The EFL market varies from country to country, but one thing's for sure: knowledge of the English language is becoming more and more of an asset, and necessity, in everyday life across the world. The demand for qualified TEFL teachers is therefore ubiquitous and your qualification could lead you to a teaching job almost anywhere, from a small rural town to a large, cosmolitan city.
Teaching English abroad should pay enough money to cover everyday living expenses - especially if you're a Westerner used to a higher cost of living and stronger currency back home. Depending on where you go, you may also be able to save some of your salary and put this towards travel at the weekends and/or at the end of your teaching assignment. Many TEFL teachers also find that giving private lessons or teaching Business English outside class hours is a handy way to supplement their income.
Whatever you do and wherever you go, you'll find that teaching English is an immensely rewarding way to immerse yourself into a new country and culture. You'll get an insight into the lifestyle and people that you would never usually be afforded just passing through as a traveller. You'll also be able to explore the country and its surroundings in your free time, and once your TEFL job is over. It's really a win-win situation - where else do you get paid for a once-in-a-lifetime experience?