Published On: Fri, Sep 5th, 2014

More Than 2 Million Americans and Canadians Choose Mexico for Retirement

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More than 2 million retired Americans have chosen Mexico as their new home, a figure that continues to increase thanks to the pleasant climate and favorable economic conditions, Tourism Secretary Gloria Guevara said.

During Friday’s inauguration of the 1st National Forum for Retired Americans: Expectations and Solutions of Life in Mexico, the official said that Mexico offers such products as medical tourism, rest and relaxation tourism, and business tourism.

She said that retired Americans are a segment of great importance for developing the economy of the nation’s tourist destinations, and added that more and more Canadians also opt for retirement in Mexico.

Guevara said that the favorite retirement locations are Mexico’s northwestern states and the Yucatan Peninsula.

More Than 2 Million Americans Choose Mexico for Retirement

More Than 2 Million Americans Choose Mexico for Retirement

At the same forum, the president of the International Community Foundation, Richard Kiy, said that 53 percent of retirees making their home in Mexico are under age 65 and choose Mexico for the favorable living conditions and stable economy.

He said that Mexico being near their home country does influence their choice, as does the possibility of purchasing a home at a much lower price than in the United States.

He said that 34 percent say the economic recession has not affected their retirement plans nor their quality of life.

The study indicated that 93 percent of retirees say that drug-related violence, which has claimed nearly 50,000 lives in the past five years, is not a problem that would keep them from moving to Mexico.

Source: http://laht.com/article.asp?CategoryId=14091&ArticleId=449372

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  1. Ken says:

    I have totally enjoyed my 4+ years continuous residence in Mexico. First in Yucatan and now in Chiapas. Sadly these good times will soon come to an end. When my Temporary Visa (old FM3 now called something else) expires at the end of next month I would be required to convert to permanent residency status. I have been looking forward to that milestone. However the newest regulations require proof on income a bit above what I can document. Very sad. I have had no problems paying the bills and renting nice homes in the 4+ years I’ve been here but apparently Mexico now wants only wealthy immigrants.

    So farewell Mexico, hola Nicaragua!

    • Daniel says:

      Ken, changing from the old FM3 to the Residente Permanente does not require any financial statements to INM. I recently did mine and, like you, am slightly below the limit. I was never even asked for a statement of income. And I did it all online except payment and photos.

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