From its lofty perch (9,350 feet) on the eastern slopes of the active Pichincha Volcano, Quito, Ecuador is the highest official capital city in the world.
Long overlooked as a tourist or expat destination in favor what many had viewed as Ecuador’s premier attraction, the Galapagos archipelago, the unique blend of historical architectural neighborhoods, cultural diversity, stunning vistas and surprisingly affordable cost of living for those seeking to retire or relocate to a new and exciting locale, Quito has been “rediscovered” as a place to see and experience.
M. Surgenor
Why Quito, Ecuador has become a new investment and relocation hotspot
Favorable treatment of Ecuador by the U.S. Government as a trading partner
Over and beyond being a prime location to experience South American culture at its finest, Quito, Ecuador has also emerged as a vibrant spot for relocation, investment, and business opportunities for retirees and those who seek new horizons in which financial growth potential abound.
To begin with, the significant upgrades and improvements made by both municipal and Ecuadorian authorities have opened many investment and real estate opportunities both in the central area and in the ever-expanding outlying regions.
In 2011, as part, of the National Export Initiative, the U.S. government made a strong commitment to help U.S. companies grow their export market and expand business operations into Ecuador. Being the seat of the national government, Quito has become a major focal point for much of this growth and activity.
Importantly, on March 13, 2000, the U.S. Dollar became the official currency for the country. With U.S. products being favored by Ecuadorians, there is a real potential to develop business and financial partnerships that can provide true economic potential.
Rinaldo W
A new airport means enhanced access for both passengers and cargo
In 2013 the new Mariscal Sucre International Airport opened for business, expanding the growth potential for both the number of flights and the potential increase in cargo both imported into and exported from Quito.
The new airport also increased the safety of flights which no longer would have the task of taking off and landing over a dense urban area.
A vibrant and affordable real estate market
The real estate market is a strong and vibrant area that should appeal both for the investment potential and in terms of affordable housing. The biggest single draw for settling in a city like Quito is the affordability.
By way of example, an 85 square meter (900 Sq. Ft.) fully furnished unit located in an upscale part of Quito might run in the $700-$800 range with utilities running between $90-$100 per month.
If purchasing an apartment is under consideration, a potential buyer can expect to pay between $800 and $1100 per square meter (roughly 10 square feet) outside the city center and slightly higher ($800-$1200 per square meter) in the central area.
Thomas Obrian
Tax advantages for seniors
Importantly for retirees, seniors can apply for property tax exemptions on the sale of properties. Annual property taxes are reasonable throughout the country as a whole. Taxes are generally assessed at roughly 2%-to 2½ % of the market value.
As might be expected, locations like central Quito might run higher than a rural home. By way of example, a home in an urban area that runs in the $170,000 range could have a taxable value of only $4,250.00.
The advantages of living in a highly developed community, like Quito, Ecuador, combined with the very favorable real estate situation make this an exciting and viable option for a move overseas.
Brian Dubois
Living in Quito, Ecuador – the potential for expats
In recent years interest in Quito, Ecuador has dramatically renewed as the “baby boomer” generation looks toward retirement and new locations where those retirement dollars can return a maximum amount of benefit as economically as possible.
As the nation’s capital, Quito has the kind of benefits one would expect of the country’s second largest city. The infrastructure is constantly being upgraded with such features as an increased number of electric trolleys (for example) that will help reduce pollution in this city of just under two million.
Moderate temperatures, moderate rain
The climate is as unique as the city’s history; most locals would agree that it is possible to experience “four seasons in a single day.” If you are looking for the tropical “beach life,” Quito is not for you. The temperatures are moderate year-round ranging from an average in the mid to high 60s during the day to a comfortable low in the high 40s to low 50s at night.
Like much of central and South America, there are only two “official” seasons – wet and dry. The “dry” season, June through September, matches the summer months in the U.S. and only has an average of 7 days of rain per month.
The “wet” season is far less daunting than other tropical destinations; the monthly average of precipitation during these months is 12.5 days. The most moisture-laden months, March through May and October, range from 13 to 15 days.
Modern amenities and low cost of living
As one would hope to find in a modern city, high-speed internet, cell phones, cable and satellite television are all accessible. Importantly, Ecuador does not tax U.S. social security payments and like other central and South American countries, the cost of medical treatment is significantly lower than in the U.S.
If you are over 65, there are numerous 50% discounts for utility bills, admission to sporting or cultural events and, as the number of expats continue to grow (some estimates put the number at between 5,000 and 10,000) existing expat communities will expand and new ones will be developed as Quito’s real estate potential grows.
Getting around in Quito – lots of options for tourists and expats alike
Inexpensive public transit system makes getting around an easy matter
With all the colonial charm infused in the city, it is easy to expect that transportation from one point to another could be a real challenge. Surprisingly, there are a number of affordable options that make exploring this colorful and historical center much easier and, for those who have decided to make Quito their expat destination, an inexpensive way to enjoy life in Ecuador’s cultural hub.
There are three types of buses that operate in Quito: Metrobus El Trolio and Ecovia. The Metrobus stations are painted blue and are marked with the letter “Q”. They run from the Universidad Central in America to the last station located at Carcelen. This is the best bus to take to visit the Mitad del Mundo Monument.
El Trolio has green stations and run from the La Y location in the northern part of the city to El Recreo in the south passing through the downtown area and runs the closet to Plaza Grande.
The third line is Ecovia. This line has red stations and buses and actually runs inside the historic Old Town district. With stops that range from Rio Coca station in the north to La Marin station in Old Town, this would be the choice to visit the Casa de la Cultura and Estadio Olimpico.
When leaving the airport, there is also the option of taking buses with the “Amazonas” or “Juan Leon Mera” route markers displayed that will take passengers to La Mariscal; buses with “La Marin” indicated will drop visitors within a short walk of Old Town.
Lots of options for getting around town
Public transportation in Quito, Ecuador is much less expensive than their equivalent service in the U.S. or Europe. A typical fare is $0.25 per person (U.S.). Taxis are also much less costly; the minimum daytime fare being $1.00 and the nighttime minimum $2.00.
Just as in the other parts of the world, make sure that the cab is one of the “official” vehicles that are painted yellow with a number on the door and that the driver actually turns on the meter before the trip starts. “Enterprising” taxi drivers looking to improve their daily fares seem to be a worldwide phenomena and Quito is no exception.
For the more enterprising, adventurous and athletic, there are bike rentals available at Yellow Bike or the Ecuador Freedom Bike Rental. There is a well-marked bike path through the northern part of the town.
Motorized scooter and motorcycles are also available at these businesses. While it is possible to rent a car in Quito, the city is better explored using public transportation, bicycling or on foot.
Dogymho
Quito’s past is the cornerstone of its future
As one of the first two cities (Krakow, Poland is the other) designated by UNESCO as a World Cultural Heritage site, Quito can quite rightly be viewed as the cultural center of Ecuador as well as an important location in the history of South America.
Early beginnings as part of the Inca Empire
Quito’s roots were imbedded in time well before Sebastián de Belalcázar and 204 Spanish settlers founded the city on December 8, 1534. The site had been inhabited by the Quitus tribe. The Quitus were part of the pre-Columbian Quechua society that later became the Inca Empire in the early 1400s.
Known as the Kingdom of Quito, ancient Quito was the major community focal point for the pre-Incan people who first settled on the side of Pichincha. Under the Incan rule, Quito became the second most important city of their empire.
Quito figured prominently in the Incan Civil War. Following the death of the Incan ruler, Huyna Capac, in the early 1500s, two of his heirs, Atahualpa and Huscar, fought over who would succeed as the leader of the Empire. Atahualpa had the backing of Quito and several military leaders, while Huscar had the support of Cusco.
Atahualpa prevailed in 1532 only to fall to the Spanish under Pizzaro who executed the Incan in 1533. To spite the victorious Spaniards (and perhaps to keep any valuables from them) a local general, Rumiñahui, burned the city so that when de Belalcázar and his party arrived they found little of value remaining.
Roman Korzh
The Colonial era
During the Colonial era, Quito flourished as a center of commerce and importantly, an artistic pinnacle. The Quito School of Art, founded by students of the Franciscan missionary, Jodoco Ricke, displayed a unique and high quality of painting and sculpture that fused classic Spanish religious and indigenous native themes.
On May 24th, 1822, following nearly fifteen years of attempts to break the stranglehold of Spanish rule, Quito was liberated during the Battle of Pichincha and became part of Bolivar’s “Gran Colombia”.
Simón Bolivar and Manuela Sáenz
One of the key figures of Bolivar’s revolution is still revered as a hero in Quito, Ecuador today; although the correct designation should be “heroine”. Manuela Sáenz was the illegitimate daughter of a Spanish officer and Ecuadorian woman.
When she was born in Quito in 1797 her mother’s family disowned both of them and Manuela was sent to the Santa Catalina convent, located in Quito. A free spirit, Manuela, at age 17, also got involved with a Spanish officer and the nuns threw her out.
Her father decided to marry her off to a English doctor who relocated to Lima in 1819 after the wedding. Being well-to-do, the doctor and his young wife moved in a lot of prominent social circles where Manuela was introduced to the changing face of South America.
The call of revolution was like a siren song to the young woman and, in 1822, she left her husband and life in Lima and returned to Quito. It was there that fate intervened and Manuela met Simón Bolivar. The two fell in love and Manuela soon became part of the fight for independence.
As part of Bolivar’s cavalry, she distinguished herself and, on August 6, 1824 after the Battle of Junin; subsequently, she would rise to the rank of Colonel for her efforts in the cause at Ayachuco on the personal recommendation of Bolivar’s second-in-command, General Sucre.
But it was her bravery on the night of September 25th, 1828 that earned her a place of honor both in Quito and the history of South America.
She and Bolivar were spending the night at the San Carlos palace in Bogotá when political opponents tried to assassinate Bolivar. Manuela threw herself between her lover and the attackers, giving him time to escape.
It was this act of heroism (or love) that moved Bolivar to give her the nickname “the liberator of the liberator.”
Ecuador becomes independent and Quito becomes the capital
In 1830, Ecuador left Bolivar’s Gran Colombia to become an independent nation. As the seat of art, culture and the living symbol of the resistance and struggle for freedom, Quito became the capital city of the fledgling nation and remains so to the present.
Moya Peralta
The sights of Quito – true Ecuadorian works of art
Religion and culture have played important roles in the buildings and streets of Quito. With over 40 churches, convents, and monasteries and 17 public squares, Quito has been labeled as “The Reliquary of the Americas” for the variety, amount and blend of indigenous, colonial and independence eras of influence both in style and utility.
The three zones of Quito
Quito can be roughly divided into three parts; the Old City-which is located in the center of Quito, the modern Northern Zone, and the working class neighborhoods of the southern and northern zone (north of the airport) that have fewer tourist attractions.
Much of the dramatic architecture of the ancient community was constructed using indigenous carved stone and locally made sun-dried brick. Following the Spanish triumph over the Incas and de Belalcázar’s arrival, builders used these materials as part of their construction of many of the monumental buildings still in evidence today in the Old City.
Nicolas de Camaret
Top sites to visit in Quito, Ecuador
Here are just some of the unique and stunning “colors” to the pallet of Quito that completes the picture that this fascinating city paints:
Conjunto Monumental San Francisco: This grand house of worship dates back to the latter part of the sixteenth century. The Franciscan order was the first religious group to settle following the arrival of the conquistadors. The church is home to many fine examples of what has come to be known as “syncretic art”; these works embody the unique fusion of Roman Catholic religious art with native Ecuadorian elements. Perhaps the best known example of this is the sculpture of the “Virgin of Quito” by the artist Bernardo de Legarda.
La Virgin de Panecillo: Located on El Panecillo, a large hill next to the Old City, this sculpture is the inaccurate replica of the Legarda work. Visible from practically any point in the city, local Quitoans often say that she is the only virgin in the city. Given the steepness of the hillside, it is strongly recommended that a bus or taxi be used to make the climb.
Casa de la Cultura: Lots of local artisans can be found here. This is a great location to find handmade craft items and paintings not readily available anywhere else. There is no admission fee.
Mitad del Mundo: Meaning “middle of the world” this monument a short distance outside Quito commemorates the location where measurements were first taken in 1736 by members of the French Academy of Sciences to test the flattening of the Earth’s shape at the poles. The monument contains a marked line that supposedly indicated the path of the Equator; modern GPS technology has established that the actual equatorial line is roughly 240 feet north of the original line. The admission fee to the park is $2.00.
Calle de la Ronda: This street in Old Town was restored in 2007 with the help of the city and the local residents. With quaint shops, romantic cobblestone streets, cafes, restaurants and romantic atmosphere, visitors here are easily transported to the days of colonial Ecuador.
Museo Mindalae: This museum offers a distinct and unique perspective of the ethnic and historical background of Ecuador’s people and cultures. Covering the various societies from the Amazon basin to the Andes mountains, the exhibits demonstrate the rich heritage of Ecuador that Quito so rightfully represents.
