Cost of Living in Venezuela (2024)

FAQs

How is the cost of living in Venezuela? ›

A family of four estimated monthly costs are 2,181.5$ without rent. A single person estimated monthly costs are 592.6$ without rent. Cost of living in Venezuela is, on average, 43.8% lower than in United States. Rent in Venezuela is, on average, 86.3% lower than in United States.

Cost of living in Venezuela is 49% cheaper than in United States.

100 US Dollar is 2785.707 Venezuelan Bolívar Soberano.

1 USD = 28.129613 VES Jul 06, 2023 13:22 UTC.

Caracas Gasoline prices, litre, 19-Jun-2023

The average value for Caracas during that period was 0.10 Venezuelan Bolivar with a minimum of 0.10 Venezuelan Bolivar on 13-Mar-2023 and a maximum of 0.10 Venezuelan Bolivar on 13-Mar-2023.

In the capital city of Venezuela, a gallon of potable water costs a little less than one dollar, or roughly twice as much as a gallon of gasoline.

How much is the average salary in Venezuela? ›

According to the OVF (Venezuelan Finance Observatory) in a recent survey of more than three hundred companies, the average salary for workers is $53. Among professionals and technicians, the average is around $100 and that of the management of a company averages $216.

Residency. In order to gain permanent residence status in Venezuela, applicants must already have been legally and continuously residing there for a period of at least 10 years. They must also pass a citizenship test, and they may need to meet other requirements, such as have proof of adequate financial funds.

What is the cost of living in Venezuela? The cost of living for expatriates in Venezuela as at July 2023 is very low in comparison to other places in the world, with an overall Cost of Living Index (COLI), for all 13 basket groups, of 28.67 (New York =100).

What is the average cost of lunch in Venezuela? In Venezuela, a typical fast food meal costs: 10.00 USD for a McMeal at McDonalds or BurgerKing (or similar combo meal), and 3.00 USD for a cheeseburger.

Most people use card payments, local bank transfers (“hay punto”) and US dollars instead. Debit or credit card transactions may take longer to go through than expected, or require several attempts. Guard your PIN number and consider a well-recognised pre-payment card to protect you from fraud and theft.

Current value of 10000 USD in VEF is 1,001.30 VEF.

According to experts, Venezuela's economy began to experience hyperinflation during the first year of Nicolás Maduro's presidency. Potential causes of the hyperinflation include heavy money-printing and deficit spending.

A cup of coffee in Venezuela's capital Caracas now costs one million bolivars, equivalent to almost one-fifth of the monthly minimum wage. Owing to the country's hyperinflation, one million Venezuelan bolivars, when converted into US dollars, comes to 29 cents (₹20).

A bottle of milk in the South American country costs a whopping 84,000 bolivars. The state of affairs in Venezuela can be gauged from people carrying a several sacks full of currency notes to buy the month's ration.

How much is a 2 liter co*ke in Venezuela? ›

This average is based on 27 price points. It can be considered reliable and accurate. Latest update: July 01, 2023.

How much is 20 US Dollar in Venezuelan Bolívar Fuerte? 20 US Dollar is 5107340 Venezuelan Bolívar Fuerte.

1000000 Venezuelan Bolívar Soberano is 36102.17 US Dollar.

So, you've converted 1000000 Venezuelan Bolívar Soberano to 36102.17 US Dollar.

How much is 50 US Dollar in Venezuelan Bolívar Fuerte? 50 US Dollar is 12938732 Venezuelan Bolívar Fuerte.

The average salary for a Nurse is Bs. F. 150,000 in Caracas, Venezuela.

Can I buy property in Venezuela as a foreigner? Foreign nationals with valid passports are welcome to buy property in Venezuela, whether for retirement, holiday, or work-related purposes. Property can also be acquired indirectly, so foreigners may buy through foreign or local companies.

As a result, smartphone prices have risen even faster than the cost of food and basic necessities. A brand new iPhone 6 on a local Venezuelan e-commerce site costs about 300,000 bolivars—or about $47,250, according to the official exchange rate—while a less sophisticated Samsung model might cost about $3,000.

How much is 25 US Dollar in Venezuelan Bolívar Fuerte? 25 US Dollar is 6432795 Venezuelan Bolívar Fuerte.

An average monthly salary in Venezuela is only around 175$, which – to us is staggeringly low, but for them is just natural at this point. If you're renting – then paying all your bills and buying necessities is a bit more difficult.

Travel to Venezuela is permitted for tourists and for business by visitors with Venezuela visas. Venezuela is reachable from the United States for a period of 12 months after you receive the visa. A visitor may stay for a maximum of three months during a single trip.

