A new survey by online magazine Expats In Mexico shows 54 percent of respondents say they are Extremely Likely or Very Likely to move south of the border, an increase of 5-percentage points from the company’s similar 2019 survey.
The study also finds that 54 percent say they will be moving much sooner, a significant increase of 18-percentage points from two years ago.
Nearly 300 aspiring expats, primarily from the U.S. and Canada, completed the online survey in January and February of this year.
“We did this year’s study to compare the results to our 2019 survey,” said Robert Nelson, founder of Expats In Mexico. “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. About 40 percent, though, are not quite ready to move within the next year, citing the need to continue working to save more money.”
Mexico’s newly-published 2020 census data counts 1,148,957 expats living in Mexico, nearly 190,000 more than 2010 and 656,340 more than the 2000 census. The census, however, undercounts the expat population that lives in Mexico for just part of the year.
“Another big change from our study two years ago,” Nelson said, “is the number of single people who are planning to move to Mexico. This year 36 percent say they will move alone, a 10-percentage point increase over the previous study.”
Two-thirds of aspiring expats plan on living full-time in Mexico, a 10-percentage point increase over the Expats In Mexico Survey 2019. When they arrive, 55 percent say they will rent a home, a 5-percentage point increase over the study two years ago.
Puerto Vallarta remains the destination of choice for most new expats, but its popularity dropped 4-percentage points from two years ago. The Lake Chapala communities, Los Cabos, Mérida and Playa del Carmen also are top places to live.
Unsurprisingly, nearly three-fourths of respondents say they will be retiring in Mexico, up 6-percentage points from the 2019 survey.
Lifestyle is by far the number one reason aspiring expats choose Mexico. Four-out-of-10 respondents say they are looking for a different lifestyle, a jump of 10-percentage points from two years ago. Lower cost of living was second, an increase of 5-percentage points, influenced perhaps by the high percentage of retirees who are looking for a better life at a lower cost of living. Climate also is a primary motivator.
For those who may have second thoughts about moving to Mexico, security issues are most frequently mentioned in the survey. About 40 percent have some concern about personal safety in Mexico.
Mexico stands to gain economically and educationally from this movement of new expats to the country. About 22 percent hold a graduate-level degree, which is an increase of 7-percentage points from the 2019 study. An additional 25 percent have a four-year college degree.
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 considering moving to Mexico.
SOURCE Expats In Mexico