20 Best Places to Retire in Mexico
In this article, we will take a look at the 20 best places to retire in Mexico. If you want to see more places in this selection, go to the 5 Best Places to Retire in Mexico.
Mexico has the second-largest economy in Latin America, trailing only Brazil. With a GDP of $1.27 trillion as of 2021, Mexico's economy ranks 15th in the world, according to the World Bank. The country, with a population of 130 million, has a robust manufacturing base that is an integral part of the global supply chain, particularly due to its close trade ties with the US. Mexico is considered a newly industrialized country and is a member of the G20, the North American Free Trade Agreement (NAFTA), and the Pacific Alliance. The country has a diversified industrial base that includes manufacturing, petroleum, mining, agriculture, and tourism. Mexico is also a major producer of silver and is home to the world's largest silver mine known as the Pe?asquito Mine. Some of the biggest Mexican corporations include Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF), CEMEX, S.A.B. de C.V. (NYSE:CX), and Southern Copper Corporation (NYSE:SCCO). If you want to read more about the leading Mexican companies, you can also check out the 15 Biggest Mexican Companies in 2022.
Reasons for Mexico's Popularity Among Retirees
Mexico is home to over 1.5 million digital nomads, expats, and retirees and is a popular destination for American and Canadian retirees for several reasons. Firstly, Mexico is known for its relatively low cost of living compared to many Western countries enabling retirees to make their retirement savings last longer. According to International Living, a retired couple can comfortably reside in Mexico with a monthly income of $2,500 per month or $30,000 per annum. Meanwhile, according to the latest Consumer Expenditure Survey issued by the US Bureau of Labor Statistics in September 2022, a household led by a retiree of age 65 or older has an annual expenditure of $50,220 per annum in the US. Therefore, a household led by a retiree in Mexico would have an annual saving of 40%.
Mexico's warm and sunny weather is another factor that makes it an attractive destination for retirees, especially those looking to escape colder climates. The annual average temperature in Mexico hovers around 20.6 degrees Celsius, rising to as much as 25 degrees Celsius during June and dropping to 15 degrees Celsius during January. Rain is scattered throughout the year, with the most rainfall occurring between June and October. The average annual rainfall in Mexico is around 725 millimetres (mm).
Mexico boasts a decent standard of healthcare. Medical expenses in Mexico can be significantly lower compared to many other countries, and retirees can take advantage of its proximity to the US to receive medical treatment under the Medicare federal health program in the States. Finally, the ease of the immigration process is a major draw for retirees looking to relocate to Mexico. The country offers a relatively simple immigration process, making it possible to obtain a long-term visa and live in Mexico without encountering too much difficulty. The two main types of visas that allow for extended stays in the country are the Residente Temporal, which is a temporary residency visa, and the Residente Permanente, which is a permanent residency visa. Temporary resident visas remain valid for up to four years, while permanent residency visas do not have an expiration date.
Record Number of US Citizens Settling in Mexico
The number of US citizens settling in Mexico is currently at its highest point since 2010. As of November 2022, the permits for Americans to reside temporarily in Mexico have increased by 85% from 2019. According to a migration report from the Mexican government, 8,412 permits were issued to Americans between January and September of last year, a significant increase from the 4,550 permits issued during the same period in 2019. Furthermore, the number of Americans who received permanent residence in 2022 rose by 48% from 2019 to reach a total of 5,418 individuals. Contrary to expectations, the preferred destination for temporary US residents in Mexico is not a beach resort. Instead, it is the country’s capital, Mexico City. As of September 2022, 1,619 permits had been issued to Americans in Mexico City alone, surpassing the total of 1,417 permits issued throughout the entire year of 2019. According to the CICOTUR research centre at Anahuac University, around 10 million American tourists arrived in the country by air between January and September 2022. This marks a significant increase of almost 24% compared to the same period in 2019.
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Our Methodology
For this article, we utilized a consensus opinion-based rankings approach to determine the best places to retire in Mexico. We have researched over 20 reliable sources, including International Living, Nomad Capitalist, World Population Review, US News, and Travel and Leisure, and analyzed several key metrics such as cost of living, healthcare, safety, amenities and activities, transportation, and overall quality of life. Based on the recommendations from these sources, we assigned an average score out of 10 to each place across the aforementioned factors, with a maximum attainable score of 70. We have ranked the 20 best places to retire in Mexico in ascending order of their total scores.
