Bolivia Economy – overview
Bolivia is a resource rich country with strong growth attributed to captive markets for natural gas exports. However, the country remains one of the least developed countries in Latin America because of state-oriented policies that deter investment and growth.
Bolivia Overview – World Bank
World Bank Economic Report for 2104. Thanks to high commodity prices and a prudent macroeconomic policy, economic growth has averaged 4.9% since 2004. The country has had current account surpluses since 2003 and significant fiscal surpluses between 2006 and 2013. In 2014, the fiscal deficit exceeded 3% of GDP due mainly to extraordinary expenses incurred in response to natural disasters at the beginning of the year.
Industry Trends & Business Climate
Bolivia GDP Growth Rate
The Gross Domestic Product (GDP) in Bolivia expanded 3.51 percent in the first quarter of 2015 over the previous quarter. GDP Growth Rate in Bolivia averaged 2.19 percent from 1991 until 2015, reaching an all time high of 17.60 percent in the first quarter of 2004 and a record low of -15.70 percent in the fourth quarter of 2008. GDP Growth Rate in Bolivia is reported by the Instituto Nacional de Estadística de Bolivia.
Economy of Bolivia
The economy of Bolivia is the 95th largest economy in the world in nominal terms and the 87th economy in terms of purchasing power parity. It is classified by the World Bank to be a lower middle income country
Establishing a Presence
Business Types – [PDF]DOING BUSINESS IN BOLIVIA
The most common business enterprises incorporated under Bolivian law are Corporations and …. activities in Bolivia by complying with a special registration
Starting a Business in Bolivia
a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Bolivia.
Establishing a Company in Bolivia
The Ministry of Productive Development and Plural Economy, the Audit Authority and Social Control – FUNDAEMPRESA have worked together to provide business investors with practical guidelines to register and incorporate companies in Bolivia with the Registry of Commerce.
Bolivia – Doing Business
Comprehensive report on all aspects of doing business in Bolivia from the World bank. PDF Downloadable.
Start-up procedures to register a business (number) in Bolivia
Start-up procedures to register a business (number) in Bolivia
Corporate Taxes – Paying Taxes in Bolivia
Paying Taxes in. Bolivia. Below is a detailed summary of the taxes and mandatory contributions that a medium-size company must pay or withhold in a given
Corporate Taxes – Bolivia Corporate Tax Rate
The Corporate Tax Rate in Bolivia stands at 25 percent.
Personal Income Taxes – Bolivia Personal Income Tax Rate
The Personal Income Tax Rate in Bolivia stands at 13 percent.
Sales Tax – Bolivia Sales Tax Rate
The Sales Tax Rate (VAT) in Bolivia stands at 13 percent. In Bolivia, the sales tax rate is a tax charged to consumers based on the purchase price of certain goods and services. The benchmark we use for the sales tax rate refers to the highest rate. Revenues from the Sales Tax Rate are an important source of income for the government of Bolivia.
Work Permit for Bolivia
If a foreign national desires to prolong his/her stay beyond the 90 allowable days under the Specific Purpose visa, he/she must apply for a Temporary Residence Visa.
Bolivia visa application form, requirements and instructions
Travisa Passport and Visa Service for Bolivia visa application. Bolivian visa support for business, tourist, and all types of travel to Bolivia.
Getting around Bolivia on local transport
A summary of all forms of public transportation in Bolivia
Getting around | About Bolivia
Bolivia’s topography, size and lack of basic infrastructure means that getting around is often a challenge. The majority of Bolivia’s road network is unpaved, and most main roads are in a poor condition.
Telecom/IT – Bolivia Telephone system – Telecommunications
Telephone system: general assessment: Bolivian National Telecommunications Company was privatized in 1995 but re-nationalized in 2007; the primary trunk system is being expanded and employs digital microwave radio relay; some areas are served by fiber-optic cable; system operations, reliability, and coverage have steadily improved.
Telecoms, Mobile, Broadband and Digital Media
The structure of Bolivia’s fixed telecom market is different from most other countries. Local services are primarily provided by 15 telecom cooperatives.
