Cost of living is the #1 reason expats live in Mexico. Our new Expats In Mexico 2022 Survey reveals that when asked to choose why they make Mexico their home, nearly one-quarter of all expats who participated in this year’s study chose low cost of living as the main reason, although the Mexican lifestyle and climate also scored well.
“Mexico has long been known as a low-cost haven for American and Canadian retirees,” said Robert Nelson, company founder. “It continues to rank among the least expensive countries to live. With most of the world caught in an inflationary spiral, cost of living is upper-most in the minds of many expats who live here, as well as aspiring expats from other countries who may be planning or considering a move to Mexico.”
Nelson said the study shows that the majority of expats in Mexico – about 64 percent of all respondents – say they live on a monthly budget of $40,000 pesos or less (about US$2,000 at a 20-to-1 exchange ratio) and enjoy a middle-class lifestyle.
“Nearly 80 percent of respondents, as you might guess, are retirees,” Nelson explained, “many of whom have traded their home country for the low cost of living, sunshine and laid-back lifestyle of Mexico.”
In addition to the appeal of lower living costs, but higher standard of living, expats in the survey say their new lifestyle is a close second, with 21 percent responding that the life they have found in Mexico is what makes it home. Another 16 percent say they love the climate of Mexico where they live. The warmth of the Mexican people and their rich culture are also highly-valued by expats in Mexico.
“One of the most interesting findings in this survey,” Nelson said, “is that expats are not that concerned with their personal safety, an issue that U.S. media often covers. In fact, only 17 percent of respondents say personal security is an issue for them. A much larger concern is their lack of Spanish language skills. Nearly 39 percent are worried about learning and using the language
The survey was completed by 364 expats currently living in Mexico. You can get complete survey results, including monthly living expenses, monthly rental payments, monthly food costs, monthly healthcare expenditures (including medications) and other information about expats living in Mexico at https://www.expatsinmexico.com.
Expats In Mexico – The Expat Guide to Living in Mexico – is an online magazine designed for both expats currently living in Mexico and aspiring expats who are planning or considering a move to Mexico.
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