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Ecuador Articles, Research, & Resource Guides

If you’re here to learn about Ecuador, you’ve found the right place! We’ve written dozens of articles and guides about investing and living in Ecuador.

Whether you’re interested in learning about the different cities in Ecuador, residency or investment laws, we’ve got you covered. There isn’t much about Ecuador that you won’t find here.

Recent Ecuador Articles

Ecuador Real Estate

If you’re looking for property in Ecuador to buy or rent, head over to our Ecuador Real Estate page.

Expats thinking outside the box means finding destinations that can offer a combination of adventure and the challenge of living in a different environment. The Latin Tropics have a number of locations that can offer both an adventurous lifestyle and the opportunity to step outside your comfort zone.

The list below contains locations that range from rustic, provincial places, where you can immerse yourself in a new culture, to regions where high adrenaline activities are the theme of the day. These unique spots are not just for visiting but, for those who dare to try something different, places where even the most adventurous expats can find long-term fulfillment.

Locales for Expats Thinking Outside the Box

The list below is by no means exhaustive. However, these destinations are great examples of places where you can find more than just your run-of-the-mill expat hotspot.

expats thinking outside the box

VivaTropical

Boca Chica Island, Panama

For those looking to escape from the 24/2/7/365 rush of modern urban communities, Boca Chica, Panama is the perfect getaway. This 400-acre private island, just a mile off the Panamanian coast and six miles from the town of the same name, combines natural beauty, world-class sport fishing, snorkeling and diving, and tremendous investment potential.

Boca Chica’s close proximity to Enrique Malek International Airport in David makes it easy to access this lush tropical oasis.  Once experienced, it is easy to see that Boca Chica is a desirable place for relocation.

expats thinking outside the box

texaus1

Crucita, Ecuador

Adrenaline junkies who are looking for a place that combines high energy sports with the ambiance of a small tropical fishing village will find that rare blend in Crucita, Ecuador. This beachside town has become known as a premier destination for paragliding and hang gliding with stretches of open beaches, constant Pacific breezes, and a number of businesses that cater to “gliders.”

Given the small population (12,000) and rustic beach lifestyle, Crucita may be the ideal spot for adventurers who are looking for the magic of that “endless summer” without the tourist-centric atmosphere that many beach towns have. More than just a place to visit and play, Crucita has potential for investment while maintaining the irresistible draw of being a location where high-flyers can spread their wings.

santa teresa costa rica

Zanzabar Photography

Santa Teresa/Mal Pais, Costa Rica

Nestled on the southern tip of Costa Rica’s Nicoya peninsula, Santa Teresa (and the surrounding region of Mal Pais) has become a haven for those expats seeking a life less cluttered. The region around Santa Teresa has become a go-to spot for surfers from all over the world seeking to find that perfect wave without the over-development that marks so many beach communities in the region. Surf camps and shops are plentiful; there are even two surf camps – Chica Surf Adventures and Pura Vida Adventures – that are for women only.

The perfect balance to the high-energy world of surfing, the region has also become home to a growing number of yoga retreats and alternative health spas. Close proximity to the first national park in Costa Rica, Cabo Blanco Absolute Nature Reserve and Curu Wildlife Refuge, provides special opportunities to experience a wealth of biodiversity.

Needless to say, this symbiotic merging of meditation, natural wonders, and adrenaline sports has made the Mal Pais region a popular place to visit and play. While there is an increasing push to develop more contemporary living in Santa Teresa, it is still possible to live there and immerse yourself in the eclectic ambiance of rustic small villages where the spirit of “pura vida” remains alive and well.

expats thinking outside the box

Paul Krawczuk

Galapagos Islands, Ecuador

Nature lovers could ask for no better place to live than the Galapagos Islands, off the coast of Ecuador. While the Galapagos archipelago is made up of 19 islands, only five are inhabited: Baltra, Floreana, Isabela, San Cristobal, and Santa Cruz. The largest city, Puerto Ayora, home to about 10,000 people, is located on Santa Cruz.

Long admired as one of the premier destinations for wildlife viewing, this group of islands is home to various types of plants and animals found nowhere else on Earth. The few villages and towns scattered throughout the archipelago are rustic settlements that are reminiscent of an earlier, less complicated time.

Living in a location that is unsullied by modern construction, surrounded by a unique and biodiverse environment, seeped in historical relevance, is what a move to the Galapagos Islands promises. More than just a place to visit, these islands can be a retreat from the modern world like no other place on Earth.

expats thinking outside the box

Luis Penados

Lake Atitlán, Guatemala

Labeled by such figures as Aldous Huxley and Alexander Von as being the most beautiful lake in the world, the highlands area of Lake Atitlán, Guatemala has become a favorite for expats looking for a unique destination off the beaten path. Located in the Sierra Madre de Chiapas mountain range, the Lake Atitlán area has a cooler, less tropical climate that may appeal to expats who find the heat along the coast less inviting.

The nine villages that surround the lake offer both a rustic lifestyle and a chance to become immersed in the local Mayan culture like nowhere else in the region. Being able to see and experience Mayan culture, not just as a tourist presentation, but as a way of daily life, is a profound experience that cannot be had in many places in the world.

Less developed than other parts of Guatemala, this region holds great investment potential for those who are intrepid enough to create their own version of a Latin Tropics escape. Balancing growth while maintaining the special cultural vibe of the region is a focus of the area’s residents, and it shows.

expats thinking outside the box

Bernard Dupont

Sanctuary Belize, Belize

Nestled between Mexico and Guatemala, the tiny country of Belize melds a unique blend of eco-lifestyles, adventures on land and sea, and Mayan ruins. Formally known as British Honduras, Belize is unique in that it is the only Latin Tropic country where English is the official language.

Belize offers a diverse selection of things to see, do and experience. Numerous Mayan ruins await those who wish to see the remnants of this amazing culture up close and personal. For those looking for aquatic adventures, the Belize Barrier Reef is the longest barrier reef in the Western Hemisphere and second-largest in the world behind Australia’s Great Barrier Reef.

Sanctuary Belize has become a unique experiment combining eco-tourism and a “green” lifestyle on its 14,000 acre location. Having the opportunity to live green in the tropics while enjoying the natural beauty of Belize is certainly an exciting option for expats looking for something more than just an oceanfront existence.

Dare to Think Outside the Box

One of the best parts of the expat experience is discovering new vistas and new ways of living that can take you beyond the life you had before. Visiting these locations (or others that peak your interest) can be the first step to leaving your comfort zone to find your own road less traveled.

The country of Ecuador has many cultural and natural features that make it an attractive location for those seeking an alternative to more traditional tropic destinations. You may already know a few.

For example, this increasingly popular expat haven is known for its biodiversity, its affordability, and its rich culture. It also enjoys a sense of familiarity due to the established expat population.

However, as you continue to explore and get to know this unique expat hub, you may discover a few facts that will surprise you. Here are a few that make it stand out from the rest.

things about Ecuador

Rinaldo Wurglitsch

1. It’s the world’s most “far out” place.

Ecuador is actually closer to outer space than any other country on Earth. The reason? Mt. Chimborazo (Ecuador’s highest peak) is located on the equatorial bulge.

As a result, the summit of this mountain is the farthest point on the entire planet from the Earth’s core. Put another way, it is the point on Earth closest to space.

2. The Darwin Award goes to…

Ecuador is home to the Galapagos Islands, which were the location and inspiration of Charles Darwin’s research. Ecuador is viewed as one of 17 “megadiverse” countries on the planet and is widely considered as the most biodiverse country, per square kilometer, anywhere.

3. Even its name is special.

The name “Ecuador” itself is unique. While it is well known that the equator runs through the country, a lesser known fact is that Ecuador is the only country on Earth named after a geographical feature. The formal name of the country is República del Ecuador, the “country of the Equator.”

4. It offers a lot of bang for your literal buck.

Since 2000, Ecuador has used the U.S. dollar as its national currency. As a potential expat or investor, this means not having to deal with currency conversion rates and international fees, both in your daily life as well as in commercial transactions.

