Ecuador is a haven for retirees

By International Living

From snow-capped volcanoes to dense Amazon jungle, sunny Pacific beaches to the famous Galapagos Islands, Ecuador offers something for everyone, and at prices unheard of in North America and Europe.

There are many places around the world where you can find cheap land, Ecuador included. But in many of those places, you'd lead an uncomfortable life, far from friends and family and disconnected from the rest of the world. Not so in Ecuador.

In this country, you can golf on breathtaking courses where you never have to reserve a tee time. You can have a driver, a cook, and a maid for a fraction of the cost you'd pay in the United States. You can eat a gourmet meal in world-class restaurants offering every cuisine for far less than you'd pay in Los Angeles, New York, or London. You can cook for yourself using market-fresh fruits and vegetables only seen in specialty shops up north.

Great biodiversity

Ecuadorians live in jungle river towns, coastal fishing villages, isolated cattle ranches, the grounds of ancient haciendas and large colonial cities. The country's compact size makes it possible to experience many of these different lifestyles in a single day.

This is a place of astounding natural beauty. Despite covering a mere 0.02% of the world's land mass, Ecuador is home to 10% of the world's plant and animal species. The country also has substantial oil reserves, which account for 40% of the Ecuador's export earnings. Fluctuations in global oil prices can have a substantial impact on the domestic economy, but the central government is making slow progress on reforms intended to reduce Ecuador's vulnerability to oil price swings.

Ecuador's real treasure, however, is its people. It's one of the few places where a foreign resident or visitor can blend easily into the community, being welcomed into a new circle of friends and a new way of life with relative ease. As a foreigner here you'll be treated with respect, and the people you meet are friendly and helpful.

In recent years, Ecuador has gone through a number of tumultuous political changes -- including three elected presidents ousted from office since 1997. But today's Ecuador has emerged as a country that remains viable for those wanting to retire or invest here. In most areas, significant property bargains can be found, and a comfortable lifestyle can be very affordable.

Ecuador is one place in the world where the U.S. dollar is not losing value right now. After the late-1990s debt default, Ecuador tied its currency to the greenback. The dollar is the official currency, so there's no currency risk. Inflation is under control and most economic indicators are positive. Labor costs are still a tremendous bargain and are not rising appreciably. Property prices, which had been dropping since 2001, seem to have bottomed out.

Affordable for Americans

It's not just properties that are affordable in Ecuador -- nearly everything is. Some examples:

• Taxi ride (25 minutes) from airport to Quito $4

• Sushi lunch $4.50

• Night in 4-star hotel $75

• Full-time household help to cook and clean $30 a week

• Haircut $3

• Gourmet meal for two, with wine and dessert $25

In major cities like Quito, Guayaquil, and Cuenca, you won't have to forgo first-world conveniences, either. New cars abound and, in fact, Ecuadorian plants make Chevrolets, Mazdas, Kias and Ladas. Nearly everyone has cell phones, and Internet connections are just as common. And you'll be hard-pressed to pay more than $50 for a dinner for two, drinks included.

It's not difficult to live on less than $17,000 per year here; you don't have to live a restrictive lifestyle to do it. Many foreign residents have a main home in the city but also have a country home, a beach property, or even property in another country.

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