News:

Baby Boomers Abroad Unite!

Wednesday, April 15, 2009

By Simon Burgess / Insidemex.com

By 2022, the number of English-speakers living in Mexico is predicted to have risen to 10 million people.
Incredible right?
Incredible but a very likely reality, even with the current economic crisis. 
And who will make up the majority of these residents? People over the age of 60 coming to retire in Mexico.  
Baby Boomers, retirees, active adults, pensioners. Call them what you will, but with the ever-aging populations of "developed" countries such as the US, Canada and most of Western Europe, together they represent a huge market for property, goods, services and information providers that is set to grow exponentially as the estimated 100 million boomers in the US and Canada alone retire over the next 20 years.
This is the richest generation of all time, and with its propensity to travel and desire for a high standard of living is increasingly looking at retiring overseas - Mexico already has 2.5 million retired English-speakers living full-time in one of the many expat communities around the country.
And so for this reason Luis Miranda, CEO of BoomerAbroad has set up a new social network an information resource for Boomers, "...to provide the necessary information, education, guidance, resources, tools and alternatives to start boomers down the path of discovering and understanding all that living, retiring and investing abroad has to offer".
I'd highly recommend anyone who is thinking of moving to Mexico as a retiree to take a look - it's definitely worth checking out.
But what can Mexico do to prepare for the influx of boomers looking to retire to sunnier climes?
Well, according to Dr Jorge Casteñada, ex-Foreign Minister to Presidente Vicente Fox, there are three important innovations needed to really help expatriates retire in Mexico:
 

  1. The major American health insurance companies need to cover at least basic-level services. The introduction of Medicare to Mexican expats would be of huge benefit.
  2. Mexico needs to build new and better airports near to large expatriate communities - San Miguel, Puerto Vallarta, Los Cabos, Riviera Maya.
  3. There need to be enough services and facilities such as golf courses, movie theaters, satellite television, good phone services, world class clinics and hospitals etc If our reader survey is anything to go by

So what's your view? Are you looking to move to Mexico?

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