Baby Boomers and Mexico
Baby boomers just love Mexico. Born in the post-war era, so-called baby boomers led productive lives, and many achieved success as entrepreneurs or as employees.
There has been a significant increase in U.S. and Canadian natives, from this generation, who live in Mexico or spend much time here. This phenomenon is causing cultural changes and economic opportunities in several states of the country.
Reasons to Move
The main reasons they move to Mexico are: low cost of living, vicinity to their own country, good and inexpensive healthcare, and the attraction of new experiences. These motivations have brought thousands of retirees to places like Playa del Carmen, Cancun, Tulum, Akumal, Puerto Morelos, San Miguel de Allende, Lake Chapala, Puerto Vallarta, and the Baja California coast.
Also, many baby boomers simply can’t afford to retire permanently in the U.S. or Canada. Therefore, they decide to enjoy a higher standard of living in places like Mexico. However, some of them do not just seek low living costs. Known as ‘snowbirds’, they simply wish to escape their cold cities and experience a different way of life. Reports indicate that the arrival of snowbirds in Mexico during the winter increased drastically from 2012 to 2019.
Those who retire before age 55 often stay active when in Mexico. The perspective of retirees has changed. They no longer want to just play golf and relax, but rather keep working and contributing to the local community.
Growing Old in Mexico
Despite the fact that the country does not have adequate infrastructure to allow them to do so, many boomers also desire to grow old in Mexico. Retirement or assisted living homes with medical facilities for the elderly are not a common facility here. So, this is one, among many other great opportunities, for Mexico to create and invest in a new industry.
For further information on permanent and temporary residence in Mexico, read about the pros and cons here.