Impacto de las Remesas en la Economía Ecuatoriana

This article aims to report on the significant impact that remittances have on the Ecuadorian economy, since they are of vital importance in the country's socioeconomic context. Remittances, sent mainly by Ecuadorian migrants abroad, have emerged as one of the main sources of foreign currency. These monies or remittances have reactivated household consumption, increasing purchases of goods or services, contributing to improving the quality of life of the families that receive them. Considering that remittances play a fundamental role in the liquidity of Ecuadorian households, especially in a context of labor deterioration, and have contributed to balancing the balance of payments, they become an essential element for a country without its own currency like Ecuador, which operates with the dollar, offering relief in periods of macroeconomic imbalance. Likewise, remittances boost financial inclusion, as many people have chosen to open savings accounts in order to receive funds from abroad. However, the COVID-19 pandemic had a considerable impact on the flow of remittances to Ecuador. Despite global economic uncertainty and mobility restrictions, remittances proved to be resilient and, in some cases, increased during the health crisis. By 2023, Ecuador experienced a significant influx of remittances, with an amount higher than that recorded in previous years, which has a notable impact on the country's GDP, with these remittances originating mainly in the United States, Spain, and Italy. Quantitative and explanatory research was able to be determined, which focused on objectively and rigorously analyzing the impact that remittances sent by Ecuadorian migrants have on the national economy. This type of research allows not only to measure the volume of remittances entering the country, but also to identify how these flows of money influence various economic indicators such as the Gross Domestic Product (GDP), the rate of household consumption, savings, investment and economic inequality.