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12 de oct. de 2023 · CNBC Make It spoke with several Americans living in Mexico City who told us the area is cheaper, offers a more laid-back lifestyle, and is rich in culture and community. And while Mexico...
- 24 min
8 de feb. de 2023 · Mexico - Feb 08, 2023 - 06:53 EST. The number of Americans residing in Mexico on a temporary or permanent basis increased by 69.9% in 2022 compared to 2019, the year before the start of the...
- Rodrigo Soriano
- Overview
- Mexico City's government: Yes to more 'nomads'
- Beyond housing
Derrick Morgan moved to Mexico during the pandemic after a solo trip.
“I fell in love with the culture, the people, just everything about the city,” the 31-year-old attorney and self-described "digital nomad" said.
The warm weather and relaxed Covid restrictions played a part in his decision to spend more time there after he first visited at the end of 2019. He now lives and works in Mexico City during the fall and the winter — he calls himself a "snowbird" — and he stays in short-term rental properties. The most enticing factor? It's less expensive to live there than when he's at his Chicago condominium.
“I was living in an apartment that was just as nice as my condo but for a third of the price. You can’t really beat that,” Morgan said, noting Mexico’s cost of living in general was almost half of what it is stateside.
Mexico City has seen an influx of people migrating to the historic metropolis, especially during the pandemic when remote work made it possible to work from different places. Currently, 1.6 million Americans live in Mexico, according to the State Department, and Mexico City is the fifth rated destination for digital nomads globally, according to nomadlist.com.
While foreigners have reaped the benefits of cheaper housing as they spend money on the local economy, some critics say it’s created more inequality for local Mexicans who are feeling priced out.
Last month, Mexico City Mayor Claudia Sheinbaum announced the city signed an agreement with Airbnb to increase the number of digital nomads coming to live and work there, a partnership that has the backing of UNESCO.
At a press conference, she said the city hasn't seen a link between more Airbnb rentals and higher rent prices, adding most digital nomads choose to stay in the expensive neighborhoods, such as Condesa, Roma and Polanco, which already had high rents.
Sheinbaum said her administration was aware of concerns and will continue to monitor the situation.
One of the most popular ways foreigners are generating income in the city is by purchasing properties and renting them out as Airbnbs.
González feels the effects aren’t limited to the housing market. He notes that in addition to residential properties, newcomers are now operating commercial businesses that have also been prosperous.
The wave of new arrivals has increased commerce, spurred new businesses and higher pay for some locals. But, he added, in the process of gentrification, some gain and others lose.
“I say we should view the influx of foreigners from two perspectives: It benefits a lot — full restaurants, high commerce, cafés. That’s a positive development," González said. “On the other hand, the formula is simple: The economic power is totally different from the local people, so they come and take over.”
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4 de nov. de 2022 · Home News. U.S. citizens moving to Mexico in record numbers, govt. data shows. MND Staff. November 4, 2022. 0. Part of the increase in U.S. citizens living in Mexico appears to come from an...
May 8, 2019, 6:19 AM PDT. An estimated 1.5 million Americans live in Mexico. Marcelo Rodriguez/Shutterstock. Mexico is home to more American expats than any other country in the world. But if...
23 de ago. de 2022 · Real estate agent Edyta Norejko said she gets dozens of calls weekly from Americans inquiring about relocating to Mexico City.
In the 2020s, Americans taking advantage of remote work programs have contributed to the gentrification of Mexico City. [13] In November 2022, the U.S. Social Security Administration paid more than 62,000 individuals in Mexico, the third largest group of beneficiaries after those in Canada and Japan.
