Best value country to live in South America? Colombia!

Colombia, a country bordering Venezuela, Panama, Ecuador, Brazil, and Peru. Colombia has lively cities, great food, and warm people. What makes all of these things better is the cost of living. As of this writing, the exchange rate for USD to Colombia pesos is ~$4,400. Exchange rate does tell you the whole story, but does give you an indication into how far you can stretch your USD. If you were to visit Colombia for a few weeks vacation, you can expect to spend around two or three hundred dollars per week on food, attractions, transportation, and any shopping. A far cry from many popular vacation destinations. Let’s take a look at how this breaks down if you want to live in Colombia for an extended period of time, such as a tourist.

Cost of Living

Just like our article on cost of living in Mexico (link), I will be using cost of living sources from user generating cost of living websites such as Numbeo, sources below. To help provide some perspective, I will share with you some of the expenses I incurred during my first visit to Colombia. 

I am in a relationship, however I like to view the cost of living as a single person who does not split their expenses to capture the full picture. Most of the expenses will be an average of what I find, but I will provide ranges for a few. All figures represented in USD.

Breakdown of Monthly Expenses

Rent: $200-$700 depending on location, size, and furnished vs unfurnished. You can find cheap rent in nice areas if you look

Utilities (gas, electricity, trash, etc): $60

Internet (60+ mbps): $25

Transportation: $50

Groceries: $75

Healthcare: $30

Restaurants: $50

Cafe: $15

Cleaning: $20

To calculate the total, I will assume a modest apartment near a city center with 1 bedroom, renting for $400 a month.

Approximate total: $725 per month, for a reasonable spender. If you are a remote worker, or have some passive income coming in. There should be no problem covering basic needs and much, much more. 

What does this actually get you?

Something which is not common in most western countries like the US, is hiring a cleaning person. A luxury that many, including myself, would die for if it was affordable in my home country. In Latin America, Colombia especially, hiring someone to clean your home is not only common, but many in the middle class or even lower middle class, are able to afford at least one or two cleanings a month. 

When I visited my significant other’s family, who live in Bogotá. I got to experience these prices first hand. Most meals we had were at middle to low end restaurants. Places where you will see locals, and maybe some gringos like myself at. Places with energy, but not unapproachable for locals. I wanted a real Colombian food experience, and I got it. 

Huge portions, lots of variety, and cheap is the name of the game for food in Colombia. I averaged about $7 per meal that included a drink, side, and main dish. To cook the same meals, you can expect even lower prices than this, most meals cooked at home will cost around $1 per serving.

Uber, while illegal (more of a gray area), will cost you no more than $5 with tip, on average. Over the course of 3 weeks in Colombia, the most expensive Uber ride I took was $11. 

Most Airbnb’s I stayed or considered, were in city centers near the trendy neighborhood, such as Chapinero, Bogotá. Typical nightly rates for these Airbnb’s will range from $25-$50 per night depending on how many amenities it comes with. Not bad if you want to get a feel for the city.

Seeing these numbers might make you think Colombia is the cheapest place on Earth! And honestly, it typically is, however its importance to understand the average wage in a major Colombia city is ~$300. So as guests in their country, I believe it is best to at least tip more than you would normally, be incredibly grateful when receiving good service, and to show the Colombian people the same respect you should give anyone. 

Sources:

https://www.expatistan.com/cost-of-living/country/colombia?currency=USD

https://livingcost.org/cost/colombia

https://www.numbeo.com/cost-of-living/country_result.jsp?country=Colombia&displayCurrency=USD