Washington, D.C.. Some cities have some obvious billionaires that come to mind. Located just a few hours north of Quito, travelers can easily visit Otavalo as part of a guided excursion to Otavalo - or independently - in just a day. The cost for a single person living in Florianopolis for food, clothing, transportation and entertainment is an average of $560 a month. Rio is a major tourist destination and receives the most visitors of any South American country. Public transport is also on the move, with a tram system in the works that will make getting around this Andean gem a veritable breeze. Happy Valentine's Day! Most of Johannesburg's wealth is concentrated in Sandton, home to the JSE (the largest stock market in Africa) and the head offices of most of Africa's largest banks and corporates. In 1996 the wealthiest 20 percent of Ecuadorians earned half of the nation's total income, while the poorest 20 percent collected only 5 percent. Theres a real hippie atmosphere here that has enticed many travellers to settle permanently; however, a steady flow of backpackers means cheap places to stay, plenty of food options, a ton of bars, and a good party-time atmosphere. Political Risk Analysis: Whats Ahead For Ecuadors Economy In 2021? The gap between rich and poor grew noticeably during the 1999 economic crisis, when much of the middle-class fell below the poverty line because of rampant currency devaluation and inflation. Ecuadors economy fell into recession in 2015 and remained in recession in 2016. With a PPP per capita of $14,131, its ranks as the third richest country in Latin America. The Ciudad Vieja area is filled with historic architecture and museums, art galleries, theater, shops, restaurants and nightclubs. Widely acknowledged as the safest city in Mexico (and even Latin America), your biggest safety concern in Mrida will probably be the busy traffic. 53.85%. The other towns (or comunas) such as Manglaralto, Cura, San Jos, Las Nuez and La Entrada are very small with virtually no services aside from a traditional Ecuadorian restaurant and a small tienda (convenience store) or two. Quito is situated at 2,818 metres above sea level nestled between mountain peaks. In 1999/2000, Ecuador's economy suffered from a banking crisis that lead to some reforms, including adoption of the US dollar as legal tender. Fans, Scores Of Prisoners Are Dead In Ecuadors Worst Prison Riot Heres Whats Happening, This Scientist Helps Andean Forests And Ecuadors Women In STEM, Forbes Announces Launch Of Forbes Ecuador, Building A Social Entrepreneurship Ecosystem In Ecuador With Lots Of Local Checks, Dutch Tribunal Upholds Chevrons Award Against Ecuador. The city is the home of the headquarters of Brazils oil, mining and telecommunication industries. The cost to rent a 900 square foot apartment s between $500 and $700 a month. Want to be an expat? Unlike Salinas, the tropical microclimate in this area is more lush and green. The best thing you can do with staying safe in Ecuador as with many places around the world is be cautious and remain aware of your surroundings. The older generation seems to live a really long, healthy life in Ecuador! If you prefer a more laid back atmosphere, youll want to visit La Playa de Chipipe (Chipipe Beach), which is a 5 minute walk south of the main beach just past the Salinas Yacht Club. Despite being home to millions of people, the city of Guayaquil, Ecuador is right on the edge of mountains and mangrove habitats swarming with biodiversity and possibly still a jaguar. Its known for its high level of endemic species. There are lots of bilingual Ecuadorians, as well as language schools. Hillsborough, California. Not only is it home to the Galapagos Islands, but also stretches of the Amazon and the Andes! As an international and national financial hub, the city is home to some of South Americas most iconic skyscrapers. Monthly rent for a 900 square foot apartment is more than $1,000 a month. Contents1 Where do the wealthy live in Ecuador?2 What are the poorest cities in Ecuador?3 Is Ecuador a rich place?4 What is the richest part of Ecuador?5 Is Ecuador good to live?6 What is the main city in [] I am planning on retiring next June. Buenos Aires is called the Paris of South America due to its European cultural influence. On the less populated Isabela Island, Sun & Coffee is a good spot especially for breakfast. Not surprisingly, Quito has some cool coworking spots to check out. The cost for a single person to live in the city runs between $400 and $500 a month aside from rent. Biggest Cities In Ecuador 1. You might want to live in the mountains or beside the beach whichever it is, our guide will help you make that decision. If you travel light, you can easily move between cities until you discover the best city in Ecuador for you. Couple that with a decidedly laid back atmosphere, and the fact that its also pretty clean and pretty safe, and it stacks up to be a liveable city. Montevideo, Uruguay has the highest cost of living of South American cities. Monthly rent for a 900 square foot apartment is about $1,100. 28.10%. Located in the foothills of the Sierras Chicas on the Suquia River, Cordoba is northwest of Buenos Aires and is the second most populated city in Argentina with 1.3 million residents. The cost for food, clothing, transportation and entertainment in So Paulo for a single person is at least $600. You wont want to leave home without your umbrella and rain jacket. In terms of the locations themselves, London, New York, and San Francisco are the only Western cities to make the list. There are many metallurgical companies due to the natural minerals found in the landscape. Ecuador has been named as the best country in the world to relocate to after retirement for obvious reasons. After all, Charles Darwin cemented his theory of evolution here. 2.7 #6 Quito, the Capital City of Ecuador. Check to enable permanent hiding of message bar and refuse all cookies if you do not opt in. As this Ecuador team emerges as a potential World Cup dark horse, it does so with the most MLS players of any team in the tournament outside of Concacaf. 