Being able to purchase real estate using U.S. dollars makes buying and investing both attractive and ultimately more affordable than in other locations. The fact that there are a growing number of properties on the market makes for a wide variety of options to choose from.

things about Ecuador

Helder Ribeiro

5. Yes, we have bananas…lots of them!

The singing of the old novelty song, “Yes, we have no bananas” (from 1922) would be woefully out of place in Ecuador. This country is actually the world’s largest exporter of the popular yellow fruit, shipping an average of 43 trillion of them annually. This translates to roughly 1/3 of all bananas exported worldwide.

6. You can be in both worlds at the same time.

One of Ecuador’s top tourist attractions is Ciudad Mitad del Mundo (literally “City of the Middle of the World”) where one can stand with one foot in the Northern Hemisphere and the other in the Southern Hemisphere.

Thanks to more modern technology, scientists have discovered that the true equatorial line is some 240 meters north of the popular monument and marker. However, the historic landmark is considered close enough for the many tourists who visit this location each year.

7. Nature has its own rights!

In 2008, Ecuador took an unprecedented step in declaring that nature had constitutional rights. Stating that it had the “right to exist, persist….and regenerate its vital cycles,” the Ecuadorian government declared that nature should not be treated as property.

This singular acknowledgement is, perhaps, one of the most forward-thinking statements about the environment you’ll find anywhere.

things about Ecuador

flowcomm

8. We’re the ones who really started the trend.

The familiar white straw and black hatband of the “Panama hat” has become a ubiquitous fixture throughout the Latin Tropics. Yet the many visitors to the region who purchase one of these signature hats might be surprised to discover that they didn’t actually get their start in Panama.

Originally from the coast of Ecuador, near the town of Cuenca, these hats were made for the workers who constructed the Panama Canal. Later, this headgear became a symbol of largesse of wealthy tourists who could afford to sail through the Canal. Today they’re still a popular souvenir choice of visitors to the region.

9. Expats are more than welcome.

It may come as a surprise that Ecuador is gaining popularity among expats as a preferred tropical destination. According to the annual survey done by InterNations.org, Ecuador has ranked as the number 1 choice among expats for the last two years.

From personal finance, quality of life, cost of living, and a number of other reasons, Ecuador has been consistently given the highest rating, rising above even other longtime favorite destinations in the Latin Tropics.

Discover Other Special Things About Ecuador

Perhaps the best way to discover what is special about Ecuador is to visit and explore it firsthand. You may just find that Ecuador is the unique tropical destination you’ve been looking for.

There are a number of destinations that can be included in a list of the healthiest places in the Latin Tropics. The abundance of fresh foods, a more relaxed pace of daily living, and the tropical climate are just some of the features that have made the region a long-time favorite destination for retirees and other expats looking for a better quality of life.

This compelling combination has dramatically increased the interest of U.S. residents in finding alternative approaches to their current living arrangements. It is not just the locations themselves, but the qualities and opportunities that can be found there, that promise an overall healthier lifestyle – both on the physical and the emotional levels.

What Makes the Healthiest Places in the Latin Tropics Special

There are a number of qualities that the healthiest places in the Latin Tropics all seem to share. Below is a list of these factors that contribute to the wellbeing of locals and expats alike.

Fresh Fruits and Vegetables

Finding fresh produce in the tropics can be as easy as taking a short walk or drive to one of the countless roadside stands or weekly farmers’ markets that are a fixture of life in these countries.  The wide variety of locally grown products is not only less expensive but makes it far more convenient to prepare meals from scratch – leading to another element that makes life in the tropics a healthy alternative: diet.

healthiest places in the latin tropics

Geoff Baker

Healthier Diets

There is certainly a much smaller emphasis on pre-packaged or “fast” food in the Latin Tropics. As a result, more meals are prepared fresh, instead of out of a container or microwavable box.

Additionally, there is not as much emphasis on red meat in the region, the preferred protein sources being poultry or fish. These kinds of diets have been shown to be healthier in terms of reducing fat and cholesterol.

Better Climate

Having more sunlight, warmer temperatures and less extremes in climate (i.e., winter cold to summer heat in a short period) has shown to be more conducive to better health. Aside from the physical benefits of Vitamin D, the abundance of sunlight also helps combat Seasonal Affective Disorder.

Appropriately abbreviated as SAD, this type of depression brought on during the shorter periods of daylight during the winter months impacts roughly three million adults yearly. Given that daylight hours only vary about fifteen minutes during the seasons, life under the tropical sun is emotionally healthy as well as physically healthy.

Less Stressful Pace of Living

If there is one thing that is the hallmark of the Latin Tropics, it is the slower, more relaxed pace of life.  The stress of facing crowded streets, time clocks, and the omnipresent “noise” of the 24/7/365 connected world is replaced by the far more tranquil natural rhythms of the ocean, tropical rain forests, and small villages.

While the slower pace of getting things done (such as repairs or building projects) can take some getting used to, the physical benefits are worth the extra time spent.  It can truly be said that, in terms of daily living, you do without doing and it all gets done.

More Active Lifestyle

One of the most important features that all these locations share is a more active physical lifestyle. Warm weather is more conducive to outdoor activities that can range from merely walking to more strenuous forms such as swimming, surfing, and other sports.

The Top Five Healthiest Places in the Latin Tropics

Here is a list of the top five healthiest places in the Latin Tropics. While each one has its own unique characteristics, they all share qualities that make them desirable of destinations for those seeking to find their own personal “fountain of youth.”

healthiest places in the latin tropics

Wikipedia

5. Volcán/Boquete, Panama

Located in the Chiriquí province of Panama, the Volcán/Boquete area boasts access to an abundance of fresh produce, herbs, and coffee and is known as the “breadbasket of Panama.” The moderate temperatures, low humidity (thanks to being 4000 feet above sea level), and a tranquil sense of wellbeing, all contribute to a more active lifestyle.

The region also can claim longer life spans for its residents than the rest of Panama. Boquete has been singled out by AARP magazine as one of the top places to retire in the entire world.

4. Playa Gigante, Nicaragua

This rustic fishing village on the Pacific coast of Nicaragua is rapidly becoming a mecca for a growing number of alternative health and yoga spas. With a very laid-back lifestyle, ready access to fresh fish and produce, and natural beauty of one of the country’s ecological centers, healthy living in Playa Gigante comes easily.

healthiest places in the latin tropics

Jon Hurd

3. Lake Atitlán, Guatemala

Aside from its breathtaking vistas, Lake Atitlán, Guatemala is becoming recognized as a place for retirees seeking a healthier lifestyle. With some of the best weather anywhere, the rich Mayan culture (still very much in existence), abundant fresh produce, and a variety of outdoor activities to enjoy, Lake Atitlán’s popularity as both a tourist destination and a retirement location continues to grow.

healthiest places in the latin tropics

Presidencia de la República del Ecuador

2. Vilcabamba, Ecuador

It may come as a surprise to many that Vilcabamba, Ecuador is included in this list. Located in what is has become known as the “Valley of Longevity,” local residents claim to reach life expectancies well past 100 years.

While there is no hard evidence to support this claim, the mild climate, abundant fresh air (no pollution), low animal fat diets, and active lifestyle certainly are positive factors for healthier living. The natural beauty and relaxed pace of life in the valley also contribute to the growth of Vilcabamba as a top retirement destination.

healthiest places in the latin tropics

Carlos Adampol Galindo

1. Nicoya Peninsula/Nosara, Costa Rica

Featured in the book, The Blue Zones, the Nicoya Peninsula – and Nosara in particular – has become the best known of top healthy places in the Latin Tropics. The ready access to fresh produce and seafood combined with a more relaxed outdoor lifestyle has created an environment where longer life spans are the rule, not the exception.

Healthier diets and more physical activity seem to be only part of Nosara’s secret. The growing number of alternative therapies, such as meditation and yoga, create an atmosphere where life can be embraced as opposed to just being lived.

