The Value of Colones vs the US Dollar

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The standard of living in Costa Rica, relative to what it costs in American dollars, is not just the best to be had in Latin America -- it's also some of the best to be had on the entire planet. Colones, the Costa Rican currency, have long been favorable when exchanged with the U.S. dollar, and this favorable relationship for Americans visiting Costa Rica or relocating to Costa Rica will continue to benefit Americans for the indefinite future.

For starters, did you know that an American making $2,000 USD per month would be in the upper income brackets in Costa Rica? With roughly 10,000 colones equaling $20 USD, your American dollars can stretch much further than they ever could back home, even in the least expensive parts of the United States. This is a main reason why so many Americans are excited by the prospect of relocating to Costa Rica, and why thousands have already begun moving to Costa Rica.

Always wish you had some household help with chores, the yardwork, and the kids? In Costa Rica, the typical wage for a household worker is a mere $1.50 USD per hour. This means you could offer a starting wage of as little as $2 USD per hour and be considered one of the more generous employers in the area, while still being confident that your employees could maintain their own comfortable standard of living.

With a couple of notable exceptions, like new vehicle purchases, everything in Costa Rica can be had for far less in colones than it could in American dollars back home. Consider luxury hotel rooms for $75 USD a night, fancy dinners out for less than $25 USD per person, and day-long eco-tours for under $50 USD a ticket. Most prices are quoted in both colones and USD; once you learn the exchange rate, pay in colones for the best deal possible.

While it's true that more Americans have already entered the Costa Rican market, don't despair that it's too late to consider investing in Costa Rica and/or relocating to Costa Rica. There is still plenty of money to be had, and plenty of colones to be spent! Buying property in Costa Rica is an especially good idea with the current exchange rate, because the amount of labor and building materials you can purchase in Costa Rican currency continues to be a tremendous bargain. Imagine a full acre of oceanfront property with a large, brand-new home, all for less than $200,000 USD. This dream is easily attainable by moving to Costa Rica -- but only if you act soon! While Costa Rica is lucky enough to have two beautiful coastlines -- one on the Atlantic Ocean, and one on the Pacific -- there is only so much coast to go around.

by David Lovendahl, Costa Vista Marketing