As I write this I’m in Quito for the fourth time. Every time I’m amazed by how cheap some things are, partly because the prices have barely budged since I first started taking notes in 2009.
They use the U.S. dollar here, so there are no mental calculations to do and no currency fluctuations. When the government made that rash decision at the beginning of the 00s, it was done to tame inflation. Mission accomplished on that front.
Sure, some things go up. As I’ve mentioned before, alcohol. But that’s from massive taxes, not inflation. Fuel will go up eventually when subsidies get rolled back, starting in 2016. Meanwhile, you can get a taxi ride for $2-$6.
I’m posting same random photos I took this week while walking around the historic center of Quito. I arrived around lunchtime and was starving, so I popped into the first meal of the day place I came across. I got a bowl of soup with rice, veggies, and beef. Next was a big plate with chicken, rice, potatoes, and a salad. A glass of juice and a banana came with it. The bill was $2.35.
Later I stopped in a place that had a microbrew on draft—a real novelty in most of Latin America still—and met a couple from Florida who owned an apartment nearby. They don’t live here all year, but they come down regularly. “We bought it on a lark really. It was around $30,000, so we figured there wasn’t much downside to that deal. We put about $20K into it over four years getting it ready. Now it’s quite nice.” They’re walking distance to where I was, which was about two blocks from the Plaza Grande.
Quito is a city where you still see apartments (or even whole houses) for sale for less than $50K and decent places to rent for less than $300. Oddly enough, Cuenca costs more than the capital these days for the non-exclusive places because the average income is higher—not just because of the 5,000 or so gringos, but because a lot of wealthy Ecuadorans have moved back from abroad and settled there for a more mellow life.
Get beyond these two cities and (not so desirable) Guayaquil, however, and living expenses are almost sure to be even less. Riobamba, Vilcabamba, Cotacachi, or some chilled-out town in the Andes you find and decide to unpack for a while. Ecuador is one of the best countries for expats, so you’ll find plenty of them around if you want to mix with people from your home country.
There are a lot more details in my book, A Better Life for Half the Price. Those who sign up for a more comprehensive, ongoing course structure will be hearing a lot about Ecuador. Get on the list for updates here.