High prices make Ecuador lose its charm

Ecuador is the owner of four worlds (islands, mountains, jungle, and beaches), despite its unique landscapes, the lodging and food services have recorded 11 quarters with negative numbers in their Gross Domestic Product, from the third quarter of 2014 until the first quarter of this year (-2.1). This situation prompted the Federation of Provincial Chambers of Tourism (Fenacaptur) to finance a private study of the sector. Prices in Ecuador and other countries in the region were analyzed. Thus, it was found that the accommodation rate in a 5-star hotel in Quito is 96% higher than in Bogota.

The analysis highlights that Ecuador has become more expensive, in comparison with other countries, because of the revaluation of the dollar and the devaluations of the currencies of its neighboring countries (Peru and Colombia). But, the study tries to go further and considers that a high price of a hotel is not always a preponderant reason for a market slump, other aspects (security, quality, etc.) that a traveler considers to choose a destination are also important. (I)