Museo de la Ciudad: Located in the heart of Old Town across from the Carmen Alto monastery, this exhibition focus more on the social history of Quito and Ecuador than the other institutions. By viewing re-enacted scenes from the daily life of the common Ecuadorian, a true sense of living in this unique and colorful country can readily be gained. Whether looking at a domestic scene from the 1500s or witnessing a battle for independence with the Spanish, visitors can better appreciate the path Quito and Ecuador have taken.
Parque Bicentenario: The second largest park in the urban area, this open air recreational space is a tribute to the dedication to revitalizing Quito and making it a more desirable residential area as well as a commercial center. The area has actually reclaimed the space of the old Mariscal Sucre Airport that closed in 2013 and contains well marked paths for cycling and walking, outdoor exercise equipment and a man-made pond.
Plaza de la Independencia: Known locally as “Plaza Grande” it is both the physical and symbolic heart of Quito. As the central square of the city, it also represents the political and governmental power of Ecuador’s capital and the location of the offices of the country’s executives. The principal feature of the square is the monument to the heroes of August 10, 1809 marking the first declaration from Quito’s Royal Audience of the desire to be free of the Spanish rule.
TelefériQo Cruz Loma (or Teleferico): Billed as the second highest cable car/aerial lift in the world, these gondolas, located on the eastern face of the Pichincha volcano (which is still active) will carry visitors from a height of roughly 10,000 feet to a dizzying 14,000 in roughly eight minutes. At a cost of $8.50 per person ($4.00 for local residents), the ride is certainly worth it as the entire city of Quito is visible below on a clear day.
Become a part of Quito’s future
With all of the economic, cultural, and lifestyle potential that are contained in this thriving and growing Andean capital city the obvious question is: How to find out if this cultural cradle is a place for you? The only way to find out is to visit and experience all that Quito, Ecuador has and can offer in the future.
With an ever-tightening economy, Quito can provide a potential for those considering an expat lifestyle that is both economically practical and socially and culturally exciting.
There is a kind of magnetism in Ecuador’s capital city that is compelling and desirable. Allow Quito to weave its magic and the possibilities are endless.
Map of Quito, Ecuador
Quito, Ecuador Fast Facts
- Population: 1.6 Million
- Typical temperature: Ecuador is known for its micro climates.
- Major airports with U.S. flights: Quito, Cuenca and Guayaquil. Complete list of airports in Ecuador.
- Nearest U.S. consulate: Quito
Ecuador visa
There are many attractive features that make Ecuador an excellent destination for expats of all demographics. One of the biggest advantages of relocating to Ecuador is its relative ease of obtaining an Ecuador visa.
Whether you’re a recent college graduate who wants to spend a few months abroad before entering the workforce, a young entrepreneur who wants to invest in tourism or real estate, or a retiree with guaranteed income from a pension or annuity, Ecuador has a visa suited to your particular situation.
Compared to a lot of Latin American countries, an Ecuador visa has lower income requirements. The process itself also generally costs less (between $500-$1000), due in part to the fact that the quick turnaround time (two to four months) cuts down considerably on attorney fees should you decide to hire one.
An immigration lawyer is something you might want to consider, unless you’re only seeking a temporary visa. Their help can be invaluable in sorting through the stipulations and requirements, obtaining and certifying the necessary paperwork, and dealing with the immigration officials who can often up and change the rules on a whim.
If your stay in Ecuador will be a short one, you can probably figure things out on your own. This detailed guide will give you a great start, but you’ll still want to double-check everything with the Ecuadorian embassy or consulate in your home country before starting the process.
Ecuador Visas for Tourists
Under 90 Days (12-X Visa)
We should first note that, if you hail from the U.S., Canada, or most European countries, you don’t need to apply for a visa of any kind in order to visit Ecuador as a tourist. All you need is a valid passport (good for the next 6 months), proof of your planned departure from the country (via air, land, or sea), and evidence of your financial solvency (like a bank statement).
As long as your total time in the country won’t exceed 90 days in any calendar year and you don’t plan to draw income from an Ecuadorian source, then you can get by as a tourist on merely your T-3 tourist stamp in your passport.
90-180 Days (12-IX Visa)
If you need to stay longer than 90 days you can apply for a 12-IX visa, which is good for an additional 90 days (for a total of 180), but only once in a calendar year. Common reasons for such a stay, besides tourism, include studying abroad, conducting research, participating in international sports, or even traveling for business (just not for an Ecuadorian entity).
You’ll still need to prove that you have sufficient funds to support yourself while in the country. You can also provide a letter from any sponsor who might be providing you with support. The cost for this visa is $50.
Roubicek
Ecuador Visas for Non-Immigrants
Also known as non-resident, these visas remain in force for a specified amount of time, usually a year or two, but can be renewed as long as your status is unchanged. You’ll just need to show up again with all the required paperwork and fees you provided the first time around.
Below are some common types of non-immigrant visas:
- Student (12-V Visa) – Those studying abroad in Ecuador need only provide proof of their registration in an Ecuadorian educational institution, as well as proof of solvency. Acceptable forms include a statement from a relative who’s supporting the student, proof of a domestic bank deposit to cover the student’s financial needs, and several others. This visa costs $50 and must be renewed annually.
- Work (12-VI Visa) – If you’re traveling to Ecuador for business, government, or other professional reasons, you’ll need documentation from your company, government, or other agency to verify your need to be there, as well as their financial support. You’ll also need a labor contract certified by the Ecuadorian Labor Court, a work permit from the Ministry of Labor, and possibly a certificate from the Superintendency of Companies. There’s also a $50 fee for this visa, and the length of its validity is dependent on your work requirement.
- Volunteer/Missionary (12-VII Visa) – When traveling to Ecuador with a religious or volunteer organization, you’ll need a certificate from them stating why you’re there and describing what you’ll be doing. You’ll also need copies of the decree showing the organization has been authorized to work in Ecuador, the rules of the organization, and the document showing who legally represents the organization in Ecuador. This visa is free and good for two years.
- Cultural Exchange (12-VIII Visa) – Foreign students and teachers are permitted a one-year stay in Ecuador and need only provide a copy of the application they submitted to the institution sponsoring their visit, as well as a copy of the organization’s agreement explaining their exchange program. Teachers must also sign a statement to verify they won’t receive pay from an Ecuadorian source for their work abroad. There is no charge for this visa.
Ecuador Visas for Immigrants
Unlike non-immigrant status, immigrant (or resident) visas are issued for an indefinite period of time (as long as you continue to meet the requirements for the specific visa). They also allow their bearers to seek employment in Ecuador, unlike their non-resident counterparts.
Examples of immigrant visas are as follows:
- Pensioner (9-I Visa) – This visa option is available to people of any age who can prove income from a guaranteed source (like a pension or annuity) that equals at least $800 per month. Another income option is a cash deposit in an Ecuadorian bank that generates the required amount of monthly cash flow. Dependents are also eligible, but require an additional $100 each.
- Real Estate Investment (9-II Visa) – Foreigners can qualify for this visa by either purchasing property valued at $25,000 or more or by purchasing a certificate of deposit in an Ecuadorian bank for the same amount (plus $500 for each dependent) for at least a one-year fixed term.
- Industry Investment (9-III Visa) – Another investment option is to pour in at least $30,000 to an Ecuadorian enterprise, such as industry, agriculture, livestock, minerals, and more.
- Professional/Technical (9-IV and 10-V Visa) – These visas are offered to company representatives or technical experts who are working under contract for a company based in Ecuador (10-IV) and professionals with college degrees who wish to work in Ecuador (9-V). Applicants for the latter must have a degree that’s recognized by a local university and must also fulfill all other requirements for practicing their profession (i.e. exams and licensing).
- Economic Dependence (9-VI Visa) – This Ecuador visa is granted to family members of applicants receiving the above visas, as well as dependent spouses of current citizens or those whose child is an Ecuadorian citizen.
Rinaldo W.
General Ecuador Visa Requirements
In addition to the specific documents needed for the individual visas mentioned, the following Ecuador visa requirements may also be requested:
- Passport valid for more than 6 months into the future
- Police certificate from the applicant’s state of residency, detailing their criminal record
- Medical certificate to verify the applicant’s good health
- Two photographs
- Visa application form
- HIV test
Some Important Restrictions
While it’s relatively easy to obtain and maintain an Ecuador visa, the country does have a few quirky little nuances that you need to be aware of.
- If you overstay your 90-day tourist stamp on your passport, don’t think you’ll be able to just scoot right out of the country without anyone noticing. Instead, you’ll need to visit an immigration office to receive a stamp called a “salida” before you’ll be permitted to leave.
- While immigrant visas are issued indefinitely, you can lose them if you stop meeting the required criteria or if you fail to comply with one of the next requirements discussed.
- After being granted residency, you can’t be out of the country for more than 90 days (total) per year for the first two years. The 90 days apply separately to each year and can’t be carried over.
- After your initial two years as a resident, you can’t stay out of the country for more than 18 months at a time without losing your resident status.
- If your visa depends on a deposit made in a local bank, you can lose your residency if you withdraw it. The same applies if you sell the real estate you used to qualify, so any proceeds will need to be immediately reinvested.
- While some of these violations might not be immediately obvious, these Ecuador visa requirements are all reviewed when you go to renew your cedula (your Ecuadorian ID card). So, while you may not be immediately ejected from the country for a violation, you will still be found out eventually.
Disclaimer
It’s true that the Ecuador visa requirements and application process are relatively straightforward and hassle-free. However, we still don’t advise you go it alone, particularly when it comes to finding qualified investments or conducting other real estate or business transactions.
The services of a qualified attorney can make this already simple process even easier. They can also save you a lot of time, money, and headaches. Just make sure you choose someone who has plenty of experience with immigration issues, yours in particular.
Check out local expat forums or blogs for recommendations on professionals who can help you. And hop on over to our other Ecuador articles to learn more about the exciting things that await you once you arrive.
Jorge Luis G
Are you looking for a change? One that involves a healthier lifestyle, a more well-rounded cultural experience, and a fatter wallet?
If so, look no further than Ecuador.
With its beautiful surroundings, ever-improving infrastructure, and near-perfect weather, more and more would-be expats are ending their search by finding themselves living in Ecuador. It’s a great place for investors, young families, retirees, and just about anyone else we can think of.
Here are a few of the reasons that those looking for a better life often find it living in Ecuador.
1. Ecuador is consistently ranked one of the best places to retire abroad.
Each year International Living ranks destinations based on factors like climate, cost of living, and friendliness of the locals in its Annual Global Retirement Index. Ecuador has been performing well in most categories in recent years.
In fact, in 2014, it came in a close second (with a score of 91.2 to 91.1) to Panama as the #2 overall destination. The survey results cite a number of reasons that living in Ecuador in retirement is such a great choice, many of which appear later in this list. Two big ones were its affordability and its variety of lifestyle options.
It’s also an easy place to do business. Processes like buying property, investing in business, and getting a visa are all relatively simple in Ecuador.
2. Its various micro-climates offer a little something for everyone.
Not only is it blessed with immense natural beauty, Ecuador is one of the most biodiverse countries in the world. It boasts close to 50 different ecosystems, in a country that’s roughly the size of Nevada.
Overall, most of the country enjoys spring-like weather year round (with merely a wet and dry season), due to its location along the equator. As in most Central American countries, adjusting the temperature or humidity while living in Ecuador is just a matter of moving up or down the mountain as both generally decrease as you ascend.
The Pacific Coast offers an array of picturesque beaches. There are also two chains of the Andes Mountains, which offer relief from the heat and a number of historic colonial cities.
There’s also the tropical and humid Amazon Rainforest which is largely unexplored, save a recent spike in adventure travel. And don’t forget about the breezy Galapagos Islands, a popular attraction among tourists and scientists for decades.
ARKNTINA
3. Your U.S. dollars stretch a lot further living in Ecuador.
One of the most appealing characteristics about Ecuador is its low cost of living. With the exception of some harder-to-find consumer goods, most everything is considerably cheaper than in North America. Also, we mentioned U.S. dollars, because that’s the currency the country uses, since 2000.
You can find a furnished property to rent for as little as $500 per month. Fresh fruits and veggies for the week (enough to feed two) are fresh, readily available, and will only set you back about $15-$20 per week. Fuel in Ecuador is subsidized and hovers right around $1.50 per gallon.
While real estate prices have been steadily climbing in recent years, it’s still extremely affordable compared to North American prices (although costs can vary greatly from one city to the next). You can also splurge on the services of a maid or domestic helper, which will run you about $10-$15 per day.
All in all, most couples find it possible to lead a satisfying lifestyle living in Ecuador on less than $1500 per month.
4. The country’s conditions are conducive to a healthy lifestyle.
The population of Ecuador is one of the healthiest in the region, particularly in cities like Vilcabamba, which is known as the “Valley of Longevity” as its residents reportedly live longer than in any other place on earth.