Finding That Longer, Healthier Life Path in Paradise

Visiting the locations mentioned above (or others in the region) could be the first step to discovering what the healthiest places in the Latin Tropics could offer as a lifestyle choice. Learning where and what resonates with you is a great place to begin your quest for a healthier, happier existence.

The beaches of Ecuador are some of the best kept secrets in the Latin Tropics. These oceanside destinations are rapidly gaining the attention of expats looking for a life filled with sun, sand, and water as well as foreign investors who are recognizing the potential for strong returns on investment in these communities.

Sprinkled along Ecuador’s Emerald Coast, each of these locations has a unique character that ranges from vibrant party and surfing towns to more sedate, higher end resort communities. The five locations listed below can truly be said to be the gems of Esmeralda.

What Makes Ecuador Beaches Special?

What makes the top beaches of Ecuador special is the fact that they aren’t as well known as other beach communities in the Latin Tropics. In a real sense, expats have the opportunity to explore and discover new and exciting locations that they may not have been previously aware of.

What follows, in no particular order, is a list of the best of these seaside destinations.

Beaches Of Ecuador

Rinaldo Wurglitsch

Salinas/La Libertad/Ballenita

Perhaps the best known beach town in Ecuador, Salinas offers the high-rise modern lifestyle that many expats enjoy. The combination of modern amenities, combined with a wide variety of outdoor activities, and great weather, have made Salinas the “go-to” spot for foreigners and expats alike.

Whale watching, surfing, parasailing, and even skydiving as well as a vibrant nightlife are just some of the many activities that Salinas offers. For those seeking more tranquil alternatives, the nearby thermal baths and spas are a powerful draw.

For those looking for something a little less crowded, nearby Libertad is a commercial hub that is working to build up its beachfront as well as the pier areas to make it more attractive. For those looking for single family homes, the quiet community of Ballenita has some outstanding bargains for ownership and/or investment.

Beaches Of Ecuador

Jorge Luis Perez

Olón/Montañita

Montañita has long had the reputation for being the most lively beach town in Ecuador. Native Ecuadorians travel here to enjoy the surf and the party atmosphere – particularly during high season (January to April).

The nearby community of Olón has a growing expat population and is far more serene than its more boisterous neighbor. With stunning beach vistas all its own,  living in Olón offers the best of both worlds–a quiet home close to a bustling and energetic entertainment center.

Beaches Of Ecuador

Canoa/Bahía de Caráquez

Two of the most up and coming beach towns in Ecuador are Canoa and Bahia de Caráquez. Canoa is a small village favored by surfers and backpackers but rapidly expanding into a more dynamic tourist and expat destination.

Bahia, just a short distance away, has grown into a mecca for expats looking for high-rise living. Being located on a peninsula between the Rio Chrone and the Pacific Ocean, Bahia has also become a favorite port-of-call for world-class yachtsmen (and women) from around the globe.

This dynamic combination promises to increase property values and development. The modern infrastructure makes it especially attractive to retirees and investors desiring tropical charm with the promise of a good return on initial outlay of investment funds.

Beaches Of Ecuador

Ronald Saunders

Crucita

Crucita has been favorably compared to Jaco, Costa Rica. Like Jaco, Crucita first gained attention as a destination for adrenaline junkies – in this case paragliding and hang gliding, while Jaco focused on surfing.

This has lead to a growing expat community and a continually improving and developing infrastructure. Crucita’s location, close to both Manta and Portoviejo, makes it an ideal spot to access the benefits of major urban centers while still be removed from the more frantic pace of those cities.

While Crucita continues to grow, it still retains much of its small, fishing village vibe. This quality is what is luring many retirees and expats who want a quieter pace but still within easy distance of larger expat communities.

Beaches Of Ecuador

Mompiche

At the opposite end of the scale from high-energy locations like Montañita and Salinas, is the quiet fishing village of Mompiche. It is the most rustic place on the list and is a perfect destination for those looking to disconnect from the 24/7/365 world and just enjoy the tranquility of living by the ocean.

Owning a Part of the Top Hidden Beaches of Ecuador

The allure of these Ecuadorian destinations has increased the interest level of those seeking a tropical destination close to the ocean. The real estate market, while still feeling effects of the 2008 recession, has a number of real jewels that can be had for a surprising affordable price.

A prime example of what you can find in these ocean side communities is this new 2 bedroom, 2 bath house overlooking the ocean for $85,000. Located in Ballenita, it could be the perfect seaside retreat or investment property in a growing area.

Some Beach, Somewhere

As can be seen from the above list, the top beaches of Ecuador provide a range of opportunities from rustic to high-end modern. Exploring them for yourself is the best way to find the sun and sand location that is right for you.

ecuador-star-01

Jesse Bayer

The History

Measured by nearly any economic or social metric, Ecuador enjoyed a sustained boom between 2000-2014.

However this was a relatively new phenomenon for the small South American country. With the approximate landmass of Colorado and a population of just over 16M, Ecuador has experienced tremendous change over the last 30+ years.

As a result of popular revolts against government corruption and mismanagement, Ecuador saw seven different Presidents take office between 1992 and 2007 – there was even a brief time in 1997 where three different individuals claimed to be president of the country simultaneously!

Dollarization following the collapse of the Sucre in 2000 marked the beginning of stability and greater prosperity.

According to The World Bank, GDP rose from $18.3B in 2000 to over $100B in 2014 with the poverty rate dropping from 64.4% to 22.5% over the same period. Population growth, life expectancy and crime rates saw similar positive trends.

For those who understand the mechanics of money creation and that asset prices are inextricably levered to The Money Supply, it will come as no surprise that according to tradingeconomics.com, Ecuador’s M2 Money Supply also increased – from $11.79B in 2007 to approximately $40B in 2015.

According to the same source, consumer credit expanded at a similar rate, rising from $4.9B in 2007 to approximately $16.5B at the end of 2014.

This boom, partly fueled by the increase in money supply and a credit expansion, also coincided with, and was driven by, several larger trends taking place at the national level.

With Rafael Correa’s election in 2007, corruption began to decline and government spending, largely on infrastructure, began to increase.

According to Trading Economics, government spending increased from approximately $368M in 2000 to $2.5B in 2015.

This meant that ports, airports, roads, healthcare, drinking water, sewers, electricity, education, police, and fire were brought up to international standards.

According to a recent survey, conducted by the InterAmerican Federation of Construction Industries as part of the Global Competitiveness Report for 2014-2015, Ecuador ranks fourth in quality of infrastructure in Latin America.

Much of this expenditure was funded by oil revenue. Starting in early 2004, oil prices began to steadily rise, giving OPEC member Ecuador a steady source of capital to finance spending. Oil revenue accounted for as much as 40% of all Government revenue during the strong run for oil prices between Q1 2004 and Q4 2014.

ecuador-star-02

Jesse Bayer

Where Things Stand Today

A confluence of challenging economic factors hit Ecuador towards the beginning of 2015 that have affected the country greatly and play a big role in the country’s outlook going forward.

Oil prices began to plunge beginning in June/July 2014 and, while they’ve bounced off their lows, have yet to recover to post-2004 levels.

In addition, a strengthening dollar has hurt exports.

At the same time, early 2015 marked the end of a credit and construction cycle – credit began to tighten and construction slowed.

These factors led to budget cuts and a soft job market.

To make matters worse, President Correa in May 2014 announced plans to increase the capital gains and inheritance taxes to levels that caused some amount of capital flight. The proposals have yet to be enacted and it is unclear if they will, but the damage was done.

As a result of these factors, GDP was essentially flat in 2015 and is expected to be negative in 2016.

The government’s response to these headwinds has been to raise taxes and seek external sources of funding in the form of debt.

Rising tax revenue, along with recent loans from the IMF and China have served to cover budget shortfalls for now, but with the state continuing to grow and the environment becoming more difficult for the private sector, barring a significant rise in oil prices these are not sustainable solutions.

ecuador-star-03

Jesse Bayer

What Does It All Mean?

