Ecuador Seen as New Retirement Hot Spot

[Bacchus4.0]

http://finance.yahoo.com/news/ecuador-seen-retirement-hot-spot-162643839.html



NEW YORK (Reuters) - When Connie and Mark Pombo decided in 2010 to retire abroad, they searched for locations online. Ecuador seemed to have everything they wanted, so Mark, who had recently retired from the United Parcel Service, flew south to visit.

He was impressed. Three months later, the couple sold their Lancaster, Pennsylvania, home and packed their suitcases. Two years later, the Pombos live on a $600 monthly budget, which includes their $200 two-bedroom rental overlooking the Tomebamba River in Cuenca, a town in the sierra of the Andes Mountains.

They love their scenic and affordable lifestyle. "I could never go back to the U.S.," says Connie, 56, a semi-retired freelance writer. "The prices just rattle my brain."

In the last five years, the South American country, sometimes known for its shamanic healing, has become the top hot spot for bargain-seeking retirees like the Pombos, according to International Living magazine's 2012 Global Retirement Index.

[

[COLGATE4]

1. I lived and worked in Ecuador for four years

some time ago. It's a lovely country and the cost of living is relatively much cheaper than in its neighbors. There are however some drawbacks to an expat who wants to take up residency there. First, the quality of medical services is not up to snuff, even in Quito, the capital. Second (and to my way of thinking more important), Ecuador tends to be quite xenophobic. That can translate very rapidly to laws which can severely impact a foreigner living there. (Ex - in my last year there all US male citizens were required by law to register for the draft with the Ecuadorean army! If you didn't have the appropriate paperwork to show you did it, you couldn't leave the country). It's worth a shot, but don't expect it to be a Garden of Eden, either.

[Bacchus4.0]

2. i lived there a few months just a couple of years ago

been back several times since. very inexpensive, US dollar.

I would likely live in Cuenca or perhaps on the coast but it sounds like the expats are moving into their own little communities. I met a couple of people who were looking to live there. lack of Spanish skills doesn't seem to detour them much, just like here in this forum I guess.

Cuenca offers the weather and is sufficiently large to have necessary services for older expats. although I would prefer a climate like Medellin Colombia but Cuenca is pretty decent and the city itself is beautiful. Ecuador and Peru have the best food in latin america IMO. (with the exception of beef)


I might do this later on, Ecuador is an option. It is certainly inexpensive. Peru and Colombia would be options too. Colombia is getting pricy. Peru is still good.

[regnaD kciN]

4. Actually, if you read the blogs at the link I give below...

...you'll find most U.S. expats in Cuenca don't live in their own enclaves. Sure, there is one apartment tower there known as "Gringo Palace," but most of the people who blog on that site live in scattered places throughout Cuenca, and seem to associate with native Ecuadorians more than with other U.S. retirees.

Although my wife is Colombian, I wouldn't look to retire there. For one thing, I don't really want to live in a right-wing police state, even if its policies would be friendly to well-off (by comparison to the rest of the population) Gringos. Plus, despite the purple prose coming from some magazines and websites on the subject, the violent crime rate in Medellin has been going back up in recent years.

As mentioned above, I'd be somewhat leery of believing all I read in publictions such as International Living and websites like those run by that magazine and Kathleen Peddicord. From all accounts I've read, those "overseas retirement experts" tend to paint a way-too-rosy picture of overseas destinations, and then tend to funnel people to lawyers, real-estate agents, and other "advisors" in those countries whom they can "recommend" (kickback city, anyone)? If you get their mailings, you'll find that they tend to be wildly over-enthusiastic about one particular place or another for a couple of months, then move on to other places in the world for a similar amount of time, and eventually go back to raving about places they've already covered. It's almost like you can tell when their check from the tourist bureau for such-and-such a city finally arrived.

[Bacchus4.0]

6. thanks good to know. I wouldn't choose Medellin either, I just like the climate

I think one of the mid-size cities like Ibague, Bucaramanga, Pereira or Manizales might be a good options.

I've never been concerned with politics when traveling to Colombia.

on the other hand, while Venezuela could be a retirement destination down the road, not under the conditions like today. for me anyway.

[flamingdem]

7. So true about Kathleen

I learned about her from ex-pats and checked out her newsletter. She has been pushing Medallin without being honest about the rising crime rate. She is all about charging thousands to hard sell retirees at conferences. Very disappointing to see someone willing to lie to people who probably don't know how to get a full picture on their own.

