"La Puntilla" is known as the home of many of the rich and powerful of Guayaquil, including banana tycoon and several-time presidential candidate Álvaro Noboa, Ecuador's richest man. But much the canton is in fact rural and poor, and most of its inhabitants live from the cultivation of rice. Nevertheless, the mayor (who himself lives in Guayaquil) has done a lot to improve their situation and his policies are intended to benefit poorer inhabitants of the canton, as well as the richer inhabitants. Several improvements have been made to the area recently.