5 reasons why U.S. citizens are crossing the border and moving to Mexico in large numbers
According to a recent report, many Americans are moving to Mexico. Mexico News Daily reported that over 8,000 Americans were issued temporary resident visas to live in Mexico in the first nine months of the year, which is 85% more than in 2019. Over the last few years, Mexico has become the destination of choice for US citizens, with most of them choosing the capital over other popular Mexican hot spots such as Puerto Vallarta and Cancun. Moreover, the number of US citizens given permanent residency in Mexico is up 48% over 2019.
In Mexico, foreign nationals seeking permanent residency must meet several criteria, including income requirements, employer-sponsored visas, and family ties. Nevertheless, Mexico allows temporary foreign visitors to stay in the country for up to six months. This Pacific Prime article will explore the top 5 reasons U.S citizens are moving to Mexico.
1. Better quality of life
It’s no surprise that the cost of living across the world has increased significantly; rents, food, and utilities are more expensive, taxes are rising, and income is falling compared to the inflation rate. The retired population and people with fixed incomes are badly affected in the USA. Hence, more and more people are moving to places like Mexico, where fixed incomes cover a lot more when compared to their home country.
2. Good food at lower prices
Mexico is well known for its fresh and decadent food choices, and there is an abundance of fresh, wholesome produce available in the country at economical prices. Hence, many people are excited about eating good food all year long without having to burn through their paychecks.
3. Extraordinary climate
Mexico comprises three main lands, attracting people with different climate preferences. For instance, if you enjoy a year-round temperate climate, the highland areas are for you; if you prefer warmer weather, you can choose from plenty of beachside towns. Moreover, unlike the US, coastal property is affordable in many places across Mexico.
4. Affordable healthcare
From routine medical care to specialist services and the cost of medication, Mexico is far more affordable than the USA. Moreover, foreigners are also seeking long-term healthcare in residential homes in Mexico as it costs around USD $500 – USD $1,500 compared to the US, where the monthly costs run between USD $5,000 and USD $6,500.
According to Pacific Prime’s Cost of Health Insurance Report 2021-2022, America is ranked #1 for its IPMI premiums. So, it’s no wonder Americans are flying abroad for medical treatments as Mexico is an accessible destination that offers affordable medical care. You can learn more about Mexico’s medical insurance options by contacting Pacific Prime’s insurance experts.
5. Affordable housing tax
The fees and taxes home-owners pay have increased over the years, especially in countries such as the USA, Canada, and Western Europe – to the point where these costs are now a line item on personal budgets. However, in Mexico, homeowners enjoy low property taxes and low-maintenance costs due to lower material prices and labor fees for house maintenance services.
Related reading: https://www.pacificprime.lat/blog/expats-guide-to-renting-a-house-in-mexico/
Secure health insurance with Pacific Prime
Planning to move to Mexico? Then, learn about medical care and health insurance for yourself and your family. Pacific Prime has over 20 years of experience in the insurance industry and has helped thousands of expats worldwide find the right insurance plan for their unique needs.
So, contact insurance experts in Mexico for unbiased advice and a FREE quote today!
Since joining Pacific Prime, Lakshmi has gained a comprehensive understanding of different kinds of health insurance and their importance in people's lives. Her expertise in this area has allowed her to produce informative and engaging content that helps individuals make informed decisions regarding their health insurance.
Lakshmi's clear, concise, and engaging writing style makes complex insurance concepts accessible to readers of all levels and also adheres to Pacific Prime’s motto: - “Simplifying Insurance.”
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