Leo says that there's a good chance he won't be able to use it all. It's a CDMA phone, and most cell networks overseas use GSM technology. If he upgraded to the iPhone 5, he'd have no problem. The Verizon iPhone 5 comes unlocked and is a world phone, so Eric could buy a local SIM card and use data locally.
He's wondering if the Samsung Galaxy Note II on Verizon would be a world phone. Leo says that Eric should really talk to Verizon about what phone would be best for the countries he's visiting.