Globalisation in Ecuador
Globalisation in Ecuador
Introduction
Globalisation is “the process enabling financial and investment markets to operate internationally, largely as a result of deregulation and improved communications". In other words. It is the process of increasing the connectivity of the world’s markets and businesses. In the last two decades this process has had a huge impact around the world. For example, as technology advances make it easier for people around the word to travel, communicate and do businesses around the world.
Ecuador’s Background
Ecuador is a democratic republic in South America, bordered by Colombia on the north, Peru on the east and south, and by the Pacific Ocean to the west. Main spoken language is Spanish. However, the Native Indian Ecuadorians have their own language which is “Quichua”. Ecuador 's economy has heavily depended on exporting resources such as petroleum, fish, shrimp, timber and gold. In addition, it has rich agriculture: bananas, flowers, coffee, cacao, sugar, tropical fruits, rice, roses, and corn. Ecuador’s population according to the last census is of 14 million and has an area of 272,046 km2 (105,038 sq. mi). Its capital city is Quito, which was declared a World Heritage Site by UNESCO in the 1970s for having the best preserved and least altered historic centre in Latin America. However, the biggest city in Ecuador is Guayaquil and it is where all the Economic system of the country is controlled.
International Business in Ecuador. There are excellent financial opportunities in Ecuador for commercial and foreign investors. The major businesses to be considered are: telecommunications, mining, energy programs, highways, oil, fishing, tourism as well as eco/ethno tourism, pharmaceuticals and financial services.
Ecuador is a good country to do commercial business because it also has a Democratic Government and four major characteristics of advantage for international business in Ecuador:
1. International Trade/Free Zone:
Introduction
Globalisation is “the process enabling financial and investment markets to operate internationally, largely as a result of deregulation and improved communications". In other words. It is the process of increasing the connectivity of the world’s markets and businesses. In the last two decades this process has had a huge impact around the world. For example, as technology advances make it easier for people around the word to travel, communicate and do businesses around the world.
Ecuador’s Background
Ecuador is a democratic republic in South America, bordered by Colombia on the north, Peru on the east and south, and by the Pacific Ocean to the west. Main spoken language is Spanish. However, the Native Indian Ecuadorians have their own language which is “Quichua”. Ecuador 's economy has heavily depended on exporting resources such as petroleum, fish, shrimp, timber and gold. In addition, it has rich agriculture: bananas, flowers, coffee, cacao, sugar, tropical fruits, rice, roses, and corn. Ecuador’s population according to the last census is of 14 million and has an area of 272,046 km2 (105,038 sq. mi). Its capital city is Quito, which was declared a World Heritage Site by UNESCO in the 1970s for having the best preserved and least altered historic centre in Latin America. However, the biggest city in Ecuador is Guayaquil and it is where all the Economic system of the country is controlled.
International Business in Ecuador. There are excellent financial opportunities in Ecuador for commercial and foreign investors. The major businesses to be considered are: telecommunications, mining, energy programs, highways, oil, fishing, tourism as well as eco/ethno tourism, pharmaceuticals and financial services.
Ecuador is a good country to do commercial business because it also has a Democratic Government and four major characteristics of advantage for international business in Ecuador:
1. International Trade/Free Zone:
References: Bureau of Western Hemisphere Affairs Background note: Ecuador. Retrieved November 29, 2011, from U.S Department of State: http://www.state.gov/r/pa/ei/bgn/35761.htm Theguardian: What is Globalisation?(2002) Retrieved November 30, 2011, from http://www.guardian.co.uk/world/2002/oct/31/globalisation.simonjeffery International Commerce in Ecuador Retrieved November 30, 2011, from http://bestofecuador.com/inter.htm Experimental Climate Prediction Centre (1997). Retrieved November 28, 2011, from http://meteora.ucsd.edu/~pierce/elnino/whatis.html The effect of dollarization in Ecuador. Retrieved December 1, 2011, from http://www.mindspring.com/~tbgray/dollar.htm