Best Places to Retire in Mexico
20. Puebla
Insider Monkey Score: 11
Puebla was founded in the 16th century and is home to some of Mexico's most impressive examples of colonial architecture. The city's historic centre, declared a UNESCO World Heritage Site in 1987, features more than 2,600 buildings dating back to the 16th and 17th centuries. The city is also home to several museums, including the Museum of Mexican Revolution, the Amparo Museum, and the Museum of Popular Art. One of the reasons Pubela is amongst the best places to retire in Mexico is its low cost of living, with a variety of sizable apartments available at reasonable prices, some of which even feature private courtyards.
19. La Paz
Insider Monkey Score: 12
La Paz is a city located on the eastern coast of the Baja California Peninsula, overlooking the Gulf of California. It is a popular destination for eco-tourism, as it is located near several natural wonders, such as Espiritu Santo Island, a UNESCO World Heritage Site that is home to diverse marine life and beautiful beaches. Residents can also explore the nearby Sierra de la Laguna Mountains, which offer opportunities for hiking, camping, and bird-watching. La Paz is an ideal location for retirees seeking a tranquil and peaceful environment with all the essential infrastructure required for daily living.
18. Los Cabos
Insider Monkey Score: 13
Los Cabos is a popular resort area located at the southern tip of the Baja California Peninsula in Mexico. It is renowned for its idyllic weather, featuring 350 sunny days annually, making it the perfect retreat from the cold winter months. The excellent local healthcare system in Los Cabos is one of the reasons behind the significant retirement community in the region. The area is also famous for its beautiful beaches, including Playa El Médano, Playa Santa Maria, and Playa del Amor (Lover's Beach). These beaches offer opportunities for swimming, sunbathing, and water sports such as surfing, snorkeling, and scuba diving. The area is also home to many high-end resorts, spas, and golf courses, making it a popular destination for luxury travelers.
17. Sayulita
Insider Monkey Score: 14
Sayulita is known for its laid-back, bohemian vibe and beautiful beaches. It is a popular destination for surfers, with waves that are suitable for all levels of experience. Other popular activities include swimming, snorkeling, fishing, and horseback riding. The town's streets are lined with colourful buildings, art galleries, and shops selling handmade crafts and souvenirs. There are also many restaurants, cafes, and bars offering a variety of cuisine, including traditional Mexican dishes, fresh seafood, and international fairs.
16. Alamos
Insider Monkey Score: 15
Alamos was founded in the 17th century and served as an important centre for silver mining and trade during the colonial period. Many of the town's historic buildings, including grand mansions, churches, and plazas, have been well-preserved and are open for visitors to explore. The small town is also known for its lively arts and cultural scene. The town hosts several festivals and events throughout the year, including the Alfonso Ortiz Tirado International Festival, a renowned music and cultural festival that attracts people from around the world.
15. Mexico City
Insider Monkey Score: 16
Mexico City is the capital city of Mexico and one of the largest cities in the world, with a total population of approximately 22 million people. Mexico City has a rich history and cultural heritage, with many museums, galleries, and historical sites to explore. The National Museum of Anthropology, in Chapultepec Park, is one of the world's largest and most impressive museums, showcasing the diverse cultures and civilizations that have shaped Mexico's history.
14. Guanajuato
Insider Monkey Score: 17
Guanajuato is known for its beautiful colonial architecture, rich history, and cultural heritage, and a UNESCO World Heritage Site. The city's historic centre is a maze of narrow streets, alleys, and plazas, lined with brightly coloured buildings and adorned with beautiful colonial-era churches and monuments. One of the most famous landmarks in the city is the Juarez Theater, a stunning neoclassical building that hosts many cultural events throughout the year.