Ecuador is an amazing country. The climate, variety and natural beauty of the landscape, amazing people, low cost of living, great infrastructure, and the quality of life attainable here are second to none.

As a place to live, it’s hard to beat.

Having relocated from New York City over three years ago, purchasing land, starting a project, and launching a business I couldn’t be happier with my decision.

However, as an entrepreneur/investor evaluating Ecuador, one must consider the pros and cons.

On the positive side there is tremendous opportunity. With only a decade plus of political and economic stability, Ecuador is a relatively new market. Many goods and services that would have significant demand have not yet been brought to market.

Tourism is seeing amazing growth. According to World Bank statistics, Ecuador saw 511,000 tourists visit in 1998. That number rose to 968,000 by 2009 and 1,557,000 in 2014.

In addition foreigners are moving here to live in increasing numbers. Ecuador consistently shows up at the top of publications ranking the best places to retire. While foreigners have settled in places like Cuenca, Banos, Cotacachi, Vilcabamba, Quito and several others on the coast like Manta and Montanita for several years, the rest of the country largely still has yet to be discovered internationally.

From this perspective, Ecuador is in the sweet spot – being a relatively new market, with incredibly attractive attributes such as a varied and amazing climate, great infrastructure, political/social stability, excellent safety, abundant natural resources with excellent tourist/expat growth –offering the right mix for successful investing.

The other side of the coin is the business climate. Current President Rafael Correa considers himself a socialist. He has taken a considerably anti-business, anti-wealth stance as born out by his tax and regulatory policy.

The World Economic Forums Global Competitive Index for 2015-2016 ranks Ecuador 76th out of 140 Nations and 9th in Latin America.

Steep import taxes, a 14% Value Added Tax, inheritance taxes, a 22% corporate tax rate, 35% personal income tax, and a myriad of burdensome rules and regulations have made it more difficult to succeed as an entrepreneur/investor.

Asset prices have of course been affected by the economic situation. Capital has become scarce.

This is an interesting development for real estate as Ecuador, in addition to being such an attractive place to settle, is home to some of the most fertile and resource rich land in the world.

As real estate prices have begun to decline, an already comparatively inexpensive asset has become cheaper.

In addition, investment opportunities for those with capital are more plentiful with potentially better returns as business owners and entrepreneurs have to turn to private financing.

With national elections coming up in 2017, it is unclear what direction Ecuador will take.

With another decade of rule ideologically aligned with that of Rafael Correa, a future like that of Venezuela is not impossible to imagine. However, with a little less spending/borrowing and less controls on business it’s easy to see how Ecuador could capitalize on its amazing potential and insert itself into the conversation as one of the best opportunities in the world.

This article was written by Jesse Bayer. Jesse sold his real estate holdings in New York City and left for Ecuador with his family and business partner in July 2013. Since then Jesse has begun a large-scale development project and co-founded Abundant Living Ecuador, a real estate and relocation services firm based out of Loja.  You can contact Jesse on our contact form.

As more and more retirees and young expats make their way to the Latin tropics, many cities are stepping up their game to meet the demands of this new demographic. And, as infrastructure and amenities continue to improve in many tropical cities, the cost of living is increasing at rapid rates in many locations.

Since a major consideration of making the move abroad is budget and lifestyle, it’s important that you know some of the most expensive cities in the Latin tropics and what they offer. Only then can you decide if they’re truly worth the sometimes high cost of living in paradise.

It’s important, though, to keep in mind that the cost of living in a particular area is often indicative of the level of services and amenities it offers. So, when evaluating tropical destinations and their associated costs, make sure you take the whole picture into consideration…not just the dollars and cents.

4 most expensive cities in the tropics

Rita Willaert

The Rising Cost of Paradise

Just as is the case with any other financial market, the increased demand for expat-friendly locations in the tropics has resulted in higher costs. Rising property values, infrastructure improvements, and the desire for more amenities “just like back home” have all combined to create larger price tags for life abroad.

Below are the four most expensive cities for expat living in all the countries we cover.  The continued popularity of each of these destinations demonstrates the correlation between desirability and willingness to pay for the value-added features that each location contains.

4 most expensive cities in the tropics

Arron and Carol

San Jose, Costa Rica

Topping our list of the four most expensive cities in the Latin tropics is San Jose, Costa Rica. As the third most expensive city in the entire region (surpassed only by San Juan, Puerto Rico and Grand Cayman, Cayman Islands), the continued popularity of this Central American destination has resulted in higher prices, including the cost of Costa Rica real estate.

A dynamic, modern, and stable infrastructure, readily accessible “western style” amenities, such as shopping malls, internet access, cable TV, and a close proximity to major North American cities all translate into value-added features for this highly coveted expat destination. However, these desirable features do come with a higher price tag that should be taken into consideration as part of your plan for relocation.

4 most expensive cities in the tropics

Bernal Saborio

Panama City, Panama

Close behind San Jose, on the list of the four most expensive cities in the tropics, is Panama City, Panama. According to an annual survey by Mercer Human Resource Consulting, from 2014 to 2015 Panama City’s cost of living has climbed 41 positions among all international locations surveyed and four spots in Latin America alone.

The continued expansion of new commercial investment and the accompanying improvements in infrastructure have resulted in increased housing prices and a growing demand for American style homes. Since that demand is outpacing the inventory, it’s far from being a buyer’s market.

4 most expensive cities in the tropics

Nan Palmero

Tegucigalpa, Honduras

It may come as a surprise to many that Tegucigalpa, Honduras has become one of the most expensive cities in Latin America in which to live. The upswing in foreign investment since the early 2000s has brought with it the cost of improving the infrastructure of the city to meet the demands of the 21st century.

While not as popular as…say, the island of Roatan, Tegucigalpa still offers high level of amenities at a price point that is less than some of the more popular tropical destinations. It can be anticipated that as growth continues, prices will stay on the rise as well.

4 most expensive cities in the tropics

Roman Korzh

Quito, Ecuador

Last but not least on this list is Quito, Ecuador. This capital city’s popularity with expats and retirees has led to a steady increase in the cost of living. With this price hike comes a wide variety of housing options and many other big city amenities expats have come to expect.

Not everything costs more in Quito, though. Although it’s ranked as the 13th most expensive of Latin American cities, its prices for gas and public transportation are still far less than any of its neighbors.

The Bottom Line: Is It Worth It?

For potential expats, the cost to live in a particular city should certainly play a role in the decision-making process. However, it shouldn’t be the starring one. Other factors to consider include location, amenities, climate, and whether it offers the kind of lifestyle you’re seeking.

In the end, only you can decide whether these and other tropical destinations offer sufficient bang for your buck. If you have cities you’re considering, spend some time there to see if the expat experience they offer lives up to the price point they demand. Only then can you make the move knowing you’ll never regret the decision you made.

When people think about U.S. citizens living abroad what comes to mind is probably retirees, or the super wealthy, or maybe even a bunch of backpacking college students. People who don’t have to worry about things like maintaining a job or finding a good orthodontist.

What seems like a bit more of a stretch, to many, is the idea of moving overseas with children, particularly young ones, and having the need to educate, protect, and support them. But the reality is that living abroad, even in a developing country, has never been easier for young families.

The Latin tropics, for example, offer a ton of locales where parents can earn a living for their families, send their kids to a bilingual international school, sign them up for afterschool art and sports programs, and never have to give a second thought about their safety.

Improved technology and infrastructure make things like telecommuting, homeschooling, and communicating with friends and family a virtual breeze. Cities with established expat communities can help to make the transition easier.

On the flip side, there are also more remote destinations that offer the opportunity to cut out all the distractions and focus on what really matters to your family. Where your children can learn to become students of the world, rather than spending their days cooped up in a classroom.

In fact, it’s been observed that living abroad helps children develop a certain skillset and adaptability that their homebound counterparts lack, making them particularly qualified for leadership positions.

