International Living rates and ranks the world’s best retirement destinations. The winner of 2017 is a country that is making no surprises as the world’s best destination – it has been ranked among the top 10 for the past 14 years, and has won the first place five times.
This year, the winner – again – is Mexico. International Living believes that this country offers the easiest transition to expat life, as it gives a great balance of exotic culture and familiar Western lifestyle.
Currently, expats from other countries – Costa Rica, Ecuador and Belize – are moving to Mexico, seduced by its low-cost lifestyle, that blends ancient traditions with contemporary convenience.
Here are some of the main reasons that expats are choosing Mexico:
1. Mix of traditions and modern Western lifestyle.
Mexico is the land of tradition: for example, in the Riviera Maya you will be living side by side with Mayan descendants, surrounded by ancient Mayan towns with their majestic pyramids. In the town of Merida, you will be surrounded by an eclectic mix of Mayan and Spanish colonial cultures. At the same time, Mexico, being close to America, offers most common American-brand stores and all the modern conveniences: cable TV, appliances, and high-speed Internet.
2. Strong U.S. dollar against Mexican peso.
Mexican peso has just reached an all-time low against American dollar. Peso, which has been steadily falling over the years, reacted to the announcement by Ford not to build a new plant in San Luis Potosi. However, the fall of the peso has been a steady trend throughout years, meaning your dollar will most likely have even more value in Mexico over time. At the time of writing, the rate is 21.39 MXP to 1 USD.
3. Quality of life.
Life quality in Mexico improves for any Westerner. The weather is pleasant year round, services and goods cost just a fraction of the price, and if you choose such beach paradise as Tulum, you will also be enjoying incredible beaches, delicious food and a growing expat community. In any case, by reducing the costs for goods and services, expats have the time to enjoy the activities that they like. A lot of time frees up by hiring a gardener, a maid and a cook. It’s easy to have a quality lifestyle on just $1,200 per month, or around $2,000 per couple.
4. Affordable healthcare.
Health care in Mexico is much more affordable than in the U.S., and has high international standards.
5. Real estate opportunities.
Mexico has multiple hotspots with excellent real estate opportunities, from colonial city centers to breathtaking beaches, so there are plenty of opportunities to choose a certain type of lifestyle. For example, those looking for a beach life with excellent investment opportunities, choose Tulum, an emerging boomtown, where investing in real estate is likely to bring additional value to the second home. Luxury 602-square-foot suites in Tulum were sold from $127,000 in 2009. Now they are listed for $265,000, which is a $138,000 increase. Monthly rents for a two-bedroom, furnished condo range from $550 to $1,200 a month. You can still buy a lot in a developing residential neighborhood for $40K USD and then build your own house as you want it. Riviera Maya Property Consultants, a local real estate & architectural company founded by expats, provides all services starting from land or property selection, architectural projects, construction and even property management.
Mexico will continue to attract Americans and expats from other countries with its unparalleled opportunities for a great retirement. Other top retirement destinations on International Living’s top list include Panama, Ecuador, Costa Rica, Colombia, Malaysia, Spain, Nicaragua, Portugal and Malta.