Brazil
Must see: There's more to Brazil than parties, beaches and football. Visitors come for the carnivals of Rio, Bahia and Salvador, and stay for the Amazon rainforest in the north and the Iguacu falls in the south.
What's new: The archipelago of Fernando de Noronha, an hour by plane from the mainland, has the pick of Brazil's beaches. Baía do Sancho and Praia do Leão are the best known, but golden sand and clear water can be found in coves and bays around every bend. Flying to Fernando de Noronha is more expensive than getting to the mainland, but once there, accommodation is in reasonable pousadas (guesthouses) and inns for £50-£60 a night for a double room.
When to go: Brazil is a great year-round tropical destination, but access to Fernando de Noronha is limited in order to preserve the environment - book ahead at all times.
Tour operator: Audley Latin America (01869 276210, audleytravel.com) can tailor-make itineraries.
Further information: brazil.org.uk.
Ecuador
Must see: The best of Ecuador's mainland attractions are its lively market towns and dramatic Andean volcano scenery - all close enough to be seen in a few days. That leaves plenty of time for the unmissable wildlife of the Galapagos.
What's new: The coast of Ecuador's northern Esmeraldas province is the place for relaxing and partying, especially during public holidays and August. Accommodation in towns such as Atacames is simple, and you can feast on the local seafood. It is still cheaper than much of South America: using mid-range hotels, air-conditioned buses and decent restaurants should cost about £50 a day, though you can get by on £10, or spend up to £200 in luxury digs.
When to go: Ecuador's coast, mountains and jungle dictate the climate. This means that when there are good conditions in one part of the country, it'll be indifferent elsewhere. If you're going for the mountains, May to September is the best time.
Tour operator: Mainland Ecuador and Galapagos combination tours lasting 18 days start from £3,145pp from Journey Latin America (020-8747 3108, journeylatinamerica.co.uk).
Further information: vivecuador.com and galapagostour.org.
Argentina
Must see: Buenos Aires is the cultural heart of the country as well as the home of South America's finest clubs and bars. Other essential sights are the Moreno glacier in Patagonia and the Lake District.
What's new: Once popular with visitors tracing the history of Welsh influence in the region, Puerto Madryn in northern Patagonia is now the gateway to the Península Valdés, one of the best wildlife viewing destinations on the continent where you can see whales, dolphins, sea lions and other marine life. Three-day group tours from Puerto Madryn cost around £50, while individual whale-watching expeditions cost around £10 each.
When to go: August to September is the best time to see whales, but dolphins, sea lions and giant choique birds can be seen year-round.
Tour operator: Last Frontiers (01296 653000, lastfrontiers.com) has several Argentina itineraries, including 15-day trips to the south of the country for £2,019pp.
Further information: turismo.gov.ar
Peru
Must see: The Inca wonders of Cusco and nearby Machu Picchu, Arequipa's colonial-era churches and nearby canyons, and lake Titicaca.
What's new: Two recently discovered sites within trekking range of Cusco are attracting tourists in search of an alternative to the Inca trail. Far from fully excavated, Choquequirau is scenically situated where three valleys meet. At the time of writing, it is only accessible on foot - which makes it much less visited than Machu Picchu. Trekking companies in Cusco already offer excursions to Choquequirau and to another Inca site at Corihuayrachina. Now is the time to go. Expect to pay £150 for a trek organised in Cusco, or the same to add Choquequirau to a Machu Picchu itinerary. For now, the restrictions preventing individuals walking the Inca trail don't apply to Choquequirau, so you can simply hire gear at minimal cost in Cusco and take off.
When to go: Peru can be visited anytime, apart from January to April when it's too wet to walk in the highlands. The peak season (when the Andes are at their best) runs during the British summer, and popular spots, especially Cusco, can be busy.
Tour operator: Exodus (0870 2405550, exodus.co.uk) offers a wide range of trekking and other tours to Peru and the rest of South America.
Further information: peru.org.pe
Chile
Must see: Chile has two essentials: San Pedro in the dusty Atacama desert is a fashionable destination for young Chileans and gringos seeking nearby geyser fields and dramatic desert landscapes; Torres del Paine national park in the far south is an awe-inspiring place of waterfalls, granite peaks and ice-filled lakes.
What's new: The world's largest private park, at almost 500,000 hectares, Parque Natural Pumalín (parquepumalin.cl), in the Aisen region of the south, is a relatively undiscovered part of Chile that's only accessible by ferry. Wild and remote yet well maintained, the park is home to 1,000-year-old larch trees, quiet walking routes and fast-flowing rivers. Pumalín can be a cheap place to visit if you camp (£5-10 a night for a campsite), or you can opt for a luxurious cabin close to the ferry port at Caleta Gonzalo for £75-£90. The ferry to the park from Hornopiren on the Camino Austral costs around £10 per passenger.
