearly every activity that visitors will want to partake of (at least the guided ones) come with a price tag that starts around $150 USD, making excursions one of the fastest ways to burn through cash.

Taxis can be pricey, but transportation around Freeport or Nassau is relatively easy with minibus trips at minimal cost. Uber is another good option.

The Bahamas

4. Norway

Norway won second place in the United Nations' 2013 World Happiness Report, and it's likely for reasons such as safety (Norway has a ridiculously low crime rate), ability to pitch a tent on any uncultivated land, lush scenery including epic mountains and fjords, and well-designed urban spaces.

The price of having some of the highest living standards in the world is high, and travelers will experience that with hotels easily charging north of $300+ per night, car rentals that can be as high as $500 per week, and taxi rides that are often expensive, especially from the airport.

The cheapest options are local ferries, trains booked well in advance, hotels in the summertime (although flight prices can go up around this time), and worst case scenario, you do have the option to tent anywhere as mentioned.

5. Iceland

Despite ranking as the third-most-expensive country in the world, Iceland has increased in popularity as a travel destination. It's likely due to the natural beauty it encompasses, such as the massive Blue Lagoon outdoor spa, abundance of waterfalls, a mythical history including Vikings, elves, etc., and whale watching.

How expensive is it? Research shows that a hotel in Reykjavik, the capital, is 10-32% more expensive than staying in other Nordic capitals and that restaurant bills are about 44% higher than the EU average. Buying a drink is a whole other story as it also exceeds the average by about 123%.

As is the case with some other destinations, camping is actually the most affordable way to stay in Iceland and totally doable in the warmer summer months. Hitchhiking is extremely common in Iceland and known for being very safe, so if you're really traveling on a budget, this might be another option at times.

Since eating out can be so pricey, it's recommended for visitors to plan a couple special occasions out on the town, but eat primarily food that they buy at local grocery stores and cook themselves.

There you have it: the most expensive places to visit in 2018! Of course, the fact that they're so beautiful might have you ignoring the cost altogether...

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