THE BIG PICTURE
Mexico... A Land of Opportunity
Source: The New York Times, September 2013
Mexico, whose economic woes have pushed millions of people north, is increasingly becoming an immigrant destination. The country’s documented foreign-born population nearly doubled between 2000 and 2010, and officials now say the pace is accelerating as broad changes in the global economy create new dynamics of migration.
Rising wages in China and higher transportation costs have made Mexican manufacturing highly competitive again, with some projections suggesting it is already cheaper than China for many industries serving the American market. Europe is sputtering, pushing workers away. And while Mexico’s economy is far from trouble free, its growth easily outpaced the giants of the hemisphere — the United States, Canada and Brazil — in 2011 and 2012, according to International Monetary Fund data, making the country more attractive to fortune seekers worldwide.
The new arrivals range in class from executives to laborers; Mexican officials said Friday that residency requests had grown by 10 percent since November, when a new law meant to streamline the process took effect. And they are coming from nearly everywhere.
THE REAL ESTATE MARKET
The Mexico real estate market is considered an attractive investment because of the country's relatively low cost of living, growth potential as a major retirement destination, and increasingly liberalized, trillion-dollar economy. Foreign ownership of real estate in Mexico's interior is unrestricted.
Many people buying Mexico real estate as a vacation property or for retirement like to see their property as an investment; while there is a very strong aspect of lifestyle investment, as well as the large savings enjoyed in comparison to owning a vacation property or retiring in the U.S. or Canada, a true investment should do more than just bring you savings; it should generate an income. There is no restriction on renting out your home in Riviera Alta.
YES, AJIJIC IS CONNECTED
High speed internet, satellite TV, VOIP telecommunications, and English-speaking newspapers (The Guadalajara Reporter; The News) and magazines are all available in Ajijic. Most of the mega-stores found in the US and Canada have come to Guadalajara including Sam's Club, Costco, Home Depot, Office Depot, Best Buy and Wal-Mart (also available in Ajijic).
MEXICO'S MIDDLE CLASS
Mexico is a nation that is in a period of dynamic growth, the result of appropriate decisions by committed leadership both government and industry. (read more)