Lol @ post above, you have no idea.
I spent £3900 incl all flights traveling through Hong Kong, Singapore, Malaysia, Thailand, Myanmar (briefly), Cambodia, Vietnam, China, Japan. Travelled for 7 months.
Hong Kong: £25 per day
Singapore: £25 per day
Malaysia: £15 per day
Thailand: £10 per day (excl south, incl train costs)
Cambodia: £5-10 per day
Vietnam: £10 per day excl train costs
China: £15 per day excl train costs
Japan: £25 per day MINIMUM excl train costs
So... my point is you could easilly travel for 10 months on £7000, provided you don't do RTW and you don't go to Western Europe, Australia, the USA, or NZ. You could go to one of these countries but only for a limited time. I wouldn't recommend going to more than one developed country (my choice was Japan), because their too expensive unless you have a lot of dosh.
On £7000 you could probably do India, Nepal, South East Asia (or East Asia like me), and Aus/NZ/Japan/South Korea/Taiwan (one), your choice. If you wanted to do N or S America you would need a RTW ticket if you wanna go anywhere else and it would cost too much.
So anyway, my advise is to take a 13 month gap year because the longer the better. Costs in India can be as low as £5 per day, and I'd recommend atleast 3 months there!
OR OR OR OR OR
Do a RTW, use the money to pay for your trip up to Aus, work there for 3-6months, then use that money to pay for the rest. Though this does limit your time in other countries, it depends if you wanna spend that long in Aus. Heard brilliant things from people that have been there, too westernised for me though, I don't really have much wish to travel there personally.
I'm doing the Middle East next, if you need any ideas PM me! ^^