Guatemala’s striking landscapes, ancient Mayan historical sites and rich cultures draw millions of visitors each year, including many from the United States. Although it’s an increasingly popular travel destination, tourists tend to spend less per person here compared to the global average, according to the United Nations. That’s partly because of the lower cost of living and partly because of the favorable exchange rate for USD.
If you’re planning a trip and have been wondering how much money you should bring to Guatemala, here’s how to figure it out.
Key takeaways
- The amount of money you should bring to Guatemala depends on your travel style, number of days you’ll be staying, and number of people traveling with you.
- Establish a daily travel budget of between $50 and $120 per person, depending on how luxurious you’d like your visit to be.
- You’ll likely pay for many of your purchases in cash in quetzales, the local currency.
- Check the USD to GTQ exchange rate before you go so you know how far your money will take you.
Guatemala money basics
Before you can decide how much to bring, it first helps to understand the basics of money in Guatemala.
How much money to bring to Guatemala?
You can bring as much money as you like to Guatemala, but if it’s more than $10,000, you’ll need to notify customs officials. They’ll ask you where the money came from and what you’re using it for.
If you plan to bring a declarable amount, plan ahead for the extra time you’ll spend with Customs, both in the US at your departure and on your arrival in Guatemala. To speed things up, you can file your US customs report online.
How much money can I bring from Guatemala to the USA?
When you come back to the US, you can bring any amount of cash you like. However, you’ll need to declare amounts over $10,000 to U.S. Customs and Border Protection (CBP) officials, just like when you left.If you’re traveling in a family or group, the $10,000 applies to the group collectively, not per person.
Do you need quetzales in Guatemala?
Yes, you’ll want to have when traveling in Guatemala. The US dollar is accepted in many tourist destinations, like Antigua and Lake Atitlan. However, quetzales are the common method of payment for small everyday expenses, like food market purchases.
Knowing the exchange rate can help you figure out how much money you should bring to Guatemala. The USD to GTQ exchange rate tells you how many GTQ you can exchange for US dollars — it’s usually around 7–8GTQ for $1 USD. You can exchange US dollars for Guatemalan quetzales (GTQ) at many places, including ATMs and banks.
You’ll find many ATM machines in cities and at tourist areas. To avoid drawing the attention of thieves, choose well-lit machines in populated areas,
Can I use a credit card in Guatemala?
Yes, you can use a credit card in Guatemala. Visa and Mastercard are typically accepted, though the vendor may charge a fee. Not all vendors accept credit cards, so you may want to bring more than one type or keep some cash to use as backup.
Keep in mind your credit card issuer may charge foreign transaction fees, too, which are often 1% to 3% of the purchase price, on top of the 7% to 10% the vendor may charge. To avoid steep credit card fees in Guatemala, consider using a mix of cards and cash.
You may need to alert your credit card company that you’ll be traveling out of the country so they don’t flag your account for fraud.
Factors to consider when deciding how much money to bring to Guatemala
To calculate how much money you should bring to Guatemala, there are three factors to consider:
- The duration of your stay
- The number of people traveling with you
- Your daily travel budget
1. The duration of your stay
The length of your stay directly affects your total budget. The more days you spend in Guatemala, the more money you’ll need to cover your expenses. Each day will require money for food, accommodations, and transportation.
Don’t forget to budget for unforeseen expenses, too. You may want to pick up a unique souvenir, for example, or tip the porter at the hotel for carrying your bags. If you’ll participate in guided tours or other excursions, you’ll want to have some money set aside for that as well.
2. The number of people traveling with you
How much money to bring to Guatemala also depends on how many people are in your party. The more travelers you have, the more money you’ll spend on dining, lodging, and incidentals. Large groups may require chartering a bus for transportation or renting a villa or bed-and-breakfast as accommodations.
Make sure you budget for everyone who will be traveling with you. Choose an amount that will allow everyone to relax and enjoy themselves without worrying about every last quetzal. But if funds are tight, it’s possible to send money to Guatemala to cover additional expenses.
3. A daily travel budget
Establish a daily, per-person travel budget that you can use to calculate your total costs for the trip. Your daily budget will depend on the style of traveling you plan to do:
- Budget-friendly: You don’t mind sleeping in hostels, riding chicken buses, and eating at local restaurants (comedores). A budget of $35-50 per person per day will likely be right for you.
- Mid-range: You’d prefer private rooms and shuttle transportation, so a budget of about $60 to $90 per day might be better.
- Luxury: If you want boutique hotels, fine dining, and private transportation, budget about $120 and up per person per day.
Understanding exchange rates
Exchange rates can have a big impact on your costs when traveling in Guatemala. Even small differences in the rate can add up and make your trip more expensive than it needs to be.
Banks and financial institutions in Guatemala tend to have better exchange rates than more convenient exchange locations like hotels, airports, and other tourist areas. Some large Guatemalan banks include Banco Industrial and BanRural.
Many tourists have complained about the high exchange rates at some ATMs and the hidden fees they charge. There may also be a daily cap on withdrawals, which could interfere with your plans. As an alternative, look for other ways to send money that provide transparent fees and exchange rates before completing your transaction.
Western Union: Your travel partner
Once you know how much money to bring to Guatemala, you can explore other methods to get it there. Western Union offers safe and reliable ways to send money to Guatemala so you can manage your finances while you travel. Pick up cash in quetzales, calculate money transfer costs, or send money to someone else.
You can start a money transfer online and complete it in person, or use our international money transfer app to send funds anytime. Find a Western Union location near you.
FAQs
You can travel comfortably in Guatemala for less than $100 per day. A mid-range daily travel budget would be about $60 to $90. Less than $50 per day is doable if you don’t mind sharing lodging and transportation with strangers.
It’s best to use a mix of cash and cards when traveling in Guatemala. Many places accept Visa and Mastercard, but you could find yourself paying steep foreign transaction fees and vendor fees on each purchase. Most vendors will accept cash payments, but credit cards aren’t always accepted.
While ATMs and foreign exchange services are conveniently located near tourist destinations and airports, you may find better exchange rates by visiting local banks or using a money transfer service like Western Union.
There’s no limit on the amount of money you’re allowed to bring to Guatemala from the US, but you will have to declare any amount over $10,000 to customs officials.
There’s no need to get quetzales before going to Guatemala. You can exchange US currency on arrival.
