1703953562
12/28/2023
The cost of living in Colombia has increased over the years. In November, the country’s annual inflation rate was 10.15%, one of the highest levels of the target in Latin America and OECD countries.
However, according to a ranking published by Numbeo, Colombia is one of the countries with the cheapest cost of living.
It should be borne in mind that the ranking presented by the platform includes the prices of consumer goods such as food, but also includes expenses in restaurants, transport and other services, but excludes rental costs.
It is worth remembering that in another ranking of cities in the world where it is most expensive to rent a studio apartment in the center, Bogotá ranked 285th in the world, with rental values close to $412.
Pakistan is listed as the country in the world where the cost of living is significantly cheaper, not including rental costs. Complementing Numbeo’s information with data from the Expatistan platform, it is estimated that the cost of living for a single person in this country is $652.
The second country following on the list is Egypt. The monthly cost of living a good quality of life is $1,001. When comparing with the two reports.
Third place in the ranking goes to India, which is also considered one of the countries with the lowest cost of living in Asia and, including rental costs, is considered one of the most economical countries in the world.
To get an idea. A dozen eggs can cost $1 in this country. In Colombia, the same amount of eggs can cost $2.5.
Colombia appears in the rankings as one of the cheapest countries in the world and the cheapest when excluding rent, supporting the idea that the country is among the countries that pay the most expensive rents.
A study ensures that on average an income of about $637.6 or $2,350,000 is required to become independent in the country.
However, in this case the cost of rent is included, which for a single person near the center of the Colombian capital can reach $412, or 64% of what is required on average to achieve independence in the country.
Using these calculations, the person would have $225 per month, or $7.2 per day.
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