Cost of Living in Colombia

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The low cost of living in Colombia is a major draw for expats considering moving to the region. The lack of income tax and the availability of first-world amenities make this South American gem a great pick if you’re looking for a high quality of life without many major expenses.

Colombia's smaller towns or rural areas are less expensive than major cities such as Bogotá and Medellín. Services and locally produced goods are affordable, while imported goods are pricier.

Expats are generally in a good position to enjoy a luxurious lifestyle in Colombia, especially if earning a foreign currency. On the other hand, pinching pennies when necessary is also possible.

Cost of accommodation in Colombia

The cost of accommodation is likely to be your highest monthly expense in Colombia, and prices have been escalating in recent years. That said, rent is still largely affordable for most expats, particularly those earning in a foreign currency.

Most expats settle in houses or apartments in neighbourhoods in Bogotá and Medellín. House- or flatshares are good options for those on a budget.

Renting Expat Accommodation in Colombia

Cost of transport in Colombia

The cost of travel in Colombia is on par with other South American countries. Within the cities and smaller towns, taxis, motorcycle taxis, and buses are ubiquitous and cheap. Regional buses and domestic flights are also reasonable.

If you choose to purchase a car, you may need to hire a driver, as driving standards in the country are poor. Mandatory liability insurance also adds to the cost of car ownership in Colombia.

Getting Around in Colombia

Cost of groceries in Colombia

Groceries are likely to be one of your more considerable expenses each month. Several everyday products need to be imported into Colombia and are thus relatively expensive. Shopping at one of the large grocery store chains, such as Éxito or Jumbo, allows for a better selection but at a higher cost. On the other hand, buying local products and shopping at local markets, butchers, and street stalls will substantially reduce the cost of food.

Cost of entertainment and eating out in Colombia

The cost of eating out will vary greatly depending on the area and type of cuisine you opt for. Most cities and towns offer a variety of restaurants to suit any budget. The cost of eating out and drinking out in Western-style bars and restaurants can be moderate to high.

In Colombia, lunch is the primary meal of the day. Local neighbourhood restaurants typically serve a set menu (menú del día) for a low price, including a bowl of soup, a chicken or meat dish served with rice and salad or plantains, and a cup of fresh juice.

Cost of education in Colombia

The cost of education in Colombia can be high, especially at private and international schools. Public schooling is free, but tuition will be in Spanish and may not meet international standards.

Most private educational institutions are either bilingual, teaching both English and Spanish, or international, with a foreign curriculum. As tends to be the case worldwide, fees for the top international schools are high in return for a world-class education.

Education and Schools in Colombia

Cost of healthcare in Colombia

Although the public healthcare system in Colombia is generally well regarded, you may decide to opt for private healthcare, which is reasonably priced and offers high-quality care. This level of affordability and quality has led to Colombia becoming a medical tourism destination.

All Colombian residents are required to take out insurance with one of two national health schemes, depending on income. Additional private medical insurance is also available to increase your coverage for specialist care or long-term illnesses.

Healthcare in Colombia