Living Costs In Bolivia: How Much Money Do You Need?

Bolivia is the cheapest country in Latin America and the fourth cheapest in the world. The cost of living in Bolivia is 61.5% lower than in the United States, with rent being 81.8% cheaper. A retired couple can live a very comfortable life in Bolivia for around $1,550 per month, while a single person can live comfortably on $477.40 or $500 to $800 per month. The average salary after taxes in Bolivia is $397, which is enough to cover living expenses for 0.6 months. The cost of living in Bolivia varies depending on social class, with lower-class Bolivians spending around $250 per month and rich Bolivians spending upwards of $3,500 per month.

Cost of renting in Bolivia

The cost of renting in Bolivia is, on average, 81.8% lower than in the United States. For example, a retired couple can expect to pay around $1,550 per month for a two-bedroom, centrally located, furnished apartment. A single person estimated monthly cost without rent is $477.4, or $5,135 with rent.

In the city of Sucre, a couple could live well on $1,000 per month, and a single person could live on $600 to $800. Steve Nagy, a US expat, pays less than $300 per month for a one-bedroom apartment in the city's historic district, including internet and weekly maid service.

In the city of Cochabamba, a three-bedroom condo in an upscale neighbourhood typically rents for between $600 and $800 per month. However, if you want to live in the nearby countryside, you can find cheaper options, such as a three-bedroom house in Tiquipaya for just $200 per month.

In the southern city of Tarija, U.S. expat Nathan Salveson pays $200 per month for a one-bedroom apartment in a safe, central neighbourhood, including all utilities and cable television.

Cost of food in Bolivia

The cost of food in Bolivia is relatively affordable, with the average daily cost of meals for one person estimated at $17 (115 Bolivianos) or $6.64 (46 Bolivianos) per meal. This makes Bolivia one of the most affordable countries in Latin America and the world for travellers and expats.

For example, in the southern city of Tarija, a family-sized platter of grilled meats with access to a salad bar costs only $12. In the city of Sucre, a delicious four-course lunch at Chifa Thai costs just under $3.

The cost of food in Bolivia varies depending on the type of restaurant and the location. While meal prices can vary, the average cost of food is $17 per day for one person. Breakfast prices are usually cheaper than lunch or dinner. The price of food in sit-down restaurants is often higher than in fast-food or street food options.

For those who choose to cook at home, here are some average food prices in Bolivia:

• 1 kg of boneless chicken breast: $5 (35 Bolivianos)
• 1 litre of whole milk: $1.09 (7.5 Bolivianos)
• 1 kg of tomatoes: $1.12 (7.75 Bolivianos)
• 0.5 kg of local cheese: $2.64 (18.3 Bolivianos)
• 1 kg of apples: $1.48 (10.25 Bolivianos)
• 1 kg of potatoes: $0.89 (6.15 Bolivianos)
• 0.5 litres of domestic beer: $1.12 (7.75 Bolivianos)
• 1 bottle of good quality red table wine: $2.75 (19 Bolivianos)
• 2 litres of Coca-Cola: $1.18 (8.15 Bolivianos)
• Loaf of fresh white bread: $1.58 (11 Bolivianos)
• 1 kg of rice: $1.12 (7.75 Bolivianos)
• 1 kg of chicken fillets: $3.83 (26.5 Bolivianos)
• 1 kg of beef round: $5.32 (36.8 Bolivianos)

These prices demonstrate that the cost of food in Bolivia is generally affordable, especially when compared to other countries in the region and the world. However, it is important to note that prices may vary depending on location and the type of food or beverage.

Cost of transport in Bolivia

Bolivia is a backpacker's dream when it comes to value for money. It is the cheapest country in Latin America and the fourth cheapest in the world.

Public transport in Bolivia is abundant and affordable. In cities, you'll find old-school buses decorated with colourful paint and tassels, as well as taxis. The bus system can take you anywhere you want to go, and the cost of a one-way ticket is $0.30. Longer journeys by bus cost around $2 per hour.

A 5-minute taxi ride costs around $1, and a first-class public bus ride is $2 per hour.

If you're looking to travel between cities, a one-way airline ticket can be purchased for as little as $27. A flight from La Paz to Sucre, for example, costs around $80 per person.

Other Costs of Living in Bolivia

Bolivia is a very affordable place to live. A retired couple can live a very comfortable life for around $1,550 per month, and a single person can live on $600 to $800 per month.

Accommodation is also affordable, with dorm beds in hostels going for as little as $6 to $12 per person, and private double rooms for around $25 per couple.

Eating out is also cheap, with a steak dinner at a nice restaurant costing around $15, and a traditional guinea pig meal costing $10. A bottle of beer in a restaurant is $2, and a loaf of bread is $0.50.

Bolivia is a great place to visit or live on a budget without compromising your travel ambitions or standard of living.

Cost of utilities in Bolivia

Bolivia is the cheapest country in Latin America and the fourth cheapest country in the world. The cost of living in Bolivia is, on average, 61.5% lower than in the United States.

The cost of utilities in Bolivia depends on the type of accommodation, the number of people living in it, and the location. For example, the utilities for a 45 sqm studio in the city centre, occupied by one person, cost around $b5,135 per month. This includes heating, electricity, gas, water, and garbage collection.

On the other hand, utilities for a two-person household in an 85 sqm flat cost around $b12,806 per month. This price also includes heating, electricity, gas, water, and garbage collection.

The average price of residential electricity in Bolivia has been increasing over the years, surpassing $12 per megawatt-hour in 2019, a nearly 20% increase compared to 2014.

It is worth noting that the cost of living in Bolivia can vary depending on the city and region. For example, the city of Cochabamba is one of the more expensive cities in Bolivia, but it is still far more affordable than any city in North America.

Overall, Bolivia offers a very affordable cost of living, with low prices for transportation, dining out, and basic necessities.

Cost of entertainment in Bolivia

Bolivia is the cheapest country in Latin America and the fourth cheapest in the world. A single person's estimated monthly costs are $477.40 (without rent) or $5,135 (including rent). A couple can live very comfortably in Bolivia for around $1,500 per month, although it is possible to live on much less.

Entertainment and activities in Bolivia typically cost an average of $18 per person per day, based on the spending of previous travellers. This includes fees for admission tickets to museums and attractions, day tours, and other sightseeing expenses.

For example, a one-way ticket for local transport costs $0.75, a nice bottle of locally produced table wine costs under $3, and a family-sized platter of grilled meats with salad bar access is $12. A four-course lunch at Chifa Thai in Sucre costs just under $3.

Bolivia has a variety of entertainment options, including:

• Cinema
• Music
• Performing arts
• Professional wrestling
• Radio
• Sports
• Television
• Theatre
• Entertainment venues

Frequently asked questions