The short answer = YES you can.

If you stick to the third world - Africa, Asia then you're £500 will enable you to live almost like a king.

In the first world, your £500 budget is a little on the low side.

Remember even some parts of Eastern Europe have an average wage of less than £200.

In Africa most live on about 2 Dollars a day!

£500 will be easy in those places providing you stay well away from Western style 4/5 star hotels.

Keep to mid-range guest houses and the hotels the locals use (take a cotton sleeping bag inner with you).

If I were in your shoes, I'd be looking at touring somewhere like INDIA - Probably the most interesting place you will find in way of cultures etc. It's big enough to spend years touring on 2 wheels and above all it's probably THE most cheapest country in the world to live in. I have heard Thailand is also dirt cheap?

My advice - go to Goa to start with and get used to the way of life etc. Then start to tour the rest of India. It will take years to take in all the sights worth seeing. The country is HUGE! Most importantly, it's a pretty safe place to travel (stay well away from Pakistan and it's border with India) and in general, the people are very friendly towards Brits & Westerners. £500 there is like £5,000 here!

£500 flight to Goa (return). Buy a Indian copy Baja Honda (100cc) and off you go......

I hope your dream comes true.

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Triumph Bonneville 800 (2004), Yamaha XT600E (1999), Honda XBR500 (1986).