Much of their well-being is attributed to the clean air and clean water. There’s little pollution, and the rivers that flow down the mountains are fed by the overflow of glacial pools high in the mountains that are rich in minerals and nutrients.
This pure, healthy water nourishes the fruits and vegetables, most of which grow year-round due to the conducive weather conditions. There’s an abundance of organic oranges, bananas, avocados, almonds, papayas, and more.
Due to the fresh produce, as well as the topographical barriers that make importing unhealthy packaged foods rather difficult, most Ecuadorians eat very healthy diets. They’re also quite active, tending gardens on the slopes of the mountains and using their own two legs as their primary mode of transportation.
Maurizio Costanzo
5. Ecuador is rich with culture of every kind.
Whether you’re looking for the arts and music offerings of a first-world country or the authentic cultural charm of a developing one, Ecuador is happy to oblige. It’s home to 13 indigenous populations, many of whom still adhere closely to their native traditions.
You can find groups of natives who still speak their own language and wear their native dress. Yet at the same time, Ecuador’s larger cities offer many of the luxurious amenities you’d expect from the most highly developed destinations.
Cities like Cuenca, Guayaquil, and Quito have the usual list of cultural happenings, such as symphonies, art exhibits, festivals, and museums. Cuenca and Quito are also UNESCO World Heritage Sites, which makes for the perfect blend of historic and modern culture.
The people of Ecuador are friendly and welcoming. They’re very receptive to foreigners and, as a result, Ecuador is home to people from all over the globe who’ve embraced the country as a fantastic place for enjoying a rich multi-cultural experience.
6. It’s well-connected, both physically and technologically.
Another thing that makes living in Ecuador so convenient is its easy access. It has two international airports, Quito and Guayaquil, and direct flights from the U.S. are less than four hours long.
You can fly straight to Quito from Miami, Houston, and New York, as well as from nearby Panama City, Panama, and Bogota, Colombia. Once in the country, local transportation is also widely available, reliable, and inexpensive.
The country also has a high rate of internet connectivity. Cell phones have relatively good reception, and there are internet cafes throughout most decent size cities. Many homes have high-speed internet, and the government is actively working to increase this percentage.
7. Ecuador offers excellent healthcare.
While you might have to sacrifice a few first-world conveniences when making the transition to living in Ecuador, quality health care isn’t one of them. Quite the contrary.
In most of Ecuador’s larger cities you’ll find world-class medical facilities with the latest technology. Many doctors speak English, and a large number of them trained in the U.S. They spend more one-on-one time with patients, often offering their personal cell phone numbers or calling patients at home to check on their progress.
Despite the impressive quality of the medical care in Ecuador, the prices are only a fraction of what you’d pay for the same services in North America. As a result, it’s become a popular destination for medical tourism.
Patients travel to Ecuador to receive services such as plastic surgery, dental procedures, orthopedics, and more. The country is also well known for its alternative medicine and natural healing options.
Maurizio Costanzo
8. Ecuador is a great place to pursue the American (or any other) Dream.
Many North Americans these days would agree that the American Dream is broken. It’s becoming increasingly more difficult to realize success and have the things you want for your family, while still having enough spare time and money to enjoy them.
The reality is, though, that all of the things associated with that ideal quality of life we dream about are available in much greater abundance in Ecuador. It’s the South American Dream, if you will.
Living in Ecuador you can spend more time doing what you love (in some fantastic surroundings, we might add) and less time doing the bland, tedious, hurried things you wish you never had to do again.
That’s not to say you can’t pursue your passions and live the life you’ve always envisioned in North America. You can. It’s just that the ability to do so is now financially out of reach for most of its residents.
Who wants to expend every last drop of their time, energy, and money just to pay the bills and stay afloat in a merely nice suburb when you can work less, experience more, and enjoy the unsurpassed beauty of a place like Ecuador?
Give Living in Ecuador Some Thought
These and other reasons are why so many families are realizing their version of the American Dream, just a little further south of the border. Ecuador is a great place to live immersed in authentic culture, without giving up any of the modern conveniences you crave, and with still enough left over to explore everything else the region has to offer.
There’s a reason Ecuador continues to top the charts of best places to retire or even visit abroad. And it’s been further validated by the thousands of expats who now call it home. Living in Ecuador is more than just a bargain retirement. It’s a value proposition that’s definitely worth considering.
Map of Ecuador
Ecuador Fast Facts
- Population: 15,439,429
- Typical temperature: Ecuador is known for its micro climates.
- Major airports with U.S. flights: Quito, Cuenca and Guayaquil. Complete list of airports in Ecuador.
- Nearest U.S. consulate: Quito
Everything you need to know that happened in the last 2 months in Ecuador.
Each day we sift through hundreds of articles in English & Spanish to bring you the very best ones from Central America. From investment indicators to new infrastructure projects. Adventure stories to politics. It’s all here.
Ecuador June 2014.
Casey
Ecuador Lifestyle
- South America Emerges As New Hub for Adventurous Expats (Emigrate UK) Ecuador is being touted as the perfect place to live the expat dream for many Americans, but watch out, those Brits are on their way as well.
- Man to Run Across Ecuador’s ‘Avenue of the Volcanoes’ (BBC News) One ultra marathon runner is going to have some hot toes when he attempts a run across Ecuador’s 100-mile ”Avenue of the Volcanoes” in just one day.
- Development on the ‘Lost City of Giants’ in Ecuador (Epoch Times) Grossly large pyramids, unknown to man, have been discovered in the remote jungles of Ecuador. Not so fast, says the government of Ecuador whose team concluded that the site was a natural formation and not man-made, ruling out any government funded excavations, or preservation of the site.
Codelco
Ecuador Economy
- Ecuador Eyes Legal Reform, Tax Incentives to Spur Mining Sector (Reuters) Big plans are in the works for Ecuador to change its mining law and offer tax incentives to attract foreign investors and spur investment. They hope to accomplish this by adjusting a windfall tax and make changes to its mining law.
Rinaldo Wurglitsch
Ecuador Tourism
- Quito, Ecuador Nominated As South America’s Leading Destination for Second Consecutive Year (Zawya) Way to Go Quito! The world’s second highest capital city, one of Latin America’s leading tourist and trade destinations, was nominated for the second consecutive year as the South American Leading Destination at the World Travel Awards (WTA) 2014.
- Hitting Ecuador’s Highlights — and History (Seattle Times) Where can a traveler find direct links to a nation’s past? Ecuador, of course, when they visit a revitalized Quito, centuries-old haciendas and famous Otavalo market nestled in the Andean mountains.
- Ecuador: Taking a Hike in the Clouds (The Province) A jungle hike through Mashpi Preserve in the Chocó cloud forest of Ecuador is like stepping back in time — a long, long time ago.
Presidencia de la República
Ecuador Politics
- Ecuador’s President Backs Indefinite Re-elections, Coy About His Plans (Reuters) How does one keep their presidential job in Ecuador? Ask Ecuador’s President Rafael Correa who is backing a constitutional change which will allow politicians to run indefinitely, potentially paving the way for the leftist himself to seek the top job again in 2017.
- Can Rafael Correa Deliver His Citizens’ Revolution for Ecuador? (The Guardian) President Correa faces tough challenges in modernizing his country’s economy and overcoming an intractable colonial legacy which divides his nation.
Josh Kellogg
Ecuador Environment
- Ecuador Becomes First Country to Undergo Innovative UNCTAD Programme to Assess ‘Green Export’ Potential (United Nations) The United Nations is taking an active role in Ecuador’s move to develop national “green sectors” that will expand exports and employment, while promoting sustainable development, in the first stage of a new programme on green export potential and policies.
- Ecuador Issues Permit to Drill In Pristine Amazon Reserve (Huffington Post) Ecuador has issued an environmental permit for oil drilling in its Amazon reserve. Two indigenous groups living in voluntary isolation inhabit Yasuni, which the U.N. in 1989 declared a biosphere reserve.
- Ecuador Declares Emergency in Galápagos Islands (Wall Street Journal Online) Ecuador has declared a state of emergency on the Galápagos Islands following a freighter accident which was carrying chemicals and dangerous products leaked toxins into the surrounding sea. Ecuador enacted the emergency in order to deal with the nearly 1,000 tonnes of pollutants the ship was carrying.
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When looking at lists published by international living gurus citing the best places to live in and retire to overseas, the nations of Ecuador and Panama consistently appear among the places with the highest rankings.
As beautiful, affordable tropical destinations go, they’re among the best of the best. And, while they’re both excellent overall as places to retire, raise a family, start a business, or just live for a short time, each has certain areas where it shines brighter than the other.
We’d be hard-pressed to say which country is the best or, even more specifically, which one is the best for YOU and your particular situation. That decision is best left up to your family, based on your individual needs and priorities.
What we can do is highlight a few categories that are important to expat families and tell you which country excels in that area.
D. Bmcnicol
Round #1 – Lifestyle Hacks
Winner: It’s a Tie
One of the coolest things about living abroad is the ability to enlist help for tasks that you might be fed up with doing yourself, but would’ve never had the means to hire out in North America. Some examples are maids, gardeners, drivers, tutors, and nannies.
And domestic help is abundant and affordable in both Panama and Ecuador. We’d be tempted to give this category to Ecuador for its lower cost (around $10 per day for the services of a maid vs. $15 for the same work in Panama).
However, as is often true, you tend to get what you pay for. So some might argue that the quality of service you receive from domestic helpers is superior in Panama.
Eddie Codel
Round #2 – Connectivity
Outcome: Panama By a Nose
This is another area where both countries excel far beyond the reach of most of their Latin American neighbors. And, up until recently, this category would have gone to Panama by a landslide.
However, Ecuador is aggressively working to improve its internet coverage. As a result, the country’s connectivity is increasing by leaps and bounds with a goal of access in 50% of households by 2015. (It’s currently closer to 35%.) Free public access centers are also widely available across the country.
While Ecuador’s connectivity is great, Panama’s is excellent due in part to a long-standing U.S. military presence. In fact, it ranks #2 in all of Latin America for technology and internet penetration and #1 for wireless availability.
Most Panamanian cities offer affordable broadband service, and there are free wi-fi hotspots nationwide. Because of its technological advances, companies such as Dell, 3M, and Philips have chosen it for their regional headquarters and customer service centers.
Pavel Kirillov
Round #3 – Living Options
Slight Edge: Panama
Both Ecuador and Panama have a lot to offer in terms of variety of living options. When it comes to mountain towns, Cuenca, Ecuador, and Boquete, Panama, are among some of the top expat destinations in Latin America. There are others as well, such as Loja, Quito, and Vilcabamba in Ecuador and Volcan, El Valle, and Santa Fe in Panama.
There are also popular beach towns in both countries. Salinas, Ecuador, has been compared to Miami’s South Beach. There’s also Montanita and Manta. Panama has Bocas del Toro, the quintessential Caribbean beach town, as well as Coronado and Pedasi.
Panama City trumps places like Ecuador’s Quito and Guayaquil if you’re looking for something that more closely resembles a first-world city. The other place where Panama takes the cake is with its options for island living. Ecuador has the Galapagos Islands, a great place for tourists to visit or explore but not necessarily live.
However, Panama offers options like Boca Chica Island, which offer nature-loving expats the opportunity to own their very own piece of a private island that’s only a hour away from the country’s second-largest city and an international airport.
Wogo 24220
Round #4 – Green Living
Winner: Ecuador
While Panama has long had its sights on continuing to improve its infrastructure and commerce, it lags a bit behind in its sustainability initiatives. However, it is making some strides in the right direction. Take for instance the village of Kalu Yala, a development that has a goal of becoming the world’s most sustainable residential community.
Most green efforts in Panama are more grass roots and less government-driven. On the other hand, Ecuador has the unique distinction of being the only country in the world where the rights of the natural environment are protected by the nation’s constitution.
Sustainability issues are on the government’s radar in Ecuador as it battles issues like the threat of drilling in its Yasuni National Park, the most biodiverse place on earth.
Vilseskogen
Round #5 – Cost of Living
Clear Winner: Ecuador
Ecuador and Panama both offer the ability to live satisfying lifestyles for a fraction of the North American budget. As you can imagine, prices vary greatly from one city to the next, with some of the more developed areas running much closer to U.S. prices.
However, overall the cost of living is considerably less in Ecuador. In fact, it’s often one of the country’s biggest selling points, with many expat couples claiming to live just fine on a mere $1200 per month including rent, which averages around $450. This includes luxuries like high speed internet and once-a-week maid service.
Both countries have great discount programs for their senior adults, with Panama’s pensionado program being one of its most attractive benefits for retirees. However for most expats, particularly young families, it’s cheaper to live in Ecuador.
