| Ecuador has recently become the focus of | | | | run-down properties, improve them, and then sell |
| interest by a lot of people wishing to retire in a | | | | them again for a profit. Some expats with good |
| low cost country. This had become increasingly | | | | practical interior design and building skills have |
| relevant as most countries in the world are | | | | already done this. The local low labor costs make |
| currently suffering from a major economic | | | | this a very feasible option for many. |
| recession. Pensions, homes and other investments | | | | Exporting the local artisan products is another |
| have lost substantial value and many people are | | | | opportunity. There is a huge number of products |
| looking at quite bleak futures if they stay where | | | | to choose from, and in most cases they are |
| they are. | | | | extremely good value. Buying in bulk achieves |
| One international organization has ranked Ecuador | | | | great discounts, and the profit margins when sold |
| as the second best country in the world to retire | | | | at wholesale or retail in many overseas countries |
| in, based on the weight of a number of criteria: | | | | more than justifies the travel and marketing |
| - Real estate: 15% | | | | costs. A business like this can be scaled up very |
| - Entertainment, recreation, and culture: 10% | | | | quickly by exhibiting at various trade fairs in North |
| - Cost of living: 20% - Safety and stability: 5% | | | | America, Europe and Australasia. The start-up |
| - Health care: 20% | | | | costs for such a business would be less than |
| - Climate: 5% | | | | $25,000. For people who want to combine a |
| - Special benefits (eg. ease of migration): 20% | | | | business with travel, this is a great way to go. |
| - Infrastructure: 5%. | | | | With very little effort, it is also possible to partner |
| A person can easily live on less than $1,000 per | | | | with local trustworthy Ecuadorians who are |
| month if they own their own home, which can be | | | | currently doing smaller property sub-divisions and |
| purchased for a fraction of the equivalent sized | | | | housing developments. The locals often lack |
| and quality home in most western countries. | | | | sufficient capital, so they welcome having foreign |
| This survey is fine and encouraging for people | | | | partners to join with them and share the profits |
| who can afford retirement. But what about | | | | from a joint effort. Sometimes where the |
| employment opportunities, for those who cannot | | | | projects are too large for a single investor, they |
| afford to retire and still have young families? | | | | can be done on a syndicated basis with pooled |
| For some people, a viable option is to gain | | | | investments. Often, an expat who has already |
| employment with local organizations in Ecuador | | | | established the local relationships and has |
| (e.g. teaching English or some other specialized | | | | knowledge of the local system is a syndicate |
| subject). In most cases, however, Spanish | | | | leader. |
| language competency is required. Not everyone | | | | The best way to research these various business |
| has that, at least to begin with. | | | | opportunities is to spend a reasonable period of |
| For most foreign people who wish to live in a | | | | time in Ecuador and get to know some locals |
| place like Ecuador, but not retire, the best option | | | | while searching for the opportunities. It is possible |
| for earning income is self employment. | | | | to rent a fully furnished apartment for $400 - |
| So what sort of self-employment is possible? | | | | $650 per month. So a 2-3 month stay is not |
| Many people have portable skills. For example, | | | | going to break the bank. In fact for that period of |
| internet based businesses can be operated | | | | time, you can probably rent your own home out, |
| anywhere there is a good connection. This also | | | | or even do a home-exchange with someone |
| applies for good copywriters, authors, on-line | | | | from Ecuador. You will find that it costs very little |
| consultancies, therapists, and many others. Artists | | | | to take an exploratory trip - discover new income |
| also have the potential to profitably work in a | | | | opportunities while having a great fun time. Some |
| country like Ecuador. | | | | people even take the opportunity to attend |
| Some foreigners start or buy restaurants and | | | | Spanish classes 3-5 afternoons per week, so that |
| hostels. One person we know partnered with a | | | | they have something special to take back home |
| local Ecuadorian and started a new internet cafe. | | | | with them. Certainly knowing the Spanish language |
| Another person has started an English bookshop - | | | | will greatly improve the ability to source good |
| for both new and used books. | | | | opportunities. However, it is not absolutely |
| Another option, for those with the skills, is to buy | | | | necessary. |