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Simeon Mitropolitski

Simeon Mitropolitski is a Canadian analyst, of Bulgarian origin, and a former syndicated columnist with the Bulgarian News Agency (BTA). He is the author of several hundred articles dealing with hot political and economic topics, both national and international.

He was part of the first group of Bulgarian intellectuals and students that began the opposition movement that finally put an end to the communist regime in this country in 1989, and in 1996-1997 participated in international observation teams during the elections in several Balkan countries - Romania, Albania and Bulgaria.

In 2002 Simeon and his family moved from Bulgaria to Canada where they live now in Montreal, province of Quebec. Simeon is a Master of Political Science from McGill University and a B.A. of Political Science and History.

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20 March 2003

El Salvador: A New Paradise?

© 2003, IRED.Com, Inc., Simeon Mitropolitski

El Salvador, called by the poets the Land of Volcanoes, can't surprise the foreigner accustomed with the life in Central America. There are very rich and very poor people living there as in any other neighboring country. The criminality is a big problem when you don't have private bodyguards, but it isn't higher than in the neighboring Honduras. The administration is corrupted, some say, but how many Latin American countries are immunized against this illness? The country experienced a civil war during the 80's but how many countries didn't in the past in this region or in the south. The natural hazards like volcano eruptions, earthquakes and hurricanes are common but that's true also for many other countries around. Can El Salvador like Costa Rica or Panama earlier become a paradise for the people approaching their retirement? The facts about this country and some recent developments show that it's too early to predict a bright future for El Salvador.

One of the main reasons El Salvador can't successfully compete with some other countries in the region in terms of attracting foreigners are the property prices. The country is relatively small with relatively big population, which results in a shortage of land for development. Most foreigners prefer to buy or rent in very limited areas in the capital city of San Salvador and in the surrounding districts, where the rate of criminal activity is relatively lower. In fact these foreigners have to compete for space with the local highest classes. The prices there for 3-4BR houses on 1/2 acre lots begin from $100,000-120,000 and the rents from $900-1,000. In the surrounding areas the homes with back yards can be purchased between $50,000 and $90,000. Condos could be bought for $30,000 and the rents start from $250 per month.

The prices seem to be higher than the average in Panama or Costa Rica, but the quality of life in the country falls far behind. Almost half of the population is below the poverty line. Power outages are common event. It's highly recommended to use surge suppressers with all important electrical appliances or electronics. Certain areas of San Salvador at night and some rural areas of the country around the clock aren't safe for the average visitor, which further limits the supply of quality housing.

When we talk about some recent developments that can worsen the situation, we mean the gaining political ground by the former leftist guerrillas. They could become the largest party in the new national assembly and also to become the biggest political player on municipal level. Given their political heritage it wouldn't be wise to relocate for a time being to El Salvador.

Country profile:

  • Area: 21,040 sq. km
  • Coastline: 307 km
  • Population: 6,353,681 (July 2002 est.)
  • Life expectancy at birth: 70.32 years
  • Ethnic groups: mestizo 90%, Amerindian 1%, white 9%
  • GDP per capita: purchasing power parity - $4,600
  • Population below poverty line: 48%
  • Main trade partners: US, Guatemala, EU, Honduras, Mexico.
  • Main exports: offshore assembly, coffee, sugar, shrimp, textiles, chemicals, and electricity.
  • Internet users: 40,000 (2000)
(Source: CIA - World Factbook 2002)

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See also the directory of companies providing real estate services in, and general real estate information of El Salvador.

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