Every tropical destination has its own set of pros and cons. Not every young family will share the same opinion about a certain city. But there’s no denying that each of these places has a unique appeal that families with children will likely find intriguing.

Jose Juaquin

Jose Juaquin

Best City for Culture – Cuenca, Ecuador

A longtime favorite of expats of all demographics, Cuenca, Ecuador, is still a fantastic option for families with children. It offers an established expat community with lots of English-speakers, as well as expats of many other nationalities.

Cuenca has a high level of amenities, with easy access to all the necessary goods and services. Yet it’s also surrounding by an incredible natural environment that offers plenty of options for outdoor enthusiasts.

For all it delivers, Cuenca is also quite affordable. It’s big city convenience with a small town feel, right down to the cobblestone streets and charming historic architecture.

Because it’s home to a number of universities, residents of Cuenca also place a high value on education. The high concentration of students also makes Cuenca a cultural and artistic hub. It’s a great place to get a true taste of what makes the local culture so incredible.

TR Rounts

TR Rounts

Best Expat Community – Boquete, Panama

Another destination that’s popular with young expat families is Boquete, Panama. Tucked into the highlands of the Chiriqui province, Boquete is smaller than Cuenca (and quite a bit more expensive). Yet it too offers an incredible level of services and amenities.

A longstanding expat presence has led to the establishment of everything from “Gringo Night” at local restaurants all the way up to an expat theatre group. In fact, Boquete is so expat-friendly that some complain it’s almost just like being in North America.

But understand that, even though Boquete might be full of people who look and talk like you, there’s still plenty of authentic culture to experience. Not to mention the incredible natural surroundings like cloud forests, whitewater rapids, and an abundance of flora and fauna.

Between its near-perfect climate and its welcoming residents, Boquete is a great option for newcomers with children.

Cranston

Cranston

Best Beach Town – Nosara, Costa Rica

Those who think all tropical beach towns are way too heavy on the party scene for young families need to think again. Introducing…Nosara, Costa Rica.

Rather than loud dance clubs and dreadlocked drug peddlers, what you’ll find in Nosara is more like yoga studios and organic smoothie stands. It has great surfing, some of the best in Costa Rica, but it also has great schools. It’s a win-win for young families.

The abundance of health food stores, fitness centers, and sports teams make Nosara the perfect place for those looking to lead a healthy lifestyle. However, all the excellent consumer options and extra-curricular activities do tend to tip Nosara a bit towards the expensive end of the spectrum.

Nosara is clean. It’s safe. Its residents are a closely knit community, and they flock to the beach in droves each evening, just to see the sunset. Its four miles of white sand beaches are protected from any kind of encroaching development, and the many conservation efforts help keep it pristine.

Young families looking for the beach lifestyle without the stereotypical beach culture should definitely give this place a closer look.

boca chica panama

Viva Tropical

Best Island – Boca Chica, Panama

If island living is the scenario you had in mind for your family, then forget the overcrowded, touristy places like Roatan or the Belize Cayes. There’s nothing authentic about seeing a cruise ship dump its hordes of travelers onto your shores for a quick romp.

Instead, may I suggest the tranquil forests of Boca Chica Island, where the only other residents you’ll likely see and hear are the howler monkeys and toucans perched just outside your window?

Boca Chica and its surrounding islands offer the same natural wonders as their busier counterparts (e.g. pristine beaches, ancient forests, excellent fishing, and mangroves packed with marine life). But in Boca Chica those can be explored on your own, not on a chartered tour with a dozen other strangers.

Although it feels remote, Boca Chica Island is only a 10 minute boat ride from the mainland where you can also access attractions such as Volcan Baru (the nation’s highest peak), the aforementioned town of Boquete, and the bustling city of David (the country’s second largest) where you can find any and all of the amenities you could possibly need.

photo by P. Schenll

photo by P. Schenll

Best on a Budget – Granada, Nicaragua

While affordability shouldn’t be your biggest factor when choosing an expat destination, for some young families it’s a necessary concern. Enter Granada, Nicaragua.

This charming colonial town boasts many of the same features as Cuenca. Yet with a noticeably lower price tag.

The tradeoff is that some of the amenities aren’t quite as good. Consumer options are a bit more limited. The infrastructure isn’t as top-notch. In fact, some may even see Granada as a little gritty.

But that authentic vibe is exactly what a lot of parents want their children to experience. The ability to take in your surroundings and feel almost as if you’ve stepped back in time 100 years. Except for the internet cafes and ATM machines.

All in all, Granada is a great compromise for those who want to experience Latin America for what it is, not a North American version of it. And not for the same amount you’d pay to live in the States.

So, if you’re looking for a place to relocate your family, or even if you just want to try a gap year to see if this whole expat thing is right for you, these top destinations are a great place to start!

Crucita, Ecuador has the reputation as one of the top spots in the world for paragliding and hang gliding. The pristine beaches and largely undeveloped area are rapidly become a magnet for expats and investors seeking that unique blend of adventure and potential.

Crucita Ecuador

Corinne

Crucita, Ecuador – From Fishing Village to Adrenaline Central

The area known today as Crucita, Ecuador is an attractive beachfront town in Manabi Province of Ecuador. Located 40 km (25 miles) from the port city of Manta and 28 km (17 miles) from the province capital of Portoviejo, Crucita has become the most visited beach destination in Ecuador.

Crucita, Ecuador’s Beginnings

The Pacific coast in and around Crucita, Ecuador has been occupied since pre-Columbian times by the ancient Manta people. In 1895, the Bishop of Manabi, Peter Schumacher, erected a cross at the local church as part of the celebration of the month of the Virgin Mary (May) and the Holy Cross. From that point on, the location has been known as “Crucita” (little cross).

On May 25, 1978, Crucita Portoviejo was designated as an urban parish. Although small (current population is around 12,000), Crucita will continue to expand as sports enthusiasts, expats, and investors are drawn by the opportunities in real estate that await there.

Crucita – Adrenaline Central

Paragliding and hang gliding enthusiasts have discovered that Crucita, Ecuador has near-perfect conditions for these extreme sports. The miles of open beaches, constant Pacific breezes, and hostels and lodges catering to “gliders” have given Crucita worldwide exposure as the place where you can truly “spread your wings”.

Crucita Ecuador

Ministry of Ecuadorian Government

Crucita, Ecuador and Jaco, Costa Rica – A Tale of Two Cities

Comparing Crucita, Ecuador and another popular Central American beach location, Jaco, Costa Rica, can provide a glimpse of the future potential that awaits there. The similarities between the two communities are striking and the pathway for growth in Crucita follows a similar arc to its more developed neighbor.

Prior to the late 1970s, Jaco was little more than a fishing village. With improvements to local infrastructure (water system 1976, highway access 1978, improved electrical system 1981), Jaco began to see a real surge in development.

At the same time as Jaco was growing, surfing enthusiasts discovered the white water and challenging waves that are a regular feature in and around the Jaco area. Before long, the region became known worldwide as a surfing mecca with weekly contests, festivals, and year-round celebrations of “the endless summer.”

Improvements in Infrastructure, Enhancement in Potential

Where Jaco became a surfing magnet, Crucita, Ecuador has become a world famous destination for the high-energy and altitude sports of paragliding and hang gliding. While both rely on wind and weather, hang gliding is the older of the two styles, (hang gliding 1960s, paragliding started in Europe in the mid-80s) uses a heavier “wing,” and can be more of a challenge to transport on air carriers.

Crucita, Ecuador is also seeing infrastructure improvement that makes living in this Pacific location much easier. The latest project is a four-lane highway from the province capital, Portoviejo, which will reduce travel time and improve access; the highway between the international port of Manta and Crucita has also been rebuilt.

The increasing interest in the area is also leading to upgrades in electricity, municipal services, and better internet and cable television. A long-term tourism project, known locally as Balsamaragua, is also expected to enhance the desirability of Crucita as a destination and investment location.

What Does It Cost to Live in Crucita, Ecuador?