When to go: Early summer - late September and October - is the best time to head south in Chile. You stand a good chance of warm, dry weather and will definitely see the landscape at its best, with wildflowers in bloom.
Tour operator: Bales Worldwide (0870 2413208, balesworldwide.com) offers a two-week tour for £2,860pp based on two sharing. Extensions to Easter Island are available.
Further information: visitchile.org.
Bolivia
Must see: More than a convenient route across the Andes, Bolivia shines brightly under bold blue skies. Take a ferry across lake Titicaca, explore the colonial towns of Sucre and Potosí, and see the Salar de Uyuni's salt flats.
What's new: Bolivia's jungle is some of the best preserved on the continent, and increasing numbers of visitors are heading to one of South America's finest and most remote national parks, Parque Nacional Noel Kempff Mercado in the east of the country. The Flor de Oro ecolodge is a great base to canoe, hike and explore the waterfalls, forests and wildlife of this area. If you're lucky you'll spot giant otters, macaws, turtles and monkeys. Book through Responsible Travel (responsibletravel.com). Daily living costs are small, but costs increase if you go trekking or exploring the jungle and need a guide. £50 a day is a good budget for this type of activity. Always take licensed guides. You can expect to pay £60-£100 per night for top-end accommodation.
When to go: May to October is the driest time to be in the jungle, but winter conditions prevail in the rest of the country. The days are cold, clear and beautiful - perfect for mountain views.
Tour operator: Trips Worldwide (0117 311 4403, trips worldwide.com) organises tailor-made trips to Bolivia. Its highlights tour starts at £2,200pp for 15 nights.
Further information: embassyofbolivia.co.uk. La Paz has returned to normal after last year's disturbances.
Venezuela
Must-see: Home to the immense Angel falls and the lost world of Roraima, as well as the Andes.
What's new: Venezuelans have known for years that they've got the best beaches in South America, and now other travellers are in on the secret. Splash out at Los Roques, a stunning laid-back archipelago 85 miles from the mainland. You won't find much on the islands but beaches and quiet guesthouses. Taking a tour is the best way to get there. Geodyssey (see below) offers nine-night trips including Angel falls and Los Roques for £980.
When to go: January to April is the dry season, but the country's tropical climate means that you'll find plenty to do all year.
Tour operator: Venezuelan specialist Geodyssey (020- 7281 7788, geodyssey.co.uk) offers a 17-day highlights tour from £2,380pp.
Further information: Keep an eye on events in the country as the Foreign & Commonwealth Office (fco.gov.uk) warns of the potential for political tension to escalate over the coming months. Street crime is an issue in Caracas.
The best of the rest...
Colombia
Must see: Cartagena's historic port is worth the trip alone, and you should linger long enough in Bogotá to visit the Gold museum. However, the real stars of Colombia are its natural attractions, from Tayrona national park's coral reefs to the wildlife and jungle of the Amacayucu national park.
What's new: It's best to stick to the popular path and seek advice whenever you stray from established routes.
Further information: Large sections of the country are off limits to tourists, and you should obtain up-to-date information before travelling from fco.gov.uk.
Uruguay
Must see: Uruguay's Atlantic coast has been a glamorous haunt for wealthy Argentines for many years, especially at Punta del Este. Colonia, a lovely historic town with beautiful sunsets, is an easy excursion from Buenos Aires.
What's new: The quiet riverside towns of the west make for a pleasant detour and are well connected by ferry to Buenos Aires.
Further information: uruguaynatural.com.
Paraguay
Must see: No essential sights, but Asuncíon is a relaxed capital, and there are interesting Jesuit ruins in the south.
What's new: If you make it anywhere in Paraguay apart from Ciudad del Este, on the border with Brazil and Argentina, you'll have one up on most other travellers. The wild west of the country, particularly the endless impenetrable Chaco, is possibly the last place on the continent that will ever see large-scale tourism.
Guyana, Suriname, French Guiana
Must see: Many people can't place these far-flung oddities on the map, and though the Guianas may have little in common with the rest of South America, they make for a fascinating side-trip. Getting there involves flights in and out. French Guiana has former French penal colonies and a space centre. Suriname has Dutch and Indonesian influences. All three boast thousands of square miles of unspoilt rainforest.
What's new: Guyana is probably the most essential destination of the three, with the Kaieteur falls, untouched wildlife and all the jungle you can handle. The Guianas are not a cheap place to travel - day-to-day costs are at least 5%-10% more than in other South American countries. Doing anything worthwhile in Guyana involves a flight starting at around £170.
Tour operator: Responsible Travel (responsibletravel.com) offers a variety of Guyana tours.
Further information: It is currently advised to register with the British High Commission upon arrival. Useful sites to visit: geographia.com/guyana; suriname-tourism.com; tourisme-guyane.gf.
Lonelyplanet.com covers South America in more detail.