13. Durango
Insider Monkey Score: 19
Durango is a vibrant and historic city known for its beautiful colonial architecture, rich cultural heritage, and natural beauty. The city's historic centre is a well-preserved example of colonial architecture, with many beautiful buildings, churches, and plazas dating back to the 16th and 17th centuries. One of the most famous landmarks in the city is the Basilica Menor de Nuestra Se?ora de Guadalupe, a stunning neoclassical church that houses a revered image of the Virgin Mary.
12. Ensenada
Insider Monkey Score: 20
Ensenada is situated approximately 70 miles south of the United States-Mexico border and about 100 miles southwest of San Diego. Ensenada is known for its beautiful beaches, scenic coastline, and bustling tourist industry. The city is the third largest in Baja, California, with a population of around 450,000 people as of 2020. Ensenada is an important commercial and industrial centre with a thriving port that handles a significant amount of shipping traffic.
11. Zihuatanejo
Insider Monkey Score: 21
Zihuatanejo is a popular destination for tourists from around the world. The town offers a wide range of activities, including swimming, snorkelling, fishing, and sailing. Visitors can also enjoy the local cuisine, which features fresh seafood and traditional Mexican dishes. One of the most popular attractions in Zihuatanejo is La Ropa Beach, a long stretch of white sand beach perfect for swimming, sunbathing, and watersports. The town also has a charming downtown area with colourful buildings, cobblestone streets, and a central market where visitors can buy handmade crafts and souvenirs.
10. Huatulco
Insider Monkey Score: 22
Huatulco is situated in a series of bays and coves along a 20-mile stretch of coastline, and it is known for its beautiful beaches, clear waters, and lush tropical vegetation. The town was developed as a tourist destination in the 1980s, and today it attracts visitors from around the world. The town is also home to several ancient archaeological sites, including the Copalita Eco-Archaeological Park, which features the ruins of a pre-Columbian city. Pharmacies in Huatulco have the advantage of being open late, and some even operate 24 hours. In comparison to the United States, medication in Mexican pharmacies is remarkably inexpensive, costing only a fraction of the price.
9. San Cristobal de Las Casas
Insider Monkey Score: 24
San Cristobal de Las Casas is situated at an altitude of 7,200 feet above sea level and is known for its picturesque streets, colourful buildings, and rich cultural heritage. San Cristobal de Las Casas was founded in the 16th century and is home to several beautiful examples of colonial architecture. The town's historic centre features several churches and other buildings that date back to the 17th and 18th centuries, including the impressive Cathedral of San Cristobal de Las Casas.
8. Tulum
Insider Monkey Score: 25
Tulum was once a major port for the Mayan civilization and is home to several impressive archaeological sites, including the Tulum Ruins, which are perched on a cliff overlooking the Caribbean Sea. The ruins date back to the 13th century and offer visitors a chance to learn about the ancient Mayan culture and way of life. Tulum is also known for its vibrant yoga and wellness facilities, with several yoga studios, retreats, and spas located throughout the town, making it an attractive place for retirees.
7. Oaxaca
Insider Monkey Score: 32
Oaxaca was founded in the 16th century. The city has several impressive examples of colonial architecture, including the Basilica of Our Lady of Solitude and the Santo Domingo Church and Museum. The historic centre of Oaxaca was declared a UNESCO World Heritage Site in 1987 and features narrow streets, colourful buildings, and traditional markets. Oaxaca is a popular destination for retirees due to its low cost of living, a diverse range of climatic zones, and natural beauty.
6. Lake Chapala
Insider Monkey Score: 35
Lake Chapala is a beautiful and relaxing destination that offers residents a chance to enjoy Mexico's natural beauty and rich cultural heritage. The lake covers an area of approximately 400 square miles and is surrounded by several charming towns and villages, including Ajijic and Chapala. The towns and villages around Lake Chapala are known for their vibrant arts. People can explore local art galleries, museums, and cultural centres and participate in traditional festivals and celebrations.
Mexico is a popular place for retirement not only because of its rich cultural heritage but also its strong economy. Some of the biggest Mexican corporations include Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF), CEMEX, S.A.B. de C.V. (NYSE:CX), and Southern Copper Corporation (NYSE:SCCO).
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Disclosure: None. 20 Best Places to Retire in Mexico is originally published at Insider Monkey.