The countriesin general, They are distinguished between them by specific factors such as the system of government, the flag, its population, language, and of course, its economy..
This last aspect is, perhaps, one of the most measured by different international organizations to give a verdict on the economic behavior of each nation. However, the economy of each country, even though it is measured in GDP, inflation, HDI or debt, is constituted in different ways.
(Also: Rent and other basic expenses maintain risk against inflation).
Latin America has not been an exception, since this has been an interesting region for analysts given its economic growth potentialwhich is convergent to situations such as corruption, inequality or unemployment.
Cost of living
Evidently, one way in which conclusions have been drawn about Latin American economic behavior has to do with the cost of living, which is sharply skyrocketing, according to the most recent Cost of Living Index by Country 2024 by Numbeo.
(We recommend: Money transfers from Colombians abroad to the country grew 10% in the first quarter).
The criteria that were taken into account to make this measurement are: cost of essential goods, such as food or household services, as well as transportation or entertainment. This indicator does not take into account housing prices in each country.
Cost of living
With this in mind, these are the countries where it is most expensive to live this year, according to Numbeo.
1. Puerto Rico: 64.44
2. Uruguay: 55.34
3. Costa Rica: 53.62
4. Panama: 47.37
5. Guyana: 46.22
6. Cuba: 45.61
7. Mexico: 43.76
8. El Salvador: 41.15
9. Chile: 39.87
10. Venezuela: 39.39
In the case of Colombia, the country appears in 17th place in the American zone Latin. At the level of all of America it is in position 28 and in South America it occupies box 8. Its index is 30.6.
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