Cost of living is No. 1 attraction for expats living in Mexico: survey

Published March 31st, 2022

The low cost of living is the primary reason that ex-pats live in Mexico and security is only a concern for a small minority, according to a survey by the online magazine Expats In Mexico.

The magazine’s Expats In Mexico 2022 Survey reveals that nearly one-quarter of respondents named the cost of living as their top motive, while only 17% said personal security is an issue for them, despite homicides exceeding 30,000 for a fourth consecutive year in 2021.

A much larger concern for those surveyed is their Spanish skills: nearly 39% said they were worried about learning and using Spanish.

Other popular motives for being based in the country were a Mexican lifestyle, chosen by 21% of respondents, and the warm climate, which was the main draw for 16% of participants.

The modest incomes of respondents may explain why the cost of living was their uppermost concern. The survey shows that about 64% live on a monthly budget of 40,000 pesos (almost US $2,000) or less.

The founder of Expats In Mexico, Robert Nelson, said that nearly 80% of respondents were retirees, many of whom sold their homes before moving to Mexico.

Nelson added that high global inflation made the country an even more attractive option for ex-pats.

“Mexico has long been known as a low-cost haven for American and Canadian retirees … It continues to rank among the least expensive countries to live in. With most of the world caught in an inflationary spiral, the cost of living is the upper-most in the minds of many ex-pats who live here, as well as aspiring ex-pats from other countries who may be planning or considering a move to Mexico,” he said.

The survey was completed by 364 ex-pats living in Mexico, 77% of whom are full-time residents. Detailed survey results can be found on the Expats In Mexico website.