Rivera Notario
Round #6 – Ease of Access
Advantage: Panama
This was an easy one. Mainly because the majority of Ecuador’s incoming flights have layovers in places like Panama City (as well as Miami, Bogota, and places in the Caribbean). As a result, travel to Ecuador is longer and a bit more expensive.
It does have great public transportation once you fly in to Quito or Guayaquil, as well as connecting flights to a number of regional airports.
By contrast, Panama’s recently expanded Tocumen International Airport receives direct incoming flights from multiple U.S. cities, as well as various points in South America. David’s Enrique Malek International Airport will also soon begin welcoming international flights, opening up the western regions of Panama to expats and tourists from all over the world.
Matthew Straubmuller
Round #7 – Business Climate
Champion: Panama, Hands Down
To decide this category, you only need to look at the stats. The International Finance Corporation ranks Panama 55th in the world for ease of doing business, compared to Ecuador’s rank of 135th. This survey is based on factors that affect one’s ability to start and operate a local business.
This comes as no surprise, as Panama’s government has historically been extremely pro-business and pro-investor. It’s also somewhat of a tax haven and an increasingly popular place to open an offshore bank account. Panama also offers a whole host of visa options, with the number of choices increasing frequently.
Ecuador, on the other hand, has a reputation of being a bit unstable and unpredictable. It struggles with issues such as high government turnover rates and an economy that is based a bit too heavily on petroleum.
However, Ecuador’s economy is growing. The country is also taking steps to reduce the government’s influence in certain business sectors.
Gaspar Serrano
Round #8 – Banking
Advantage: Panama
Both Ecuador and Panama benefit from having a dollarized economy. However, both have seen requirements tightening in recent years due to laws like FATCA and other U.S. tax evasion agreements. As a result, it’s becoming increasingly difficult for foreigners to open an account.
That being said, the banking process is far more friendly to foreigners in Panama. It’s home to a number of international banks and is emerging as a major player on the global banking scene.
Ecuador, on the other hand, suffers from inconsistent regulations and subpar accounting standards, although its banks’ performance has improved in recent years. Due to the inconsistencies, however, the process of opening an account can be a bit long and tedious.
thinkpanama
Round #9 – Investment Opportunities
Our Pick: Panama
When you look at the ingredients for a savvy investment, they include factors like low costs, massive infrastructure projects, a focus on tourism, and government incentives. Both Ecuador and Panama have all of these. And lots of them.
Panama just has more. Its real estate is still affordable. The government has recently invested $15 billion in projects like airport expansions, new roads, and a metro system. There are tax breaks on everything from the importation of building materials to build a hotel to income tax on land purchased for reforestation.
Ecuador offers many of those same advantages, and often at a lower cost. So you could argue that in Ecuador there’s a bit more room for appreciation. However, the benefits of investing in Panama are just still too good to award this category to anyone else.
Presidencia de Republic de Ecuador
Round #10 – Health Care
Outcome: Another Tie
Ecuador and Panama both benefit from having excellent health care systems, with skilled medical staff and modern facilities. English is widely spoken by doctors in both countries, many of whom trained in the U.S, and hospitals offer the latest in technological advancements.
The low cost of care is also a big plus, with procedures generally running about ¼ of the price for the same service in North America. Health insurance is also affordable and widely available.
Both countries suffer from the same main drawback in this category: availability in rural areas. While they both have state-of-the-art hospitals, they’re found only in the largest cities. Clinics in more remote locations may be limited to basic services or even first aid only.
ThinkPanama
Round #11 – Consumer Goods
Winner: Panama
Both Ecuador and Panama have a surprisingly good selection of consumer goods. As a result, you usually need only drive to the nearest city to find exactly what you’re looking for, or at least a comparable replacement.
Where Ecuador suffers in this arena is due to its ever-increasing taxes. Many items have become more difficult to find, or at least more expensive, in recent years. Consequently, fewer and fewer items (like vehicles and cell phones) are being imported.
Panama, on the other hand, has become quite the shopping hub for folks all across Latin America. This is due in part to its low value-added tax of 7% (vs. 12% in Ecuador). We’ve even seen people who traveled from Ecuador to Panama City to buy several flat-screen TV’s due to the better prices and availability.
D. Rorfold
Round #12 – Foreign Land Ownership
Victor: Panama
In both Ecuador and Panama, foreigners who buy property have their rights protected by the constitution just the same as nationals of that country. There are also few restrictions on what land they can buy. Well, there’s only one really, and it’s in Panama where foreigners can’t own land within 10 kilometers of the border.
Both countries offer an abundance of land available at, in some cases, rock-bottom prices. However due diligence is absolutely necessary before buying land in either country.
Purchasing real estate as a foreigner can be a challenge, but the whole process is a bit easier in Panama. A good attorney is a must, so choose one who’s experienced in land transactions and can handle things like researching the title, drafting contracts, and registering the deed.
D Rorfold
And the Grand Champion Is…
Nah. We didn’t keep score. There’s just too much to love about both of these countries for us to try to give the trophy to one or the other.
What’s more important than our opinion is your own experience with each of these fine countries. So, if Ecuador and Panama are on your short list of potential expat destinations, then we suggest you open a new tab and start looking for flights. There’s no better way to pick a winner than to just let the two duke it out firsthand.
Map of Panama
Panama Fast Facts
- Population: 3.8 million
- Typical temperature: Temperature typically varies from 72°F to 91°F
- Nearest airport with U.S. flights: U.S. bound flights leave daily from Tocumen International Airport
- Nearest U.S. consulate: Panama City
Map of Ecuador
Ecuador Fast Facts
- Population: About 15.49 million
- Typical temperature: Ecuador is known for its micro climates.
- Major airports with U.S. flights: Quito, Cuenca and Guayaquil. Complete list of airports in Ecuador.
- Nearest U.S. consulate: Quito and Guayaquil
OliverH
There’s a lot of buzz about Ecuador as an expat haven that’s among the world’s best places to retire or live in Latin America. But not a lot of people know much about it.
Like, for starters, where is Ecuador? I mean, it’s on the equator, right? Hence the name. But doesn’t that mean it’s unbearably hot?
And is it a long way away? How do I get there and how long is the flight?
We’ll answer these and other questions you may have about this popular destination. But let’s start with the most important one.
Where Is Ecuador on a Map?
There it is! Right there on the west coast of northern South America. Between Colombia to the north and Peru to the south. The equator does pass through it, roughy ¼ of the way down, near Quito.
Andrew Turner
How Do I Get There?
Ecuador has two main airports. There’s Mariscal Sucre in Quito and Simon Bolivar in Guayaquil. Quito’s airport is new and modern. It even has an on-site hotel that’s currently being built. However, both are a bit of a hike from the city. The old airport, which was more centrally located, is now closed and is being transformed into a park.
Some travelers also fly into Guayaquil on the coast. It also has a modern international airport with all the amenities you’d expect, like restaurants and duty-free shopping. It’s only a few minutes north of the downtown area.
Once in the country, buses are plentiful and affordable. There are also a number of regional airports, including two in the Galapagos Islands, which can only be accessed via mainland Ecuador.
What Airlines Fly into Ecuador?
U.S. Airlines that offer flights to Ecuador include Delta, United, and American Airlines. TAME, an Ecuador-based airline, flies into New York City. LAN Ecuador also flies there, as well as Miami.
From the U.K., you can fly American Airlines from Heathrow to Quito. KLM will also get you to Quito from Heathrow, by way of Amsterdam.
Other airlines that fly into Ecuador from destinations throughout Latin America are Copa, Avianca, Aeromexico, Iberia, and TACA.
Morpholux
Do I Need a Visa to Go There?
Not unless you want to stay for more than three months. By presidential decree, citizens of any country may visit Ecuador and stay for a period of 90 days. You won’t need a visa. However, you’ll want to check with your embassy to see what other paperwork might be required. For North Americans and most European travelers, it’s usually just a passport and a copy of your return ticket.
Sara Y Tzunky
When Is the Best Time to Go?
Because Ecuador is located on the equator, it has roughly the same weather year-round. So there’s really no bad time to visit. However, depending on the region, some seasons are a little better than others, as Ecuador’s climate varies greatly among its four distinct areas.
The coastal lowlands stay between 80 and 90 degrees. During the rainy season (December to April), you can expect a torrential downpour pretty much every day.
The Andean highlands are much cooler with daytime highs in the mid 70s. Nights can get pretty cool with lows around 50 degrees. The rainy season is the same, with April generally being the wettest month and June to September representing the driest period.
The Amazon region is probably much closer to what most people picture when they try to imagine a climate along the equator. Predominantly tropical lowland rainforest, it’s hot and humid with temps in the 80s and 90s and steady rainfall throughout the year.
It’s still popular among adventure travelers despite its challenging climate. The frequent showers make for excellent whitewater rafting and kayaking.
Despite being situated almost directly along the equator, the Galapagos Islands get some relief from the heat thanks to the cool Pacific waters. As result, they enjoy temps between the mid 60s and upper 80s with surprisingly little rainfall.
What Places in Ecuador Should I Visit?
Ecuador is jam-packed with natural wonders and cultural attractions. Here are some of the most popular spots that you won’t want to miss.
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Banos is the adventure capital of Ecuador. It sits at the foot of the active Volcano Tungurahua. It’s also surrounded by a number of hot spring mineral baths.
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Canoa is a beach town that hasn’t lost its appeal as primarily a laid-back fishing village.
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Cotacachi is a small village that’s only 90 minutes from the capital city of Quito. It enjoys a rich cultural heritage.
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Cuenca is a beautiful colonial city in the mountains that’s quickly becoming one of the most popular expat destinations in Latin America.
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Esmeraldas is a cozy beach town that’s a little more laid-back but still one of the country’s most popular.
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The Galapagos Islands are an archipelago scattered far off the country’s coast. Made famous by Charles Darwin, they’re visited by scientists and nature lovers from all over the world.
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Guayaquil is the largest city in Ecuador. A bustling coastal town, it’s a functioning port city with a relaxed Caribbean feel.
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Loja is another mountain town that’s growing in popularity. Smaller and more affordable, it’s known for its cultural importance and musical roots.
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Manta is a beach town that offers coastal living combined with all the big city amenities of a modern industrial city.
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Montanita is another popular beach town. Known for its surfing and nightlife, it attracts a whole host of colorful characters from all walks of life.
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Otavalo is another mountain town that has retained its quaint, authentic appeal. It’s most famous for its popular textile market.
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Quito is Ecuador’s capital city. Located in the mountains, it has a well-preserved historic district and a monument situated on the equator marking the “middle of the world.”
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Riobamba is the gateway to Mount Chimborazo, Ecuador’s highest peak. It’s also the starting point of the famous train ride down the Nariz del Diablo.
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Salinas is a crowded beach town that’s often dubbed the Miami of Latin America. It’s popular among locals and boasts a number of water sports.
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Vilcabamba is located high in the mountains. Its water comes from melting glacier pools and is among the purest on earth, possibly contributing to the good health and longevity of its residents.
As you can tell, there’s a lot to see and do in Ecuador. It’s also one of the least expensive destinations of its kind. Now that you know how to get there, consider taking a trip to experience the sights of Ecuador firsthand.
Ecuador Fast Facts
- Population: About 15.49 million
- Typical temperature: Ecuador is known for its micro climates, learn more here.
- Major airports with U.S. flights: Quito, Cuenca and Guayaquil. Complete list of airports in Ecuador.
- Nearest U.S. consulate: Quito and Guayaquil
bengarland
Cuenca, Ecuador, is a rare find among expat destinations. Latin America has its share of quaint mountain retreats, eclectic beach towns, and even cosmopolitan cities.
But Cuenca is in a class of its own.
It’s large enough to house a wealth of cultural offerings and first world amenities, yet not so big that it loses its small town feel. It’s authentically Ecuadorian, but with enough North American familiarities to make expats feel right at home.
These factors, combined with its ideal climate and low cost of living (including housing), are the reasons that Cuenca, Ecuador, real estate has been in such demand in recent years.
Cuenca, Ecuador: From “Panama” Hats to Publicized Hotspot
Cuenca’s roots date back to the ancient Incas, before it was conquered by the Spanish in the mid-16th century. Many of the churches, plazas, and other structures they built still remain, earning Cuenca a place as a Unesco World Heritage Site.
The city thrived as an important industrial, manufacturing, and agricultural center. It also saw much success from the production of the erroneously named “Panama” hat, which was made from local palms. Other lucrative industries included the making of ceramics, furniture, and jewelry.
While tourism was always central to its economy, the industry really began to pick up speed over the past dozen or so years. However, the big tourist and expat boom came in 2009 when International Living named Ecuador as the world’s best retirement destination, citing Cuenca as its most attractive city.
Since that time, expats from all over have flocked to Cuenca in droves. They range from retirees to young families or singles, looking to start a business or even work for their same company by telecommuting from abroad.
Why Expats Love Cuenca
Sure there’s the culture, the colonial charm, and the ideal climate (temps in the mid-70s year round). But lots of cities offer those same perks.
