In a recent article, published by the New York Times, Mexico is being highlighted as the new land of opportunity! The economy is growing, and as a result more and more foreigners are flocking to live in Mexico. What was once a vacation destination is now being considered an immigration destination? This is very exciting news for the country as they have been given a good chance at shining over the United States and other first world countries, economically.
The Growing Economy in Mexico!
And excerpt from the New York Times says, “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.
Mexico – The place to be!
The article also goes on to point out that “Mexican migration to the United States has reached equilibrium, with about as many Mexicans moving north from 2005 to 2010 as those returning south. The number of Americans legally living and working in Mexico grew to more than 70,000 in 2012 from 60,000 in 2009, a number that does not include many students and retirees, those on tourist visas or the roughly 350,000 American children who have arrived since 2005 with their Mexican parents.”
“The new arrivals range in class from executives to laborers.”
Residency requests from foreigners have increased 10 percent since the new immigration law took place in November. People from everywhere are seeking permission to come to legally live in Mexico! This is quite the contrary, compared to some of the stereotypical images that Americans have, which is that all Mexicans are trying to sneak in to the United States for opportunity.
Here in the Riviera Maya we are seeing a strong real estate market in Playa del Carmen, Cancun, Tulum and Akumal. We are also noticing an incredible demand from foreigners seeking properties in all areas of Mexico including Central locations. This is a good sign for Mexico and is showing people from all over the world that despite negative media attention (sometimes undeserving), that Mexico is a great place to settle!
To read the entire New York Times Article, click here!
-by Thomas Lloyd