More than half of foreigners living in Yucatán said they slashed living costs by more than half by moving to Mexico.
Baja California Norte and Yucatán state were on top of a list in a new survey by Best Places In The World To Retire, where expats reported such significant savings.
Baja California Sur was apparently the most expensive place for expats, with only 22.7 percent indicating they cut down their expenses to such a degree.
So how did Baja California Norte beat Yucatán?
“After looking at the comments, we suspect that one of the reasons that Baja California Norte was seen as so inexpensive is that many of the people who live there used to live in Southern California, which is one of the more expensive areas of the U.S.,” concludes the report.
The expat study “Is It Cheaper To Live In Mexico?” was sponsored by Yucatán Expat Life and a handful of other English-language media outlets in Mexico which helped publicize and distribute the questionnaires.
“While certainly not the only reason people move to Mexico, the widely believed assertion that it is less expensive is one of them,” said Chuck Bolotin, vice president of business development. “However, just how much less will surprise a lot of people. And it will also surprise a lot of people what the expats did with their rather significant savings.”
After they reduced their costs in Mexico, the respondents increased their living standards, using those savings to purchase more goods and services.
Respondents said they spent mostly on housekeepers and gardeners, luxuries they didn’t necessarily enjoy in their home cities.
The report also includes a list of the more popular expat locations with the lowest cost of living and the highest standard of living for the money.
Alan Alexander, Chairman of the Best Places Advisory Board added, “As with our other studies, we designed this study to give realistic, actionable information to those considering moving to Mexico. We also designed it as a resource for journalists. For both audiences, the top-line, most interesting findings are highlighted in the introduction; there are lots of clear, interesting, and surprising graphs and charts; and there is commentary to help to explain it all, not only by the study’s authors, but also by hundreds of expats, who provide a very human, firsthand perspective to the numbers.”
“In addition to asking about how much items cost, what did they do with the money, and how has their lifestyle changed, we also asked our respondents if the amount of chores they did increased or decreased,” said Bolotin. “The reason we did this was to uncover the reality of a second component of cost of living: time. How much time does it cost to live in Mexico? In the end, this may be of the most interesting set of findings in the study. This study is a ‘must read’ for anyone considering moving to Mexico or anyone interested in those who are.”
“No question your money goes farther here with plenty left over for fun things and travel!” said an expat from the U.S. who has lived in Yucatán for more than 10 years.
“Is It Really Cheaper To Live In Mexico?” is free to download. Page 21 has a complete list of which regions reported the best cost-of-living savings.
About Best Places in the World to Retire
Funded and run by entrepreneurs and investors based primarily in Southern Arizona, Best Places In The World To Retire provides “no spin” information about moving, doing business or visiting abroad.
The site currently covers the most popular expat destinations in Panama, Mexico, Belize, Nicaragua, and Portugal.