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2020 International cost of living and hardship / quality of living data for 780 global locations.


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Cost of Living Reviews by City and Country for 780 International Locations

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Colombia, All Areas
Overview

Colombia, All Areas

Cost of living in Colombia, prices and what it is like to live for an Expat, quality of life / hardship, and compare cost of living for Expatriates as at July 2020.

What is it like to live in Colombia?




Climate: The climate is tropical along coast and the eastern plains, but cooler in the highlands.

Language: The official language is Spanish. Many Colombian businesspeople speak English and so do most reception staff at business-class hotels in main cities. It is appreciated if visitors try to speak Spanish. Other languages are not widely spoken, but hotels can generally aid visitors by hiring interpreters for them if required.

Religion: Christianity.

Economy: The economy of Colombia is that of a free market economy with major commercial and investment ties to the United Nations. Transition from a highly regulated economy has been underway for more than a decade.

Inflation: 1.97% for Colombia as at July 2020.

Money: The currency of Colombia is the Colombian Peso (COP). US dollars are easily exchangeable. Use credit and debit cards and ATMs with vigilance as crime rates are high.

Tax: In Colombia is based on the current personal income tax rates which are progressive up to 39%. The value of each tax unit (UVT) is equivalent to COP 34,270 for fiscal year 2019.

Population: 50.8 Million (2020 est.)

Expat Life: Business introductions are usually formal, for example it is expected to use formal professional titles followed by surname. Expatriate dress code is formal. The safety risk for expatriates in Colombia is medium, but high in rural areas and near the borders with Venezuela and Ecuador. Risks include street crime, including violent crime, abduction in some remote areas, and terrorism.

Health Care: Health care facilities vary widely. Private clinics in large cities provide good quality care all levels of treatment. However public health facilities, particularly in smaller cities are generally not properly equipped and poorly funded. The Coronavirus COVID-19 total reported cases for Colombia as at 14 August 2020 is 433,805, with 14,145 deaths. The rate of deaths per 1 million population is 278.

Colombia covers all areas within the country other than Bogota.


Cost Of Living

What is the cost of living in Colombia?



The cost of living for expatriates in Colombia as at July 2020 is very low in comparison to other places in the world, with an overall Cost of Living Index (COLI), for all 13 basket groups, of 40.13 (New York =100). We have collected prices for the same items, world wide, based on Expat spending norms, in or closest to the location, and converted them to $USD so that we can compare the cost of 13 different baskets in 780 global locations. For each basket, compared to New York, the equivalent cost in Colombia is as follows:

1) Alcohol and/or Tobacco: Cost is low for items such as beer, spirits, wine and tobacco related products such as cigarettes. A basket costing USD$1,000 in New York costs USD$570. Average price in a store for a midrange bottle of wine is USD$10.52, domestic/local beer (500ml) USD$1.05, imported/international beer (330ml) USD$1.87 and a pack of 20 cigarettes is USD$2.26.

2) Clothing: Cost is low for items such as business, casual and children's clothing and footwear. A basket costing USD$1,000 in New York costs USD$630. Average price for an international brand of mens jeans is USD$46, a quality international brand of running shoes USD$65, mens leather shoes suitable for office wear USD$61 while a medium size international summer dress from a global chain store is USD$31.

3) Communication: Cost is low for various communication costs such as home telephone rental, internet subscription, mobile service provider tariff and data costs. A basket costing USD$200 in New York costs USD$118. Average price for a monthly standard plan internet subscription is USD$29, while the benchmark mobile tariff is USD$0.05 per minute.

4) Education: Cost is low for items such as creche / pre-school fees, primary school fees, high school fees and tertiary study fees. A basket costing USD$30,000 in New York costs USD$15600. Average annual private international school fee (excluding extras) USD$10,150 for Primary School, and USD$11,295 for High School.

5) Furniture & Appliances: Cost is average for items such as dining table and chairs, home entertainment, kitchen appliances, and sofas. A basket costing USD$2,500 in New York costs USD$1750. Average price for a 6kg front loader Washing Machine is USD$649, and USD$557 for a 46+'' LED UHD TV.

6) Groceries: Cost is very low for items such as consumables, cleaning products, dairy, fresh fruit & vegetables, general food products, snacks, soft drinks. A basket costing USD$1,000 in New York costs USD$410. Average grocery prices in a major international retail store for 1 kg apples is USD$2.26, 1 kg oranges USD$1.22, 1 head lettuce USD$0.90, 1 kg potatos USD$0.87, 1 kg boneless, skinless, chicken breast USD$4.20, 1 kg cheddar cheese USD$3.95, 1 dozen large eggs USD$1.82, 500g loaf white bread USD$1.09, 1 L full cream milk USD$0.91, and 1.5 L water USD$0.96.

7) Healthcare: Cost is very low for general heath care, doctor visits, hospital stays, non-prescription medicine, and medical insurance. A basket costing USD$1,000 in New York costs USD$420. Average healthcare cost for a private practice Doctor visit for an uninsured patient is USD$34, and a private hospital stay per day including nursing care, medications, diagnostic tests, food, and related costs is USD$1,037.

8) Household Accommodation: Cost is very low for items such as apartment rent, house rent, property purchase, mortgage rate, and utilities. A basket costing USD$5,000 in New York costs USD$1250. Average expatriate house / apartment rent for a secure upmarket unfurnished apartment (3 bedrooms) is USD$1,050 in a central location, and USD$733 in a suburban location, per month, excluding utilities.

9) Miscellaneous: Cost is low for items such as dry cleaning, linen, magazines, newspapers, office supplies, and postage stamps. A basket costing USD$500 in New York costs USD$265. Average price for dry cleaning (1 mens 2 pc suit) is USD$5.14, while an international newspaper is USD$1.58.

10) Personal Care: Cost is low for items such as cosmetics, hair care, and toiletries. A basket costing USD$500 in New York costs USD$210. Average cost for a mens haircut and blow dry is USD$17, while a womens hair colour, cut and blow dry - medium length is USD$83.

11) Recreation & Culture: Cost is very low for items such as books, cinema, sport and theatre tickets. A basket costing USD$500 in New York costs USD$235. Average price for a latest release international cinema ticket (average of on and off peak where applicable) for one adult is USD$4.56, and an international fitness, recreation or sports club membership cost for one adult is USD$29 per month.

12) Restaurants Meals Out and Hotels: Cost is very low for items such as hotel daily room rates, meals and beverages in a restaurant, and take away food and beverages. A basket costing USD$1,000 in New York costs USD$300. Average cappuccino price (regular, medium) is USD$1.47, coke/pepsi (330ml) USD$0.85, burger meal (international franchise or similar) USD$5.58, and a mid-range international restaurant meal for 2 USD$24.54.

13) Transport: Cost is very low for items such as fuel (petrol/gasoline), car hire, public transport, vehicle purchase and maintenance. A basket costing USD$1,000 in New York costs USD$410. Average average price over the last year for highest available octane petrol / gasoline (1L) is USD$0.68, while the benchmark car sedan purchase price including taxes/duties for a compact / small / economy vehicle (1.4 L) is USD$16,180.


How does the cost of living in Colombia compare?

Colombia is -50.1% cheaper than USA for groceries, -61% cheaper for household costs than UK, and -9.4% cheaper for transport costs than India.


What is the quality of life / hardship in Colombia?

Colombia is ranked as a high degree of hardship location.The hardship premium for Colombia for an expat from Australia, is for example 20%, i.e. host location (Colombia) premium of 30% minus home (Australia) location premium of 10%.



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