Money Matters & Budget to visit Bolivia

Understanding Bolivian Currency: The Boliviano (BOB)

Before you arrive in Bolivia, familiarizing yourself with the local currency is a fundamental step. While the country has its official currency, you’ll find that another major world currency plays a significant role, particularly within the tourism industry. Understanding how both are used will make your financial transactions much smoother.

The Basics of BOB

The official currency of Bolivia is the Boliviano, which you will see abbreviated as Bs. or identified by the international code BOB. This is the currency you will use for the vast majority of your daily expenses, from buying a bottle of water to paying for a meal at a local restaurant or taking a taxi.

The currency is divided into 100 centavos. The common denominations you will encounter are:

• Bills (Billetes): 10, 20, 50, 100, and 200 Bs.
• Coins (Monedas): 10, 20, and 50 centavos, as well as 1, 2, and 5 Bs.

It’s always wise to carry a mix of denominations, especially smaller bills and coins, as getting change for larger notes like a 100 or 200 Bs. bill can be challenging at small shops and market stalls.

The Unofficial Currency: US Dollars

While the Boliviano is king for everyday transactions, the US Dollar (USD) functions as a de facto secondary currency, especially for larger, tourism-related payments. Many tour operators, particularly for high-value trips like the Salar de Uyuni or Amazon jungle tours, will quote their prices and readily accept payments in USD.

Carrying a reserve of US dollars in cash can be extremely beneficial. It provides a reliable backup if you have trouble with an ATM, and it simplifies payment for pre-booked tours or more expensive hotels. You can exchange USD for Bolivianos at a favorable rate in cities, often better than what you would get exchanging other currencies.

A critical point to remember concerns the condition of your US dollar bills. Bolivian businesses, banks, and exchange houses are extremely particular about the quality of foreign currency. They will almost certainly reject any bills that are torn, heavily creased, written on, or overly worn. For your USD to be accepted, ensure you bring crisp, clean, and new-looking bills, preferably printed after 2013. This cannot be overstated; a slightly damaged bill is effectively worthless here.

Daily Budget in Bolivia: What to Expect

Bolivia is renowned as one of South America’s most affordable travel destinations, offering incredible value for every type of traveler. Whether you’re counting every centavo or looking for a more comfortable journey, you can tailor your experience to fit your financial plan. Below are three common budget styles to help you estimate your daily expenses, excluding major multi-day tours like the Salar de Uyuni.

Backpacker Budget

For the traveler who prioritizes experiences over amenities, Bolivia is a paradise. A backpacker can comfortably get by on $25 – $35 USD per day. This budget is focused on local immersion, using public transport, and enjoying the simple, authentic offerings of the country.

• Accommodation: A bed in a shared hostel dormitory.
• Food: Filling and delicious set lunch menus (almuerzos) at local markets, street food for snacks, and cooking your own meals at the hostel.
• Transport: Using local micros (buses) and trufis (shared taxis) to navigate cities.
• Activities: Focusing on free activities like exploring city plazas, hiking in nearby hills, and visiting bustling markets.

Mid-Range Budget

If you appreciate a bit more privacy and comfort without breaking the bank, a mid-range budget of $50 – $80 USD per day offers a significant step up. This allows for more convenience, a wider range of dining options, and the inclusion of organized day trips.

• Accommodation: A private room in a well-located guesthouse (alojamiento) or a budget-friendly hotel, often with a private bathroom.
• Food: A mix of market lunches and dinners at casual local restaurants, with the occasional meal at a more tourist-oriented establishment.
• Transport: Taking official taxis for convenience and safety, especially at night, in addition to local transport.
• Activities: The flexibility to join organized day trips, such as a visit to the Tarabuco market from Sucre or exploring Tiwanaku from La Paz, and paying entrance fees for museums.

Luxury Budget

For those seeking a higher level of comfort, service, and exclusive experiences, a budget of $150+ USD per day opens up Bolivia’s premium offerings. This range accommodates high-end lodging, private transportation, and curated tours that provide deeper insight and convenience.

