There are plenty of countries around the world that have weaker economies where the cost of living is much less compared to much of the "industralized" world. You really have to factor in travel costs into the equation to find the true value.

For example, from the West Coast of the United States, Mexico can be an excellent value for the dollar. However, other countries that have similar economic power in Asia and Europe cost much more to travel and the combined cost would be higher than vacationing the same number of days in many "western countries".

Just my .02.

But answering your question, I've found S.E. Asia (thailand, malaysia, Vietnam), Central/South America (costa rica, brazil, argintina, mexico) , and parts of Eastern Europe (old soviet block, turkey) to be excellent values for the dollar.