Economy and Investment

The economy of Ecuador has revealed a steady growth after changing the currency to USD following the collapse of the local currency in January 2000, and has realized a number of achievements such as non-recession during the global economic crisis of 2009, which may be attributed to the non-existence of a local currency. Ecuador has focused its efforts to vary energy mix and increase the public investment in infrastructure, hydroelectricity, roads, airports, hospitals, schools, etc.            

The economy of Ecuador is the third-strongest economy in South America, with annual growth rate of 7% of Gross Domestic Product (GDP). It has highly productive and bilingual workforce. There are many companies which has invested in Ecuador in the various productive and industrial sectors such as CBC (Guatemala), ARCA (Mexico), PETRA FOODS (Singapore), SURPAPEL (Chile) and GREAT WALL (China). Moreover, there are many multinational corporations in Ecuador such as Coca-Cola, McDonald’s, Samsung, HP, Chevrolet and more. Public investment, infrastructure, academic quality improvement and the Judiciary, among other things, had caused the figures of the country’s macro-economy to improve, which made the Republic of Ecuador an attractive destination for the foreign companies.