• About Us
  • Contact Us
  • Privacy Policy
  • Terms
  • Unsubscribe
No Result
View All Result
Live and Invest Overseas
FREE REPORT
BEST PLACES TO RETIRE
*No spam: We will NEVER give your email address to anyone else.
  • HOME
  • COUNTRIES
    • Top Destinations
      • Portugal
      • Panama
      • Belize
      • France
      • Colombia
      • Dominican Republic
      • Thailand
      • Mexico
      • Spain
      • Argentina
    • Browse All Countries
    • Best For
      • Retire Overseas Index
      • Health Care
      • Cost of Living
      • Investing in Real Estate
      • Editor’s Picks For Retirement
      • Establishing Residency
      • Starting an Online Business
      • Single Women
      • Playing Golf
  • BUDGETS
    • Super Cheap ($)
      • Cuenca, Ecuador
      • Chiang Mai, Thailand
      • The Philippines
      • Las Tablas, Panama
      • Granada, Nicaragua
    • Cheap ($$)
      • Algarve, Portugal
      • Medellin, Colombia
      • Boquete, Panama
      • Carcassone, France
      • Buenos Aires, Argentina
    • Affordable ($$$)
      • Abruzzo, Italy
      • Barcelona, Spain
      • Las Terrenas, Dominican Republic
      • Puerto Vallarta, Mexico
      • Costa de Oro, Uruguay
    • Luxury On A Budget ($$$$)
      • Ambergris Caye, Belize
      • Paris, France
      • Panama City Beach Area
  • Real Estate
  • ARCHIVES
    • Living & Retiring Overseas
    • Raising A Family Abroad
    • Foreign Residency & Citizenship
    • Offshore Diversification
  • Making Money
    • International Real Estate
    • Banking
    • Employment
    • Investing
  • CONFERENCES
  • BOOKSTORE
Live and Invest Overseas
  • HOME
  • COUNTRIES
    • Top Destinations
      • Portugal
      • Panama
      • Belize
      • France
      • Colombia
      • Dominican Republic
      • Thailand
      • Mexico
      • Spain
      • Argentina
    • Browse All Countries
    • Best For
      • Retire Overseas Index
      • Health Care
      • Cost of Living
      • Investing in Real Estate
      • Editor’s Picks For Retirement
      • Establishing Residency
      • Starting an Online Business
      • Single Women
      • Playing Golf
  • BUDGETS
    • Super Cheap ($)
      • Cuenca, Ecuador
      • Chiang Mai, Thailand
      • The Philippines
      • Las Tablas, Panama
      • Granada, Nicaragua
    • Cheap ($$)
      • Algarve, Portugal
      • Medellin, Colombia
      • Boquete, Panama
      • Carcassone, France
      • Buenos Aires, Argentina
    • Affordable ($$$)
      • Abruzzo, Italy
      • Barcelona, Spain
      • Las Terrenas, Dominican Republic
      • Puerto Vallarta, Mexico
      • Costa de Oro, Uruguay
    • Luxury On A Budget ($$$$)
      • Ambergris Caye, Belize
      • Paris, France
      • Panama City Beach Area
  • Real Estate
  • ARCHIVES
    • Living & Retiring Overseas
    • Raising A Family Abroad
    • Foreign Residency & Citizenship
    • Offshore Diversification
  • Making Money
    • International Real Estate
    • Banking
    • Employment
    • Investing
  • CONFERENCES
  • BOOKSTORE
No Result
View All Result
Live and Invest Overseas
No Result
View All Result

The Cost Of Living Is Low, But Should You Retire In Ecuador?

Lief Simon Says Ecuador Is A Better Retire Overseas Choice In 2019 Than It’s Ever Been

Lief Simon by Lief Simon
Mar 21, 2019
in Ecuador, Retirement/Living
0
Quiet street with in La Ronda, Quito, Ecuador

Image Source: iStock/pxhidalgo

324
SHARES
3.5k
VIEWS
Share on FacebookShare on Twitter

I came to Ecuador for the first time 20 years ago.

This was pre-dollarization. The place was crazy cheap… but the sucre was collapsing. It lost 67% of its foreign exchange value in 1999 and nose-dived 17% in one week at the start of 2000.

January 2000 President Jamil Mahuad announced that the country would begin using the U.S. dollar as its currency… and it has since.

Soon thereafter Kathleen and I opened an office here in Quito and so had reason to return to this country regularly.

People would ask me, “What’s Ecuador like?”

“Well,” I’d tell them… “you have first-world countries… you have second-world countries (the former communist block)… you have third-world countries… and you have Ecuador…”

The country is a different place today, thanks largely to the significant and forward-thinking investments of former President Rafael Correa.

Correa made infrastructure a priority. He started plans for a new airport outside Quito. Arriving at the old airport was like being released from prison. You stepped out directly onto a city street… into an area enclosed by chain-link fencing and barbed wire.

Arriving at the new airport this week I was struck by just how far this country has come over the past two decades.

