The economy of Colombia is that of a free market economy with major commercial and investment ties to the United Nations. Transition from a highly regulated economy has been underway for more than a decade.
Bogota is the capital city of Colombia. Bogota is Colombia's largest economic center and most companies in Colombia have their headquarters in the city. Bogota is also a major center for the import and export of goods for Colombia and the Andean Community in Latin America.
Bogota has an overall cost of living index which equates it with high cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.
The latest cost of living rank for each of the 13 Basket Groups is now available.