Ecuador has some of the freshest and most diverse open air food markets I have ever seen.
Recently we published an article about Ecuador as a place to live and invest. We were surprised by the number of responses and several important questions were raised. See our replies to your questions below…
Question from Manuel:
Your article sounds interesting. How about the strong relatively communist influence from Venezuela. The interference of Venezuela in Ecuadorian affairs, makes any investor nervous. Venezuela has been nationalizing private enterprises. They are shutting down media that does not agree or creticize the government. President Correa who is a disciple of Chavez, can ruin all the good things you said about Ecuador in your article. I suggest Americans should wait before risking their lives and fortune to invest in a communist state. As long as Correa and Chavez are around, Ecuador represent a risky place to invest and live. what do you think about my assessment. I have traveled a lot, and work in the area.
Michael’s Comments:
I was in Ecuador this past May 2009 during the re-election of President Correa. I was impressed by the contributions made by the general population to the election efforts. The entire election appeared very democratic. There were competing signs and advertisements from many different politicians in every town I visited. Political campaigns were ongoing in the town squares and cities, with a real grass roots feel where families of all generations gathered to support their party. There were no signs of violent protests or otherwise risky activity. Many locals I spoke with differed on their opinion of Correa, but overall he has general support from the people. He is the first President to be re-elected in Ecuador in many years and has made many investments into new roads, bridges and airports since taking office over five years ago. While Ecuador is allied with Venezuela on many respects, I don’t see how this increases the risks of living in Ecuador short of an all out war with the U.S.
Ecuador is not at all what I would consider a communist state… most businesses are privately operated and although the state has a role in large industries, local business owners are free to open shops, offer services, and compete with one another. With the entire mortgage finance and auto industry subsidized and essentially nationalized in the U.S. I have a hard time seeing how Ecuador could be considered any more communist or socialist than the US of A.
I don’t think Americans would be “risking their lives” as you suggest to spend time in Ecuador any more than they are risking their lives by subjecting themselves to the now defunct and ridiculously expensive medical and health care system in the United States, not to mention high crime levels among other risks.
I have heard reports of Correa shutting down certain media channels that were operating with fraudulent permits granted under previous administrations. Perhaps if I was a large multinational corporation eager to exploit oil and mineral resources from Ecuador’s Amazon rainforest, I would have to contend with the stringent policies implemented by President Correa – stringent policies that are viewed by the West as communist but which are viewed by many as protecting and conserving mother nature. Weather or not Correa truly cares about the environment, I do not know, but I do know that the Ecuadorian people do so those policies reflect the people’s wishes as they ought to. Ecuador property rights are guaranteed under the constitution so I see very little risk to private property ownership so long as I’ve done proper due diligence prior to purchase.
House and condo rental rates are so cheap in Ecuador, it would totally feasible to enjoy Ecuador without investing anything apart from your monthly expenses, thus reducing your investment risk dramatically.
Question from Lesley:
Hi,
Living in South Africa, we decided to move to Uruguay. Went to have a look, bought 2 plots in Piriapolis and busy getting all the paper for a resident visa. BUT…BUT… checking the weather
in Piriapolis… we find it a bit cold for our taste. We now thought of Ecuador, but what are
the requirement for a resident visa, without this information…we can go futher.
Kind regards
Lesley
Comments from Michael:
Ecuador has one of the lowest investment requirements to obtain a residency visa of any country I’ve investigated. One way to qualify is to purchase a property valued at $27,000 or more (no, I am not missing a zero, that’s ‘twenty seven thousand dollars’). There are other options also related to your monthly pension income. These are all covered in the Ecuador 101 – E-Book Guide To Living and Investing in Ecuador which is free to Upgraded Members of Retire Worldwide.
Question from Jill:
My fianace Tom and I are going to Ecuador this Dec. and would like to look at some properties: is that possible? How would we line t his up?
WE are going w ith a small group but of course have extra time to look around and would like to .
thanks,
Jill
Comments from Michael:
I met a handful of real estate contacts up and down the Ecuador coast on my last trip. I can put you in touch with them prior to your visit depending on which areas you are interested in. Write to info@retireworldwide.com for more details.
Question from Alan:
Well, it would seem that your travels did not take you to places like Rio Intag, or some of the other outlying towns of Ecuador, where things are not quite as prosperous. Improving yes, but far from prosperous by any standard.
Ecuador has a history of socialist and Leftist influences, especially during the years Buccaran and his family had any influence at government levels. This has always been an issue and is nothing new. If it gets to the point of really curtailing freedoms, look for change. History speaks pretty loud.