Here are a few of the factors that make Cuenca, Ecuador, real estate stand out above the rest when expats are choosing a place to retire or raise their family.
It’s an incredibly livable city.
There are a number of features that not only add value to Cuenca’s already-desirable real estate. They also make residents’ day-to-day life much simpler and more enjoyable.
Recent infrastructure projects include pedestrian walkways, bike paths, underground parking facilities, and a light-rail system that will transport an estimated 100,000 people per day. As a result, very few people find it necessary to own a vehicle in Cuenca.
Other pluses include about 20 modern medical facilities (offering highly qualified medical professionals and state-of-the-art technology), shopping malls, high speed internet, and plenty of restaurants and bars.
It’s family friendly.
In addition to its beautiful architecture, Cuenca is full of public parks and common areas where families can gather. It sits high in the Andes Mountains where four rivers converge, allowing for plenty of opportunities to explore the surrounding natural environment.
Cuenca is also extremely safe, with very little violent crime. It’s quiet and conservative, with most establishments shutting down by 10:00 at night (or at least turning down their music).
Of utmost importance for families with children are quality schools, and the ones in Cuenca are top notch, eliminating the need for a costly private education. The community as a whole places great value on education. There are also multiple universities, which even offer Spanish classes for adults who want to learn the language.
It has a well-established, yet integrated expat community.
Cuenca’s population is quite diverse. In addition to locals and expats from all over the globe, there is also a huge number of Ecuadorians (born in other parts of the country) who’ve lived abroad and then chose Cuenca upon returning to their home country.
North American expats alone account for an estimated 4,000 of the city’s roughly half a million inhabitants. What’s unique about Cuenca’s expats is that they generally live intermingled with the local culture, rather than separated by themselves in a gated community (as expats in many other cities do).
However, they’re still well organized as a group, with many expats events being held regularly.
The cost of living is pleasantly low.
As expenses go, Ecuador offers one of the world’s lowest costs of living. As Ecuador goes, Cuenca is on the higher end. That being said, those two basically cancel out, placing Cuenca on par with (or in many cases still cheaper than) most other expat hotpots in Latin America. Although most would argue that Cuenca has far greater perks and amenities.
Dinner and drinks for two at a first-rate restaurant can be had for $30 or less. Haircuts start at $1.50, as do four-course lunches. A dozen roses cost a mere $2. You can even hire full-time domestic help for as little as $10 per day.
Cuenca, Ecuador, real estate is also affordable. You can get a two bedroom, two bath condo near downtown for as little as $80,000 or rent a fully furnished place for $650 per month. Throw in low cost utilities, food, and transportation, and you could easily get by comfortably on $1200 per month. For $1500 you could really live it up.
Paulo Garcia
Cuenca, Ecuador, Real Estate Is Still a Solid Investment
While not the rock bottom prices you’ll find in some parts of Latin America (including elsewhere in Ecuador), Cuenca, Ecuador, real estate is still a bargain. It’s much pricier than the Cuenca of a decade ago, as properties have been appreciating at rates between 5-12% over the past 10 years, but it’s proven to hold its value well.
El Centro, the compact historic district, remains the most expensive area, and condos boast the highest returns. Just outside the city center are a number of neighborhoods (such as Estadio, 12 de Abril, Remigio Crespo, and the Zona Rosa) that are cheaper and still within walking distance.
Beyond those are areas like Totoracocha and Ordonez Lazo that offer larger homes, plus some modern apartments, at bargain prices. Suburbs such as San Joaquin and Chaullabamba are even more affordable, but those living on the outskirts would need a car due to the less frequent bus routes.
Cuenca’s popularity among students and tourists results in a larger than average pool of potential renters. This is great for those who own property there but only live in it during a portion of the year. Due to the affordability of Ecuador’s real estate, many choose this option, sometimes owning a beach house, a city flat, and a country retreat.
What’s the Future of Cuenca, Ecuador, Real Estate?
Isn’t that the million dollar question. While I can’t say exactly where the Cuenca’s real estate market is headed, I can tell you about a few trends that have been noticed in the past year or two.
The market seems to be cooling down.
Cuenca’s property values are still holding steady, but the days of double-digit appreciation appear to be over. Homes are staying on the market longer, and fewer are selling in general.
There won’t be a huge bursting of Cuenca’s real estate bubble, like what the U.S. experienced in 2008 (due to a history of more responsible lending standards, among other factors), but the market does seem to be topping out.
Construction and new developments are slowing.
There are still plenty of large-scale projects, mostly condominiums, underway in Cuenca, but the number is down from between 40 and 45 a few years ago to closer to 30 today. Likewise, the Chamber of Commerce reports the issuance of fewer building permits.
With more properties on the market, there’s an oversupply of housing for buyers looking for properties over $80,000. There’s simply less demand for new construction properties.
As a result, property values could decrease slightly.
The above factors are likely to lead to a buyer’s market that could help to stabilize, or even decrease, the cost of properties in Cuenca. This decline won’t be a rebound resulting from investor speculation and anticipations of long-term profit, as some expat towns have seen.
Rather, it’s more of the market’s way of righting itself following several years of increasing material and labor costs that had driven up prices considerably. In other words, it’s a good time to score a great bargain.
Many gringos are shifting from buying to renting.
It’s hard to say what’s driving this trend. One possibility is that various categories of expats (e.g. retired couples, families living abroad for only a year or two, etc.) just aren’t looking to buy something long-term.
What they need instead is a turn-key rental complete with furniture, included utilities and a property manager who speaks English. These types of properties average around $850 per month but can vary greatly depending on size, amenities, and location.
Even those mid-range visitors to Cuenca often opt for a nice unfurnished rental for a mere $300-$400 per month with flexible one- to two-year lease terms.
More and more buyers have their eyes on the historic district.
With the introduction of the new train system, as well as the addition of number of public parks and plazas, the historic district has never been more appealing. As a result, El Centro is becoming a highly coveted area for buyers looking to live in a historic building in the center of it all.
It’s also a prime location for developers who want to transform centuries-old properties into boutique hotels, swanky lounges, and luxury condominiums. It’s likely that the historic district could look like a totally different place in another 5 or 10 years. Relatively speaking, that is, since zoning regulations exist to preserve the authentic charm of the city center.
James Wilson
How Much Cuenca, Ecuador, Real Estate Will Your Dollars Currently Buy?
Here are some examples of current listings in the Cuenca area.
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A mere $65,000 gets you a 2 bedroom/2 bath condo near shopping and a short cab ride away from El Centro.
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$115,000 buys a modern two-story 3 bedroom/3 bath home near the historic district with high end finishes.
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For $215,000 you get a 3 bedroom/3 bath home located 3 miles west of downtown that has an open floor plan, a landscaped outdoor space with built-in barbeque, and parking for 3 cars.
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With $320,000 you can buy a four-story colonial home in El Centro, complete with 5 bedrooms, 4 baths, and a separate commercial space with income potential on a whopping 7,350 square feet.
What Are You Waiting For?
Cuenca, Ecuador, is one of the most desirable locales in all of Latin America. It’s full of authentic culture (plus modern amenities), breathtaking skylines, and some of the region’s friendliest people.
It offers affordable living without sacrificing any creature comforts. And it’s about to be cheaper to get in than it has been in years. How much more convincing do you need? Check out what Cuenca, Ecuador has to offer today.
Map of Cuenca, Ecuador
Cuenca, Ecuador Fast Facts
- Population: About 329,000
- Typical temperature: Ecuador is known for its micro climates, learn more here.
- Major airports with U.S. flights: Quito, Cuenca and Guayaquil. Complete list of airports in Ecuador.
- Nearest U.S. consulate: Quito and Guayaquil
Bonsairolex
Most up-and-coming tropical hotspots go through various stages of development. They’re relatively unheard of. They get discovered and developed. Expats and tourists arrive in droves from all over the globe. Prices skyrocket. And suddenly everyone is looking for the next up-and-coming destination.
Not so with Salinas, Ecuador real estate.
Unlike many of its coastal counterparts, Salinas is neither primed for or coming off some big real estate or tourism boom. It hasn’t experienced any sudden growth or development. Well, at least not in the past few decades.
When it comes to the Salinas real estate market, what you see is what you get. And what you get is a whole lot of bang for your buck in terms of beautiful beaches, great weather, modern amenities, and incredible bargains.
Bonsairolex
Salinas Has Been Growing Steadily for At Least 7 Decades
Like most popular coastal destinations, Salinas began as a quiet fishing village. However even in the early 20th century it was a popular vacation spot due to its warm, calm waters and abundance of sunshine.
While most of those visitors arrived mainly for the summer months (December to April), the establishment of a U.S. naval base in 1943 opened the door for even more tourists, particularly young women. Since that time, Salinas has steadily grown as it’s been frequented by more tourists and settled by more residents with each passing year.
The only real spike in population occurred about a decade ago when many Ecuadorians working in the shrimping business began to move their families to Salinas, turning it even more from a seasonal destination into a bustling city year-round. Today around 50,000 people call Salinas home.
Salinas, Ecuador Has All the Makings of a Dream Destination
The factors that have historically made the town popular as a vacation destination are the same ones that make Salinas, Ecuador real estate an ideal choice for many expats and investors. For starters there’s the weather.
Despite its proximity to the equator, Salinas enjoys a surprisingly mild climate, especially as tropical beach towns go. During the summer (December to April), which is the peak season, temps range from daytime highs in the mid 90s to evening lows near 70. And it’s sunny almost every single day.
From May to November an almost daily cloud cover leads to much cooler temperatures (low 70s down to low 50s). There’s also an occasional rain. In both seasons there’s a nice breeze that blows in from the sea.
The entire area boasts beautiful white to gray sand beaches and warm, clear waters. There’s also a wealth of aquatic adventures to enjoy. You can charter a boat for whale watching or game fishing or give surfing or wakeboarding a try. There are also a number of adventure companies offering activities such as parasailing, banana rides, and jetski rentals.
Rinaldo Wurglitsch
Does Salinas Live Up to Its Nickname?
Salinas has been dubbed by some as a “Little Miami” due to its popularity among locals and its highly developed tourist infrastructure. Can this South American beach town really compare to the glitz and glitter of South Beach? In some ways, yes. In others, heck no. And in one aspect, it blows Miami out of the water.
At first glance, yes, Salinas on a busy summer weekend could easily be confused with Miami’s crowded shore. The beach is a sea of umbrellas and oil-slicked sunbathers lined towel to towel. There are vendors and marketers crammed in everywhere, hawking their wares and plastering their logo on every exposed surface.
Stereos thump by day and discos by night (and into the wee hours of the morning). Beyond the malecon are rows of glistening high rise condo and apartment buildings. There are first-class resorts, restaurants, bars, and even a yacht club.
A Closer Look Reveals Some of the Town’s Flaws
While it does resemble Miami from a distance, there are stark differences once you come in a little closer to the Salinas crowd. For instance, even though Salinas is a highly developed city (and one of Ecuador’s only well-developed beach towns), it still isn’t a first world lifestyle.
You won’t find the same brand names and status symbols of South Beach. There are two supermarkets, a movie theater, and some small shopping centers. But you’ll have to drive a little farther to find much more than that.
Also, due to its appeal as a vacation haven and its close proximity to Guayaquil (just over an hour away), it’s extremely popular among Ecuadorians as a weekend getaway spot. (Read: It’s crowded.)
Many of these vacationers also have concern for little more than their own enjoyment. As a result, common courtesies like reasonable stereo volumes, use of trash receptacles, politeness, and other considerations are often lost on them.
Note: This kind of atmosphere obviously isn’t for everyone, for those who want a more laid-back vibe there’s Chipipe Beach which is located just on the other side of the jetty and the yacht club. It’s much quieter and more family-oriented. The beach is also wider, giving sunbathers and swimmers much more room to move around.
Nicole Rogers
Why the Town’s Biggest Downside Could Be an Investor’s Greatest Advantage
If Salinas was sounding like a great place to own property right up until that last part about the throngs of loud, rude, vacationing Ecuadorians, then you’ll like this next little tidbit.
Those weekenders from Guayaquil? They pack up and leave on Sunday evening and head back to their normal lives. Salinas remains a much quieter and calmer place Monday morning through Friday afternoon.
So, perhaps a better way to look at those incoming weekenders is how an investor would see them: as a fantastic pool of potential renters. They’re the second biggest reason that Salinas, Ecuador real estate is such a smart investment.
In addition to peak season weekends, they’re also eager to visit the coast around big holidays, like Christmas and New Year’s Eve, as well as Carnival which takes place in February. Even during the off season, many Ecuadorians like to vacation in Salinas while their kids are out of school. It’s also popular with newlyweds, as it’s sort of like the Ecuadorian equivalent of a Hawaiian honeymoon.
