International Community Foundation Releases Report on US Retirement Trends in Coastal Communities of Mexico
By Richard Kiy & Anne McEnany | Photos by Jesús de Avila • April 2010
SAN DIEGO– March 2010 – In an effort to better understand the impacts of the recent economic recession on U.S. retirement trends in Mexico, the International Community Foundation has released a study entitled “U.S. Retirement Trends in Mexico’s Coastal Communities: Lifestyle Priorities and Demographics.” The report is the first of five research studies on this topic that will be published by the Foundation. The International Community Foundation surveyed over 840 U.S. retirees in coastal areas of Mexico over 50 years of age. Key findings included:
● U.S. retirees chose Mexico for retirement due to its proximity to the United States and its affordability relative to other retirement destinations in the United States.
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● U.S. retirees in Mexican coastal communities are relatively young and well-educated. Nearly 53 percent are under 65 years of age. Almost two-thirds have at least a college degree; another 28 percent attended at least one year of college.
● U.S. retirees residing in Mexico continue to maintain strong ties to the U.S. with 50 percent still considering the United States as their primary country of residence; almost 22 percent return to the U.S. on a monthly basis.
● Almost 44 percent of Americans residing in Mexican coastal communities were able to live comfortably on less than $1,000 a month for household expenses. This is significantly different from the U.S. where in California, a senior might need $21,000-27,000/year.
● U.S. retirees already in Mexico have weathered the recent economic storm well. Forty two percent stated that the economic recession had no impact on their retirement plans and 34 percent said their quality of life has not been impacted.
● In spite of growing concerns in the United States about narco-violence in Mexico’s border cities, only 7 percent of retirees surveyed reported that public safety and security concerns have reduced the frequency or duration of their trips to Mexico.
About the U.S. Retirement in Research Series:
Through its “U.S. Retirement in Mexico” research series, the International Community Foundation seeks to inform, educate, and engage would-be retirees, targeted buyers, real estate developers, nonprofit organizations and policymakers at the local, state and federal levels of governmental in both the United States and Mexico on emerging trends related to the American expatriate community in Mexico. The forthcoming research series will address trends in health care; volunteerism, philanthropy and civic engagement; real estate; and the environment.
About the International Community Foundation:
The International Community Foundation is a public charity founded in 1990 with a mission to expand the level of charitable giving internationally by U.S. donors with an emphasis on Mexico and Central America. For more information regarding the International Community Foundation, visit: www.icfdn.org. Email to a friend
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