42.6% of households. We need 2 cookies to store this setting. Coach Izzy However he does like to take on other topics involving some of his personal interests like automobiles, future technologies, and anything else that could change the world. If youre studying Spanish, Cuenca is a great place to learn the language. It is also a major finance center. What is the wealthiest city in Ecuador? Mining, logging, automobile tire manufacturing, agriculture, eco-friendly energy and textile manufacturing are all part of the economy. During the off season from May through November, Salinas is reminiscent of a ghost town since most of the high rise condos are Ecuadorian vacation homes. Its port is vital to the citys economy. Forbes announced today the launch of its international edition, Forbes Ecuador, in partnership with HT Media. Click to enable/disable _gat_* - Google Analytics Cookie. Share to Linkedin. Named after the equator, the South American gem that is Ecuador has some incredible natural credentials. Many expatriate employees have moved to Braslia for their work. The airport in Cuenca makes it easier to reach than some of the other mountain cities like Cotacachi and Vilcabamba, which lack an airport; however, there are no direct international flights from the US or Europe into Cuenca. First of all, you may want to check out the riverside Coworking Cuenca, a friendly place with outdoor spaces to boot. What you do get, however, is nature and lots of it. Osaka, Japan (GDP - $654.8 billion) The ranking of the top 10 richest cities in the world includes two settlements from Japan. The city experienced major economic growth between 1970 and 2004 and continues to develop industry particularly information technology. His immediate challenge was to reengage the private sector to improve cash flow in the country. The prevalence of English speakers in this area may be one reason so many American and Canadian expats have lived here for so long. Quito, the capital of Ecuador, was founded in the 16th century on the ruins of an Inca city and stands at an altitude of 2,850 m. Despite the 1917 earthquake, the city has the best-preserved, least altered historic centre in Latin America. The summer high season is from December to May when the weather is warm and sunny, but the remainder of the year its cooler and mostly cloudy. Please be aware that this might heavily reduce the functionality and appearance of our site. Porto Alegre is a major port in Brazil. The citys economy and culture draws people from all of the world. IMPAQTO Quito is cool, on the other hand, and offers a great working environment. A 900 foot apartment costs about $875 per month to rent. Note that blocking some types of cookies may impact your experience on our websites and the services we are able to offer. Shopping malls, shiny cars and tall apartment complexes abound in north Quito, while just a few minutes outside the city, cinder block buildings with no windows, makeshift farm fields and unfinished roads vie for space. Once you become a member, youll also gain access to a variety of exclusive benefits that will help you make a smooth transition to Ecuador! Beijing: 100 Billionaires. The large city boasts music festivals, luxury shopping, fine dining and nightlife. A single person living in the city can expect to spend at least $500 a month on food, clothing, transportation and entertainment. The city is known for its neoclassical architecture and famous residents including revolutionary leader Che Guervara and several sports stars. Its has become a multicultural city that is home to many businesses and cultural activities. Uruguay was the South American country with the highest gross national income per capita, with 15,800 U.S. dollars per person in 2021. It is also an expensive city to live in. It is mandatory to procure user consent prior to running these cookies on your website. He was the founding member of Grupo de Guayaquil (a literary group in Ecuador). 135.4% more than U.S. median income. Guayaquil Guayaquil, the capital of Guayas Province, is the largest and most populous city in Ecuador with a population of about 2,278,691. According to, Read More The 10 Worst Neighborhoods in DetroitContinue. Ecuador has been named as the best country in the world to relocate to after retirement for obvious reasons. This site uses Akismet to reduce spam. Total Net Worth: $484.3 Billion. Nearest International Airport: Guayaquil (6.5 hour drive; 40 minute flight), Nearest US Consulate: US Consulate in Guayaquil. Manta is an industrial city and home to Ecuadors largest shipping port, making it a popular stop for cruise ships. Its not likely that youre going to run into any trouble when youre in Ecuador, but its important to be clued up on things that do happen there. There are several modern shopping malls in Guayaquil, including Mall del Sol and San Marino Mall. Alvaro Noboa (born on November 21, 1950) A businessman and politician by profession, he is the richest man in Ecuador. Nearest International Airport: Quito (4 hour 30 minute drive). It is also the most second most expensive city to live in Columbia. The region's 198 large citiesdefined as having populations of 200,000 or moretogether contribute over 60 percent of GDP today. Industry in Rosario includes agriculture and chemicals. Montanita is the ideal spot for surfers, who flock to the beach for its famous breaks. There are poor areas, for sure, but there are also plenty of places where people have money to spare. Nearest International Airport: Guayaquil (3.5 hour drive) or Quito (8 hour drive; 45 minute flight), Nearest US Consulate: US Consulate in Guayaquil or US Embassy in Quito. Combined with the cloudy, cool winters, you might need a wetsuit to swim or surf from June through November. Ecuadors economy is expected to bounce back in 2021, but the countrys next president will still need to rally support for reforms to the way pensions and state-owned enterprises are managed, and continue to look for ways to diversify exports. Declining oil prices and exports forced the CORREA administration to cut government oulays. 2.5 #4 Cuenca, a Small Town. There are numerous well-maintained river walk trails, as well as some high mountain hiking trails. Take care and stay well. Its open to the public, and with 300 days of sun per year with temperatures in the 70s and 80s F (20 to 30 C), youll be able to hit the links whenever you want. . Many ex-pats now choose to base themselves in Manglaralto and Olon, which are much quieter than Montanita but both with beautiful beaches.