Colombia, the Cheapest Place to Live in the World in 2025

Colombia was recently named the cheapest place to live in the world in 2025 by International Living magazine. Colombia tops a list of five countries known for their unmatched quality-of-life value, ahead of Southeast Asian nations such as Thailand, Vietnam, Malaysia, and Indonesia.

In recent years, Colombia has emerged as a hub for expats, retirees, and remote workers seeking an improved quality of life compared to North America and Europe while keeping costs low.

Colombia, the cheapest place in the world to live in 2025

In their ranking, International Living highlights Colombia as the most affordable place to live in 2025, emphasizing its exceptional cost-of-living benefits paired with a high quality of life. The report notes that expats in Colombia can comfortably live on a monthly budget of $1,000 to $2,000, particularly in mid-sized cities like Pereira, Manizales, Bucaramanga, and Santa Marta. These cities offer a balance of comfort and affordability, making them attractive alternatives to larger urban centers like Bogota or Medellin.

International Living underscores Colombia’s affordable utility costs, with monthly bills averaging $75 in upper-middle-class neighborhoods. Groceries are similarly budget-friendly, with fresh produce, organic milk, and essential items costing significantly less than in many other countries.

The ranking also highlights Colombia’s efficient and cost-effective transportation system. Public transit in cities like Manizales, including buses and cable cars, eliminates the need for car ownership. For longer journeys, private drivers are readily available at rates as low as $5 per hour.

Colombia’s healthcare system receives special mention for its combination of high-quality services and affordability. Monthly insurance premiums are typically under $50, while routine doctor visits and dental procedures remain cost-effective. Wellness services, such as massages and spa treatments, are also attractively priced.

Dining out is another standout aspect. A hearty “almuerzo ejecutivo” with multiple courses costs just between $2-5, while gourmet meals at high-end restaurants in cities like Manizales or Pereira are available for under $20, thanks to the abundance of fresh, local ingredients.

The Land of Beauty among Forbes’ most affordable places to live in 2025

Colombia was also highlighted in Forbes’ Most Affordable Places to Live list, where it stands out as a destination where incredible affordability meets comfort and a rich cultural experience. Forbes specially recommends Medellin, for its pleasant climate and cosmopolitan atmosphere, Pereira and Manizales, for their tranquility and stunning landscapes, as well as Cartagena for its vibrant coastal lifestyle with beachside charm.

The report emphasizes Colombia’s cost-effectiveness, with monthly expenses for a couple starting at $1,500. In Medellin, two-bedroom apartments in desirable neighborhoods rent for as little as $800 per month, while in smaller cities like Pereira, prices drop to $500 or less. Utilities, including water, electricity, and internet, average $100 monthly, and dining out is remarkably affordable. Lunch specials cost just $4, while high-end dining experiences are available for $20. Healthcare remains a standout, with doctor visits averaging $30.