Is gas expensive in Venezuela? ›

Since the arrival of the pandemic in the country in 2020, gasoline prices were officially divided into two: subsidized and international, but which still remains among the cheapest in the world.

200 US Dollar is 5504.857 Venezuelan Bolívar Soberano.

Venezuelan gasoline officially remains by far the cheapest in the world, still priced by the government after years of hyperinflation at a rate equivalent to 0.00000002 cents per gallon.

According to the latest Big Mac index, the most expensive Big Mac can be found in Switzerland, where it costs $6.71. In comparison, the cheapest Big Mac can be found in Venezuela, where it costs only $1.76.

The country is home to a variety of climates, from the Caribbean coast to the Andes Mountains, providing retirees with a range of activities to enjoy. The cost of living is also relatively low, making it an attractive option for those looking to stretch their retirement savings.

Approximately 23,000 U.S. citizens living in Venezuela have registered with the U.S. embassy, an estimated three-quarters of them residing in the Caracas area. An estimated 12,000 U.S. tourists visit Venezuela annually. About 500 U.S. companies are represented in the country.

Commonalities include domestic political crises, weakening economies, Covid-19, natural disasters, and strict U.S.-led economic sanctions. Facing precarious conditions and the threat of political persecution, a growing number of people from these nations have opted to seek safety in the United States.

In a Nutshell

Green card holders and U.S. citizens are at liberty to marry non-U.S. citizens. Their foreign spouses can get a marriage green card and live with them in the United States. The application process looks different depending on where you and your future spouse live and your respective immigration statuses.

How much is 100000 Venezuelan Bolívar Fuerte in US Dollar? 100000 Venezuelan Bolívar Fuerte is 0.397338 US Dollar.

1. Iranian Rial (IRR) The Iranian rial is the weakest currency in the world, with 1 rial buying a mere 0.000024 dollar (or, put another way, $1 equals 42,300 Iranian rials).

How much is 2 dollar in venezuela? ›

How much is 2 US Dollar in Venezuelan Bolívar Fuerte? 2 US Dollar is 514330 Venezuelan Bolívar Fuerte.

French fries, a common food, affordable in most parts of the world and generally very popular, have become a luxury for many in Venezuela.

McDonald's is bringing back its French fries to Venezuela after a 10-month absence. And no thanks to the country's skyrocketing inflation rates, a large order of fries costs around $126.

While customers love the hog dogs, they cost $5-$6 each — too expensive for most Venezuelans. At hotdog stands, they're about 58 cents. With minimum wage in Venezuela $5 a month, even eating a street-stand hotdog has become a luxury for many.

According to the OVF (Venezuelan Finance Observatory) in a recent survey of more than three hundred companies, the average salary for workers is $53. Among professionals and technicians, the average is around $100 and that of the management of a company averages $216.

Venezuela's minimum monthly income is 130 bolivars ($5.40), a pitiful amount that continues to erode due to the nation's rampant inflation. It is by far the lowest minimum income in Latin America, much below the $100 monthly income in Haiti and Cuba. The United Nations threshold for extreme poverty is $57 per month.

What is the cost of living in Venezuela? The cost of living for expatriates in Venezuela as at April 2023 is very low in comparison to other places in the world, with an overall Cost of Living Index (COLI), for all 13 basket groups, of 29.14 (New York =100).

Latest data on Minimum Wages (VEF/Month)

Minimum Wages in Venezuela remained unchanged at 13000000 VEF/Month (13000000 USD/Month) in January 2023. The maximum rate of minimum wage for employees was 5196000 VEF/Month and minimum was 4 VEF/Month. Data published Monthly by Central Bank.

Do not travel to Venezuela due to crime, civil unrest, kidnapping, and the arbitrary enforcement of local laws. Reconsider travel due to wrongful detentions, terrorism, and poor health infrastructure.

Can a U.S. citizen buy a house in Venezuela? ›

Can I buy property in Venezuela as a foreigner? Foreign nationals with valid passports are welcome to buy property in Venezuela, whether for retirement, holiday, or work-related purposes. Property can also be acquired indirectly, so foreigners may buy through foreign or local companies.

Travel to Venezuela is permitted for tourists and for business by visitors with Venezuela visas. Venezuela is reachable from the United States for a period of 12 months after you receive the visa. A visitor may stay for a maximum of three months during a single trip.

How much is a house in Venezuela in us dollars? The average could be between $9.000-and $80.000.

Venezuela is home to the world's most affordable Big Mac: at just $1.76 per sandwich, it is a fraction of the cost of what most other countries pay for the famous fast-food item, and means that Venezuela's Big Mac Index is at -65.77% of the Big Mac Index of the US.