Dollarized and Vibrant Economy
The incorporation of The United States dollar, as the official currency of Ecuador since 2000, provides security to investors because there is no risk of devaluation.
Ecuador is among the countries with better economic performance, with an inflation of one digit, which is lower than the average for Latin America.
Highly Skilled Workforce
The economy has a skilled workforce and its salary is competitive in relation to its main competitors. Ecuador has become an international leader for the employment and social inclusion of people with disabilities and has an unemployment rate of 4.3%, the lowest of the region.
The Ecuadorian workforce is recognized as highly productive and for its ability to be trained. Experience has allowed its workforce to acquire a unique know-how to manage their production processes, especially in the banana activities, shrimp and floriculture.
The government has increased scholarships for masters and doctoral degrees. 18,645 scholarships were given for higher education until 2015.
Strategic Location and Logistics Hub
Most of the trade is carried by sea thus; more than 2,500 ships annually leave Ecuadorian ports. However, a significant fraction of foreign trade is carried by air.
Ecuador is located on the Northwest Equatorial Line of South America’s Pacific Ocean, being a strategic location within the continent for its shortcut to the Pacific Ocean. This results a great benefit to the shipping companies by optimizing time and resources to manage their loads. This geographical location is rather unique thanks to the proximity to:
• The West Coast of United States.
• The Panama Canal that allows getting to Europe
• Middle East
• And the rest of East Asia
Mega diverse environment
Nature has been generous to Ecuador. Its climatic conditions facilitate the harvesting of agricultural products throughout the year. It has stable weather conditions with clearly defined rainy and dry seasons. A permanent luminosity enhances the cultivation of all types of fruits, vegetables, flowers and aquaculture products (prawn, tilapia, lobster and others) which have a high demand in the international market and which can also be processed in the country.
New Investments in Infrastructure and Logistic
Ecuador bets to continue increasing its competitiveness through investment in infrastructure to connect all production centers, as well as to facilitate the free movement of people and goods.
Ecuador aims to own the best infrastructure in the region. There is an ambitious strategy established in the Strategic Plan of Mobilization 2013-2037. The plan defines an investment of USD$118 billion in transportation and USD$11 billion in ports for the next 25 years. It will cover all kinds of infrastructure: road, air, sea, railway, transportation of cargo and passengers.
According to the Global Competitiveness Index 2015-2016, Ecuador moved 27 places in the international ranking over the last 8 years, the biggest improvement in the region.
Concerning the quality of infrastructure, the country moved 10 places, from 85th to 75th in 2013, taking the 6th place in Latin America, above Brazil, Argentina, Peru and Colombia.