• Accommodation: Stays in boutique hotels, established international chains, or unique eco-lodges with top-tier amenities.
• Food: Dining at the country’s best restaurants, including acclaimed spots in La Paz and Sucre, and enjoying cocktails at sophisticated bars.
• Transport: Hiring private drivers for city and inter-city travel, taking domestic flights to save time, and using reliable taxi services exclusively.
• Activities: Engaging private guides for city tours, booking all-inclusive multi-day excursions with reputable companies, and enjoying premium versions of popular tours.

Detailed Cost Breakdown for Your Trip

Accommodation Costs

Bolivia offers a vast range of lodging options to suit any travel style, from social backpacker hostels to serene boutique hotels. Prices vary by city, with La Paz and Sucre sometimes being slightly more expensive than smaller towns, but overall, accommodation provides excellent value. For more information on where to stay, check out our guide to Accommodation in Bolivia.

• Hostel Dorms: A bed in a shared dormitory is the most economical choice, typically costing between 50 – 80 BOB ($7 – $12 USD) per night. These are great for meeting other travelers and are widely available in popular destinations.
• Private Rooms (Guesthouses/Hostels): For more privacy, a simple private room in a hostel or a local guesthouse (alojamiento) will cost around 120 – 250 BOB ($17 – $36 USD). These often come with a shared or private bathroom.
• Mid-Range Hotels: Expect to pay 280 – 550 BOB ($40 – $80 USD) for a comfortable mid-range hotel. This price usually includes a private bathroom, breakfast, and better amenities like Wi-Fi and heating, which is essential in the Altiplano.
• Luxury & Boutique Hotels: In larger cities, you can find high-end and unique boutique hotels starting from 700 BOB ($100+ USD) per night, offering premium comfort, service, and facilities.

Food & Drink Expenses

Bolivian cuisine is hearty, delicious, and incredibly affordable. Exploring the local food scene is not only a highlight but also one of the easiest ways to keep your budget in check. The value found in markets and local eateries is simply astounding.

• Street Food & Local Markets: This is where Bolivian food truly shines. Do not miss the almuerzo or menú del día, a set lunch offered everywhere from market stalls to small restaurants. For just 15 – 30 BOB ($2 – $4.50 USD), you’ll typically get a soup, a main course, and a drink. Be sure to try iconic street snacks like salteñas (savory baked pastries with a juicy filling), tucumanas (their deep-fried cousin), and anticuchos (grilled beef heart skewers). These are not just cheap eats; they are a fundamental part of the cultural experience.
• Casual Local Restaurants: A meal at a simple, sit-down local restaurant will generally cost between 40 – 70 BOB ($6 – $10 USD) for a main dish.
• Mid-Range & Tourist Restaurants: Dining in more tourist-oriented restaurants in cities like La Paz or Sucre will set you back around 80 – 150 BOB ($12 – $22 USD) for a main course and a drink.
• Cost of Drinks: A large bottle of water costs about 5 – 7 BOB. A local beer, such as the ubiquitous Paceña or the highland favorite Huari, is around 15 – 25 BOB in a restaurant. A cup of locally grown coffee in a nice café will cost about 15 – 20 BOB.

Transportation Within Bolivia

Getting around Bolivia is an adventure in itself. The country’s challenging geography means travel can be slow, but it is also very inexpensive. Understanding the best ways to travel is key, and you can find more details in our Bolivia Itineraries: 10 Days to 2 Months guide.

• Long-Distance Buses: Buses are the primary mode of transport for both locals and travelers. For overnight journeys, it is highly recommended to book a cama (fully reclining seat) over a semi-cama (partial recline) for a much more comfortable ride. The small price difference is well worth it. As an example, a cama bus ticket from La Paz to Uyuni (a 10-hour journey) typically costs between 100 – 150 BOB ($15 – $22 USD).
• Flights (Domestic): For covering the vast distances between regions like the Andes and the Amazon Basin, flying is a sensible option. It can save you from winding, multi-day bus journeys. The main domestic airline is BoA (Boliviana de Aviación). A flight from La Paz to Rurrenabaque (the Amazon gateway) can save you a grueling 20-hour bus ride.
• Local Transport: Within cities, public transport is cheap and efficient. Micros (small, colorful buses) and trufis (shared vans on fixed routes) cost as little as 2 – 3 BOB per ride. Taxis are also common; be sure to agree on the fare before getting in, as meters are rare. Ride-sharing apps like Yango are available in major cities and offer fixed, transparent pricing.

