Medellin is the new expat hot spot and this is why
Medellin is the new expat hot spot and this is why.
Medellin has amazing weather year round. The average temperature for January is a high of 82 degrees per month. And a low of 62 degrees per month. However, thunderstorms are common during this time of year. But, humidity is only 68%.
The weather in Colombia is overall great. But unlike the high humidity in Cartagena and the cold of Bogota. Medellin is perfectly in the middle.
One of the best options for working in Medellin is to receive a work transfer from your home country. However, those opportunities are limited.
Another option is to start your own business. Starting your own business will require capital and expertise. However, the entry barrier for most businesses is lower in Colombia.
Other things to consider. Minimum wage in Colombia is 781.242 cop, approximately $273 usd. That number might seem impossible to live on. However, many Colombians find a way to live off of that salary. If you’re able to adapt to a completely new way of living maybe you can as well.
The minimum salary is also important for another reason. More important actually. The minimum salary is in line with the rest of the salaries in Colombia. High salary earners in Colombia the 1% make above 10.000.000 cop per month. Approximately $3500 usd per month.
Cost of living
The cost of living is Medellin is lower than most cities in Colombia. Furthermore, Medellin is possibly one of the most affordable cities in all of Latin America. When you exclude small towns (pueblos).
Housing is very affordable
A high end – 3 bedroom, 3 bath apartment in the best Medellin neighborhood. Will cost you $800 usd per month. Furthermore, your condo will include a pool, a steam room, a gym, a playground and other amenities.
A mid range – 3 bedroom, 3 bath apartment in a good. But not great neighborhood. Will cost you $350 usd per month. However, minus the above amenities, closer to less than safe neighborhoods. And streets not as well maintained as the best neighborhoods.
Health insurance for all
As a full-time employee you are guaranteed health insurance. However, the better private insurance plans only cost $40 usd per person. Before purchasing the private insurance you will need to register for the public insurance plan.
Eat out for cheap
Restaurants are still very affordable in Medellin. High end restaurants will cost you more. However, the top restaurants most expensive plate is on average $15 usd. Top pasta restaurants sell plates in the $6-$8 usd range.
Another reason why Medellin is the new expat hot spot is the accessibility from other countries and cities.
Avianca has 1 daily direct flight to New York City. And multiple daily direct flights to Miami.
My favorite US airline Jetblue has one daily direct flight to Fort Lauderdale.
Another great airline is Copa. Copa offers flights to almost all major cities in Latin America and North America. However, all flights connect in Panama.
In conclusion, Medellin is the new expat hot spot for the foreseeable future. Some countries in Asia are a lot cheaper. But the distance, makes it a challenge. However, Medellin is only a quick 3 hour flight away from Miami/Fort Lauderdale. And only 5 hours to New York City. 7 hours (connecting in Panama) to Los Angeles.