Points programmes quietly make Latin America one of the cheapest long-haul regions to fly to right now — if you know which cities to aim for. A recent roundup for Hispanic Heritage Month spotlighted five that deliver outsized value in the air and at the hotel desk.

Panama City may be the best deal of the bunch. Copa Airlines awards through Air France-KLM Flying Blue start at just 10,500 miles each way from Washington DC, 11,500 from New York and 12,000 from Chicago — and Flying Blue transfers 1:1 from all the major credit card currencies. Business class runs roughly 10,000 miles more. Once there, the Hyatt-pointable Hotel La Compania in the old Casco Antiguo quarter costs from around 15,000 points a night versus $260 cash.

Mexico City is nearly as cheap to reach. American flies direct from Dallas from 9,500 AAdvantage miles in economy, and connecting itineraries from New York, LA and Chicago start at 10,000 miles. Through Alaska Airlines Atmos Rewards (a Bilt transfer partner), the Miami direct drops to 7,500 points plus $84. On the ground, the new Park Hyatt Polanco — $930 cash — opens for 20,000 Hyatt points from April 2027, while the St. Regis starts at 68,000 Bonvoy points, or 40,000 with Chase's current transfer bonus running to 15 October 2026.

Lima is United territory: daily nonstops from Houston from 30,000 MileagePlus miles plus $20 each way, dropping to 27,000 with a United card. The Category 2 Hyatt Centric San Isidro goes for as few as 6,000 points off season.

The other two picks cost a bit more. La Paz, Bolivia, needs a connection (typically Bogota) — Avianca LifeMiles prices New York economy at just under 27,000 miles each way, and the Met Hotel runs 13,750 Hyatt points a night. It's the gateway to Salar de Uyuni and Lake Titicaca. San Jose, Costa Rica, starts at 53,500 Delta SkyMiles round-trip from Atlanta — 45,400 with the TakeOff15 discount — with the Costa Rica Marriott Hacienda Belen at 32,800 Bonvoy points.

Why it matters: fall is the sweet spot for all five, with pleasant weather, thinner crowds and lower cash prices. Panama City and Mexico City suit travellers chasing the best award rates; Lima and San Jose are for food and nature first; La Paz rewards the intrepid. None require deep loyalty-programme knowledge beyond a flexible transferable-points balance — and a few of these redemptions, especially Panama City and the Park Hyatt, outvalue most European award sweet spots by a wide margin.

The Points Guy