Major Tours & Activities Costs

Bolivia’s main attractions are its incredible landscapes and unique adventures, which are often best experienced through organized tours. These will likely be the largest items in your budget. For stunning visuals, check out our guide to Bolivia for photographers.

• Salt Flats Tour (Salar de Uyuni): The quintessential Bolivian adventure. A standard shared 3-day, 2-night tour typically costs between $130 – $200 USD per person. This price usually includes a driver/guide, 4×4 transport, basic accommodation, and meals. Exclusions to budget for are the entrance fee to the Eduardo Avaroa National Reserve (approx. 150 BOB), Isla Incahuasi (30 BOB), and extras like hot showers or snacks.
• Death Road Biking Tour: Cycling the “World’s Most Dangerous Road” is a major adrenaline rush. Prices range from $75 – $120 USD. The cost variance often reflects the quality of the bicycles, safety equipment, and the experience of the guides, so this is not an area to choose the absolute cheapest option.
• Amazon & Pampas Tours (Rurrenabaque): A 3-day pampas tour (focused on wildlife spotting) generally costs $150 – $200 USD, while a jungle tour into Madidi National Park might be slightly more. These prices usually include a guide, transport, lodging, and food, but not the park entrance fees (around 150-200 BOB).
• Museums & Entrance Fees: General entrance fees for museums and historical sites in cities like Sucre, Potosí, and La Paz are quite low, often between 10 – 30 BOB ($1.50 – $4.50 USD). More prominent sites, like the Casa de la Moneda (National Mint) in Potosí, may have higher fees.

Practical Money Management in Bolivia

Navigating finances in a new country can be daunting, but with a little preparation, managing your money in Bolivia is straightforward. The country operates primarily on cash, so understanding how to access and handle your funds is key to a smooth journey. For travel planning, consider the best time to visit Bolivia.

ATMs (Cajeros Automáticos)

Automated Teller Machines, or cajeros automáticos, are the most convenient way to get Bolivianos. They are widely available in major cities and tourist towns like La Paz, Sucre, Santa Cruz, and Uyuni. However, once you venture into smaller towns or rural areas, they become scarce or non-existent. It’s wise to withdraw enough cash before heading off the beaten path, perhaps exploring some Out of the Beaten Tracks places to visit in Bolivia.

Reliable banks to look for include Banco Nacional de Bolivia (BNB), Banco Mercantil Santa Cruz, and Banco de Crédito BCP. Withdrawal limits can vary, often ranging from $200 to $500 USD equivalent per transaction. Be aware that you will likely incur two sets of fees: one from your home bank for the foreign transaction and another from the local Bolivian bank for using their ATM. These fees can add up, so it’s often more economical to withdraw larger amounts less frequently.

For your security, follow these simple precautions when using ATMs:

• Use ATMs located inside banks or well-lit, busy areas whenever possible.
• Be aware of your surroundings and cover the keypad when entering your PIN.
• Check the card slot and keypad for any signs of tampering or skimming devices.
• Inform your bank of your travel dates to avoid having your card blocked for suspicious activity.

Using Credit & Debit Cards

While Bolivia is a cash-centric economy, credit and debit cards are accepted in some places. You can typically use them at larger hotels, upscale restaurants, major supermarkets, and established tour agencies in tourist hubs. Visa and Mastercard are the most widely accepted.

However, relying solely on plastic is not advisable. Many smaller businesses do not have card facilities, and it’s common for establishments that do accept cards to add a surcharge of 3-5% to cover their processing fees. For these reasons, cards are best used as a backup for larger, planned expenses rather than for day-to-day purchases.

Exchanging Currency

If you arrive with foreign currency (primarily USD or Euros), you’ll need to exchange it for Bolivianos. The best and safest places to do this are official exchange houses, known as casas de cambio. You’ll find them in major cities, and they generally offer competitive rates and a secure environment. Banks can also exchange currency, though their rates may be slightly less favorable and the process can be more time-consuming.

