By Yucatan Times on March 3, 2019
Morgan Hill, California – A new “Expats In Mexico” online survey of people who are considering moving to Mexico found that 81 percent of Baby Boomer respondents said they will retire in Mexico, nearly 52 percent within two years.
“It’s not surprising that so many Baby Boomers, primarily from the U.S. and Canada, are considering retiring in Mexico,” said Robert Nelson, Expats In Mexico co-founder and author of Boomers in Paradise – Living in Puerto Vallarta. “I discovered this trend 11 years ago while researching my book and it has just continued to pick up steam.”
The Mexican government reported over 1.2 million expats were living in Mexico through 2017, the latest figure available. The 2000 Mexican census data showed just under 540,000 expats in Mexico. Americans represented over 80 percent of all expats living in Mexico two years ago, nearly 900,000.
Retirement is the main reason why Boomers and all respondents want to move to Mexico. Both groups also rated cost of living and better climate as top reasons to move.
“Mexico as a retirement destination for Baby Boomers makes sense,” Nelson said. “According to a recent report by the Stanford Center on Longevity, U.S. Baby Boomers hold less wealth, are deeper in debt and will face higher expenses than retirees a decade older than them. Why not live better in a nicer climate?”
But all is not perfect south of the border. About 45 percent of all respondents and Boomers say security issues in Mexico might be a concern for them. Lack of Spanish language skills and quality of healthcare were less important considerations.
Both Baby Boomers and all respondents selected Puerto Vallarta as their destination of choice, followed by the Lake Chapala area and Los Cabos. About 38 percent of all respondents and Boomers chose a wide variety of other locations in Mexico.
The self-selected online survey was completed by 337 respondents in January and February 2019. Respondents were primarily Americans and Canadians.
You can find more survey results at ExpatsInMexico.com, an online magazine designed for both expats currently living in Mexico and aspiring expats considering moving to Mexico.