Bolivia, a landlocked country in the heart of South America, is renowned for its rich cultural heritage, diverse ecosystems, and vibrant traditions. While the nation is often celebrated for its unique tourist attractions, outbound tourism is a growing trend among Bolivians. This phenomenon is influenced by various factors, including historical context, geographical attributes, economic conditions, and travel freedom facilitated by international travel indices.
TTW Editor-in-Chief Mr. Anup Kumar Keshan stated: “This initiative marks a monumental shift for Bolivia’s outbound travel industry, empowering Bolivian citizens to explore the world with unprecedented ease. With visa-free access to 80 countries as of latest August 2024 update, including key destinations such as Brazil, Argentina, Chile, and the Schengen nations, Bolivia is not only enhancing global mobility but also strengthening its cultural and economic ties with these countries. This move will undoubtedly encourage more Bolivian travelers to embark on international adventures, enriching their experiences and fostering global connections.”
Country Economics and GDP
In 2023, Bolivia’s GDP reached $45.85 billion, placing it 95th among the 196 countries listed in global GDP rankings. This marks an increase of $1.535 billion from the previous year. The GDP per capita in Bolivia for 2023 was $3,796, reflecting a $127 rise from the 2022 figure of $3,669.
Outbound Tourism Dynamics
In Bolivia, the Travel & Tourism market is projected to reach $525.60 million by 2024, with an expected annual growth rate (CAGR 2024-2029) of 5.44%. This growth will result in a projected market volume of $685.10 million by 2029. The largest segment within Bolivia’s Travel & Tourism market is the Package Holidays sector, anticipated to reach a market volume of $327.10 million by 2024.
By 2029, the number of users in the Package Holidays sector is expected to amount to 1.96 million. User penetration in this market is projected to rise from 19.6% in 2024 to 25.5% by 2029. The average revenue per user (ARPU) in this sector is expected to be $213.10. Additionally, 64% of the total revenue in Bolivia’s Travel & Tourism market is expected to be generated through online sales by 2029.
According to UNWTO data, Bolivian tourists spent approximately 393 million U.S. dollars on international travel in 2021. Of this expenditure, nearly 15 percent was attributed to passenger transport, with the majority allocated to other travel-related costs.
In 2020, Bolivia recorded 432,000 international departures. Over the past 25 years, the number of Bolivian travelers abroad peaked at 1,160,000 in 2019, while the lowest figure was 201,000 in 2000.
In a global comparison, the United States is projected to generate the most revenue in the Travel & Tourism market, with an estimated $214 billion in 2024. Bolivia’s travel and tourism market is gaining popularity due to its rich cultural heritage and diverse natural landscapes, making it an increasingly attractive destination for both domestic and international travelers.
As of the latest August 2024 updates, Bolivian citizens, can access 80 countries without a prior visa or in some countries may need visa on arrival or e-visa. This relative ease of travel has contributed to the rising trend of outbound tourism among Bolivians, who are increasingly exploring destinations beyond their national borders.
Prominent Airlines
Bolivia’s outbound tourism is supported by several prominent airlines that operate both within the country and internationally. The key airlines include:
Boliviana de Aviación (BoA): The national airline of Bolivia, BoA operates a comprehensive network of domestic and international flights. It connects major Bolivian cities with destinations in South America, North America, and Europe.
Amaszonas: A regional airline that offers flights to neighboring countries and plays a crucial role in connecting remote areas within Bolivia to international destinations.
LATAM Airlines: As part of the larger LATAM Group, this airline provides extensive connectivity between Bolivia and various international destinations across South America, North America, and beyond.
These airlines ensure that Bolivians have access to a wide range of international destinations, facilitating the growing trend of outbound tourism and enabling Bolivian travelers to explore the world with greater ease and convenience.