History also shows that people like Chavez come and go, and life goes on. The simple fact is this, you always get what you expect. Anyone moving to Ecuador with the idea that it will be anything but positive, and is fully invested in that mindset, will get what they focus on and think about the most. Sorry, just an aside. Lived there for 10 years. married to an Ecuadorian. Owned my own business. Moving back after an absence of 25 years to retire and cultivate coffee. Fluent in the language and culture. For what it’s worth.
Michael’s Comments:
I agree 100%, particularly with your statement about getting what you focus on the most. Good luck with your new life in Ecuador!
Question from John:
Michael, great article…what is the name of the town with the condos for $40,000?
Michael’s Comments:
Actually there are several coastal and highland towns in Ecuador where condos sell for $40,000 or less. A few of these are Bahia de Caraquez, San Clemente, Cotacachi, Cuenca, Atacames… of these my favorites are probably Bahia (coastal) and Cuenca (highland). We outline all of these areas in more detail in the Ecuador 101 Report - available for free to Upgraded Members Of Retire Worldwide.
Question from Karen:
What is the weather like in Ecuador?
Michael’s Comments:
This totally depends on which area of Ecuador you go to. The main difference will depend on elevation… at sea level, Ecuador is generally tropical with a climate comparable to Hawaii. In the highlands, it will feel more like Colorado in the spring (year round) without the hot summers or cold winters.
Editor’s Note: The beta version of Ecuador 101 – E-Book Guide To Living and Investing in Ecuador written by Michael Manville is now available for free to Upgraded Members of Retire Worldwide. This version is uncut, unedited, but a lot of fun to read. An additional report also free for members is “Undiscovered Beachfront“, where you can find some of the most affordable beachfront property in the Western Hemisphere.
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My last trip to Ecuador was back in 2007 and the location was Guayaquil. It was like going back into time compared to the USA (Like late 70′s). The big problem was the language barrier with English which is why we decided not to invest in Ecuador. The political situation was also unstable back then. I don’t plan to re-visit Ecuador for my investment or retirement location. There are better locations to consider.
After decades of travel, my wife and i finally got mugged in Quito last year. I would say that you should avoid most large cities in Ecuador or at least tread carefully if you must stay there. The world economic crisis has taken its toll and cities like Guayaquil are overflowing with poverty..Whereas small coastal towns such as Puerto Lopez, Montanita are relatively quiet and seem to have their own little micro economies due to an abudance of fish and farming goods. I’m not shure that outsiders would be welcome there in the long term.
Yes. Wondering why my comment submitted last week was the only one NOT published in this ezine.I bought a home in Matal on the coast of Ecuador.?
I am retiring in another year. I enjoy hunting and fishing and am curious about the legality of bringing firearms into Ecuador.
Thank you,
Robert
Hi Glenn,
I like Manta. I wrote about it in this post, which is protected for paid members:
http://www.retireworldwide.com/978/ecuador-beach-retirement-paradise-or-sacrifice.htm
I also write about it in the Ecuador 101 – E-Book: http://www.retireworldwide.com/country-guides/ecuador which is free for paid members.
If you want to send us more info about Manta we’d really appreciate it. Send it to info@retireworldwide.com or consider becoming a Host: http://www.youtube.com/watch?v=9c_jjsFPlPs
Michael, I was wondering why you have not mentioned Manta in any of your writings. I visited Ecuador many times from the highlands to the coast and everywhere in between. I finally ended up buying land and building in Manta, a wonderful beach front town with all the things most Americans look for, large enough to not be bored after a month but not so big as to be be anoying. They have great diverse resturants, shopping malls, movie theaters, several modern hospitals, casinos, great weather year round and an international airport. I have been in Manta for several years now and think they have everything most North Americans would enjoy.
Thanks Dean. I think a lot of us are interested in Ecuador’s beaches and beach lifestyle because of the way it hasn’t been spoiled by a lot of big resorts and tourism dollars. Like Costa Rica in the ’80s? Not everyone wants a developed “beach destination”, nor the prices and crowds that come with it. Surely, for those who want modern developed resort communities, mainland coastal Ecuador may not be their ticket. I didn’t like Salinas either, but there are other parts of Ecuador’s beaches I do like, mainly because of the lack of development, raw beauty, and simple way of life…
I watched with intrest the slideshow about Salinas. I have lived in Bahia and visited Salinas. The show only shows the one avenue around the little bay, the rest of this pennisula is barren and only 3rd world concrete uglyness. This is a place to avoid, it is only a party town for the moneyed people of Guayaquil, a westerner would be bored in a week. Ecuador is an eco-destination not a beach destination, wake up!