One question that potential expats or investors need answered is what is the cost of living in Crucita, Ecuador? Like much of the rest of the country, the prices for such items as food, utilities, and rent is more affordable than in many Central American locations.

Averages for rent in Ecuador can run from $250 per month outside major centers to $1000 per month in larger cities such as Guayaquil and Quito. As a smaller town, Crucita’s rents are definitely in the lower end of this spectrum.

Utilities such as electricity, water, and garbage are also reasonable and can run as little as $40.89 average per month. With Crucita being on the coast, air conditioning may make for higher electricity costs.

Crucita Ecuador

Vacation ROL

Investment Possibilities in Crucita, Ecuador

Crucita, Ecuador is becoming a focal point for both expats considering a retirement option and investors seeking to maximize their returns as the number of tourists continue to grow. With a large amount of underdeveloped and undeveloped land still available, Crucita’s real estate market is poised to see true growth potential.

Importantly, Ecuador adopted the U.S. dollar as its currency in 2000. As a result, many of the issues (conversion values, fees, etc.) that are encountered elsewhere in Central America are not a concern here. Crucita, Ecuador promises to be a location where the dollar certainly can retain its full value.

The Challenges of Becoming an Expat in Crucita, Ecuador

For all the upsides that Crucita offers, the rustic beach town lifestyle may not suit everyone’s idea of a Central American retreat.  Since Crucita is a developing community, many amenities that are in found in larger cities and towns are lacking. If having a more modernized environment is important, Crucita may not be the best fit.

Though the number of expats is growing, the expat community as a whole is still small. As a result, being able to speak and understand Spanish is very important and may present a challenge to moving to this Pacific paragliding paradise.

Ironically, one of the major draws of Crucita may also be a major drawback for those looking for a quiet oceanfront home. The various festivals and competitions that bring in paraglider and hang glider participants can make for a more lively atmosphere than some expats may be looking forward to.

Crucita, Ecuador – Take the Leap of Faith

There is a wealth of opportunity that can be found on the beaches of Crucita, Ecuador. There is no substitute for making a journey to Crucita to get a true sense of whether this growing area is a place to build a Pacific future. Much like those who launch into the Crucita skies to paraglide, taking that leap of faith is the first step to finding out what the future may hold.

Map of Crucita, Ecuador

Crucita, Ecuador Fast Facts

  • Population: 10,000
  • Typical temperature: Average temperature of 75 – 80 degrees Fahrenheit
  • Major airports with U.S. flights: Mariscal Sucre Airport (Quito, Ecuador)
  • Nearest U.S. consulate: Quito

Dark, mysterious jungle paths, breathtaking volcanic vistas, heart-pounding, high-adrenaline whitewater challenges; Tena, Ecuador is truly a gateway to Amazonian adventures. This colonial jungle village, southeast of Quito, can be a doorway to the kind of journey one might only expect to see on the big screen in a big budget movie.

Tena, Ecuador

Whitewater Ride

Ecuador is a country rich in history and filled with potential for expats and visitors alike. As a starting point for exploration of the Amazon basin and the Galapagos archipelago, Ecuador offers a rich and diverse selection of things to see, do, and become immersed in.

Tena, Ecuador – A Place of Amazon History

In 1541, Gonzalo Pizzaro, half-brother of the conquistador, Francisco Pizzaro, left Quito and headed east through the Quijos Valley in search of the fabled city of El Dorado. Although the search for the golden city failed, one of Pizzaro’s second-in-command, Francisco de Orellana, continued the journey downstream and, ultimately, discovered the mighty Amazon River.

Their route would have taken the explorers through what would later be the town of Tena. Founded in November 15, 1560, Tena quickly became an important colonial trading post and a gateway to the upper Amazon and the Amazon River proper.

Jumandy and the Quijos Uprising

As Spain continued its colonial expansion, the indigenous Quijo people began a revolt. Though successful in putting down the first insurrection in July, 1560, the colonial authorities were concerned about continued unrest.

In order to try and head off future attacks, two conquistadors, Andres Contero, the lieutenant governor of the region and Captain Bartholomew Marin sought out and met the leader of the Quijos, Jumandy.

After refusing Jumandy’s request to leave the area, the Quijos attacked and destroyed the Spanish towns of Avila and Archidona during 1578-1579.  While trying to get assistance in his revolt from the Sierra tribes, Jumandy was betrayed, captured, and ultimately executed in Quito. The entry to Tena is marked by a statue of Jumandy, erected in his honor.

Tena Today

Tena has evolved from its colonial past as a key jungle trading post and point of departure for the Upper Amazon basin to the major commercial center and capital of the province of Napo. Tena’s atmosphere is still that of a small jungle community, retaining much of the rich cultural heritage and lifestyle of yesteryear.

Tena, Ecuador

Sumaco Volcano

Adventures In and Around Tena – From Mild to Wild

Surrounded by rivers with challenging rapids, dense rainforest jungles and towering volcanic peaks, it is not surprising that this former jungle outpost has become a hub for all kinds of visitors. Whether your interests run to the culture and history of the region, exploring the unique geological features and the rich biodiversity they contain, or raising your adrenaline levels with some extreme sports, Tena has it all.

Whitewater Challenge

Tena’s reputation as a great starting point for jungle kayaking and whitewater rafting has grown since hosting the 2005 World Rafting Championships. The surrounding rivers, Jatunyacu, Jondachi, Hollin, and Anzu provide what many consider the best rafting, not only in Ecuador, but the world.

The range of difficulty can run from very gentle rapids, ideal for families, to the daunting Class III+ and Class IV levels for experienced adrenaline junkies. The large number of tour operators can help visitors find the tour and difficulty level that they desire.

Volcano Hikes, Biodiversity and Caving Exploration

Soaring 12,244 feet above the Amazonian jungle, Sumaco Volcano has been called one of the most intense hiking experiences in Ecuador. The villages along Loreto Road, 30 kilometers north of Tena, are home to many guides who can help intrepid adventures navigate the challenging 5-6 day hike through jungle path and mountain trails to the summit.

The Jumandy Caves (Cuevas de Jumandy), a labyrinth of natural caves and tunnels a short bus ride from Tena, give visitors the opportunity for cave swimming and viewing the stunning underground collection of stalagmites and stalactites.  Cave diving is offered to experienced and certified divers.

The cave system is also important from a historical perspective. It was in these caves that the Quito chieftain, Jumandy, lead the women and children of his tribe in an attempt to hide from the Spanish forces during his unsuccessful rebellion.

Jatun Sacha Biological Station is the second largest conservation organization in Ecuador. Located on a dirt road just outside Tena, the station offers a number of programs and exhibits that provide an educational perspective on the unique biodiversity that exists in the upper Amazon basin.

Immerse Yourself in Amazon Culture

There are many small villages and towns in and around Tena where large numbers of the indigenous Quichua, Quijos, and Chibcha groups still live. Visiting these jungle locations may provide the opportunity to experience and participate in the preparation of chicha (a beverage made from maize that can be either fermented or non-fermented) and, possibly local shamanic rituals or ceremonies.

The area in and around Tena has a number of festivals during the year. The week of November 15th – the day Tena was founded – is marked by live music and community events throughout the city.

Archidona, a colonial town just north of Tena, has a number of festivals during the year. April is the busiest month for these celebrations: on April 21st, the Chonta Folk Festival is held and on the 27th  the Fiestas de Cantonización is observed.

Perhaps the most popular celebrations in Archicona are the beauty and cultural pageants honoring the Quichua people, their culture, language, and heritage. These events culminate in April when the “Queen of the Quichua” is chosen.

Tena Ecuador

Scott Schuette

Tena Is Also Becoming an Expat Destination

Tena combines the atmosphere of a jungle outpost with the energy and development of the commercial center and capital of Napo province. This unique combination makes Tena a desirable investment location for expats seeking something different.

With a population just over 20,000, Tena is continuing to improve its infrastructure to accommodate new arrivals and investors. The city is home to a major regional hospital, a small airport, bus terminal, and many tourist related businesses.

