In 2022, 19,601 companies were created, that is, 19% more than in 2021, according to the Superintendency of Companies. In 2022, a total of 19,601 companies were incorporated in Ecuador, which represents a growth of 18.7% compared to 2021. This is reflected in the statistics of the Superintendence of Companies, Securities and Insurance. The percentage […]
Ecuador has experienced a rise in risky migration. Migrants are taken advantage of by trafficking mafias, and in many cases, there are no sentences against the coyoteros. In 2021 and 2022, the Ecuadorian Prosecutor’s Office registered 286 investigations for migrant smuggling. Roughly 80% of those cases are still in the early investigation stage and there […]
Investment banks JP Morgan and Morgan Stanley warned that the results of the sectional voting weakened the government of Guillermo Lasso. The results of the sectional elections in Ecuador and the 2023 referendum are fueling fears in international markets of an early end of the Guillermo Lasso mandate. Two US investment banks, JP Morgan and […]
Free trade agreements and the economic recovery after the pandemic are some of the factors that will influence foreign trade this year.
Update to: Minas de Huascachaca wind farm begins to generate energy Published: Volume 7, Issue 13 The Huascachaca wind farm, the largest in Ecuador with a capacity of 50 megawatts, is in the final stages of conditioning and testing to start operating in the first quarter of this year, announced the Ministry of Energy and Mines. On […]
Cuenca’s tourism sector has come back fast after the end of the pandemic. One of the engines for its success has been private investment in hotels and restaurants. Hotel and gastronomic entrepreneurs have invested large sums of money to give Cuenca a tourist boost....
The largest private money investments in Cuenca since the start of the pandemic have come from three groups: Corporación Favorita, Grupo Ortiz and the Conorque company. One of the most important is the construction of a Megamaxi, the first in the city. Three economic groups have invested in Cuenca in the last five years to […]
The regulations, which are already in force, promote equal pay between men and women in companies and shared maternity leave.
Update to: Cuenca triples security spending in a year with rising crimes Published: Volume 7, Issue 12 In one week, police arrested three criminals who stole two vehicles and kidnapped their owners. Police warn to be careful when selling cars online. In two operations, the Police arrested three people in Cuenca involved in the alleged […]
The president of the Supervisory Commission of the Cantonal Council spoke about the inconsistencies detected by assembly members in the contract signed for the implementation of electronic radar devices in Cuenca.
“You like me, you really, really like me!” If you ask, most people who remember her will tell you that Sally Field said this in her second Academy Award speech, after winning Best Actress for Places in the Heart. But they would be wrong. What she actually said was, “I haven’t had an orthodox career, […]
With its own coastal waters depleted, China has built a global fishing operation unmatched by any other country.
Scientists have identified a tiny new species of dwarf boa living in the Ecuadorian Amazon that even a snake hater could love: these small reptiles are just a foot long. Alex Bentley, research coordinator of the Sumak Kawsay field station, in the eastern foothills of...
Despite the operations, illegal mining is taking hold in La Merced de Buenos Aires (Imbabura) and in three cantons of Napo.
The ANT issued a regulation on the requirements for pets and other assistance animals to travel with their owners on public transport. One of the obligations is that they have an identification collar.
Roughly 4.3 million passengers were transported on national and international flights through Quito’s Mariscal Sucre Airport in 2022.
The head of the Special Commission tasked with proposing reforms to the IESS pension system discusses the needed contributions of the State, affiliates and employers. The time to make the reforms required to give sustainability to the pension system of the Ecuadorian Social Security Institute (IESS) is running out. This according to Augusto de la […]
The reform includes the creation of a disciplinary regime, which establishes offenses and sanctions for inmates who commit offenses. It also modifies the criminal types of extortion, intimidation, robbery and others. The legal reforms on security finally made it out of the Assembly. The legislators approved the so-called Comprehensive Security Law in a second debate, […]
What changes were decreed by the President and how will they be applied? This year will bring reductions for some taxes in Ecuador. On the night of January 10, 2023, President Guillermo Lasso announced that the Value Added Tax (VAT) will be reduced on three holidays,...
I love NFL football. Love it. I watch as many games as I can during the season. And I’m constantly amazed at how athletic the players are now. Without fail, in almost every game, someone makes a play that even the game announcers can’t believe. Case in point, last night pay-by-play commentator Chris Collinsworth—who himself […]
The Minister of Finance, Pablo Arosemena, confirmed that the State will issue blue bonds in 2023. The operation will allow the expansion of the Galapagos marine reserve. According to the Minister of Finance, Pablo Arosemena, the Government will follow thru this year on its promise to issue blue bonds to finance the expansion of the […]
The Cuenca Cantonal Council approved a new Land Use and Management plan, in which new spaces for the industry are identified. At the beginning of 2023, Cuenca will have a total of 341 hectares of industrial land, almost double that of 10 years ago, when the Territorial Planning plan registered 163 hectares for industry and […]
Remittances are a liquidity option for Ecuadorian households, which use these resources to pay for basic services. The remittances that Ecuador receives from citizens working abroad totaled $4.468 billion in 2022, according to the forecast of the World Bank. This represents 3.87% of the Gross Domestic Product (GDP). This figure is higher than tourism, which […]
Economists and multilaterals predict growth rates between 2% and 3%. In recent years, the Ecuadorian economy has experienced low growth. In 2023, that trend will continue. International and national organizations estimate that the growth of the Ecuadorian economy in 2023 will be between 2 and 3%. However, these projections could change depending on what happens in the coming months — as happened in […]
Update to: More than 9,000 olive ridley sea turtles born in Esmeraldas Published: Volume 5, Issue 16 Park rangers from a refuge in Manabí reported the birth of 11,580 sea turtles of the “olive ridley” and “green” species on the beach of San Lorenzo. The Ecuadorian Ministry of the Environment announced that it has detected […]
At the end of the most violent year in Ecuador’s history, Juan Zapata, Minister of the Interior, analyzes the causes of the security crisis. In 2022, Ecuador closed with around 25 deaths per 100,000 inhabitants. According to Juan Zapata, Minister of the Interior, most of these homicides were registered in the provinces “that are on […]
The young people left for the United States in mid-2022 and their families have not heard from them. They paid ransoms to alleged kidnappers. Among the dangers faced by Ecuadorian emigrants on their journey to the United States are various criminal groups operating in...
The first batch of spare parts for the main tram systems is running out. The Municipality of Cuenca has been trying to buy a new lot for a year.
On our drive back from Cuenca this week, it became clear to my wife and I that elections were coming up in February. Not because we read about them. Or because we knew when elections occur (like we do in the US). It was because of all the posters, banners, signs and other advertising that […]
According to the Central Bank, household consumption represents about 65% of Ecuador's Gross Domestic Product (GDP). The Gross Domestic Product (GDP) of Ecuador grew 3.2% in the third quarter of 2022, mainly due to an increase in household consumption. Family spending...