Ecuador is an extremely poor country. Thirty-five percent of its population lived in poverty in 1994 and an additional seventeen percent were highly vulnerable to poverty. In addition, rural poverty is undoubtedly more severe than urban poverty.

Is Ecuador a developed country?

Although Ecuador is described as a middle income country, economic development is limited to a narrow range of sectors such as petroleum production. Development lags in regional villages where many indigenous peoples live, and large income and regional disparity is an important development issue.

Does Ecuador have a good economy?

Ecuadors economy has been one of the most stable in Latin America. Ecuador has enjoyed a healthy economy supported by the dollarization regime—the country uses the US dollar for its currency—and high oil prices. However, oil wealth and dollarization are double-edged swords.

Is it safe to live in Ecuador?

Ecuador is a relatively safe country to live in. In fact, there are many places in Ecuador that are safe to live. Some of those places include Vilcabamba, Cuenca, and Cotacachi. But expats settle all over the place, including coastal areas.

Is Ecuador safe to live in?

Ecuador is a relatively safe country to live in. In fact, there are many places in Ecuador that are safe to live. Some of those places include Vilcabamba, Cuenca, and Cotacachi. But expats settle all over the place, including coastal areas.

What language is mostly spoken in Ecuador?

Spanish Spanish is Ecuadors official language of business and government, although there are dialectal differences between Sierra and Costa Spanish; Sierra Spanish has been influenced by Quichua.