(MONEY Magazine) – Travel pundits predict a stampede to the Caribbean this season owing to dips in the dollar and scary times in the Mideast. Therefore, if you want to be smart, consider Venezuela. You'll find a big-city pulse in sophisticated Caracas and a resort mood on nearby Margarita Island (42 beaches plus duty- free shopping) -- both at down-home prices. A trip to Canaima National Park in the south might include a stroll through the rain forest near Angel Falls, 19 times higher than Niagara. And wherever you go, you won't bump into busloads of Americans. ''Venezuela's marketing efforts have not been successfully pitched toward North Americans,'' explains Malcolm Noden, professor of marketing and tourism at Cornell University. The local monetary unit is the bolivar, commonly called a B. With almost 50 Bs to the dollar, prices are incredibly low: taxis across town run about $1; the 40-minute cab ride from the airport costs about $15. Local Polar beer is 50 cents. A dinner tab in Caracas rarely goes beyond $30 for two. Even souvenirs are a bargain in Venezuela. Here's the rundown: -- Caracas. Nestled in a tiny valley, the city booms with energy, and four- star hotels run just $100 a night. Across from the new cultural center is the best situated of the city's two Hiltons -- the Caracas Hilton (Avenida Libertador y Sur, 25; 800-445-8667), convenient to sightseeing and shopping. The quieter Hotel Tamanaco Intercontinental (Avenida Principal las Merceds; 800-327-0200) is up in the hills, but the view and cheap taxis are hard to beat. Whether staying there or not, do dine at the Tamanaco. And don't miss El Zaguan de un Solo Pueblo, which features popular bands ($15, dinner for two). For getting around, the metro is clean and safe -- 6 cents a ticket. Or you can rent a taxi by the day (about $30), although your driver probably won't speak English. Shop the Boulevard Sabana Grande, which is closed to traffic. -- Margarita Island. Discovered by Christopher Columbus in 1498, the island is ( now a find for those inclined to South American sophistication and Caribbean sun and surf. Some parts run to honky-tonk, but the area's glamour hotels and resorts, such as the Margarita Hilton and Bella Vista (about $100 a night), offer good deals. The duty-free shopping zone, declared back in 1975, remains an attraction. Choose among visiting a sleepy town with abandoned fortresses, hiring a private boat to explore hidden beaches and eating lobster at a beachside shack. Beaches are empty and pristine.

-- Getting there. Most flights to Venezuela leave from Miami. National carrier VIASA, Pan Am and American fly to Caracas from several U.S. cities. Avensa, which flies directly to Margarita Island from New York City and Miami, also has internal routes sewn up. Prices depend on the season. Avensa has a $340 round-trip fare for stays of three to 14 days and $494 for 30 days. In high season (mid-December to mid-February), that $340 fare goes up to $494. Call 212-593-1774 in New York or 305-381-8001 in Miami. Package trips offer the best deals. Key Destinations (800-874-4637) has a winter getaway to Margarita Island with air fare, seven nights at a hotel, transfers and a half-day of sightseeing priced from $529 to $639. Airlines also have varying package deals. -- Hecho en Venezuela. Big-name bargains can be found, but there's a trick: much of the merchandise is made in Venezuela under licenses. Legal? Yes. Identical to the products you buy in Paris? No. Still, an hecho en Venezuela Louis Vuitton suitcase costs about $100; Charles Jourdan shoes are $50 a pair. A bottle of Shalimar smells the same as the French version, but the price is sweeter -- at $9 vs. $38. The real deals are in designer clothes -- also made in Venezuela -- from Ralph Lauren to Gianni Versace. Don't overlook handmade crafts. And although Caracas is touted for gold, watch out for vendors pushing nine- and 10-karat gold as 14- or 18-karat.