TD Bank USD to COP Travel Money Compared

Currency Guide: Colombia (ISO Code: CO)

For travelers planning a 1-week mid-range stay in Colombia, a budget of approximately $700 - $1,000 USD should suffice for a comfortable experience. This budget accommodates a variety of activities while still allowing for sightseeing and exploration. Here's a brief breakdown of typical daily expenses you can expect during your stay:

• 🍽️ Meal at a local restaurant: 15,000 - 30,000 COP

• ☕ Coffee: 4,000 - 8,000 COP

• 🚍 Public transport fare: 2,000 - 3,000 COP

• 📱 Prepaid SIM card: 30,000 - 50,000 COP (sim card with initial data)

• 🏨 Budget hotel or Airbnb: 100,000 - 200,000 COP per night (for a decent place)

Overall, travelers often find Colombia to be affordable, especially compared to the United States and Australia, where similar expenses would be considerably higher, often exceeding twice the local prices. Not only does Colombia offer vibrant culture and beautiful scenery, but it also allows you to enjoy exotic locales without breaking the bank.

Expat Living in Colombia

For expats considering a move to Colombia, it's essential to budget for monthly living costs, which can range from 2,000,000 - 3,500,000 COP depending on your lifestyle. This estimate typically includes rent, utilities, groceries, and transportation. When it comes to managing your finances, utilizing local banks is a practical choice, though it's wise to be cautious about foreign transaction fees. Credit cards are widely accepted in major urban areas, but carrying cash for smaller transactions is advisable, especially in rural locales.

When it comes to sending or receiving money, services like Wise and OFX can often provide better rates than traditional banks. Local currency exchange might not offer favorable rates and could have higher fees, especially in tourist hotspots. Thus, for expats, it's generally more cost-effective to use online transfer services, which help secure better exchange rates and lower transaction costs. In summary, whether traveling or relocating, Colombia remains an enticing destination with budget-friendly options for all!