Table of Contents
Colombia’s economy in 2025 is projected to have a GDP of $419.331 billion, with an estimated inflation rate of 5.20%. The country has a population of approximately 51.8 million and uses the Colombian Peso (COP) as its currency. The average monthly income in 2025 is expected to be around 4,710,000 COP, reflecting steady economic growth over the years.
Income levels in Colombia have shown consistent growth from 2010 to 2025. In 2010, the average monthly income was 2,500,000 COP, increasing gradually with annual growth rates ranging between 2.4% and 6.0%. The highest growth was observed in the earlier years, with a peak of 6.0% in 2011, and by 2025, the income reached 4,710,000 COP with a 2.4% growth.
Living costs have also followed an upward trend, influenced by inflation and economic changes. The average cost of living in 2010 was 2,160,000 COP, rising steadily each year. In 2025, the cost of living reached 4,710,000 COP, marking an increase of 2.4% from the previous year.
Housing and food expenses constitute the largest portions of total living costs. Housing costs, accounting for 40% of expenses, increased from 864,000 COP in 2010 to 1,884,000 COP in 2025. Similarly, food costs, which make up 25% of total expenses, rose from 540,000 COP in 2010 to 1,177,500 COP in 2025. These increases reflect rising urbanization, higher demand for housing, and inflation in food prices over the years.
Let’s take an in-depth look at Colombia’s economy, income levels, and living costs from 2010 to 2025. Explore detailed insights on rent, food, and other expenses.
Country Overview
| Aspect | Details |
|---|---|
| Capital | Bogotá |
| Population (2025) | ~51.8 million |
| Currency | Colombian Peso (COP) |
| Official Language | Spanish |
| GDP (2025)⤤ | $419.331 billion |
| Inflation Rate (2024) | 5.20% |
| Average Monthly Income (2025) | ~4,710,000 COP |
Living Cost Per Month (Per Person) Breakdown (2025)
| Expense Category | Cost (COP) | Percentage (%) |
|---|---|---|
| Housing | 1,884,000 | 40% |
| Food | 1,177,500 | 25% |
| Transportation | 471,000 | 10% |
| Utilities | 282,600 | 6% |
| Healthcare | 235,500 | 5% |
| Entertainment | 235,500 | 5% |
| Miscellaneous | 423,900 | 9% |
| Total | 4,710,000 | 100% |
Income Per Month (Per Person) Table (2010-2025)
| Year | Income (COP) | Growth (%) |
|---|---|---|
| 2010 | 2,500,000 | – |
| 2011 | 2,650,000 | 6.0% |
| 2012 | 2,800,000 | 5.7% |
| 2013 | 2,950,000 | 5.4% |
| 2014 | 3,100,000 | 5.1% |
| 2015 | 3,250,000 | 4.8% |
| 2016 | 3,400,000 | 4.6% |
| 2017 | 3,550,000 | 4.4% |
| 2018 | 3,700,000 | 4.2% |
| 2019 | 3,850,000 | 4.1% |
| 2020 | 4,000,000 | 3.9% |
| 2021 | 4,150,000 | 3.8% |
| 2022 | 4,300,000 | 3.6% |
| 2023 | 4,450,000 | 3.5% |
| 2024 | 4,600,000 | 3.4% |
| 2025 | 4,710,000 | 2.4% |
Note: Percentages are based on typical expenditure distributions.
Living Cost Per Month (2010-2025) (Per Person)
| Year | Living Cost (COP) | Growth (%) |
|---|---|---|
| 2010 | 2,160,000 | – |
| 2011 | 2,290,000 | 6.0% |
| 2012 | 2,420,000 | 5.7% |
| 2013 | 2,550,000 | 5.4% |
| 2014 | 2,680,000 | 5.1% |
| 2015 | 2,810,000 | 4.8% |
| 2016 | 2,940,000 | 4.6% |
| 2017 | 3,070,000 | 4.4% |
| 2018 | 3,200,000 | 4.2% |
| 2019 | 3,330,000 | 4.1% |
| 2020 | 3,460,000 | 3.9% |
| 2021 | 3,590,000 | 3.8% |
| 2022 | 3,720,000 | 3.6% |
| 2023 | 3,850,000 | 3.5% |
| 2024 | 3,980,000 | 3.4% |
| 2025 | 4,710,000 | 2.4% |
Note: The living cost for 2025 is based on available data and projections.
Breakdown of Housing and Food Costs Per Month (2010-2025)
Based on the 2025 percentages:
- Housing (40% of Living Cost)
- Food (25% of Living Cost)
Housing Cost Per Month (2010-2025)
| Year | Housing Cost (COP) | Growth (%) |
|---|---|---|
| 2010 | 864,000 | – |
| 2011 | 916,000 | 6.0% |
| 2012 | 968,000 | 5.7% |
| 2013 | 1,020,000 | 5.4% |
| 2014 | 1,072,000 | 5.1% |
| 2015 | 1,124,000 | 4.8% |
| 2016 | 1,176,000 | 4.6% |
| 2017 | 1,228,000 | 4.4% |
| 2018 | 1,280,000 | 4.2% |
| 2019 | 1,332,000 | 4.1% |
| 2020 | 1,384,000 | 3.9% |
| 2021 | 1,436,000 | 3.8% |
Food Cost Per Month (2010-2025)
| Year | Food Cost (COP) | Growth (%) |
|---|---|---|
| 2010 | 540,000 | – |
| 2011 | 573,000 | 6.0% |
| 2012 | 605,000 | 5.7% |
| 2013 | 638,000 | 5.4% |
| 2014 | 670,000 | 5.1% |
| 2015 | 703,000 | 4.8% |
| 2016 | 735,000 | 4.6% |
| 2017 | 768,000 | 4.4% |
| 2018 | 800,000 | 4.2% |
| 2019 | 833,000 | 4.1% |
| 2020 | 865,000 | 3.9% |
| 2021 | 898,000 | 3.8% |
| 2022 | 930,000 | 3.6% |
| 2023 | 963,000 | 3.5% |
| 2024 | 995,000 | 3.4% |
| 2025 | 1,177,500 | 2.4% |
Conclusion
Colombia’s economy has experienced steady income growth alongside rising living costs. While inflation impacts affordability, wages have also seen incremental increases, helping to balance the cost of living. Housing and food remain the largest expenses, reflecting global economic trends affecting household budgets.
Sources:
World Bank – Data.worldbank.org
Numbeo – Numbeo.com
OECD (Organisation for Economic Co-operation and Development) –Oecd.org
IMF (International Monetary Fund) – imf.org
Statista – Statista.com
