Pros: Not touristy, cheap, quiet
Cons: Lawlessness, corruption, poverty.
Paraguay claims to have three main tourist attractions: the missions, Asuncion, and the Iguazú waterfalls. Unfortunately the waterfalls are not even in Paraguay, but ten kilometers away on the border between Argentina and Brazil.
In 2002 Paraguay began charging citizens of the US, Canada, Australia and NZ visa fees to enter the country whether arriving by land or air. The fees as of Dec 2010 were 100 dollars for multiple entry and 65 dollars for a single entry. The move was said to be reprocity against those which charge Paraguayans entry fees to their countries. The US charges Paraguayans and just about every other Latin American 130 dollars just for an appointment to get a visa. If they are denied a visa their money is not returned.
While it may seem fair, the move has diminished what little tourism Paraguay had. While it is possible to visit Ciudad Del Este without a visa by just crossing the border, it is not technically legal and if you are caught you can expect the authorities to ask for a bribe.
Places To live, invest and travel in Paraguay: