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2023 Updated Price List on the Cost of Living in Colombia

2023 Updated Price List on the Cost of Living in Colombia

If you’re considering a move to Colombia, SC, you’ll want to make sure your budget is ready for the cost of living here. Colombia has a high cost of living due to its excellent schools, top-notch health care, and thriving economy. In this article, we’ll take a look at the average costs of various things you might need while living in Colombia, from feeding to transportation.

History of Colombia

Colombia is a small city located in the state of Missouri. The city was founded in 1795 and became a part of the United States in 1821. Colombia is home to two universities, the University of Missouri and Saint Louis University. The city is bordered by Jefferson City to the north, Springfield to the east, Cape Girardeau to the south, and Grandview to the west.

The Osage Indians, who migrated from what is now Oklahoma, were Colombia’s first settlers. The Osage built a trading post on the banks of the Missouri River and conducted trade with the Spanish for horses and other items. Colombia was established in 1795 by Colonel George Rogers Clark as a base of operations for his campaign against the Osage Nation. Colombia’s population expanded quickly as a result of its advantageous location on the frontier and its accessibility to transportation infrastructure like highways and waterways.

Colombia was acquired by the United States in 1821 as part of the Louisiana Purchase from France. Around 2,000 people called Colombia home at this period. Due to its location on significant transit lines and the growth of Colombia as a hub for trade and business, the city gradually started to grow in importance.

Benefits of Living in Colombia

  • High Quality of Life:

Colombia boasts a good standard of living and offers a wide range of leisure and cultural possibilities. Richland County Museum and the University of South Carolina, two renowned institutions, are located in the city. Residents have access to a wide range of activities, including golfing, riding, and hiking.

  • Low Cost of Living:

Colombia is one of the most affordable cities in the United States. Food, housing, utilities, and other expenses all tend to be lower here than in many other major metropolitan areas. This makes it possible for families to live comfortably on modest incomes.

  • Strong Economy:

Colombia’s economy is robust, with stable job growth and low unemployment rates. Since there has been consistent population growth over the past few years, it is now simpler for locals to locate cheap housing and employment that suits their interests and skills.

  • Beautiful Natural Environment:

With its stunning canals and lush forests, Colombia is situated in one of the most scenic regions of the US. There are many chances for recreation and relaxation in this natural setting for the locals.

Colombia’s Gross Domestic Product

The projected value of Colombia’s GDP in 2023 is $113.8 billion. This is an increase of 2.5% over the $112.1 billion GDP for 2018. Services (27.6% of GDP in Colombia in 2023), manufacturing (17.2%), and construction (10%) will be the three largest contributors.

Compared to other major American cities, Colombia has a lower cost of living than the average. Numbeo’s 2018 ranking of the cost of living index for Colombia placed it at number 32 out of 100 US cities. This shows that even if prices may be greater than in certain other places, most people can still afford them.

Different Costs of Living in Colombia

  • Cost of Feeding

In Colombia, the cost of food is a significant expense for many people. The prices of groceries can be high, and the cost of meat and dairy products is particularly high. In addition to the price of food, Colombia also has a high cost of living overall. This means that even with a steady income, people will have to budget carefully to cover all their costs.

Shopping at discount supermarkets is one strategy to reduce the cost of groceries. These shops typically provide a greater selection of goods and frequently charge less than typical supermarkets. Cooking at home more frequently is another method to save money on food. Since you can choose the items that go into your meals, this might not only save you money on groceries but also make you healthier.

  • Cost of Accommodation

If you wish to live on a tight budget while visiting Colombia, you should think about renting an apartment or a home. Depending on the region and the time of year, rental costs can vary, although they are typically not prohibitive.

In the heart of the city, a two-bedroom apartment may be had for as little as $200 per month. You should budget about $350 per month for equivalent space outside the center. Additionally, rental costs drastically decline outside of large cities, occasionally even falling below $100 per month.

Apartments and homes for rent can be found online or through word-of-mouth networks if your trip budget is limited. It normally doesn’t take much work to book one of these lodgings; just make sure the place is secure and well-kept.

  • Cost of Healthcare

The cost of healthcare in Colombia is high, but there are ways to reduce it. All individuals in Colombia have access to healthcare thanks to the country’s universal healthcare system. Prior to traveling to Colombia, it is crucial to examine pricing for medical services and medications because the government sets these costs.

In Colombia, a hospital stay typically costs USD 2,000. The cost of this item includes staff and patient care. Additionally, Colombian drug prices can be high. Generic medication might cost up to $200 for a 60-day supply.

Another expense associated with healthcare in Colombia is travel expenses. Patients may need to visit multiple hospitals or clinics while they are in the country. This can increase expenses significantly.

  • Cost of Transportation

Using a car to get around Columbia is the most expensive option. Parking expenses can be high, and gas and fees can add significantly to the cost of driving. Additionally, the cost of car ownership can be high, particularly if you have to pay for repairs and maintenance.

Taking public transit is one way to save money on transportation. There are numerous bus routes that travel across Columbia, as well as a number of C-TRAN buses that connect Columbia with other cities. Buses are a more affordable alternative to taxis and are useful for moving about town during rush hour.

2023 Updated Price List on the Cost of Living in Colombia

Conclusion:

Colombian living can be pricey, but it’s worth it for the stunning countryside and vibrant culture. Colombians will have a joy living here because there are so many opportunities to explore and try new things. Colombia is a considering if you’re willing to put up with some significant expenses despite the high cost of living.

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