How to Make Money in Ecuador

How to Make Money in Ecuador-Lots of guys dream of leaving their dull, stressful life in the USA or Europe, and starting over again in Ecuador. Whether they are looking for a lower cost of living, the chance to experience a more sensual, laid-back culture, or even to find love, Ecuador is a great destination.

But unless you are just coming for a short visit, are independently wealthy, or are retired with a decent pension, you’re going to have to find a way to make money in Ecuador. It will require a little ingenuity, but with the help of this article, and some hard work, you’ll be on your way.

So let’s get to the first question you need to answer:

How Much Do I Need to Earn?

The amount you need to earn varies a lot, depending on where you live and the lifestyle you are trying to attain. Here in Cuenca, a single person can get by okay on just over $400 per month, plus rent. And rent for a one-bedroom apartment should be less than $400 per month as well. Quito is roughly 20% more expensive than this. So $1100 per month should be more than enough in most cases.

With that basic information under our belts, let’s move on to:

What Ways Can I Make Money in Ecuador?

There are a few ways to make money in Ecuador. The amount you make will vary greatly, depending on whether your income is sourced in Ecuador or outside of Ecuador. 

Income Sourced in Ecuador

If you get a job working for an Ecuadorian company, the pay is going to be low. For example: the International TEFL Academy says that the monthly salary for someone to teach English would be in the $500 - $700 range. Note this is a monthly salary. Of course, if you work as an engineer or some other high-end profession, you can make more, but it still won’t be a lot.

Remember too that the economy in Ecuador isn’t very strong. It is hard for a foreigner to get a decent job working for a company in Ecuador. This isn’t really a good option.

Income Sources Outside of Ecuador

If you want to make good money, you’ll want to get your income from a source outside of Ecuador. That means working for a company that will send you here to work (while paying you what they would pay you back home) or doing work for clients outside of Ecuador.

There isn’t really much I can say about getting a company to send you to work in Ecuador. Those situations are unique, but can be incredibly lucrative if you can find one.

Mining is one field where this might be possible. Ecuador recently opened up to outside mining companies after several years of blocking new exploration. There are quite a few Chinese and Canadian companies exploring and developing Ecuador’s mineral resources (copper and gold in particular). Those companies typically have at least a few of their regular staff in Ecuador working with, and managing the Ecuadorian work force. If you can score one of those positions, you could really make out.

I can think of two other ways you can get outside sourced income to pay for your life in Ecuador. Here’s a list. We’ll look at each one in more detail after that.

-Work part of the year outside Ecuador, live the rest of the year in EcuadorBe a freelancer

-Work Part of the Year Outside Ecuador, Live the Rest of the Year in Ecuador

Not every job is Monday through Friday, with weekends and holidays off. In some fields the schedules are 1 month on, 1 month off, or 3/3 or 6/6. If you can land one of those kinds of jobs, you can rack up the money while you are working, then live cheap in Ecuador for your time off. You might have to work like a dog when you are working, but that would more than pay for your down time, particularly in an inexpensive country like Ecuador.

Another interesting perk for many jobs like this is the travel. As part of their efforts to get enough people to fill these tough (dirty, maybe dangerous) jobs, many companies will fly you to or from anywhere you want when you are off duty. In theory, you could do something like work part of the year ​on an offshore oil rig, and easily earn enough money to live the rest of the year in luxury in Ecuador. 

I’ve never worked like this, but there are thousands of people who do it. Perhaps the biggest problem for using this kind of work would be getting the appropriate visas. See this post for the latest information on a visa that might do the job for you.

​Be a Freelancer

Doing freelance work on the Internet can be a great way to make enough money to support your life in Ecuador. This is the kind of work that pays for my life here. Some people look down on this kind of work, but they really shouldn’t. This is the way the world is going. Regular, full-time jobs are disappearing around the world. Contracts, “gigs,” part-time, and freelance work are replacing them. I’m not saying this is good or bad, but it is the wave of the future.

And believe it or not, you are probably well-qualified to work as a freelancer. Think about it. Have you ever done work that involved typing at a computer? Created any videos? 

Read something out loud? Taught a course? Translated something to another language? Done Marketing or PR? Worked as an Administrative Assistant? Put in some time in a law office? Taken a picture (or two or two thousand)? Done Customer Service or Phone Support?

Experience with any of these jobs (and hundreds more) can be turned into an online freelance business. 

​My Example

Here’s an easy example:

I used to work as a technical writer for various startups. After the dot comm bust, I started doing more and more work as a freelancer. I wrote documentation for startups. Computer books on contract to various publishers. I started creating online courses. Building affiliate websites. Reviewing products for online stores. Ghostwriting books for people who had something to say but couldn’t (or didn’t want to) write the books themselves.

Somewhere along here, I realized that I was making enough to stop working regular jobs altogether. Particularly if I were to move to someplace with a lower cost of living, such as Ecuador.

Think about what you could do as a freelancer. Start doing it on the side while you are still working your regular job. It will be hard, but you will be much better off to have work lined up before you hit the road for South America.

Now I know writing is a particularly popular form of freelancing, but honest to god, there are hundred of thousands of freelance jobs out there. You just have to know where to look.

How Do You Find These Jobs?

There are lots of ways to find freelance jobs. But I think the best way to start is to sign up at one of the big online job agencies like Upwork​. They typically have tens of thousands of jobs listed at any one time. There are even several courses on how to make a good living freelancing through Upwork!

​While it isn't perfect, Upwork is a great place to get started freelancing. Once you have a number of jobs under your belt, you will likely have a stable of customers who will keep you as busy as you want to be. If not, you will have the experience and the portfolio to try other freelancing sites or even hustle up business on your own.

In Conclusion...

Making enough money to live in Ecuador need not be difficult, but it will take some thought and effort. And it is likely that it will take you at least a few months to build up the kind of income that you need.

So be smart, and start working on getting the jobs you need well before you leave for Ecuador. Imagine how much it would suck to find that you love it here, then have to leave because you ran out of money.

If you get started right away with the money end of things, you could be living in Ecuador very, very soon.

Look me up when you get here!