Cost of Living In Ecuador



Reprinted from: Best Places To Retire

Ecuador, a country in South America, is a great destination where people choose to live. It is endowed with one of the best geographical features that you will see. It is bordered by the Pacific Ocean, lying directly on the Equator. Neighboring countries include Colombia and Peru.

Here, you will find mega diverse species compared to the whole world. There is also the Cotapaxi which is the highest active volcano and it is located here. When it comes to beauty, you can always find Ecuador with scattered UNESCO World Heritage Sites.

What about the cost of living in Ecuador? How does it compare to the United States?

Economic situations here in Ecuador seem to be stabilizing. With so many natural resources here, the trading and export industry is quite strong here. You do not have to worry about the economy when you are staying in Ecuador. Good thing is that this country is quite modernized compared to other South American countries. The cost of living in this area is quite cheaper than in North America.

Ecuador uses the US Dollar as their national currency. No other currency is accepted here so change all foreign money to USD before paying here. The USD exchange rate is at 1 USD per 1.45 EUR. Generally, you can get everything cheap here, but there are also some commodities which are more expensive. Check these things out first whenever you purchase anything.

Housing Costs

Living here is not a problem especially for housing. Lots here are sold cheap and people can afford it. If you are new here, renting an apartment is the easiest way to find a home. A decent apartment can cost around $400 a month. There are obviously cheaper spaces that you can rent out here. This depends on where you want to live so pick a nice spot where there are If you have enough money, you can choose to buy your own home or apartment for at least $70,000. When you think of living here, you will definitely find a cheap place to stay here.

Transportation Costs

Transportation is also very cheap here even if you take the public transport. If you own a car, theprice of gasoline is not that expensive. You can pay for $0.46 per liter of gasoline in Ecuador. The one-way ticket fare of the bus costs around $0.25 which is so far one of the cheapest faresavailable. You can also ride a cab for faster travel without stops and the rates go at $2.25 per 5 km distance. It is easy to find public transport here in Ecuador without finding it so much of a hassle to pay for the fares.

Average Cost of Monthly Utilities

You’d be surprised at how cheap monthly utilities are here. Electricity is surprising cheap as it only costs around $25 per month. This already includes full use of equipment and appliances in your homes. Water bills per month average at $10 to $15 which still comparable affordable. For internet, telephone and cable TV, there are packages that include all services and charge around $45 monthly for all of these. If you plan to keep a mobile phone with a local Ecuador line, telephone companies may charge at $40 per 100 minute calls. Monthly utilities cost at around $70 per month which is really affordable.

Cost For Maid Services

Maid services vary here in Ecuador. There are so many services when it comes to this such as domestic servant or nannies. Nannies still exists as a job here in Ecuador who basically takes care of children. For this kind of job, nannies are paid $10 to $15 per 4-5 hours of working. Maid services or domestic helpers are the ones who assist in chores that should be done in the house. These people may do cooking, cleaning, babysitting, ironing, laundry and a lot more. The monthly salary for this job is around $180 to $300 depending on the job that they have. Living in Ecuador is quite beneficial because you can still get assistance from maid services but still nto pay a high price for this.

Cost of Food and Drinks

Food is very cheap here in Ecuador. No matter where you eat or where you buy your food, you can always get the cheapest prices even for the good stuff. Groceries costs around $150 per month and something this budget may include dining out too. Fresh vegetable and fruits cost $13 weekly which is not at all bad. You can also get meat, fish and poultry for a relatively cheaper price too. Eating out, you only incur and expense of $3 to $5 dollars for fast food chains. The more expensive meals cost around $25 per person. You can practically dine outside here in Ecuador and still feel like you are just spending for home.

Healthcare Costs

Healthcare in Ecuador is satisfactory. As a developing country, you may not expect it healthcare to be first class but you can guarantee that you will get the best services here from the best doctors in Ecuador. You just have to choose the hospital that you are going to visit if you want excellent equipment for healthcare needs. The visit to the doctor will cost you around $20 to $25. For health insurance, you need to pay for $50 per month but there is only specific hospital that will accept your insurance.

Clothing Costs

Shopping for Ecuador is something that you will enjoy. With so many clothes here that are sold for a cheap price, you do not have to worry about your monthly shopping expenses. You can already buy a whole outfit worth wearing for a month at $80. There I no need to worry about clothing expenses here because you can be sure that you’d get the best bargains when you are here.

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