The Number One Reason Salinas, Ecuador Real Estate Is a Great Investment
Were you wondering where on earth you would go if you decided to rent your apartment or condo in Salinas and spend your time elsewhere during parts of the year? Well, if you’re like many natives and expats who own property there, you could go to your city flat for a few days or spend a week enjoying your mountain hideaway.
Due to the unbelievably low cost of real estate in Salinas (not to mention the equally low cost of living), it’s entirely possible–and quite common–for its residents to own two or even three homes in several of Ecuador’s diverse regions and climates.
Just how cheap is it? Well, relatively speaking, Salinas, Ecuador real estate represents one of the lowest priced real estate markets in the single lowest-priced country in the world, according to real estate giant Coldwell Banker (as of 2011).
I say “relatively,” because there a lot of places in the world where you can buy property for rock-bottom prices. But there are hardly any where you can enjoy top-notch amenities in an incredible setting the way you can in Salinas.
Its incredibly low real estate prices are the one area where Miami doesn’t hold a candle to Salinas.
On top of the affordable properties, things like entertainment, food, and other consumer goods are also extremely cheap in Salinas, as they are throughout Ecuador. You can eat a delicious meal of freshly caught seafood, including oysters and shrimp ceviche, for $8 or less and wash it down with a 20 ounce beer for a buck.
Rinaldo Wurglitsch
Just How Much Salinas, Ecuador Real Estate Will Your Money Buy?
So, that’s how much it costs to eat and drink in Salinas, but it’s time to get down to brass tacks. To give you an idea of what kind of real bargains are out there, here are a few of the actual listings currently on the market in Salinas.
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A mere $70,000 buys you 4 bedrooms/4 baths spread out over a whopping 2,690 square feet with a city view that comes fully furnished.
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For $120,000 you get a brand new home in a small gated community with a modern American-style kitchen, a shared pool, and a view of the beach a half block away.
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With $200,000 you can have a 3/3 in a brand new beachfront development that’s centrally located and boasts the finest amenities and high-end finishes.
With prices like these it’s easy to see why Salinas, Ecuador real estate is such a tempting purchase. It offers almost everything there is to love about a South Florida beach town, but at a fraction of the cost.
And, if you’re willing to overlook the influx of rowdy weekenders, or even use them to your benefit, then it could be the ideal place for you to own the beachfront property of your dreams. The only way to know is to try the place on for size. Just make sure to experience both seasons before you decide.
Map of Salinas, Ecuador
Salinas, Ecuador Fast Facts
- Population: 28,650
- Typical temperature: Ecuador is known for its micro climates, learn more here.
- Major airports with U.S. flights: Quito, Cuenca and Guayaquil. Complete list of airports in Ecuador.
- Nearest U.S. consulate: Quito and Guayaquil
With its authentic culture, great investment opportunities, and unmatched natural beauty it’s no wonder so many North Americans are considering an Ecuador retirement as one of their options.
Jorge
The nation consistently tops most lists of best places to retire. In fact, for 2014, the country was barely edged out by Panama (by a score of 91.2 to 91.1) when it ranked as the #2 overall destination on International Living’s Annual Global Retirement Index.
The study ranks popular expat destinations on a number of factors ranging from the cost of consumer goods to climate to the friendliness of the local population. They consider an Ecuador retirement ideal, particularly for its affordability and variety of lifestyle options.
Top Ten Perks of Ecuador Retirement
Here are a few of the top reasons to consider Ecuador if you’re a soon-to-be retiring would-be expat.
1. Ecuador offers an incredibly low cost of living.
In Ecuador, expats can enjoy some of the lowest prices in Latin America on everything from groceries to real estate to domestic help. A couple could easily live a modest lifestyle on as little as $1,200 per month, including rent.
With less money needed for things like housing and utilities, retirees have the ability to travel or pursue other hobbies. Inexpensive transportation that’s readily available makes getting around and seeing the rest of the country a breeze.
Ecuador also offers great benefits to its senior residents, with discounts as high as 50% on things like international airfare and entertainment.
2. Ecuador has surprisingly good health care.
Many expats who retire to Ecuador find themselves extremely pleased with the country’s medical system, particularly with the quality of care they receive.
Most doctors speak English, and many even trained in the U.S. Hospitals are clean and equipped with state-of-the-art technology. Best of all is the cost. Medical treatments can run anywhere from ½ to 1/10 of the cost for the same services in the U.S.
What’s more, Ecuador is known for the alternative treatments and natural healing options offered throughout much of the country. Not to mention, its beautiful scenery makes for an excellent place to recover.
3. Many factors make Ecuador feel a bit more familiar to expats.
For those who aren’t quite ready to take the plunge and completely immerse themselves in a new culture, Ecuador is a great option.
Expats and tourists will notice many familiar sights, like chain restaurants and other businesses.
English is widely spoken, both among the thousands of North American expats as well as many native Ecuadorians.
The country also uses the U.S. dollar as its official currency. This makes it easier to keep track of your budget and understand what things really cost. It also eliminates any concerns over exchange risks.
Ximena
4. Ecuador’s varied regions offer a wealth of climate and lifestyle options.
Expats who want the option of spending the morning sipping coffee in the mountains and the afternoon relaxing on a tropical coast should definitely consider an Ecuador retirement. In fact, many foreign residents choose to have their main home in the city, plus a beach property or a country retreat.
The country has 4 extremely varied regions, each with its own unique climate and intriguing surroundings.
La Costa (Coastal Lowlands)
Ecuador borders the Pacific Ocean and has mile after mile of beautiful coastline. There are bustling beach towns with great nightlife, as well as secluded stretches of unspoiled sand.
Due to its location, on the equator, most of the country enjoys a full twelve hours of sunshine each day. Temps on the coast range between 80 and 90 degrees Fahrenheit. There is, however, a rainy season from December to April when you can expect a torrential downpour almost daily.
La Sierra (Andean Mountains)
Ecuador has not one but two parallel chains of the Andes mountains. Among the famous peaks are both active and extinct volcanoes.
This region is much cooler, thanks to the altitude, with daytime highs around 75 degrees and nightly lows around 50. The temperature varies little throughout the year, although this area also has a rainy and dry season with April being the wettest month. June to September is the driest period.
El Oriente (Amazon Region)
Ecuador’s Amazon basin is mostly tropical lowland rainforest. As a result it’s sparsely populated, accounting for only 5% of the population even though it makes up almost half of the country’s land mass.
Despite this fact, it’s becoming increasing popular among adventure travelers who enjoy kayaking and rafting its wild rivers and exploring its uncharted wilderness for sightings of birds and other rare species.
This region is hot and humid, 80 to 90 degrees, with steady rainfall throughout most of the year (what most people imagine when they think of an equatorial climate). The driest months are August through March.
Galapagos Islands
These islands, of Darwinian fame, are located a few hundred miles off Ecuador’s coast. Even though they’re situated almost directly on the equator, the cool waters of the Pacific Ocean keep them from getting too hot.
As a result, they’re quite pleasant. Temperatures range between 66 and 90, and there’s surprisingly little rainfall.
Visitors still flock to these islands to see the impressive variety of unique species that call the islands home, many of which can’t be found anywhere else on earth.
5. The people of Ecuador are incredibly friendly and welcoming.
From the 13 indigenous groups who call the country home to the thousands of expats from all over the globe, the people of Ecuador are extremely welcoming to foreigners. The diverse population also makes for a fabulous melting pot of cultures.
There are many indigenous peoples who still wear their native dress, speak their own languages, and practice their ancient customs. Most towns have local markets where natives sell their handmade items and other wares.
6. Ecuador is connected and accessible.
Ecuador is only a 3.5 to 4 hour plane flight from the U.S., making it an easy place for family and friends to come visit you (or vice versa). Once you’re in Ecuador, public transportation is widely available. Buses cost around $1 for an hour of travel. Taxis will take you across town for no more than a few bucks.
Not only is Ecuador physically accessible, its internet connectivity is excellent. There are free public access centers, called Infocentros, located everywhere. Roughly 35% of the population is currently connected, and that’s projected to increase to 50% of all households by 2015.
7. Residents of Ecuador can enjoy many healthy lifestyle options.
The people of Ecuador are among the healthiest in the world, with some even claiming to live longer than most populations on earth. This longevity can be attributed to the clean air and pure water, which supplies the country’s fresh fruit and vegetable crops.
Most residents also do most of their travel on foot, since most cities are easily walkable. They lead active lifestyles and eat mostly local products, which include few processed or unhealthy options.
8. For its authentic charm, Ecuador has no shortage of luxurious amenities.
Although much of its appeal lies in its natural environment and authentic culture, Ecuador still offers most of the services and amenities that many expats expect from a retirement destination.
Beach towns boast five-star resorts. Many cities offer world-class spas and hotels. There are restaurants serving up a variety of international cuisines.
Larger cities, or those with established expat communities, offer plenty of cultural options such as art exhibits, festivals, symphonies, and more. Many of these attractions can also be enjoyed free of charge.
9. It’s easy, and profitable, to own land in Ecuador.
For those considering an Ecuador retirement, renting is always an easy option. However, an even better option is buying a property of your very own. Ecuador places no restrictions on foreigners who wish to purchase land, and their rights are guaranteed by the constitution as well as those of natives.
Because property can often be found at rock-bottom prices, land in Ecuador has tremendous growth potential. The government is also currently investing heavily in infrastructure, which is always good news for increasing property values.
10. Ecuador also offers a number of visa options.
By comparison, obtaining a visa in Ecuador is relatively straightforward. The process takes between two and four months, with the help of a lawyer, and usually runs between $500 and $1000.
A variety of visas are available for pensioners, real estate (or business) investors, business professionals, and more.
There are some unique stipulations, however. For example, if you leave the country for more than six months at a time you can lose your visa.
M&MdelEcuador
Best Places to Enjoy an Ecuador Retirement
Ecuador’s various regions offer a wealth of options for those who choose to retire there. Here are a few of the cities that have been most popular among expats.
Canoa – A laid-back fishing village.
Cotacachi – A small village with rich culture that’s only a 90 minute drive from the capital of Quito.
Cuenca – A beautiful colonial city in the mountains that’s extremely popular with expats.
Guayaquil – Largest city in Ecuador, a sea port with a relaxed Caribbean feel.
Loja – Smaller, more affordable mountain town famous for its musical roots.
Manta – A somewhat industrial coastal town with big city amenities.
Montanita – A surfing hotspot with lively attractions and some colorful characters.
Otavalo – Authentic mountain town with a popular textile market.
Quito – Capital city with a well-preserved historic district and “middle of the world” equator monument.
Salinas – Crowded coastal city with lots of water sports that’s popular with locals.
Vilcabamba – Serene mountain town that claims to possess healing qualities and the earth’s longest living citizens.
These are a few, but there are many more cities that would make for the perfect Ecuador retirement. Find the one that’s right for you!
Map of Ecuador
Ecuador Fast Facts
- Population: About 15.49 million
- Typical temperature: Ecuador is known for its micro climates, learn more here.
- Major airports with U.S. flights: Quito, Cuenca and Guayaquil. Complete list of airports in Ecuador.
- Nearest U.S. consulate: Quito and Guayaquil
Costa Rica has long been a favorite of expats and international travelers. With its beautiful beaches, friendly locals, and perfect weather it has claimed the top spot on lists of best tropical destinations for decades.
But what about newcomer Ecuador?
Rich in culture, and with a wide variety of climates and settings, Costa Rica’s South American neighbor is giving it a run for its money. Speaking of which, the cost of living in Ecuador is another perk that’s causing it to take top billing in many of those lists that Costa Rica once dominated.
Which is the better travel destination or expat haven?
Well, that depends solely on you and your priorities and expectations. To help you make a more educated decision, we’ve aligned the two countries in a side-by-side comparison so you can see how they stack up in several of the most important categories.
Ecuador vs Costa Rica
Use the Infographic on Your Own Site
Round #1 – Lifestyle Hacks
Slight Advantage: Ecuador
One of the most amazing benefits of living in Latin America is the opportunity to outsource a lot of your less desirable tasks. With a wealth of local labor resources that aren’t available in North America, you can hire helpers ranging from gardeners to tutors to drivers to grocery delivery guys.
You can even enlist the full-time services of a maid. (Think cooking, cleaning, grocery shopping, and laundry.) And, in Ecuador, that’ll only run you a mere $10 per day!
The cost in Costa Rica is a little higher, closer to $15 per day, but it can be argued that this is one area where you get what you pay for. With Costa Rica’s heavily customer-oriented service culture, the aid you’ll get there is top-notch.
However, the service in Ecuador is excellent as well so, in terms of value, we have to award this category to them.
Mathew Kebbeckas
Round #2 – Connectivity
Outcome: Ecuador Advances
For a country that excels so well in so many areas, Costa Rica is light years behind the rest in terms of internet speed and availability. Broadband is available in most of the larger cities, but it’s often difficult to find a signal elsewhere.
