Venezuelan households contribute about $900 million each year to Ecuador’s economy through spending on goods and services, while paying nearly $47 million in annual taxes, according to a new IOM study. The International Organization for Migration research shows how migrants drive economic growth when they get access to rights and opportunities. Ecuador hosts roughly 441,000 of the 6.9 million Venezuelans living across Latin America and the Caribbean, creating major potential for further economic benefits.
Government policies helped boost these contributions by improving documentation processes for Venezuelans and expanding access to formal jobs, social security, financial services, and degree recognition. The Venezuelan population in Ecuador skews young and productive – over 70% are working age between 18-39 years old with education levels similar to Ecuadorians. However, barriers still limit their full potential as about 66% work informal jobs despite having professional degrees, and only 30% work in their field of expertise.
Women face even tougher obstacles with nearly 69% stuck in informal work earning less than minimum wage.
“The evidence is clear: when migrants have access to rights and opportunities, they contribute substantially to the societies that host them,” said Kristina Mejo, IOM Ecuador’s Chief of Mission.
She called regular status and fair labor market access a catalyst for growth that benefits migrant families, host communities, and the whole economy.
Similar IOM studies across the region confirm migration’s positive impact. In Panama, Venezuelan entrepreneurs have invested over $1.8 billion in the past decade and created around 40,000 jobs. The Ecuador study concludes that better labor inclusion and skills recognition would bring multiple payoffs: higher tax revenues, stronger social security systems, and a more dynamic economy driven by consumption and investment.
