What is the true cost of living in Mexico? While it can vary considerably depending on location and lifestyle choices, the vast majority of expatriates contacted for a new survey agreed that it is lower than in their home countries.
The survey, entitled Is it Cheaper to Live in Mexico? A Research Study, found that most people who relocated to Mexico paid less for goods and services than what they would pay in their country of origin and were therefore able to enjoy a more lavish lifestyle than they could otherwise afford.
Completed by 1,129 expats, the survey offers insights into the spending habits, opinions, experiences and concerns of people who have moved to Mexico to live, either to continue working or to retire.
The study was conducted and published by Best Places in the World to Retire, which also previously published a survey about expats' expectations before moving to Mexico and the reality they experience once living in the country.
The overwhelming response to the central question in the latest survey - is it cheaper to live in Mexico? - was yes.
Almost half of those surveyed reported that with $50 US dollars or less in Mexico, they could buy the same quality of goods and services that they would pay $100 USD for in their home country.
In other words, things cost half or less here than where they previously lived, they said.
A further 36% said that they paid between 25% and 50% less for goods and services in Mexico, meaning that a combined 85% of expat respondents said they pay between half and three-quarters the price of what they would pay for the same thing back home.
The study also found that those who generated the most savings by moving to Mexico reduced their expenses the least. However, the lower costs in Mexico meant that they were able to give themselves a significant lifestyle upgrade.
Read the full article at MexicoNewsDaily.com.The Best Places in the World to Retire's full survey can be downloaded HERE.