Traveling through europe is something I really think I would have liked to do at some point in time but never got to it (mainly because I was always working in undergrad and it can be pretty expensive). I'll definitely have to catch up once I'm finished with training. At least by then once I'm an established doc I'll be able to afford staying at a different nice hotel every night I'm there, not to mention splurge on buying souvenirs, eating well and inviting people to come with me
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If you decide to travel through central america and certain other places in latin america, I suggest you be very careful about where you go. Not every place in latin america is as stable and open to visitors as europe. Central america in particular can be pretty dangerous if a) you clearly stick out as a tourist and b) don't speak the language and have limited means of communicating. Dress poorly and don't wear any flashy jewelry or new shoes...it doesn't take much to convince someone who is poor and kind of desperate for some quick cash to rob you and/or do worse. A nice pair of "american" sneakers may be enough incentive. Guatemala and belize are generally safe, as is most of costa rica (lots of american tourism there), but watch your back in nicaragua, honduras, and don't set foot in el salvador. El salvador is riddled with gang violence and an adventure before med school is not worth it if you may not come back to start school.
In south america, don't think about going to colombia since the entire country is pretty much a warzone right now. It's too dangerous for american tourism and the guerilla controls lots of the country. Americans make nice ransom prizes and/or bargaining tokens. And Brazil has one of the highest murder rates in the world. While it's very famous for tourism because of the beautiful beaches and women, you really have to stick to the limited official tourism areas, especially if you cannot communicate with the people. You can be at a gorgeous beach, ogling the hot girls in their thongs (or nothing at all) one minute, then walk over 2-3 city blocks and find yourself suddenly lost in the ghetto. If that's your idea of adventure and you love the adrenaline rush of actual danger, then go for it, but I'm more careful when I travel
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And don't count on the police helping you since in brazil oftentimes a uniform means very little...the police are the ones committing half the rapes and murders. They won't help you and no one will find you.
Sorry for the downer, but I add my advice simply because I keep up with latin america and what goes on there and think that maybe some of you in say oklahoma or missouri may not get news coverage from those areas and really might be naive about what it's like there. It can be fun to travel there but if you want to be safe too you have to know where to go/not go. Otherwise you may decide to go backpack through el salvador, with your nice new shoes and watch, giant pack full of goodies and (probably cash, the natives will think) flashy abercrombie shirt or something, and then during your adventure you may have to ask these guys for directions:
http://images.google.com/imgres?imgurl=http://www.tkb.org/documents/Groups/GR4486_ms13signelsalvador.jpg&imgrefurl=http://www.rapdict.org/MS-13&h=249&w=188&sz=17&hl=en&start=41&um=1&tbnid=WyZU2oEO9p55bM:&tbnh=111&tbnw=84&prev=/images%3Fq%3DMS%2B13%26start%3D40%26ndsp%3D20%26um%3D1%26hl%3Den%26safe%3Doff%26client%3Dfirefox-a%26rls%3Dorg.mozilla:en-US😳fficial%26sa%3DN
Not fun.