A new survey by an online magazine for expats suggests that more Canadian and United States citizens are interested in making Mexico their home than in previous years — especially as a retirement destination.
But, perhaps due to the economic effects of the pandemic, many respondents said they expect to work longer in their native lands before they make the move. In addition, more are likely to rent than buy a home once they get here.
The survey, conducted by Expats in Mexico, queried about 300 readers primarily from the U.S. and Canada. It found that 54% of respondents were extremely likely or very likely to move to Mexico, a 5% increase compared to the magazine’s similar survey in 2019.
“This year’s results confirm that there is a heightened interest by Americans, Canadians and aspiring expats from other countries in moving to Mexico, especially among baby boomers,” Expats in Mexico founder Robert Nelson said. “About 40%, though, are not quite ready to move within the next year, citing the need to continue working to save more money.”
However, once they get here, they’re likely to stay: nearly three-quarters of respondents said they would be retiring in Mexico, and two-thirds said they were interested in living full-time in Mexico instead of doing the “snowbird” dual existence in Mexico and their native country, the latter a 10% increase from the 2019 survey. However, 55% said they will rent a home rather than buy, a 5% increase compared to two years ago.
The survey also saw a 10% increase in the number of single people planning to move to Mexico. This year, 36% said they planned to move here alone.
The Lake Chapala communities, Los Cabos, Mérida and Playa del Carmen continue to be popular landing places of choice, with Puerto Vallarta topping the list, although its popularity has dropped a bit — 4% lower than in 2019.
Perhaps not surprising given the top destinations, lifestyle was by far the No. 1 reason readers gave for moving to Mexico. Four out of 10 respondents said they were looking for a different lifestyle, while the No. 2 reason was a lower cost of living, perhaps influenced by the high percentage of retirees that responded to the survey, Nelson said. Climate was also a primary motivator.
Despite the heightened interest, about 40% of respondents also expressed concerns about personal safety in Mexico. Security was the most frequently mentioned issue.
Mexico’s latest census, conducted in 2020 counted, 1.1 million expats currently living in Mexico, nearly 190,000 more than in the previous census in 2010. However, the census likely undercounts the expat population who live in Mexico for just part of the year.
Source: Mexico News Daily