Cuenca is a very attractive and historic city with strong echoes of its colonial and prosperous early republican past.
Specifically, based on how I define the “7 expat categories“, Ecuador is great for retirees, hermits, nomads, and internationalists. Here are six reasons why: First, as you’ve probably heard, cost of living is dirt cheap in Ecuador…
Just recently, in fact, Correa announced that he would be taking steps to nationalize foreign oil companies who don’t agree to limit their profits based on a government mandated ceiling.
These sorts of things tend to make foreigners run away like a scalded dog. The country saw seven presidents from 1996-2007, which makes it about as stable as Thailand.
Labor costs nothing, so you can have a whole staff at your hacienda for the equivalent of a Mercedes payment; and food prices are generally 20% to 60% less than in North America or Europe.
It’s also worth mentioning that the US dollar is the official currency, which has several advantages and disadvantages that I’ll get into in a future letter.
Well, I wasn’t around in the 50s, but I certainly agree that life is very simple in Ecuador.