La Paz is one of the world’s most unique large cities, partly due to its extreme altitude and never-changing climate. It’s scenic, friendly, and a bit exotic due to it being hard to access for outsiders until recently.
This is one of the more affordable large cities in South America, with good bargain hotel rooms and very cheap hostel beds. The main attractions are also very cheap by international standards, so the flight to La Paz itself is likely to be the main cost concern.
Food and drinks can be found in nearly all price ranges, with authentic local dishes being very affordable and filling, while dishes in tourist restaurants can be rather pricey.