I recoil in horror as I do the simple mental math. My standard cleanser which I adore in the UK, is in Colombia almost three times the price. That means it’s gone from Boots standard product, to Harrods luxury. I cough. I sputter. I moan to the shop assistants. I pick an alternative.
Yes, living in Bogota is not cheap. Especially imported goods (like my French cleanser). It’s actually astounding how anyone can and is willing to pay the extortionate prices for the same product as the states or UK but at inflated costs.
You may think that moving to Bogota from London means that I get to live like a Queen off my pound sterling savings as everything here is dirt cheap. It’s definitely cheaper outside the capital, but the capital has seen a massive economic boom in recent years. It’s not as cheap as you think. In fact if you go out to eat or drink nearby in Zona Rosa or Parque 93, you can expect to pay close to European prices.
The national paper El Tiempo reported on this recent boom. A recent report by Mercer (an HR consulting firm) has revealed that for a foreigner, Bogota is now ranked 53 (out of 214 cities) in the most expensive places to live list.
It has jumped 10 places in just one year.
That means that there are 161 cheaper cities in the world to live than Bogota (for foreigners).
For foreigners, it’s cheaper to live in Los Angeles, Miami, Madrid or Barcelona than Bogota.
For them to rent an apartment, it is now cheaper to rent one in Madrid, Berlin, Buenos Aires or Mexico City.
To buy a pair of jeans, it costs $109.77 in Colombia but 84.95 in Berlin.
Blimey.
And, unfortunately there is no H&M or Primark here. There is a Zara. But I almost choke to death when converting the price here in COP to pounds. For example, the EXACT same leather jacket in Summer 2012 sale, costs £99.99 in the UK, whereas it costs $499,000 COP (£180.71) in Colombia. That’s an extra £80. Insane! Especially as national wages for locals are much lower here than in the UK. What was previously a quite reasonable clothing addiction is now a high class luxury here in Bogota.
But in some weird way, I am actually quite proud of this. Why? Because it is a sign of a stronger country that is growing and getting more and more notoriety on the global scale. The pesos is strong. It is safe to walk the streets. Colombia is slowly shredding its only association to drugs, violence and the cartel. When you think of Colombia, you may have previously thought cocaine, coffee, and that it’s spelled with a ‘u’.
Now, on the street, there’s so much construction in my neighbourhood of Chico that where stood a house one day, is bulldozed for new offices or swanky apartments the next. I have never seen so much construction in my life. All the buildings are new. It’s like a new dawn. A new era.
Swanky new buildings like this art gallery populate the El Chico neighbourhood.
New apartment buildings.
A yes, my cleanser is suddenly overpriced and unreasonable to buy, but I’d rather that than live in fear and have my country ripped apart by violence.
I guess my cleanser is another thing to add to the growing ‘things I want my parents to bring over with them’ list.
The article is really interesting. Click here to read it in full.
Gracias
I noticed that last time I was there….I bought a jumper I liked in San Andres from Benetton….when I did the maths I realisedi probably paid 20quid more than what it would cost in the UK……it IS a nice jumper though.
Actually I try to save money by buying my clothes and other items each time I travel to the US. I also buy a lot from Amazon and friends bring my items here. The problem is not the economy but the taxes and tariffs which are very high here.
17% VAT.
Zona Rosa or Parque 93 is not the normal prices for Bogota,that is where foreigners or Colombian status seekers hang-out.
“For foreigners, it’s cheaper to live in Los Angeles, Miami, Madrid or Barcelona than Bogota.”
That’s only true if there’s a minimum standard of living used to qualify “foreigners.” To compare apples to apples, living and partying in Park 93 and Zona Rosa would be the equivalent to Hollywood and Beverly Hills in LA, or South Beach in Miami. Definitely NOT cheaper.
It’s true partying in those areas is the same, or even more expensive in the States, but those aren’t the only options for going out. You’ll find much more affordable prices at bars and dance clubs in Galerias or along Septima (focus at Cl 51). And even better in Primer de Mayo, which isn’t as dangerous as you’ve heard as long as you don’t drink in the street.
Brand names are more expensive in Colombia because of prestige pricing strategies, as Kirk implied. Clothes in general, however, are much cheaper if you don’t insist on int’l brands. And of course imported creams etc. are going to be much more expensive because of freight costs and importing red tape. But there are always more affordable locally-made options.
Those reports and surveys always have to be taken with a grain of salt. This one clearly had high standards for living as a “foreigner.” On the other end of the spectrum, a survey from The Economist rated Bogota as the worst capital in the Americas – which is even more ridiculous than claiming Bogota as more expensive than LA or Miami.