There are seven keys to Everlasting Wealth, the first is higher and continual income. Learn one way to increase your earnings here.Money flows to distortions like water runs downhill.
My life has been blessed financially (and in so many other ways) because traveling the globe has made economic distortions obvious. In London real estate prices fell 50% while they doubled elsewhere. In Vienna, the stock market dropped while they were skyrocketing over the rest of Europe. In Turkey the undervalued stock market rose because this was a fulcrum nation. In the Isle of Man corporate formation prices were a fourth of elsewhere. Again and again I have been able to cash in by spotting such markets, products or properties that were undervalued by international levels.
Visiting Ecuador has been no exception. There are so many distortions here. This is the closest source of 365 days a year of direct sunlight to the USA and Canada. Less than four hours from Miami there is bio diversity equal to that found from the equator to the arctic circle. Yet prices of labor, real estate and commodities are extraordinarily low when compared to sunny places in the USA (about 85 cents an hour). Prices are rising now but this is still such an inexpensive place that it is often hard to imagine. For example one of the delegates at our last International Business Made EZ course stayed on and is living in a hostel with private bathroom for $4 per night! He reports it is comfortable and clean. (For details on this hostel send me a note at firstname.lastname@example.org) This morning I took Merri, our business partner and two friends for breakfast at a charming quiet restaurant in the ritziest part of Quito. We had caffe con leche, incredible ripe blackberry juice, rolls with fresh farmers cheese and friend eggs. The bill was $6, not per person but for all five of us! $1.25 each, plus the waiter was delighted when I gave him a dollar tip. This is the price for a delicious lunch here as well!
Distortions are creating opportunities in waves because of two features. First people are afraid of South America due to the economic and political difficulties in Argentina and Venezuela. Ecuador already had its problems. The banks have been broke. Ecuador’s currency has collapsed and the nation has impeached two presidents in less than four years. Now the government is stable, the country paying its debt and the U.S. dollar is its currency.
Second, billions of dollars are pouring into Ecuador because of the other Latin problems. Argentines, Venezuelans and Colombians are moving (and bringing their money) here, not to mention western investments building the new pipeline, Quito airport and privatized expansion of roads, telephone and electricity systems etc.
Today Ecuador has the fastest growing economy in South American and those who get into business now (while capital is still scarce because of Latin fear) will gain a great head start. My head is spinning with so many opportunities I can hardly keep up. I am directly investing and becoming involved in businesses in natural foods, tourism, real estate, produce, timber, publishing and textiles yet I am turning down even more opportunities that I consider great. We can only do so much!
I have recently looked at and liked (but have no time left for) businesses in:
- A golf course and sailing lake.
- A development on a beach where tourism has doubled every year for the past five years (even through the worst downturns) at $1,600 a lot.
- An wilderness eco lodge on 2,500 glorious acres hardly an hour from Quito airport.
- A snail farm (for escargot).*Beautiful hardwood flooring at less than the cost of linoleum in the U.S.
- Magnificent hand carved office furniture that cannot be compared by price because nowhere else in the world does this type of work at really low prices.
- An internet hotel in one of the ritziest parts of Quito and a fiber optics business bringing faster communications down here.
We'll look at all these opportunities, plus many in which I am involved in, plus more at our upcoming course International Business Made EZ March 22-23-24. In the meantime if you have questions about how to start your own international business do not hesitate to write.
These opportunities in Ecuador represent just a small part of what is available around the globe and all this is even more possible now because of a new wave of business created by the internet and an increasingly global economy.
Over the years ahead prices in Ecuador and other under priced nations will rise towards international levels. Those who have come in early will enjoy huge profits.
Whether you do business in Ecuador or some other country you love and whether you study my correspondence or residence courses or not, start look for distortions. They will pull additional income to you like a magnet.
Until next message, good global business and investing. May the next profitable distortion be one that you find!