As one of the top industrialized communities in Ecuador, Tena’s commercial potential is vast. Continued improvements to the highway between Quito and Tena will also foster increased accessibility for expats seeking to build a new life in the jungle.

tena ecuador

Dogmunyo

Living in Tena – What to Expect

In spite of the commercial activity in the area, Tena is still, basically, a rustic community.  Expats seeking to become part of Ecuadorian and Amazonian culture will find the area in and around Tena a perfect fit with an abundance of festivals, markets and celebrations.

The cost of living is less than Guayaquil or Quito. While budget-friendly (an important consideration for many expats), the trade off is that there are fewer amenities like those found in large cities.

Similarly, real estate prices (rental and purchase) are also lower than other more-developed parts of Ecuador. Importantly, non-residents have the same property rights as native Ecuadorians and are not restricted in buying property.  Looking at property listings can provide a good picture of the potential that exists-both for developed and undeveloped parcels.

Getting There and Getting Around

Much like the explorers of the past, the journey to Tena can often be an adventure in and of itself. The main road between Quito and Tena is subject to landslides and other issues although improvements continue to be made. Regular bus service via Baeza does exist but must be reserved in advance as the buses fill quickly.

There is no commercial airport in Tena; only small private flights (usually just for a single passenger) are available. Once in town, there are local taxis that can get you from point A to point B.

There are a number of hotels in the city that are generally inexpensive. As elsewhere in Central America, the more amenities offered, the higher the nightly rate.

Tena holds the keys for those seeking to explore the mysteries and wonders of the Amazonian basin. Visiting this unique and exciting place can reawaken the explorer in everyone.

Map of Tena, Ecaudor

Tena, Ecuador Fast Facts

  • Population: About 20,000
  • Typical temperature: Mid 80’s
  • Nearest airport with U.S. flights: Quito, Ecuador
  • Nearest U.S. consulate: Quito, Ecuador

If you’re looking for an affordable place to relocate to the beach, then look no further than one of the many beaches in Ecuador. Dotting its shoreline are numerous beach communities, each with its own unique appeal.

Whether you’re looking for a relaxing retreat, the hottest up-and-coming destination, or a place you can party all night ’til the sun comes up, this list of Ecuador beaches has something for everyone.

Salinas – A South Beach Vibe in South America

Wikipedia

Wikipedia

Salinas is one of the most popular, and probably the most well known, of all of Ecuador’s beaches. Salinas is the place where many locals flock during the high season for a bit of fun in the sun and outdoor activities. Here you can surf, take whale-watching excursions, ride jetskis, paddle a sea kayak, go skydiving or hang gliding, water ski, or take a cruise on a private yacht.

Rinaldo Wurglitsch

Rinaldo Wurglitsch

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.

Olon – Restful, Relaxing, and Not Too Crowded

Johnny Chunga

Johnny Chunga

When in Olon, both travelers and expats alike take the time to bask in Ecuador’s natural beauty while experiencing the easy pace of the beachcomber’s lifestyle at this lesser known Ecuador beach.  It is no wonder that after a short stay in Olon, many visitors choose to call Ecuador home and invest in Ecuador Real Estate.

Johnny Chunga

Johnny Chunga

Despite the town’s sleepy appearance, there are actually plenty of activities to try while at  Olon Beach. Many people enjoy surfing the waves, hiking to nearby waterfalls, or just taking a dip in the cool waters.

Canoa – Waiting to Be Discovered and Enjoyed

ecuador beaches

Tripadvisor

Canoa is a relaxed, laid-back fishing village on the Pacific coast. Popular with travelers, yet not overrun by them, it’s an excellent place to chill out for a few days on the beach or even relocate to find the beachcomber’s lifestyle you seek.

TMAC

TMAC

So far, despite its growing popularity with tourists, surfers, and backpackers, Canoa remains a low-key place, where local kids play outside at dusk and fishermen head out to sea in the early hours before dawn.

Manta – Bustling and Busy

manta-ecuador-01

In Manta you’ll find all the services and amenities you’d expect from an established beach town, although it has a bit of an industrial feel. There is a well-organized expat community, but bargain properties are harder to find as the beach now draws many Ecuadorians.

Eric Hutton

Eric Hutton

While Manta may not be the exact atmosphere that many are looking for in a beach town, its accessibility and abundance of conveniences make it a very easy place to call home. As a result, many Ecuadorians and expats who choose to have a mountain home, as well as a beach home, choose to buy the latter in Manta.

Atacames – A Continual Party Vibe

Hanna Michals

Hanna Michals

Atacames is one of the best party spots in Ecuador. Though the beaches of Atacames themselves are quite beautiful, the real attraction for most visitors to this beach is the perpetual party atmosphere.

Presidencia de la República del Ecuador

Presidencia de la República del Ecuador

If the party vibe of Atacames is not your thing, you may prefer the nearby residential beach community of Tonsupa, the most popular destination for vacationers from Ecuador’s capital city of Quito.

Honorable Mention: Las Grietas of Santa Cruz Island

Christopher Griner

Christopher Griner

Las Grietas is a solitary and spectacular beach on Santa Cruz Island. If you want to see it, it’s just a few minutes’ walk once on Santa Cruz Island. While the beach is beautiful, the services there are limited. Be sure to bring a few snacks and drinks. Otherwise, pack your Kindle and hammock and pass the day in quiet beauty.

Which is your favorite beach? Leave us a comment below so we can add it to our list!

When it comes to choosing a tropical destination to call home, it’s important to know that they aren’t all created equal. It’s also important to know that just because one person or one publication loves a certain country or city, that doesn’t mean that everyone will or that YOU will.

That being said, there are a few places that stand out heads above the rest in terms of lifestyle, atmosphere, and quality of life. 

Bridget Shirvell

Bridget Shirvell

We ranked cities all across Latin America in areas such as cost of living, quality of life, and potential for real estate appreciation. And we’re dying to tell you more about the three cities that blew all the others out of the water in those and other categories.

And, while not every single person on the planet would be happy in one of these three destinations, they’re hands down the top places where most people would be happy living in the tropics.

Here they are!

best-beaches-nosara

Zhu

1. Nosara, Costa Rica

There is no place on earth quite as remarkable as Costa Rica, with its unparalleled natural beauty, friendly population, and laid-back lifestyle. Its residents are among the happiest people on the planet, and there are some obvious reasons for that.

There’s also no place in Costa Rica quite as fantastic as Nosara. It was initially established as a planned community by a North American developer. It got started on the right track and has continued to follow that original plan.

Today, it’s a tropical paradise with a first world design. There are banks, grocery stores, medical clinics, and fitness centers. Yet, due to zoning regulations, there aren’t any high-rise condos to block your view of the pristine coastline and magnificent sunsets.

The town also has numerous conservation and beautification initiatives, so it’s one of the cleanest cities you’ll find in the tropics. There’s regular trash collection, clean water, and reliable utilities.

It’s a health conscious town, and most residents regularly enjoy activities such as surfing, yoga, stand-up paddleboarding, soccer, tennis, and other sports. There are organic grocers, smoothie stands, and other healthy consumer options. There’s also plenty of nature to help rejuvenate your mind and body.

Great for Singles, Even Better for Families

Not only is Nosara a great place to live, it’s also the perfect place to raise a family abroad. There’s a large established expat community and a lot of English speakers, which makes for an easy transition. There are several bilingual schools, as well as plenty of organized sports and activities for children to enjoy.

Nosara is also an incredibly safe town. Crime is low, and there’s not much of a party scene or drug culture like you might find in other tropical beach towns. Everyone looks out for each other, and there’s a great sense of community.

While not the cheapest city to live or buy property in the tropics, Nosara offers tremendous bang for your buck. And even though it’s already a well-established town, there’s still room for appreciation and growth. As investors, we hope to be a part of where Nosara is headed.