A strong word of caution: avoid exchanging money with street changers. While their offers might seem tempting, the risk of receiving counterfeit notes or being short-changed is extremely high. The potential savings are not worth the considerable risk of scams. Always count your money carefully before leaving the window at a casa de cambio.

The Importance of Cash & Small Change

Cash is truly king in Bolivia. From street food stalls and local markets to bus tickets and small guesthouses, cash is the only accepted form of payment. This is especially true outside of the main cities. Always aim to have a healthy supply of Bolivianos on hand. You might also find opportunities to purchase unique souvenirs, so check out our guide on Handcraft, Shopping and Souvenirs to bring back from Bolivia.

You will quickly discover the constant quest for cambio, or small change. Many small vendors, market sellers, and taxi drivers cannot break large bills like a 100 or 200 Bs. note for a small purchase. This can lead to frustrating situations where you’re unable to buy something simply because no one has change. To manage this, try to:

• Break larger bills whenever you can, such as when paying for groceries at a supermarket or a meal at a larger restaurant.
• Pay with the smallest denomination possible to accumulate a stash of smaller bills and coins.
• Always ask “¿Tiene cambio?” (Do you have change?) before making a purchase with a large bill.

Top Tips for Saving Money in Bolivia

Bolivia is already one of South America’s most affordable destinations, but with a few smart strategies, you can stretch your budget even further. Embracing local customs and making conscious choices will allow you to experience the best of the country without overspending, ensuring your funds go towards memorable experiences rather than unnecessary costs.

Eat Like a Local

The single best way to save money on food is to follow the lead of Bolivians. This not only benefits your wallet but also immerses you in the local culinary culture, which is both delicious and incredibly affordable.

• Prioritize the menú del día: At lunchtime, nearly every local restaurant offers a set lunch menu, known as an almuerzo or menú del día. For a very low price, you’ll typically get a soup, a main course (segundo), and a small drink or dessert. It’s the most substantial and cost-effective meal you’ll have all day.
• Shop at local markets: The central markets (mercados) are treasure troves for budget-conscious travelers. Here you can buy fresh, exotic fruits for pennies, grab a bag of coca leaves for high-altitude hikes, and find simple, filling snacks. It’s a vibrant experience and much cheaper than a convenience store.

Travel Smart

Getting around Bolivia can be a significant part of your budget, but choosing the right mode of transport can lead to substantial savings in both money and time.

• Take overnight buses: For long distances, like the popular route from La Paz to Uyuni, an overnight bus is a brilliant two-for-one deal. You cover the distance while you sleep, saving the cost of one night’s accommodation. Opt for a cama (fully reclining) or semi-cama (partially reclining) seat for a more comfortable journey.
• Use local transport for short distances: Within cities, skip the taxis for short trips. Instead, use the public transport system of micros (buses) and trufis (shared taxis on fixed routes). They cost a fraction of a private taxi fare and offer an authentic slice of daily Bolivian life.

Negotiate (Respectfully)

Bargaining is part of the commercial culture in certain contexts in Bolivia, but it’s crucial to know when it is and isn’t appropriate. A polite and friendly approach is always best.

• Where it’s appropriate: Haggling is expected and common in souvenir and handicraft markets, such as the famous Witches’ Market in La Paz. You can also sometimes negotiate the price of a taxi fare before you get in, especially if it’s not a metered cab.
• Where it’s not appropriate: Never try to negotiate prices in restaurants, cafes, hotels, or supermarkets where costs are clearly listed. The same goes for established tour agencies with published price lists. Doing so is considered disrespectful.

Choose Activities Wisely

While you shouldn’t miss out on bucket-list items like the Salar de Uyuni or a Death Road bike tour, you can balance these big-ticket expenses with plenty of low-cost or free activities.

• Balance big tours with free activities: For every major tour you book, plan a day of free exploration. Most Bolivian cities are wonderful to explore on foot. Spend time in the central plaza, admire colonial architecture, visit bustling local markets, or go for a hike in the surrounding nature. Many of the best travel memories come from these simple, unscripted moments.
• Look for group discounts: If you’re traveling with friends or meet people at your hostel, you can often get a better price on tours by booking as a group. Don’t hesitate to ask tour operators if they offer a discount for a certain number of people.