According to the World Economic Forum and its business feasibility/competitiveness ranking, Ecuador is ranked as one of the top economic players in Latin America. The country provides ideal conditions to start and manage a business, ranging from pro-business legislation and an openness to foreign investment to a stable economy and access to robust labor and consumer bases.
Key factors that make Ecuador an attractive location for new business are:
Economic stability: The US dollar is the national currency, which ensures stability and longevity in investment maintaining the value of your investment (economic stability).
Access to consumers: Ecuador is a great center of commerce, member of strategic commercial agreements worldwide and with access to approximately 800 million consumers due to its location.
Abundance of Natural Resources: Ecuador has an extraordinary degree of biodiversity and includes four distinct climate zones, providing wide access to nature.
Pro-Foreign Investment Government: Current legal and political framework encourages national production, foreign investment attraction, support for local entrepreneurship, and public-private alliances, among other initiatives.
Simple incorporation: Many investors find that incorporating a company in Ecuador is the best way to penetrate the desired market. The process is simple and can be completed in a matter of weeks once all the required documentation has been sent.
Quality infrastructure: The country has excellent infrastructure, ranging from a sophisticated port system, recently renovated international airports, extensive fiber-optic coverage, and first-class road network.
Educated and ample workforce: Labor costs in Ecuador are relatively cheap compared to other countries in the region, such as Argentina or Chile, and the workforce is quickly growing in skill and expertise.
