How much does a Colombian make a month?

The average salary in Colombia is about 4,690,000 COP (Colombian Peso) per month. As per the latest exchange rate in August 2021, this roughly amounts to USD 1,200. That’s significantly less than the highest average salary figures in most other countries.

How much money does Colombia make a year?

Economy of Colombia

Statistics
GDP $327.895 billion (nominal, 2019 est.) $785.836 billion (PPP, 2019)
GDP rank 38th (nominal, 2019) 31st (PPP, 2020)
GDP growth 2.5% (2018) 3.3% (2019e) −4.9% (2020f) 3.6% (2021f)
GDP per capita $6,508 (nominal, 2019 est.) $15,541 (PPP, 2019 est.)

What salary is considered rich 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. Colombia’s richest have fortunes representing 4.6 times the state’s annual investment in education and equivalent to 22% of GDP according to Oxfam.

What is the average hourly wage in Colombia?

The average salary for jobs in Colombia is $ 28.791. 503 (COP) per year or an hourly rate of $ 13.842 (COP).

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What is a good salary in Medellin?

The average salary for jobs in Medellin, Colombia is $ 28.718. 726 (COP) per year or an hourly rate of $ 13.807 (COP). The above data is a sample of data available in ERI’s Global Salary Calculator.

Is Medellin a poor city?

Smart-city-related efforts have helped rocket Medellín from its grim situation in the early 1990s to its current status as a city with some of the lowest rates of poverty and crime—and highest rates of education and health care access—in South America.

What is the average salary in Colombia in dollars?

A person employed as a worker in Colombia earns an average salary of 1604 USD per month. This salary includes transport, housing, and other benefits received.

What is a middle class income in Colombia?

In Colombia the numbers are different. A household can be considered middle class if it earns between US$300 and US$850 per month, which is US$10 and US$29 per day. Any household earning anything more that this is considered high class and will be located on the top 10% of the richest in Colombia.

Can you be rich 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. Colombia’s richest have fortunes representing 4.6 times the state’s annual investment in education and equivalent to 22% of GDP according to Oxfam.

How much money do you need to live comfortably in Colombia?

Fortunately, Colombia offers retirees an affordable yet comfortable way of life. According to Numbeo, a website that collects pricing data from citizens, you’ll need to budget (excluding rent, but including food, utilities, transportation, and recreation) around $250 per month for living costs.

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What is minimum wage in Colombia per hour?

Colombia: Monthly Minimum Wage and Transportation Aid for 2021 fixed by Colombian government

CONCEPT COP$ VALUE USD$ VALUE (ER: 3500)
Monthly Minimum Wage (MMW) $908.526 $260
Transportation Aid / Connectivity Aid (TA) $106.454 $30
MMW + TA $1.014.980 $290
Daily Minimum Wage (8 hours) $30.284 $8.65

How much money do I need to live in Colombia?

What’s 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.