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Bolivia: Doing business & staying in touch
Doing business in Bolivia
Business culture in Bolivia tends to be relatively formal, particularly at the beginning of a professional relationship. A handshake is the usual greeting, and titles such as Señor, Señora, Doctor and Doctora are commonly used together with surnames. Business dress is generally conservative, particularly in La Paz and other major commercial centres.
Personal relationships and trust are important, and meetings may begin with general conversation before business is discussed. Face-to-face contact is valued and negotiations can take time, particularly where several levels of an organisation are involved in a decision. Spanish is the principal language of business; English is spoken in some international companies and tourism-related businesses but should not be assumed.
Visitors should arrive punctually for business appointments, although meetings may not always begin exactly on time. Business cards are commonly exchanged, and a Spanish translation is useful when dealing regularly with Bolivian contacts.
Business lunches are common and may provide an opportunity to develop relationships as well as discuss work. A courteous and patient approach is advisable, and visitors should avoid pressing for immediate decisions. When dealing with government departments or more traditional organisations, procedures can be formal and may take longer than expected.
Mon to Fri: 08:30 to 12:30 and 14:30 to 18:30. Hours vary between organisations, and some businesses remain open through the lunchtime period.
Bolivia's economy is based on mining, hydrocarbons, agriculture, manufacturing and services. The country has substantial mineral resources, including zinc, silver, tin and lithium, while natural gas has traditionally been an important source of export earnings. Mining remains particularly significant in the Andean highlands, while agriculture and agribusiness are concentrated largely in the eastern lowlands.
Santa Cruz is the country's principal commercial and agricultural centre, surrounded by an important farming region producing soybeans, sugar cane, maize, sunflower and livestock. Other agricultural products include quinoa, coffee, Brazil nuts and a wide range of highland and tropical crops. Manufacturing includes food and beverage processing, textiles, petroleum products and other goods for the domestic and regional markets.
Bolivia has some of the world's largest lithium resources, concentrated particularly in the salt flats of the southwestern Altiplano, and efforts are under way to develop the industry commercially. Services account for a substantial part of economic activity, particularly trade, transport, finance and public services, while tourism supports businesses in destinations such as La Paz, Uyuni, Sucre and Lake Titicaca.
Natural gas, gold, zinc and other mineral ores, silver, soy products, tin, Brazil nuts and meat.
Machinery and electrical equipment, vehicles and transport equipment, refined petroleum products, chemicals and pharmaceuticals, and manufactured consumer goods.
Keeping in Touch in Bolivia
Mobile coverage is good in La Paz, Santa Cruz, Cochabamba, Sucre and other cities and larger towns but becomes patchy or unavailable in remote mountain, rainforest and rural areas. The principal mobile operators are Entel, Tigo and Viva. Prepaid SIM cards are widely available; identification is required to register a SIM card.
Wi-Fi is widely available in hotels, hostels, cafés and restaurants in the main cities and tourist centres. Connections are generally adequate in urban areas but can be slower or unreliable in remote regions. Mobile data is widely used where network coverage is available.
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