People in Ecuador can be very racist against blacks and the local indigenous populations, especially in the sierra. But they would never say anything. I recently met a taxi driver who just could not believe that foreign (white) women would be interested in having relationships or marrying indigenous men. This is not an uncommon opinion here in Quito.
I have been visiting related blogs and sites lately and i have to say you have a nice design and content. I have bookmarked your page and hope to mention your post in my potential blog.
I’m a black male married to a white women. We vacationed in Ecuador in August 2009-we absoulutely loved the place. What we observed was a very diverse people. We also did not feel any form of racism towards us. We are now making plans to retire in Ecuador. If you are black and have some concerns, visit and see for your self.
With reference to “Question from Lesley”(S African who bought in Uruguay, thinking of Ecuador):
If you are 50+, 800 000baht (+- 180 000ZAR / 24 000USD) in a Thailand bank gives you retirement residency in that country. Cheap rentals, low cost of living, excellent healthcare, etc. Worth investigating – - -.
Please let me know if retiring in Ecuador would be the right move for a middle age, middle class African American couple. I have been reading so much that is positive about Ecuador but there are some negative articles in circulation as well.
HI,
Loved all into. We are thinking about moving to Equador. Can you give info on how to get pets in the country. We have three small older dogs. Also, is finding a rental easy with pets ? We want to live there for at least six months before we purchase.
Thank you,
Jeanne
I have read a few negative things in regard to race in Ecuador. Can anybody please advise me about this situation. I am a well educate, middle class man of African decent and I would like to know if there really is a problem before I invest too much time and money in search of a comfortable life in Ecuador
i
I enjoyed all the discussions on Ecudor..I had some personal questions and they have been answered here today….I will definitely be making a trek to Ecuador in the future…..
Patti
I have been in both countries (panama and ecuador)and I do really think that equador has more things to offer than panama,its natural beauty and its geographical location, makes ecuador a great place to visit ,not to mention everything is cheap and people are kind and gentle,
I have visited many times as well as panama as ecuador and personally I think ecuador has much more natural beauty than panama, the cost of living in ecuador is really cheap based on western standard,people are kind, my only drawback will be the transportations, but overall is a nice place to live
Please send me some realty links
I want to buy a nice lot on a golf course for $15000US
Or can you direct me to a devlopment near town and near a beach
Rick
Zoila, Thank you for your comments. To your first question, yes, I am pretty sure it is going to get a lot worse when the multi-trillion loans come due. Part of the point of Retire Worldwide is to offer observations, contacts, guidance and knowledge to those who realize the problems facing western nations today, and to consider options all over the world. To your next comment, I am not recommending that anyone leave Panama behind – I still think Panama is a great place to be, I just don’t think it is the only option. Retire Worldwide gives us the opportunity to consider all of the possibilities (not just Panama). Just because I don’t condemn Correa for hanging out with Chavez doesn’t mean I myself have taken a left turn. I believe and support the free market, (Retire Worldwide Memberships are not free ; ) I just wanted my readers to understand that Ecuador is not “communist” and protecting the Amazon rain forest should not be construed as communism. Panama may appear more right wing than most Latin American nations and it is, but when you get into Panama’s labor laws, domestic tax rates, and unions, there are plenty of social policies there too…
Michael, you write:
“With the entire mortgage finance and auto industry subsidized and essentially nationalized in the U.S. I have a hard time seeing how Ecuador could be considered any more communist or socialist than the US of A.”
Right. We see the US marching to the FAR left, emulating the late USSR, but our ethnocentrism tells us: If the US is doing something it can’t be all that bad. My question to you, Michael: Are you absolutely sure it is not all that bad and that it isn’t going to be MUCH worse very soon, once the multi-trillion dollar loans come due? Look, many people left the US for Panama to be on the safe side, politically and economically. Now you are recommending they leave Panama behind and head for a country that is to the LEFT of the US (at least the US most are used to). I will stay put right here in Martinelli land, thank you.
You started out on the right track, promoting Panama, a country that respects the free market and its self regulating mechanisms and lets businesses take their hard-earned profits. Now you have taken a left turn that absolutely amazes me.
Who is the real Michael?
i do not care how you slice it , quito is a rats nest of petty crime…..you constantly need to watch your back and your bags.
i don’t care if you are in the international airport, the hilton or the bus station . petty thieves
are rampant.
i quess if you lived outside quito you would be o.k.
Michael,
Can you give me information about government and investments in Peru? I’m interested in the northwest coast (Tallara area) where it has very little rainfall and the temperatures are and average of 60 to 85 all year.
Dale (Florida)