- Located in South America on the Pacific ocean; bordered by Peru and Colombia
- Recently re-vamped constitution
- Slightly smaller than the state of Nevada
- Tropical climate on coast; cooler inland and at high elevations
- Has the highest mountain in the world (technically), Mount Chimborazo. (Mt. Everest is measured from sea level, where Mr. Chimborazo is measured from the center of the earth)
- Approximate population of 15 million
- A republic government structure with a civil law legal system
- Economy is largely based on petroleum export
- US dollar is the currency
- Telecommunication is rapidly growing; cell service is readily available in most places.
The volume of the broadcast that Ecuador is a top retirement and investment location has been progressively getting louder over the past few years… for good reason.
Located firmly in South America, Ecuador offers incredible purchasing power. Real estate can be found at very good prices without sacrificing on value. In fact, because Ecuador has only recently come onto the radar for international relocators, real estate has not seen the same price increases that many of the other destinations have experienced. Considering the country now would definitely put you on the front side of the curve and you would have a great deal of investment opportunity.
An expat who has lived in Ecuador recently recorded his monthly expenditures, including rent and entertainment, to be $735 US per month. This included expenditures like eating out once a week, a house cleaner, transportation, and technology. Think of what these things cost back home.
To live in one of the bigger cities would likely cost you twice this amount. That being said, even at that number, you are living an amazing quality of life for significantly less than one would pay in the US. Many of the blogs and articles written highlight Ecuador mainly for the potential to live so inexpensively. While this is generally accurate and obviously a benefit, some of the best reasons for relocating to Ecuador are the culture, food, and overall lifestyle.
Ecuadorian people are generally incredibly friendly and helpful. The communal attitude that has permeated culture makes it a wonderful community to become a part of. Like anything, this can be a double edged sword. The people of Ecuador are easy going and rarely in a hurry. North American agendas are at direct odds with the way of life in Ecuador. Things move slower and the bureaucracy is thick. Be prepared to abort your North American hurry hurry attitude, or you’ll find yourself frustrated.
Technology and civic infrastructure have really started to take hold in Ecuador. There are several competing cell providers that offer both pre-paid and contract based service. The roads and city planning have ramped up in recent years under the new administration. Like any developing country, one of the major keys to comfortable living are the roads and ability to cross bodies of water, by ferry or bridge. Oil investment has fueled the country’s commitment to growth and is likely an indicator anticipated future growth.
Looking for old world charm, incredible mountains, and beautiful beaches? Ecuador has them all. Looking for a safe place to live? Ecuador’s crime rates are the lowest in Central and South America. Want to take a break from the grind and focus on the important things in life like friends and family? Ecuador requires it.