Whats the average cost of living in Colombia for expatriates? Most self-funded younger foreigners or fixed-income retirees seem to live in Colombia on a budget of $1,000 to $2,500 per month, a fraction of what they were spending in their home country.

How much money do I need per day in Colombia?

I dont think you need to spend a lot of money in Colombia. On a backpackers budget, youll probably spend about 160,000 COP ($48 USD) per day. This is assuming youre staying in a hostel, eating local food, cooking some of your own meals, and using local transportation to get around.

Can I use my debit card in Colombia?

Using credit and debit cards in Colombia As with many South American countries, Visa, MasterCard, and American Express are the most commonly accepted credit cards in Colombia. If you use your card in a restaurant, youll be asked if its credito (credit) or debito (debit).

What is considered a lot of money in Colombia?

While the wealth of 71% of adults in Colombia is, on average, less than $10,000, just over 2% of adults have wealth of more than $100,000. Colombias richest have fortunes representing 4.6 times the states annual investment in education and equivalent to 22% of GDP according to Oxfam.

How do you carry money in Colombia?

If you want to carry cash, use US dollars. Incidentally, banks do not exchange foreign banknotes in Colombia. You have to go to a specialist money exchange bureau.