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Ecuador is a retirement-friendly destination with a population of about 18.19 million (October 2024), a PPP GDP of around US $371 billion, and per-capita GDP of US $6,320 (2024 estimate). Inflation is a modest 2.9% and the national currency is the U.S. dollar. Spanish (93%), Quechua (4.1%), and other indigenous languages are spoken, and buses and affordable taxis are widely available nationwide.
Ecuador is among the places in the world for a cheap and luxurious retirement.
In fact, no matter where you choose to live here…
Be it a tranquil mountain village, a historic colonial city center, or along the long stretch of sandy Pacific coast…
US$1,500 a month is more than you’d need for a happy and carefree retirement with all of the amenities from back home… plus a few new luxuries, too boot.
Reviewed By Kathleen Peddicord
Kathleen is the Live and Invest Overseas Founding Publisher. She has more than 30 years of hands-on experience traveling, living, and buying property around the world.
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The official languages of Ecuador are Spanish and Quichua; the language of the Incas, still spoken by over 10 million Native Americans in the region.
Ecuador achieved independence from Spain on May 24, 1822; but most big cities celebrate their own day of liberation, rather than the country’s.
Cuenca was liberated from Spain on November 3, 1820. It’s a national holiday, during which many Ecuadorians and tourists travel to Cuenca.
Loja was Ecuador’s first city to be electrified, in 1897, using power from an early hydroelectric dam.
Ecuador has 11 international airports, connecting the multiple domestic airports dotted around the country to the rest of the world. You will find several daily non-stop flights from the States to Ecuador’s main cities.
Most importantly, Ecuador has more than a dozen intra-provincial buses serving every corner of the country, which you can use to get from the airport to your final destination. Also, taxis are readily available and relatively cheap.
| Information Type | Ecuador Data |
|---|---|
| Population | 18,190,484 (Oct. 2024 est.) |
| Gross Domestic Product PPP (GDP) | US$371 billion (2024 est.) |
| GDP Per Capita | US$6,320 (2024 est.) |
| Inflation Rate | 2.9% (2024 est.) |
| Currency | U.S. Dollar |
| Exchange Rate Versus U.S. Dollar | N/A |
| Language | Spanish (Castilian) 93% (official), Quechua 4.1%, other indigenous 0.7%, foreign 2.2% |
| Capital | Quito |
| Population of Capital City | 1,987,000 (2024 est.) |
| Time Zone | GMT – 5 |
| Seasons | Coastal area is tropical—wet, warm/hot year-round. Andean Highlands is temperate—four seasons. See climate in Ecuador. |
| International Dialing Code | 593 |
| Electricity | 120-127 V/60 Hz, Plug Types: A & B (U.S. style) |
| System of Goverment | Presidential Republic |
| Current Leader | President Daniel Noboa (since 2023) |
| Income Tax Rate for Residents | 5% to 35% |
| Property Tax | 0.025% to 0.5% |
| Capital Gains Tax | 5 to 10% |
| Inheritance Tax | 0% to 35% |
| Rental Income Tax | Taxed as regular income, up to 22% |
| Transfer Tax | 1% |
| Sales Tax | 12% |
| Restrictions on Foreign Ownership of Property | Permission needed (usually granted) to acquire land within 30 miles of the coast. |
| Local Chamber of Commerce | Av. Republica y Amozonas, Edif. De las Camaras, Pisos 5 y 6
Quito, Ecuador |
| American Chamber of Commerce | Av. 6 de Diciembre y La NinaEdf. Multicentro, Piso 4, Quito, Ecuador Tel: 593-2250-7450 |
| Primary Exports | Petroleum, bananas, cut flowers, shrimp, cacao, coffee, hemp, wood, fish. |
| Residency and Visa Requirements | Tourist Visa: When you arrive at the airport, you’ll receive a T-3 visa allowing you 90 days in the country. Residency: Ecuador offers a number of attractive residency options, with low thresholds of qualification. If you intend to live in Ecuador and would like to come and go as you please, you should get a residency visa.Citizenship: Three uninterrupted years of legal residency. |
| Special Benefits for Foreign Residents or Retirees | Holders of residency visas may only be out of Ecuador for a maximum of 90 days per year, for each of the first two years. After that time, you may not be out of the country for more than 18 consecutive months. The process for revoking visas is much more efficient than for obtaining them.If you can live with the in-country time restriction, obtaining residency is well worth the effort because you have almost all the rights of a citizen. |
| National Airline | TAME |
Reviewed By Kathleen Peddicord
Kathleen is the Live and Invest Overseas Founding Publisher. She has more than 30 years of hands-on experience traveling, living, and buying property around the world.
Start Your New Overseas Life Today
A world full of fun, adventure, and profit awaits! Sign up for our free daily e-letter, Overseas Opportunity Letter, and we’ll send you a FREE report on the 12 Best Places To Retire Overseas In 2026
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Portugal is on the Iberian Peninsula, in the southwest corner of Europe. Portugal shares that peninsula Spain, its larger neighbor.
Portugal is known for Fado music and also for being the largest cork producer in the world.
Portugal’s high season is during July and August, especially to coastal areas. Expect to pay at least a 30% premium on accommodation and encounter warm weather across the country.
Yes, Portugal is a sought after retirement destination. In fact, it’s one the world’s top retirement havens.
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