Eric Hunt

Eric Hunt

2. Cuenca, Ecuador

You’ve probably heard a lot about Ecuador, and more specifically Cuenca, being a great place to live or retire because it’s cheap. Well, we think that’s a horrible reason on which to base such an important decision.

Yes, Ecuador enjoys a lower cost of living than many of its Latin neighbors, but there are so many better reasons to love this country and city. Here they are.

First of all, the climate is ideal. The temperature most days is in the high 60s to low 70s. It gets cooler at night, sometimes dropping into the high 40s. You only need one wardrobe for the whole year, plus a sweater or light jacket for evenings.

There’s a rainy season that runs from January to May. The rest of the year, all you’ll see is an occasional afternoon shower, perfect for a nap or some time with a good book.

Small Town Atmosphere, Big City Amenities

Also, for a fairly large city (roughly 330,000 people), it has a quaint small town feel. The colonial architecture is stunning, the people are friendly, and the carts of local farmers and craft vendors make walking the city streets a pleasant experience.

Yet despite Cuenca’s charming ambiance, there’s no shortage of big city amenities. There are internet cafes, boutiques, entertainment options, and any professional service you can think of.

What’s probably most notable about Cuenca is the incredibly diverse culture, both native and foreign. Cuenca is home to several large universities, and the zeal for learning and experiencing new things radiates through the city. There are numerous museums, free concerts, and local artists that further establish Cuenca as an important cultural hub.

Though not dirt cheap like many areas in Ecuador, Cuenca is a very affordable place to live. It has a large, growing expat community and numerous expat-friendly businesses. Health care is good. Education is emphasized. It’s a great fit for expats of pretty much any demographic.

Flickr

Flickr

3. Boquete, Panama

Panama, and especially Boquete, has been the darling of the international retirement scene for a while now. Not only does it have natural beauty, a great climate, and first world amenities, it also offers some of the best retirement benefits of any country in the world.

Retirees of any age can save on everything from healthcare to transportation to entertainment to utilities. And with tons of visa options, obtaining residency in Panama is about as simple a process as is possible in Latin America.

But enough about the boring stuff, what’s truly amazing about Boquete is the scenery and all the incredible opportunities to experience nature in the surrounding areas. Boquete has been dubbed both the “Land of Eternal Springtime” and the “Valley of Flowers,” and it easily lives up to both of those monikers.

At 3,900 feet above sea level, it enjoys a moderate climate with warm days and cool nights. Its location offers sweeping vistas of the surrounding valleys. And its fertile soil makes it the perfect place to grow fresh fruits and vegetables year round, as well as a variety of flowers. Its orchid fair held each March is an international event.

The Pace of Life Is Slow, but You Don’t Have to Be

The surrounding mountains offer opportunities for hiking, bird watching, white water rafting, zip lining through the cloud forests, or exploring local organic coffee farms. After a day packed with activity, the nearby Caldera hot springs are a great place to relax and rejuvenate.

Thanks to a longstanding expat presence, Boquete has most amenities you’d expect to find in an established first world city. English is widely spoken. Phone and internet service are top-notch.

Boquete is a more expensive mountain option than Cuenca, yet still affordable by North American standards. Its expat population is still growing steadily, thanks to much media hype in recent years. That’s likely to continue for years to come.

boca chica panama

Panama Travel

What About the Other 54?

These are the three tropical destinations we feel will appeal to the largest number of people. However, there are still 54 other amazing places you need to know about. It is possible you might love the sound of one of those even more than the three we just described. Download our free eBook and find out!

Much media attention has been given to real estate in Ecuador and the amazing opportunity it represents for expats and retirees who are looking for an affordable place to live abroad. Cost aside, there are a lot of really great things to love about Ecuador, so it’s no wonder it’s become such a popular destination.

Ecuador offers easy access from the U.S., and its many visa options make the transition relatively simple. Many of its cities have good infrastructure, a wide variety of consumer options, and amenities you’d expect from a much more developed region.

There’s authentic culture, impressive ancient architecture, and climates to suit almost any preference. Not to mention the rich history, breathtaking scenery, and some of the friendliest folks you’ll ever find.

The Ecuadorian real estate market can also be a pleasant attribute. However, if you approach your house hunting journey with any misconceptions, it can also be a giant headache. Here are five facts that could, and should, change the way you think about buying a home in Ecuador.

Melosh

Melosh

1. There’s no Multiple Listing Service (MLS) in Ecuador.

If you’ve ever bought a home in the U.S., then you (or your realtor) probably searched for available listings using the Multiple Listing Service, or MLS. Ecuador doesn’t have one of those. As a result, you’re on your own when it comes to finding properties for sale in Ecuador.

A good way to start is by hiring a buyer’s agent, since most real estate agents in Ecuador work for sellers, to help with your search. You can look for properties online via realty sites and expat forums.

It’s also a good idea, if you’ve narrowed your search to a particular area, to spend some time visiting and inquiring around about properties for sale. It may be that some of the expats or locals can connect you with someone who’s interested in selling, but may not have formally listed their property.

2. Ecuador is slowly becoming a buyer’s market.

Real estate in Ecuador was a hot commodity from 2006 to 2014 when the market could be best described as “booming.” This was largely because of the tremendous amount of media attention the country was receiving, touting it as one of the best places to retire or buy a second home.

However, the market has slowed as of late due partially to the drop in oil prices, as the economy depends heavily on its oil exports. To help boost the economy, the government has thrown around the idea of increasing property and capital gains taxes, and the real estate market is bracing for that possibility.

As a result of this uncertainty in the market, some sellers have started to lower their prices. One exception is in high-end neighborhoods where supply is low, demand is high, and the wealthy homeowners may be less desperate to sell. Prices in those exclusive areas have stayed the same or, in some cases, even increased.

Diez & Romeo

Diez & Romeo

 

3. You’ll need a lawyer in addition to your realtor.

You’re familiar with the need, in the U.S., to hire an attorney to oversee the closing process and file the necessary paperwork. You usually sit down with them for no more than an hour, sign a stack of papers, shake hands, and that’s it.

Not so in Ecuador.

Just as you carefully research real estate professionals in order to find someone you can trust, you’ll need to do the same to find a qualified, bilingual (unless you’re fluent in Spanish)  attorney who has experience handling real estate transactions for foreign buyers.

Their role includes ensuring there are no liens against the property or other restrictions that might delay or void the sale. They’ll research the property’s title and ownership history to make sure there are no concerns, handle all the paperwork associated with the sale, and then register your property once the transaction is complete.

4. Taxes and fees are pleasantly low.

Annual property taxes in Ecuador are typically 1% of the value of property as assessed by the local municipality, which is usually lower than the actual purchase price. And the total closing costs for someone buying property in Ecuador is between 2.3% and 4% of the price paid for the property.

Here’s how that breaks down. The transfer tax is a flat rate of 1% of the home’s value. There’s also a provincial transfer tax, which is $510 plus 0.11% of the value, and a registration fee that’s generally around 0.10% of the property value.

The notary fees can vary, but they’re generally 0.10% of the property’s value. These are all paid by the buyer. The seller only pays their realtor’s fee. Later on when you get ready to sell your property, you’ll also pay a capital gains tax of 10% of your profit.

canoa ecuador

Canoavilla

5. The transfer of cash looks very different.

Again, while you’re probably familiar with buying real estate via an escrow account, there’s no such thing in Ecuador. Instead, sellers will usually ask for a refundable deposit (as much as 10% of the purchase price). However, this should only be paid after all due diligence is done and there’s a signed and notarized promissory note.

Another hurdle involved in the buying process is the issue of transferring money into Ecuador. You’ll want to begin this process well in advance as wiring money into the country can take as long as 30 days.

Obtaining a mortgage is not out of the question. However, most financial institutions in Ecuador prefer very short-term financing in order to limit their exposure.

Buying property in Ecuador is a great proposition. However, before you start the process, make sure your head’s in the right place. Don’t be disillusioned by thinking it will mirror the same process in the U.S. Do your homework, and start your search today!

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