So, ideas so far - we don't really want to do Europe, we figure that it's fairly close to home and can be visited at any time on a regular holiday. We need somewhere cheap to stay and travel, this rules out North America, Australia / NZ.
1. Buy a 4wd vehicle and drive to South East Asia (See the 'Overland with Kids' site link for a family already in progress). This idea attractive because it cuts out all that nonsense in airports and you are truly in control, but seems expensive in terms of initial outlay, general paperwork organisation - Carnet etc. Plus, I can be very disorganised. Driving own vehicle in China seems very expensive and complicated, and it's somewhere we really want to visit. Shiping a vehicle across oceans for a true round the world trip also very costly - but this has to be weighed against five air tickets. Plus, the vehicle can be sold at end of trip.
2. Round the World air tickets, dull but easier in terms of timetable & organisation, + you see more places. Spend as little time as possible in developed countries.
3. Overland to South East Asia by road / train (Trans Siberian / Mongolian) to China, base ourselves in Thailand / Vietnam / Indonesia and explore from there. Fly to South America and do the same.
4. Fly direct to South East Asia, spend five or six months then same to South America.
We'll be investigating and pricing each option in the coming months.
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