I think its funny you can sum it up in one word considering the standard of your posts suggest going beyond east London and listening to music prior to 2001 is an adventure.
Regardless of whether I have been or not its like me saying.....East London.....try hard hipsters, not very accurate!?
I spent January of 2011 and 2012 in Colombia and to echo some of the more sensible posts it has a pretty big mixture of wealth and poverty. Being 100% it is a third world country and that's not being elitist as the locals admit it themselves. You have some interesting contrasts, you can buy a coca cola for less than 50p as it is produced locally however if you want to buy a Nike tee shirt it is more expensive than in the UK combined with peoples lower average income.
It did seem pretty dangerous as I travelled most places in cars, very limit walking in the urban areas and people are reluctant to show off any form of material wealth. Very seldom do you see expensive cars as they make you a target.
Did not see one instance of drug taking, I have seen more living in London than there.....people are friendly and Euros are still uncommon enough to be interesting to the locals.
I heard plenty of stories of expats setting up language schools there and doing well, as a lot of students have a desire to learn English to better their job oppurtunities albeit a different type of lifestyle ie no gadgets, no iphones, no games consoles etc. Cheap beer, good weather, attractive women.
From all accounts if you were looking somewhere in SAmerica to try Brazil might be a good shot. Lots of investment there with the World Cup and Olympics coming soon and less obvious social issues.
If you wanted any more specific info just let me know