Cost of living comparison

Iceland

compared to

Colombia

Bogota vs. Reykjavik Cost of Living Summary

Bogota is 59.6% cheaper than Reykjavik.

Restaurants: pay 69.4% less in Bogota
Groceries: pay 48.0% less in Bogota
Transportation: pay 44.7% less in Bogota
Housing: pay 66.7% less in Bogota
Childcare: pay 64.8% less in Bogota
Entertainment and Sports: pay 70.1% less in Bogota
Clothing: pay 39.9% less in Bogota

Expenses including entertainment and sports, restaurants, housing, childcare, groceries, and transportation are lower in Bogota.

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Bogota vs. Reykjavik Cost Breakdown

If you lived in Bogota instead of Reykjavik, you would:

Display currency: USD

pay 69.4% less for restaurants

	Reykjavik	Bogota
Basic meal with drink at inexpensive restaurant	$31.06 ISK3,763	$7.72 COP24,504.06	-75.1%
Fast food combo meal McDonalds, or similar	$26.97 ISK3,268	$10.19 COP32,345.37	-62.2%
Bottle of Coca-Cola (11 fl. oz)	$3.31 ISK402	$1.34 COP4,267.92	-59.4%
Bottle of water (11 fl. oz)	$3.11 ISK376	$0.87 COP2,755.00	-72.1%
Average			-69.4%

Reykjavik vs. Bogota - Cost of restaurants

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pay 48.0% less for groceries

	Reykjavik	Bogota
Bread 1 loaf	$4.19 ISK508	$2.42 COP7,690.34	-42.2%
Local cheese (8 oz)	$10.93 ISK1,324	$3.93 COP12,460.95	-64.1%
Milk (1 gallon)	$7.78 ISK942	$6.14 COP19,479.18	-21.1%
Eggs 1 dozen	$7.08 ISK858	$3.39 COP10,767.09	-52.1%
Boneless chicken breast (1 lb)	$11.00 ISK1,333	$3.30 COP10,487.06	-70.0%
Apples (1 lb)	$1.50 ISK182	$1.56 COP4,960.76	+3.9%
Bananas (1 lb)	$1.27 ISK154	$0.81 COP2,555.68	-36.5%
Oranges (1 lb)	$1.46 ISK177	$0.87 COP2,775.49	-40.1%
Tomatoes (1 lb)	$2.93 ISK355	$0.79 COP2,499.80	-73.1%
Potatoes (1 lb)	$1.78 ISK215	$0.65 COP2,066.32	-63.3%
Onions (1 lb)	$0.76 ISK92	$0.63 COP1,985.15	-17.3%
Average			-48.0%

Reykjavik vs. Bogota - Cost of groceries

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pay 44.7% less for transportation

	Reykjavik	Bogota
Gasoline (1 gallon)	$7.76 ISK941	$4.90 COP15,551.55	-36.9%
Monthly public transit pass	$94.80 ISK11,488	$49.41 COP157K	-47.9%
New Volkswagen Golf 1.4 (standard edition)	$50,588.43 ISK6M	$23,161.08 COP74M	-54.2%
Taxi trip in downtown area (5 miles)	$29.26 ISK3,545	$20.84 COP66,160.97	-28.8%
Average			-44.7%

Reykjavik vs. Bogota - Cost of transportation

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pay 66.7% less for housing

	Reykjavik	Bogota
Internet connection 50 mbps or faster, cable/dsl	$86.01 ISK10,422	$29.75 COP94,422.33	-65.4%
1-Bedroom apartment in downtown area	$2,522.88 ISK306K	$779.14 COP2M	-69.1%
1-Bedroom apartment outside city center	$2,032.25 ISK246K	$440.22 COP1M	-78.3%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$73.44 ISK8,899	$93.36 COP296K	+27.1%
Average			-66.7%

Reykjavik vs. Bogota - Cost of housing

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pay 64.8% less for childcare

	Reykjavik	Bogota
Private preschool for 1 child, monthly	$1,185.23 ISK144K	$463.22 COP1M	-60.9%
Middle school for 1 child, two semesters	$25,853.51 ISK3M	$8,195.93 COP26M	-68.3%
Average			-64.8%

Reykjavik vs. Bogota - Cost of childcare

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pay 70.1% less for entertainment and sports

	Reykjavik	Bogota
Domestic/local beer (1 pint)	$13.89 ISK1,684	$2.01 COP6,371.06	-85.6%
Cappuccino in mid-range area	$6.74 ISK817	$2.52 COP7,993.08	-62.6%
Pack of cigarettes Marlboro or similar	$13.89 ISK1,684	$4.32 COP13,722.28	-68.9%
Monthly membership at local gym	$100.25 ISK12,148	$33.42 COP106K	-66.7%
Movie ticket to theater/cinema	$19.57 ISK2,372	$7.72 COP24,504.06	-60.6%
Average			-70.1%

Reykjavik vs. Bogota - Cost of entertainment and sports

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pay 39.9% less for clothing

	Reykjavik	Bogota
Regular jeans Levi's brand	$149.01 ISK18,058	$82.94 COP263K	-44.3%
Regular dress from H&M or similar store	$65.79 ISK7,972	$47.35 COP150K	-28.0%
Running shoes Nike or Adidas	$181.84 ISK22,035	$141.13 COP448K	-22.4%
Men's business shoes (leather)	$248.81 ISK30,151	$104.65 COP332K	-57.9%
Average			-39.9%

Reykjavik vs. Bogota - Cost of clothing

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We average the price of thousands of data points entered by users across the world. Sources: MyLifeElsewhere's cost-of-living dataset (prices updated October 2026). How we calculate this

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