[PDF]LABOR AND EMPLOYMENT DESK BOOK BOLIVIA
PDF Download: Do you have a plant closing law in your jurisdiction and if so, what does it require … Bolivian law follows the principal of employment unremovability, furthermore
Labor Market Regulation in Bolivia
This site provides a detailed summary of some of the labor regulations that would apply to local entrepreneurs wishing to hire workers, organize working schedules, or make workers redundant for economic reasons in Bolivia.
Social Insurance – Unemployment Regulations Bolivia
See Section 3 of this PDF download in this report from the Inter-American Development Bank
Social Insurance Bolivia Social Security
No statutory unemployment benefits are provided. Labor law requires employers to grant severance pay to dismissed employees. Dismissed workers are covered for medical and maternity benefits for up to two months after employment ceases.
Standard of Living – Cost of Living in Bolivia
Cost of living information includes price indices for rent, food, utilities, transportation, restaurants, clothing and more
Business Etiquette – BoliviaBella.com
The most important thing to know about business etiquette in Bolivia is that Bolivians prefer to do business with people they know and trust and will often keep their business dealings within a close-knit family
Business Etiquette – Bolivia – Language, Culture, Customs and Etiquette
Spanish is the main and official language of Bolivia. However there are some 39 other living languages used in the country spoken by people in different regions. Examples include Aymara, Chiquitano, Chiriguano and Guyara.
Safety – Crime and Safety Report – OSAC
Most major cities in Bolivia have “Medium” threat ratings for crime, while Santa Cruz remains “High” on the Department of State’s threat rating scale. Violent crimes such as assault and robberies against foreigners are statistically low but do occur. In general, if tourists take basic security precautions, they may walk the streets in most areas of major cities without becoming victims of crime.
Safety in Bolivia
Go to “Safety and Security” on this US Department of State site
Climate – Bolivia Weather, Climate and Geography
Bolivia has a temperate climate but temperatures can differ dramatically between day and night. The wettest period is November to March, which, in extreme circumstances, may induce landslides in mountainous areas, and cause certain roads to become impassable. Winter is perhaps the best time to visit (May-October), especially in the hot and humid lowlands, as it is cooler and drier.
Climate – Weather and Climate in Bolivia
Consisting of temperate valleys, semi-arid highlands, humid jungles and balmy lakeside villages, Bolivia’s weather differs greatly depending on the altitude and topography of the region.
Education in Bolivia
The Bolivian public education system is very lacking in terms of organization and quality, although improvements are ongoing. The schools are often not well maintained, and many don’t have adequate furnishings or classroom materials. Teachers often go on strike (closing down the schools for days or weeks on end) to protest for higher wages or other issues. Foreigners moving to Bolivia generally choose to stay away from the Public Schools, including the state universities.
Education & Schools – Bolivia Education System
The Bolivian school education system is flawed in many ways. School time is split into 2 shifts (morning and afternoon) so everything is compressed and there is little time for things that make education pleasurable. State schools are underfunded and in poor repair too. The first 6 years at primary school are free and theoretically compulsory, although in practice approximately 20% of children receive no benefit.
Holidays and observances in Bolivia
Overview of holidays and many observances in Bolivia
Demographic information includes population, quality of life, health, sports, technology, energy and the environment
Organization of American States: INFORMATION on BOLIVIA. Trade Policy Review of Bolivia (all files are in PDF format).
Trade Agreements – OAS Bolivian Trade Agreements
Organization of American States: Bolivian Trade Agreements(all files are in PDF format).
Housing and Rentals
Bolivia Hotels, Hostels & Accommodation
Bolivian accommodations are among South America’s cheapest, though price and value are hardly uniform. Be aware that with the exception of the international hotel chains, the star ratings for hotels are not based on the recognized international rating system.
Renting an Apartment or House in Bolivia
It is easy to rent (alquilar in Spanish) in Bolivia and depending on the location there are usually many options to choose from.
Bolivia te espera
Bolivian Ministry of Tourism and Travel