Studying in Ecuador: Costs and Financing
There is a fee to study in Ecuador, a country located in Central America according to transporthint. The amount of the tuition fees differs considerably depending on the type of university and course of study. At the public universities, the fees are much lower compared to the private ones. For international students, studying is usually always more expensive than for locals. However, this has to be seen in relation to the fact that Ecuadorians earn far less than Europeans or Americans. Foreigners should calculate about EUR 600-4,600 in tuition fees per academic year.
Accommodation
Most Ecuadorians live with their parents during their studies. Accordingly, the number of student dormitories in the country is rare. Since the few places are very popular with foreigners, you should register for a place in good time with the international office of the respective university of your choice.
You have more contact with the locals if you choose a host family. The Ecuadorians are considered to be very hospitable. A room costs the equivalent of around EUR 100 per month. If you prefer to rent your own small apartment, you have to calculate the equivalent of around EUR 100-200.
Scholarships to study in Ecuador
Various foundations and organizations offer financing options for studying in Ecuador. The DAAD offers as the PROMOS scholarship for talented applicants. On the part of the federal government, there is a foreign BAföG, which is independent of domestic funding and can be paid for up to 12 months. You can also apply for a student loan.
Ecuador Economy
Ecuador’s natural resource: petroleum
The economy of Ecuador is dependent on only one raw material: oil. Although Ecuador is only in 29th place in the list of countries that produce oil, oil generates more than half of the export revenues. 27 million tons of crude oil were produced in 2012. However, if the price of oil falls, this has an immediate negative impact on the Ecuadorian economy.
Crude oil is produced almost exclusively in the northeast of the country, for example around Nueva Loja. The oil produced is transported to the Pacific via two pipelines. Both end there in the town of Esmeraldas, where it is refined and shipped. Ecuador is a member of OPEC, the Organization of Petroleum Exporting Countries.
However, the extraction of oil also brings with it many environmental problems. Forest is cut down so that the oil can be extracted at all. It also happens that crude oil seeps from broken pipes and thus poisons the environment. The water is polluted and the soil is poisoned. Such environmental pollution occurred particularly often at the Lago Agrio oil field. For the people who live here, oil is therefore not a treasure, but rather a curse.
Bananas and flowers
Other important goods for export are bananas, metal goods and shrimp. Bananas are mainly loaded in Puerto Bolívar. Ecuador is the fourth largest banana producer in the world. For cut flowers, especially roses, Ecuador is the fourth largest exporter in the world. The main buyers are the USA and Russia. Cocoa and coffee are also sold, but their importance has diminished. After all, Ecuador is still the seventh largest producer of cocoa. Gold is mined in the southeast of the country.
Pay? With the dollar!
By the way, in Ecuador you pay with the US dollar. In 2000 the Sucre’s own currency was abolished after a severe banking crisis and high inflation. This is also called dollarization. The economy has been growing again since then.
Remittances from Ecuadorians living abroad go a long way in helping relatives back home. After all, around one million Ecuadorians live abroad.
The Panama hat comes from Ecuador
The Panama hat is traditionally not made in Panama, but in Ecuador! Montecristi and Cuenca are the cities where most of the hats are made. They are woven from the straw of a type of palm and are light in color. In the past, the hats were brought to the USA via Panama and therefore received a customs stamp from Panama. Or maybe they got their name because the workers wore such hats when building the Panama Canal. And US President Teddy Roosevelt also wore such a hat when the Panama Canal opened.
The areas of the economy
Agriculture
Only 6.7 percent of economic output is generated in agriculture. 26.1 percent work in this area. Most important are the large plantations in the coastal region, which produce bananas, cocoa, coffee, sugar cane and cut flowers for export.
Fishing is also of great importance because of the rich fishing grounds of the Humboldt Current. Herring, tuna and shellfish, such as the prawns grown on large sea farms, are also exported.
On the sierra only agriculture and livestock farming are carried out for their own market or for self-sufficiency. Traditional products such as cassava, corn, potatoes, legumes, vegetables and the wheat brought into the country by the Spaniards are in the foreground. The increasingly popular rice comes from the coast.
Industry
Industry contributes 32.9 percent to the economy. 18.4 percent of the people work here. There are factories for processing petroleum, food, clothing, wood, metal and chemicals. Most of the industry is based in Guayaquil and Quito.
Services
The services generate 60.4 percent. These include banks, hairdressers, restaurants, hotels, electricity and telephone providers. 55.5 percent of the working population are employed in this area.
Tourism is on the up. A ride on the reopened railway is particularly popular with tourists. In 2013, 1.36 million visitors came to Ecuador. Around 200,000 tourists visit the Galápagos Islands every year.