The country’s connection speed has increased by 43% in the past year. However, at 2.1 megabytes per second, it’s still barely enough to stream a movie in standard definition (and you can forget high def).
Ecuador, on the other hand, is aggressively working to increase its internet coverage. Currently, over 35% of the population is connected, with a goal of access in 50% of households by 2015. In Ecuador there are also free public access centers, called Infocentros, scattered all over the country, even in more remote areas.
Anthony Doudt
Round #3 – Living Options
Winner: Costa Rica for its Tropical Lifestyle
Both Costa Rica and Ecuador, with their varied topography and diverse ecoclimates, offer a wide range of living and travel options. There are mountain towns, beach communities, and bustling cities.
In most of those categories, Ecuador is a worthy competitor. Cities like Cuenca and Loja offer colonial charm plus all the modern conveniences. The Galapagos Islands offer some of the world’s best biodiversity. Ecuador also has major cities, like Quito and Guayaquil, for those who want easy access to services and amenities (arguably better than boring, unattractive San Jose, Costa Rica).
Where Ecuador falls flat is with its tropical lifestyle. In short, beach towns. While it has a handful of established destinations, like Salinas and Montanita, those towns aren’t even in the same ballpark with what Costa Rica has to offer.
Tropical living and ecotourism are exactly what Costa Rica does so well. As a result, it can be a bit overrun with tourists at times and in certain locations. However, with so many options, there are still a number of places off the beaten path where you can find a secluded beach or a remote surfing spot. Costa Rica is the epitome of most expats’ ideal tropical lifestyle.
Wanja Krah
Round #4 – Green Living
Slight Edge: Costa Rica
In keeping with its commitment to the natural environment and its push towards ecotourism, Costa Rica is about as green as they come. Almost ¼ of the country’s total area is parkland. Over 90% of its electricity comes from renewable energy sources, with 95% projected by year end. It’s also well on its way to becoming the world’s first carbon-free economy.
It also feels greener in Costa Rica, with many businesses and communities promoting green initiatives and healthy living. However, Ecuador is certainly taking strides in this direction as well.
It’s the only country in the world where the rights of the natural environment are protected in the nation’s constitution. Ecuador is also home to Yasuni National Park, the most biodiverse place on earth. Although the region is constantly being threatened due to its 800-million barrel oil reserve, the country has undergone tremendous measures to protect it.
Tibo
Round #5 – Cost of Living
Clear Winner: Ecuador
Costa Rica is a top tropical destination for tourists and expats alike. However, it isn’t for its low costs. While still a fraction of what you’d pay for the same goods and services in North America, Costa Rica has one of the highest costs of living in Latin America.
By contrast, Ecuador’s reasonable cost of living is often one of its biggest selling points. There a couple could live simply on a mere $1200 per month. This total even includes rent, which runs around $450 on average.
And, by “simply,” we don’t mean completely free of luxuries like once-per-week maid service and high speed internet. While Ecuador’s cost of living is low, the lifestyle it affords is far from meager.
Sean Hobson
Round #6 – Ease of Access
Advantage: Costa Rica
Because of its long-standing status as a top Latin American destination, Costa Rica is serviced by a whopping 13 large airlines. It’s only 2 ½ hours from Miami and air travel from North America is often quite reasonable.
So not only is Costa Rica easy to access, it’s also a great starting point for travel in and around Central America. The only downside is that it has relatively few airports.
Ecuador has two international, Quito and Guayaquil, as well as a number of regional airports. However, most incoming flights have layovers in Miami, Panama City, Bogota, or the Caribbean, resulting in longer (and more expensive) travel.
Once you arrive in either country, public transportation is available to get you to points throughout the country. However, some trips in Ecuador can grow quite long. And Costa Rica isn’t exactly known for the quality of its roads.
CC
Round #7 – Business Climate
Champion – Costa Rica
We’ll go with some cold hard facts on this one. The International Finance Corporation ranks Costa Rica #102 for ease of doing business. Ecuador comes in at #135. In other words, neither has the ideal business climate, but Costa Rica’s is significantly better.
While far from perfect, Costa Rica’s business environment is one of the most stable in Latin America, with numerous incentives like low tariffs and competitive tax rates. Recent legislation has been aimed at attracting foreign investment and supporting the private sector. Processes like obtaining a visa or starting a business are relatively hassle-free, by developing country standards.
Ecuador’s business climate has been somewhat unpredictable in recent years. Its dollarized government is heavily based on petroleum, resulting in the need for the nation to look for ways to improve its trade balance. However, recent strides in economic policy have led to an estimated 5% growth.
Ecuador also offers a number of visa options. However, a number of stipulations (like losing your visa if you’re gone for more than 6 months) make maintaining residency a challenge at times.
My Future
Round #8 – Banking
Lesser Evil: Costa Rica
Due to FATCA and other U.S. tax evasion agreements, both Costa Rica and Ecuador have recently implemented stricter measures that create difficulties for foreigners attempting to bank there. You can no longer open an account with merely a passport, in either location. In fact, the requirements are very much the same for both countries.
Why Costa Rica? Mainly because of Ecuador’s inconsistent regulations and subpar accounting standards. The process of establishing an account can also take a good bit longer there.
One advantage Ecuador has is its use of the U.S. dollar as its official currency. Costa Rica’s colon, while it generally follows the dollar, is thinly traded and could present a problem in the event of a worldwide financial crisis.
Patrick Hall
Round #9 – Investment Opportunities
Winner: Ecuador
Costa Rica’s economy is one of the safest in Latin America, and its policies encourage foreign investment. However, though it excels in stability, it lags behind in opportunity.
Ecuador offers a wealth of real estate and business opportunities at a lower cost and, consequently, with a larger growth potential. The country is investing heavily in infrastructure, which generally results in increased property values. Infrastructure improvements are the #1 catalyst for real estate appreciation, as we discuss extensively in Pay Dirt, our latest ebook.
Tourism investments are also a great option in Ecuador. For its incredible number of natural attractions, Ecuador has a relatively weak tourist infrastructure. There’s a lot of potential for savvy entrepreneurs to profit in this arena as Ecuador continues to gain popularity among expats and international travelers.
Yannis
Round #10 – Health Care
Slight Edge: Costa Rica
This was a close one. Both countries offer excellent health care with skilled medical professionals and modern facilities, particularly in the larger cities. Costs are often as low as ¼ of the price for the same service in North America. Health insurance is also widely available and extremely affordable.
English is widely spoken among doctors in both countries, and many physicians even trained in the U.S. Hospitals are clean and equipped with the latest technological innovations.
While the care provided is great in both countries, the quality of Costa Rica’s health care system is ranked 36th in the world, ahead of the U.S. at 37th. It’s also physically closer to the United States, which could come in handy in the event that medical evacuation or frequent medical travel were necessary.
Mathew Johnson
Round #11 – Consumer Goods
Winner: Neither
Both Ecuador and Costa Rica have a few strikes against them when it comes to the availability and affordability of consumer products. Costa Rica taxes consumer goods heavily (its Value Added Tax is 14%), so as a result less of them are imported.
This can make it particularly hard to find the things you’re after. And if you do locate a hard-to-find item, you’re very likely to pay out the wazoo for it.
At 12%, Ecuador’s VAT is only slightly lower than that of Costa Rica. However taxes on imported goods have been steadily increasing. As a result, many Ecuadorians are actually going outside of the country to buy things like electronics.
Andrew Hall
Round #12 – Foreign Land Ownership
Our Pick: Ecuador
While both countries’ laws protect foreigners who own property, Ecuador’s are much more liberal. Property rights are guaranteed by the constitution, and they apply equally to foreigners and Ecuadorians alike.
What’s more, Ecuador places no restrictions whatsoever on foreigners who wish to purchase land. And there’s an abundance to choose from, often at rock bottom prices.
Compare this with Costa Rica who do not allow foreign residents to purchase land considered restricted or concession areas (which includes 95% of all beachfront property) until they’ve lived in the country for at least 5 years. However, many circumvent this limitation by buying property in the name of a Costa Rican corporation in which they have 49% ownership.
Due diligence is an absolute must before buying land in either country. We recommend the services of a qualified attorney, with experience in land transactions, who can thoroughly research the title and ownership rights.
Costa Rica vs. Ecuador – Who’s the Grand Champion?
Were you keeping score? We weren’t. That’s because it’s so difficult to say for certain exactly which destination is right for an individual.
Our best advice? Come see for yourself.
Is Costa Rica, with its tropical lifestyle and established expat communities, your idea of a dream destination? Or do you prefer to invest in up-and-coming Ecuador, where there’s excellent investment potential and so much left to discover?
There’s only one way to find out.
Everything you need to know that happened in the last 2 months in Ecuador.
Each day we sift through hundreds of articles in English & Spanish to bring you the very best ones from Central America. From investment indicators to new infrastructure projects. Adventure stories to politics. It’s all here.
Ecuador March 2014.
Andrew Hall
Ecuador Lifestyle
Retire to Ecuador (Huffington Post)
Healthcare is pretty darn cheap in Ecuador. You can now get full medical coverage as a retiree for about $70 a month. What a steal!
Beach Communities For Less Than $750 A Month (Financial Adviser)
Want to move there and live on the beach? You can, as Ecuador is one of the best places to retire comfortably in a beach community for less.
The Five Worst Things About Ecuador (Free Beacon)
Nancy and Chuck – Retirement in Ecuador (Watson Travels)
Here’s the thing. Ecuador is not perfect. But if you have an adventurous spirit it’s a great place to live and invest, such as Ecuador-bound bloggers Nancy and Chuck are discovering on their adventurous blogging journey to an expat life in Cuenca, Ecuador.
The World’s Best Place to Retire in 2014 (Daily Reckoning)
And if their experience isn’t enough here are several other good reasons why Ecuador is the world’s best place to retire.
Camino Verde
Ecuador Investment
“Economic Refugees” Find Happiness and Security Abroad (Fool)
From Panama to Ecuador, people known as >”economic refugees” are looking for a better lifestyle, lower cost of living, and fewer regulations than what they experience in the United States. Many expats are now finding economic freedom in Ecuador.
Ecuador, Uruguay and Malta boast best climates in the world (E Turbo Travel News)
Either way, they are enjoying one of the world’s near-perfect climates in Ecuador and relaxing lifestyles to boot.
Ecuador govt highlights US$500mn telecoms investment opportunity
Operating a Business Without a Permanent Address (Entrepreneur Magazine)
Ecuador’s broadband connectivity is top-notch, and with a recent $500 million investment, it will meet or exceed your expectation when setting up your virtual office and becoming a working nomad.
Otavalo Ecuador
Ecuador Real Estate
Foreign buyers help spark property boom in Ecuador’s Cuenca (Financial Times)
It really is no surprise who is fueling Cuenca’s property boom. Foreigners, of course.
Panama, Ecuador and Costa Rica top countries for retirees (E Turbo Travel News)
Then it should be even less of a surprise that Ecuador came up second in many lists of The Best Places to Retire in 2014.
PD Vos
Ecuador Tourism
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Ecuador eleva la inversión en turismo (Ecuador Increases its Investment in Tourism) (El Tiempo Ecuador)
How deep are Ecuador’s pockets? When it comes to tourism, they seem to be limitless, as the nation is digging deep to attract more tourists in 2014.
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Cuisine, cathedrals make Quito a South American capital of coo (New York Post) l
Quito really is the capital of cool. And those over at the 2013 Worlds Travel Awards, named it South America’s leading travel destination — it’s clearly time to check the city out.
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Ecuador: Hiking Andean trails without tourists ( Austin)
Not feeling urban? What about hitting the hidden hiking trails of the Andes instead.
What ever you choose. Ecuador does not disappoint.
EU Development Days
Ecuador Economy
Eucador Banks January-September Net Profit Fell 26 to 1985 Million (Nasdaq)
Ecuador’s Banks Face Tougher Regulations (Wall Street Journal)
Since President Rafael Correa took office, he has put the squeeze on Ecuador’s banking sector by tightening controls on private banks, which have affected both private and public growth and profitability.
Ecuador’s Economy Grew 4.9% in Third Quarter (Wall Street Journal)
Ecuador inflation hits 8-year low in 2013 (Brazil Sun)
Despite all of the banking news, Ecuador’s economy seems to be moving along, so says the Wall Street Journal. Inflation is even at an 8-year low.
Ecuador’s Banks Face Tougher Regulations (Wall Street Journal)
Ecuador’s Economy Grew 4.9% in Third Quarter (Wall Street Journal)
Bloomberg says Ecuador’s economy, South America’s seventh biggest, is growing, but at a slightly slower place than previously estimated, when it posted 4.9% growth in third quarter of 2013.
Ecuador sees 2014 trade deficit falling with new import rules (Reuters)
Ecuador hopes to lower its trade deficit in 2014 through new quality controls for imported products and support for domestic industry, such as manufacturing lead-free bicycles and importing less chocolate.
