Mexico wins out on low cost expat locations

For would-be expats turning their backs on EU member states due to Brexit, Mexico may well be the answer.

For many aspiring expats, including retirees and budding entrepreneurs, the cost of living is a major factor in their choice of destination. Building a new life in EU member state favourites such as Spain is now risky due to Brexit, and the lifestyle in Southeast Asian countries doesn’t suit everyone looking to leave their home country. Looking further afield, Mexico has been a popular choice for USA expats over the past decade or so, and is known for its warmer weather and friendly people.

A recent survey placed Mexico as only half as expensive as life in the USA, thus providing an alternative for would-be migrants from the UK and other Western lands, especially as there are established expat communities in almost all the popular cities. Just under half of the survey’s respondents agreed services and goods cost at least half what they would have paid back in the home country, with many saying the savings made allowed spare cash for a few luxury purchases as well.

Unsurprisingly, prices in Mexico City were the highest, with just 28 per cent of those surveyed saying they spend less than in their countries of birth, but outside the capital in areas such as Mazatlan, Baja California and the state of Yucatan the results were very different. Three quarters of expat residents in Baja California revealed their costs of living were lower by 50 per cent or more, with 63 per cent of Mazatlan retirees and 59 per cent of Yucatan respondents saying the same.

One former Californian resident was more than happy her rental costs had fallen by two-thirds of the amount she’d paid in her former home, and a Canadian expat said everything from internet charges through groceries, eating out, travel and entertainment was half the price of Canada’s. According to a European expat, if you’re working and being paid in the local currency, life’s expensive, but for those living off their pensions, investment or savings everything is far cheaper. Most importantly, many respondents to the survey noted tier lives were far less stressful as they didn’t have to worry about making ends meet.