The second larger item in the Ecuadorian Budget after oil exportations is the amount received from immigrant people living abroad. These monies created an important niche of strategy: money transfer services rendered not only by banks but also by other smaller financial institutions in Ecuador which have correspondent agreements for transfers with similar companies located mainly in USA, Spain and Italy. To affirm above mentioned, in example, one of those companies has been growing more than 210% during a year and a half period in this activity.
Lack of local employment opportunities has pushed Ecuadorians to seek other means to have a salary and get sources of income for their families. Immigration has become the main source to find a job. While social reality has been affected, financial background of those families has been improved last years. Ecuador’s southern region has developed construction sector more than other regions has done and has increased demand of retailing banking