Ecuador’s Performance Challenges Perceptions About Leftist Latin American Governments (Economonitor)
Seems the nation is taking the path of producing more and importing less. However, Ecuador is not seen as a strict leftist country. Actually, the opposite, as analysts at Economonitor point ou,. Ecuador escapes the bad rap and is home to a prospering business climate.
Mulligan Stu
Ecuador Environment
Tungurahua volcano news & eruption updates (Volcano Discovery)
The Tungurahua volcano has erupted, sending an ash plume upwards of 40,000 ft. into the sky. See the before and after pictures of the eruption here.
Russia to invest $1.5bn in Ecuador energy (RT)
Russia has handed Ecuador $1.5 billion for access to its oil reserves. This news comes as a bit of a surprise seeing how the nation is still reeling from past environment issues with Chevron.
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Rinaldo W.
Ecuador vs. Nicaragua. Which is the better place to live overseas?
When it comes to choosing a destination in Latin America, both Nicaragua and Ecuador are great options. Both enjoy incredible eco-diversity, numerous opportunities for adventure, and a whole lot of bang for your buck.
Ecuador has consistently been named one of the world’s best places to retire. Nicaragua, which has historically remained off many expats’ radars due to its troubled past, has risen to the ranks of being the safest country in Central America. Today it’s emerging as one of the top destinations in the region.
So, which of these countries is the better option for your family’s much-anticipated move abroad? Well, that depends on you and how you’d like your life to look in your new home overseas.
While we can’t make a recommendation that’s right for everyone we can show you how the two stack up in several important categories in this Ecuador vs. Nicaragua stand-off.
Use the Infographic on your site:
Round #1 – Lifestyle Hacks
Winner: Nicaragua
One of the best ways to improve your lifestyle when living overseas is by hiring domestic help, something many can’t afford in North America. For instance, in Ecuador the cost to hire a maid for the day is $10.
Sound like a good deal? Not as good as Nicaragua where you can employ a full-time helper, like a nanny or caretaker, for just over $100 per month (depending on their hours and responsibilities). Domestic help is generally easy to find, but it’s important to screen applicants carefully. A safe bet is to hire a close friend or family member of another maid who is a known good worker.
Theragans
Round #2 – Internet Connectivity
Advantage: Ecuador
In terms of Internet penetration, speed, and quality, Ecuador wins this category. Overall it has more widespread affordable access, with over 35% of the population connected (vs. 10% in Nicaragua).
The main difference between the two is with Internet access in rural areas. In Nicaragua there isn’t any. By contrast, Ecuador has public access centers, called Infocentros, that are available (and free) even in more remote areas.
Connectivity is definitely on the agenda of both countries’ governments. Even Nicaragua has increased its availability 30-fold in the past 5 years alone. However, it still lags a considerable distance (12,628 internet hosts to Ecuador’s 170,538) behind Ecuador, whose goal is Internet access in 50% of its households by 2015.
Johnny Chunga
Round #3 – Living Options
Outcome: Ecuador for Variety, Nicaragua for Safety
While both Ecuador and Nicaragua boast their share of colonial towns, coastal paradises, and mountain hideaways, Ecuador’s four distinct regions offer much greater diversity in scenery and climate.
Popular Ecuadorian cities include the mountain towns of Cuenca and Loja, with their colonial charm and modern amenities. Also, on the coast, are places like Salinas and Montanita, which attract a large number of beach-goers. Ecuador is also home to the Galapagos Islands, perfect for nature-lovers.
Nicaragua also has its fair share of expat hotspots, and many are growing at increasing rates. Granada, which is situated on Lake Nicaragua, is a popular favorite. As is Leon, another colonial city that also boasts close proximity to the Pacific Ocean. Nearby beach towns include San Juan del Sur, famous for its surfing and nightlife. The Corn Islands are also an option for those seeking a Caribbean vibe.
It’s also worth noting that Nicaragua is now the safest nation in Central America, while crime continues to be a problem in Ecuador. However, it’s entirely possible to live safely in either location (and without burglar bars). What’s important is to use common sense and avoid appearing overly “flashy” or waving wads of large bills when paying for items.
Game of Light
Round #4 – Green Living
Clear Winner: Ecuador
When it comes to conservation and sustainability, Nicaragua is the land of missed opportunity. The largest country in Central America (and the least populated), Nicaragua is full of natural resources. However, several factors are preventing the nation from realizing its potential.
The lack of enforceable land rights has led to massive deforestation and a lack of government regulation. Pesticide use is widespread, and there’s little safe drinking water. Only 6% of the nation’s forests are protected.
Compare this with Ecuador, which has the lowest environmental footprint in the world. It’s also the only country in the world whose constitution protects the rights of its natural environment. Ecuador is also home to Yasuni National Park, the most biodiverse spot on the planet. Their efforts to protect it from the harmful effects of drilling its 800-million barrel oil reserve have been among the most creative in history.
Barefoot Expeditions
Round #5 – Cost of Living
Slight Edge: Ecuador
While both countries enjoy a very reasonable cost of living, prices in Ecuador are generally more affordable. This is particularly true when it comes to consumables, like groceries and restaurant meals (26% and 24% higher in Nicaragua, respectively). It’s also true of the country’s inexpensive health care.
In Ecuador, a couple could live simply on about $1200 per month, including rent which runs around $450 on average. Factored into this amount are expenses such as public transportation (in other words, not owning a car) and once-per-week maid service.
Two big exceptions are rent and transportation to North America. Home rentals run around 33% less in Nicaragua. It’s also much cheaper (and shorter) to fly to the U.S. More on that coming up.
Julie Rubinic
Round #6 – Ease of Access
Winner: Nicaragua
Ecuador has two international airports, Quito (UIO) and Guayaquil (GYE), although most travelers fly into Quito. Flights arrive from U.S. cities like Miami, Houston, and New York, as well as nearby Panama City, Panama, or Bogota, Colombia.
Due to its close proximity to the U.S., Nicaragua offers frequent short flights to a number of major U.S. cities. American Airlines has 3 daily flights from Miami. There are also daily flights from Atlanta (Delta) and Houston (Continental). Spirit Airlines also offers 3 flights per week from Fort Lauderdale.
In addition to international flights, which land at Sandino International Airport in Managua, there are also a number of domestic airlines that fly to cities across Nicaragua, including the Corn Islands. Nicaragua also offers short flights to nearby Costa Rica and Panama.
Vilseskogen
But once you’re in Ecuador, getting around’s a breeze.
It’s worth mentioning that, while Nicaragua is easier to get TO, Ecuador is a piece of cake to get around IN. The country’s transportation system is bordering on excellent. Thanks to subsidized fuel costs, there are inexpensive domestic flights. You can also fill up your car for as little as $1 per gallon.
Round #7 – Business Climate
Slight Advantage: Ecuador (for Now)
Let’s face it. Neither of these two countries has a gleaming record of political stability. Ecuador saw 48 presidents in its first 131 years as a republic. And while Nicaragua’s Daniel Ortega has certainly done some good for the nation’s economy, he’s not exactly known for his friendliness to businesses. He’s also currently pushing legal reform that will essentially result in the possibility of his limitless reelection.
As a result, this category was a tough one to call. We’re awarding it to Ecuador, mainly because Rafael Correa has a somewhat better track record as a political leader. In addition, the Ecuadorian government has been taking strides towards reducing its influence in various sectors and allowing independent businesses to function more…well, independently…due to new privatization laws. As a result, the country has seen considerable economic growth.
While we’re on the subject of government and bureaucracy, Ecuador also boasts the easier process for obtaining a visa. The whole ordeal is generally faster, cheaper, and less confusing than in Nicaragua where there aren’t a lot of resources for information. The biggest downside? If you leave for 6 months you lose your visa.
ST Jenna
Round #8 – Banking
Outcome: Nicaragua Wins
Both Nicaragua and Ecuador require that you jump through quite a few hurdles in order to open a bank account as a foreigner. However, once your account is established, you’ll generally find that Nicaragua offers the better banking experience for North Americans.
While it does use a different form of currency (the Cordoba), most establishments will also accept the U.S. dollar. (Note: Ecuador has had a dollarized economy since 2000.) What’s more, many Nicaraguan banks (6 at last count) hold relationships with U.S. financial institutions. This makes for an easy process when transferring money. However, it also means that “they” can see your money and where it’s going. Banks in Nicaragua also pay competitive interest rates on deposits.
The performance and transparency of Ecuador’s banks has improved in recent years. However, they still struggle with implementing and enforcing uniform regulations. Their accounting standards are also subpar. In possibly its worst offense, Ecuador also charges a 5% tax on all funds transferred out of the country. Ouch.
It’s easy to see why Nicaragua is the natural choice for banking of the two countries. That being said, neither of these is a place you’d want to choose for stashing large amounts of cash. There are just too many better options globally.
Dane Brian
Round #9 – Investment Opportunities
Winner: Ecuador
We mentioned that Correa has made some decent accomplishments during his tenure as president. One of the best ones from an investment standpoint? Infrastructure. Massive improvements in infrastructure.
Why does that matter? Glad you asked. Infrastructure upgrades (or even rumored ones) equal huge potential to savvy investors. Buying a beautiful piece of untouched beach that’s about to become more accessible due to a new road coming in is a tried and true strategy and one that we’ve written about extensively in our new ebook, Pay Dirt.
In addition to real estate, investing in tourism is also a smart move right now in Ecuador Real Estate. The country has a ton of amazing attractions, yet its existing tourist infrastructure is grossly underused. Plus the government offers a wealth of tax deductions and other incentives to foreign investors.
A. Scott
Similar laws and incentives exist to encourage tourism investment in Nicaragua, as well. Also, organizations like PRONicaragua aim to assist foreign investors by providing support services to those looking at potential business opportunities there.
Round #10 – Healthcare
Slight Edge: Ecuador
When it comes to Ecuador vs. Nicaragua, both countries enjoy clean, modern, quality healthcare facilities with well-trained medical staffs. However, the level of care and accessibility of treatment are slightly higher in Ecuador. Most of the doctors speak English, and many even trained in the U.S.
Costs are comparable in both countries, with a visit to a specialist costing no more than $25-$30 and an overnight stay in a private room still under $100. Accessibility is fairly widespread, but–as is true of most developing countries–availability and quality is far better in and around larger cities.
Perhaps the biggest difference in this category comes in the direction both countries’ systems are heading. While Nicaragua’s healthcare stands in need of some improvement, Ecuador’s government is currently taking strides to improve its own system.
Retro Traveler
Round #11 – Consumer Goods
Verdict: It’s a Tie
When it comes to consumer goods, Ecuador definitely wins for the availability of products. In Ecuador you can find a variety of domestic and imported products. However, due to recently imposed taxes and restrictions on imports, items such as vehicles and cell phones are becoming more scarce and expensive.
As a result, Nicaragua (although it has less to offer in the way of variety) may soon offer the better value on consumer products. This may become increasingly true as the country continues to attract more and more expats. Where expats are, imported products aren’t often far behind.
K. Kamikaze
Round #12 – Foreign Land Ownership
Victor: Ecuador
The laws of both countries are favorable towards foreigners who want to own land in either Ecuador or Nicaragua. Property rights are guaranteed in each nation’s constitution, and they apply equally to foreigners as well as nationals.
While Nicaragua does restrict property ownership near its borders, Ecuador has no restrictions whatsoever on foreigners owning property. The buying process is similar in both countries, requiring due diligence to carefully research the title and ownership. The services of a qualified attorney can simplify the buying process in either country.
K. Sevik
Ecuador vs. Nicaragua – Grand Champion?
While the match-up looks to have been a slaughter, with Ecuador taking the grand prize in this Ecuador vs. Nicaragua competition, we’d advise you to take this information with a grain of salt. While we’ve tried to remain as objective as possible, the decision of where to relocate as an expat is one that can only be made through your own careful consideration.
Articles and comparisons are helpful, but there’s just no substitute for seeing a destination with your own two eyes and exploring it with your own two feet. If one, or both, of these countries is on your short list, book a trip to check it out for yourself. A trip to the Latin tropics is sure to prove a delight for all the senses.
Map of Ecuador
Ecuador Fast Facts
- Population: About 15.49 million
- Typical temperature: Ecuador is known for its micro climates, learn more here.
- Major airports with U.S. flights: Quito, Cuenca and Guayaquil. Complete list of airports in Ecuador.
- Nearest U.S. consulate: Quito and Guayaquil
Map of Nicaragua
Nicaragua Fast Facts
- Population: About 5.99 million
- Typical temperature: There are three temperature zones in Nicaragua. In the lowlands (Pacific and Atlantic coast) temperatures vary roughly between 72° F at night and 86° F at daytime (22° C – 30° C). Temperature can reach 100° F in May (38° C). The central part of the country is about 9° F (5° C) cooler, and in the mountains in the north it’s about 18° F (10° C) cooler.
- Nearest airport with U.S. flights: Managua
- Nearest U.S. consulate: Managua