The truth is that retirement in a Latin American country is very dicey. If you don't pick up TB in Chile, get robbed in Colombia or Mexico, or have to be evacuated by a helicopter to get decent medical care (in many places) then you'll spend untold amounts on airfare. You can't count on investing in a home because the world economic picture is cloudy.

Having said all that I'd love to learn about expat communities that are safe and have really interesting people rather than those just in trouble with their retirement funding.

Those places, I imagine Costa Rica is one but have no real idea, are pretty expensive.

[COLGATE4]

9. I agree. We lived in Medellin for

almost 20 years and you're right - the climate is awesome, the city beautiful and the people are amazing.

[regnaD kciN]

5. Apparently, medical services in Cuenca are now quite good...

...to the extent that the local government is setting up "medical tourism" arrangements for U.S. residents. In other cities, it appears YMMV, but Cuenca seems to be home to a quite a number of excellent hospitals and specialists, possibly because it's home to many universities and medical schools.

[regnaD kciN]

3. If you want more information about retiring in Ecuador...

...check out South Of Zero, an index to blogs from U.S. expats down there (including Connie Pombo). Lots of good information.

[flamingdem]

8. Memories of Cuenca

Back in the 80s I passed through Cuenca for a night. It was a most unremarkable city, kind of border townish. I had been in Otavalo and a beautiful little town with waterfalls, both stops on the Lonely Planet trail I think.

Has Cuenca developed in some special way? What is the income source -- is it tourism now?

Equador seemed like one of the least violent countries in South America. Colombia was the most beautiful and most scary, some narrow escapes there, as well as Peru where the police were corrupt and the locals hostile in places.

[Bacchus4.0]

10. Cuenca is a World Heritage city, its one of the best examples of colonial

arquitecture in South America. add to this the mountain setting and it is quite remarkable. you sure you are thinking of Cuenca??

[flamingdem]

11. Maybe not!

I'll have to get out a map and try to retrace my steps.

One town was full of unique architecture and waterfalls, but it was such a small town.
Maybe that was Cuenca and I mixed up the names. Yes, that was a lovely place.

[Bacchus4.0]

14. p.s. Cuenca is a relatively large city. third largest in Ecuador

I believe it has a good half million. I assume that is one of the draws for expats, it has the services and activities for retirement life. you would definitely remember if you had been there.

[flamingdem]

12. The town was Banos

near Cuenca. So I did pass through Cuenca coming from Banos. I believe that we didn't get to see the town and that meant the bus station area only. I think I was sick. Or I'm mixing it up with a border city with Peru, will have to check.

In google images it looks amazing.

[Bacchus4.0]

13. hmm Ba~nos is just south of Quito and the road would loop around to go to Otavalo to the north

both of those towns are pretty close to Quito. within two hours. Ba~nos is actually quite trendy and beautiful with the volcano looming above. Cuenca is quite a bit further down south on the way to Peru from Quito.

Machala is closer to Peru and the coast. and Huaquillas or something like that is the border town. thats banana country and other than the seemingly endless banana plantations pretty blah.

[flamingdem]

15. I might have gone through Machala

That rings a bell.

Banos was exceptional but there was a story about a missing American woman, that had just happened when I was there. At the same time as a missing woman in Peru. Just now I googled about missing tourist, wondering what had happened to her and found threads about a British woman who was killed there in 2006 apparently by a hotel worker.

When I was there there was a very creepy feeling probably due to the missing woman. People were not too friendly.

Otavalo of course was very easy but too touristy. Some very nice restaurants.

It looks like real estate prices are going up in Cuenca, it has been discovered by the sharks.

The draw about SA is that the prices are generally still reasonable. If you're not Latino I think it's going to be problematic, moreso
if single. I'm referring to crime mainly which seems to be of concern on the expat blogs there.

I'd be most curious to know what cities have the lowest crime, especially anecdotal reports by expats.

[Bacchus4.0]

16. probably was Machala. i think its the 4th largest city but no particular reason to go

unless you were traveling to or from Peru and needed a break. I've only traveled through it.

I was just in Vilcabamba in way southern Ecuador. a really pretty town in coffee country. apparently expats are moving there and land values of course are increasing accordingly causing some friction.

I assume crime is low but the town is too small for my taste unless I owned a finca or something.

I recall getting a huge plate of chinese food in Otavalo for two bucks.

gringos are targets, I think its pretty hard to get away from it completely but those smaller cities like Cuenca or Manizales Armenia Colombia or Merida, Ven are probably going to be alot better than Quito, Medellin, or Caracas.

