Colombia is one of our favorite places in the world.
And it’s quietly becoming one of the world’s top overseas havens…
When we began talking about this country over a decade ago, people thought we were crazy, but Colombia has become almost mainstream since then. That doesn’t mean it isn’t still a great and affordable option for a dream life overseas, though.
From seaside, Caribbean Cartagena and Santa Marta… to colonial Bogotá… to friendly city of eternal springtime Medellín… to Cali, the capital of salsa dancing… this country has so much to offer the traveler, expat, or worker.
Plus, it’s got some of the best health care in the region, and has even become a destination for medical tourism thanks to its stellar reputation.
Adding to the bargain lifestyle you’ll find here, the U.S. dollar’s strength against the peso has provided big returns for investors over the past decade.
As always, if there’s anything you’d like to see covered here, please don’t hesitate to get in touch with me—whether it’s questions you’d like answered or topics you’d like to see us address in detail. Write to me here.
Happy trails,
Kat Kalashian,
Editor LIOS Confidential
Video Transcript
Intro
Hi, I’m Kat Kalashian for Live and Invest Overseas, and today we’re looking at why Colombia is a top choice for moving or retiring overseas.
Overview of Colombia
Excellent infrastructure, strong investor rates, appreciating property markets, the biggest salsa festival in the world, plus important theater and poetry festivals.
The biggest flower festival in the region, which takes place every August.
The second biggest Latin American carnival after Rio.
The world’s most colorful river and more species of butterfly than anywhere else on Earth.
This is all Colombia.
Which is also South America’s oldest democracy and one of the three happiest countries in the world.
And everyone I know who has spent time in this country agrees the focus is family and friends, and Colombians really have their priorities in order when it comes to enjoying life.
Is Colombia Safe?
Today, Colombia is experiencing a rebirth from its violent past.
Still, we get questions and shocked readers telling us, “You must be out of your mind. Why would you recommend Colombia? Colombia is a crazy place to recommend for living or retiring overseas.”
But it is now much, much safer than it used to be, and you can enjoy a lifestyle here in this bustling and thriving country without fear.
Why Colombia Is an Overseas Haven
It is quietly becoming one of the world’s top overseas havens.
From its seaside havens on the Caribbean — Cartagena and Santa Marta, for example — to its colonial city, Bogotá, to the friendly city of eternal springtime, Medellín.
In this corner of the world, Colombia is shedding the stigma that has lingered since Pablo Escobar’s death over 30 years ago. These days, Colombia is a solid and stable democracy.
It’s one of the oldest in the Western Hemisphere. This is a country on the move with a strong economic footing, showing impressive growth year after year, boasting a powerful industrial base, and enjoying an energy surplus thanks to its abundant natural resources.
As South America’s best-kept secret, there’s a lot you might have missed about Colombia. It’s no longer the land of drugs, gangs, and Pablo Escobar. Those days are long gone.
Luckily, though, for the savvy investor or retiree, that lingering reputation has kept prices quite low across the country — despite being one of the most progressive countries in the region and in the world today.
What’s more, the strong U.S. dollar has resulted in a very steep currency discount, making the cost of living and property in Colombia more affordable than they’ve been in decades.
Why Retiring in Colombia Is a Great Option
This is the world’s number one best bargain retirement haven.
If you’re looking for an affordable place where the living is easy — with year-round spring weather in the highlands or beautiful beach living on the Caribbean coast — Spanish colonial cities in the lowlands, nearly 2,000 miles of Pacific or Caribbean coastline to choose from, plus rainforests, mountains, and hidden ancient cities in the jungle.
As well as the best hospitals in the region, bargain real estate, friendly people, opera, ballet, fine art museums, famous nightlife, fine dining, and more.
Colombia’s Success Story
Colombia’s success story is nothing short of remarkable.
It’s taken a couple of decades, but Colombia has reinvented itself into one of the most pleasant and affordable places to spend time in the world.
Pre-COVID, Colombia was breaking tourism records, with annual growth figures of 10 to 20% per year.
Plus, it boasts some of the best health care in the region.
Health Care in Colombia
Medical tourism has increased by 65% over the past decade, and the country is ranked 22nd globally for the quality of its health care. By the way, the U.S. ranks 37th.
Eight of the top 35 hospitals in Latin America are in Medellín, and other cities in Colombia have similarly top-standard facilities.
The Pros of Living in Colombia
Some of the pros of living in Colombia:
This is a top investment haven with enormous economic upside.
It has some of the best health care in Latin America at a cost that can be up to 90% less than U.S. costs for comparable care.
It has a strong economy, welcoming locals, and first-world — even luxury — lifestyle options.
Colombia is working hard to compete for foreign attention. They want foreigners living here and are incentivizing people to move.
It’s one of the easiest and cheapest residency options in the world today.
The pensioner option requires only about $1,000 per month at today’s exchange rate, and you can process the application yourself — you don’t even need a lawyer.
There are many lifestyles on offer here, including sophisticated Euro-chic city living, Caribbean beach life, world-class colonial cities, rural landscapes, and the “finca” lifestyle — ranch or farmland living.
And this is South America rather than Central America. There is a difference in terms of development. Central America can sometimes feel less developed, while South America often feels more European in its cities and has a longer history of development.
The Cons of Living in Colombia
Some of the cons of living here:
It will be necessary to learn some Spanish.
Although increasingly people speak English in Colombia, if you want to integrate fully and enjoy your life here, you’ll need Spanish. Especially outside the major cities, you’ll need it day to day.
There is less expat infrastructure than in some other countries, such as Mexico or Panama.
But increasingly, expats are finding Colombia to be more mainstream. In bigger cities, you will find English-speaking communities.
This is not a low-tax jurisdiction.
And air pollution in Medellín and Bogotá has made headlines and can be bad from time to time throughout the year.
