A promising location for software outsourcing development due to a strong education system and the availability of highly skilled programmers and developers.
Talent Pool & Education
E-commerce has boomed during the pandemic, with mobile delivery app sales increasing 15-fold. Tech companies tipped to continue an upwards trajectory include e-commerce platform TecnoMega, independent service network Broadnet, and IT services integration specialist Dos. Ecuador is a world leader in early entrepreneurial activity according to a recent Global Entrepreneurship Monitor (GEM) report, but many startups and small businesses still face economic and political challenges to scale.
The primary language is Spanish; however, the penetration of English is high.
The Central Bank of Ecuador expects the nation's battered economy to grow by 2.8% in 2021, as long as a $6.5 billion financing arrangement with the International Monetary Fund (IMF) remains intact. The oil-exporting nation was already weak before the coronavirus outbreak, which has left half a million people unemployed. The government is driving hard on the vaccine rollout and seeking to boost private investment in the oil sector.
Conservative businessman Guillermo Lasso won a surprise victory with his orthodox economic agenda in the April 2021 presidential election. This marks a swing away from the leftist policies championed by former president Rafael Correa. Local political commentators said it appeared Ecuadoreans were prepared to give Lasso a chance after he portrayed himself as more of a “father figure” who could bring the country together.