[flamingdem]

17. That makes sense

It would be wise to avoid larger cities. One marker for safety could be less polarization of income. For instance Belize and in some Caribbean countries things are more equal - expat / local - and that would be a better scene for long term. Of course those two locations are very well discovered. Belize still has some amazing areas and lots of beach areas that aren't cheap but aren't through the roof yet.

[regnaD kciN]

18. Actually, there are TWO towns named Baños...

...one near Cuenca and the other near Quito.

[Zorro]

19. There's a paradise between Banos and Puyo on the way to the Amazon basin

A rickety cable car ride across the Rio Pastanza drops one off in a remarkably scenic clearing amid the slopes around Tungurahua.

The area abounds with beautiful tropical flora and fauna, and the nearby waterfall keeps the temperature and humidity delightfully moderate.

I found it such an extraordinary place I tagged its GPS coordinates: 1°24'27.54"S 78°19'23.94"W

Highly recommended if anyone ever travels to that area.

[Zorro]

20. Retiring to Ecuador may sound quite appealing, but...

there are serious drawbacks: crime and corruption.

There is a reason why many homes have electric fences atop surrounding 10 foot high walls. The larger cities have modern US-style shopping malls, but they are shopping malls with guard towers in the parking lots and heavily armed guard patrols walking the mall corridors. And they don't hesitate to use their weapons.

It is quite a shame that personal security has deteriorated so much in this once relatively peaceful country. A lot of the problems are reportedly related to dollarization and the influx of drug cartel money and associated Colombian criminal elements.

[flamingdem]

21. That's good to know

I was beginning to think about the wonders of Ecuador (though Colombia is more spectacular imo).

The same thing happened in Central America and of course Mexico. Honduras is considered to be the most violent country in the world, I think, at the moment and Guatemala has a very high homicide rate. Una lastima.

[regnaD kciN]

22. It also varies greatly from area to area...

For example, when it comes to cities, it is advisable to avoid Guayaquil. Many of the retirees on those blogs recommend that, since there's no way to fly direct to Cuenca, and most such flights have an overnight stopover in Guyaquil, that you have an hotel booked for that overnight in advance, and only take the hotel's shuttle bus while leaving the airport; it can be dangerous to take a taxi, as you don't know who exactly is driving it.

[Bacchus4.0]

23. you can fly to Quito instead and catch a flight onward to Cuenca

you don't have to go through Guayaquil.

[regnaD kciN]

24. True, but from what I've read...

...nowadays, more flights from the U.S. go through the latter, so it's more convenient for many travelers.

[Bacchus4.0]

25. could be, but if you fly to Guayaquil en route to Cuenca

you would likely get on another plane, likely to Quito and then back to Cuenca. I don't know think the airlines fly Guayaquil Cuenca direct since they are so close air miles wise. Its a 4-hour bus ride to Cuenca. express van services probably a little quicker.

if you're a tourist, I would assume you would want to go to Quito anyway. there is no reason to go to Guayaquil really unless you have to. its not horrible, been there several times, but not a tourist destination.

[Zorro]

26. Pretty sure there are flights between Guayaquil and Cuenca

I took one several years ago -- quite an interesting experience. As we taxied down the runway every Ecuadorean on board was crossing themselves and saying prayers. And when we landed they all applauded.

Motor vehicle travel between those two cities can also be very memorable. Although the road is relatively good, it gets extremely foggy along the way -- and I mean pea soup thick fog. It makes for quite an adventure, since the road tends to have no center stripe or guardrails to give one a frame of reference, and there are thousand foot drops off the side of the road.

[Bacchus4.0]

27. yeah, that is a fairly standard tradition on air flights in latin america

I've taken the Cuenca Guayaquil route a few times as I lived on the coast and had to go through Guayaquil for the connections. its a 4 hour ride. never flew before.

yep the fog in the mountains is certainly thick.

[regnaD kciN]

28. Actually, they do fly Guyaquil-Cuenca...

The problem is that just about every flight from the U.S. to Ecuador, whether to Guyaquil or Quito, arrives at night, after the last of the domestic flights to Cuenca has left. There's virtually no way to get from either to Cuenca without spending a night there, unless you want to charter a van to drive you overnight (which, as indicated here, can be an adventure all its own).

[Bacchus4.0]

29. ok makes sense of course, the first and third biggest cities. I just never did

and recall looking into it but flights went through Quito so bussing was just as fast. for the tourist it makes more sense to fly to Quito and visit and from there Cuenca. Guayaquil doesn't have too much. the malecon and the area around the light house, Las Pe~nas, is decent.