The international airport is new and modern. Roads have been improved countrywide, as has the electric power system, thanks to Correa’s 18 new power plants (Ecuador now sells surplus power to Colombia and Peru), and you can get 100 Mbps internet in Quito and elsewhere in the country (if you’re willing to pay for it).

Yet… and here’s the real point to be made… the cost of living in Ecuador remains super low. Maybe not crazy low, as it was when I first spent time here 20 years ago… but low enough that even the most budget-conscious retiree can live comfortably and free of financial worry.

Given the current reality on the ground here, I’d say that Ecuador today is a better and more appealing retirement choice than it’s ever been. It’s still a bargain… but it’s no longer anything like as difficult, challenging, or limited as it was when we first recommended it.

Safety, Economy And Residency

Ecuador is also a safe place, with low crime rates. This has been true historically, but it’s truer now than ever thanks, again, to the efforts of former President Correa who put more police on the streets and invested in a more sophisticated system of investigation with the help of forensics experts he brought in from Europe, for example.

Ecuador’s economy is growing (very slightly) after years of decline following the drop in oil prices. The country depends greatly on oil revenues. When the oil price fell from US$110 to US$28 per barrel, Ecuadorians felt the effects.

Inflation is low because of the U.S. dollar peg. Correa called the peg a “financial straightjacket.” It is… but maybe that’s not a bad thing.

Great weather (certainly more comfortable compared with other top retirement options in the Americas)… safety and stability… and a remarkably low cost of living are the main reasons to put Ecuador on your list of places to consider for your new life or retirement overseas.

Cheap residency is another. You can qualify for the country’s retiree residency program by showing as little as US$800 per month in guaranteed income. And, indeed, that is enough to live on here.

Once a resident, you can work in the country and even vote in elections.

And, once you become a resident and over 65, you qualify for not insignificant discounts, including 50% off airfares, electricity, water, entertainment, and transportation.

Property taxes are so low as to be not worth mentioning (as little as .025%)… and you can buy a comfortable condo in key locations across the country for US$70,000 or less.

More on current real estate options and opportunities tomorrow.

Lief Simon

Comments

Tags: quito
Share177Tweet61
Previous Post

What You Need To Know About Private Schools In Panama

Next Post

Welcome To “Little Miami”! Life As An Expat In Salinas, Ecuador

Lief Simon

Lief Simon

Lief Simon has lived and worked on five continents and traveled to more than 60 countries. In his long career as a global property investor, Lief has also managed multimillion-dollar portfolios of rental properties, for others and for himself. He offers advice on international diversification in his twice-weekly Offshore Living Letter and monthly Simon Letter dispatches.

Related Posts

Scenic sunset in Lisbon, Portugal.
Real Estate

How To Invest In Property 101: The Pitfalls You Should Avoid

by Lynn Mulvihill
January 18, 2021
0

Among the new trends we faced last summer in Ireland, a country home being snapped up by a foreign buyer...

Read more
Refreshing Cocktail at beach in Belize.

10 Reasons To Reinvent Your Life In Beautiful Belize And 9 Challenges

January 17, 2021
Beautiful tranquil beach sun rise in southern Belize.

Ask Yourself These Questions Before You Move To Belize

January 15, 2021
Beautiful Wooden pier view in Belize.

Living A Whole New Life In Belize

January 14, 2021
Perfect tropical paradise beach with palm trees and hammock 350x250

Most Frequently Asked (And Not So Crazy) Questions About Retiring Overseas

January 10, 2021
Family watching sunrise on beach.

Moving Overseas Will Affect Your Family But It Can Be For The Better

January 5, 2021
Senior couple walking on the beach.

The 2 Biggest Concerns Retirees Have Before Living Overseas

January 4, 2021
Next Post
View of the harbor and beach in Salinas, Ecuador

Welcome To "Little Miami"! Life As An Expat In Salinas, Ecuador

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 10 Best Places To Retire In Style Overseas Today.

Start Your New Life Today, Overseas

how to retire overseas

LIOS Resources


  • New To LIOS
  • Ask An Expert
  • Media Center
  • Contact Us
  • FAQs

Quick Links


  • Best Places To Live
  • Best Places To Retire
  • Finding A Job Overseas
  • Real Estate

Sign up for our free daily e-letter, Overseas Opportunity Letter, and get your FREE report: The 10 Best Places To Retire Overseas In 2021

  • About Us
  • Contact Us
  • Privacy Policy
  • Terms
  • Unsubscribe

© 2008-2021 - Live and Invest Overseas - All Rights Reserved.

No Result
View All Result
  • Home
  • Countries
  • Budgets
  • Archives
  • News
  • Events
  • Bookstore
  • Newsletters
  • About Us
  • Members Area
  • Contact Us

© 2008-2021 - Live and Invest Overseas - All Rights Reserved.

WANT TO RETIRE OVERSEAS?

Sign up for our free daily e-letter, Overseas Opportunity Letter, and we’ll immediately send you a free report on the 10 BEST PLACES TO RETIRE in style overseas. Each day you’ll learn about the best opportunities for international living, retiring overseas, offshore diversification and asset protection, and investing in real estate around the world.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.